NEW YORK/LONDON (Reuters) – Business surveys on Thursday suggested the world economy was on the mend, with U.S. and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.
The data should bolster the case for the Federal Reserve to start withdrawing support for the U.S. economy this year – possibly as soon as next month – and enhance the appeal for investors of developed economies in North America and Europe.
NEW YORK (Reuters) – A few Federal Reserve officials thought last month it would soon be time to slow the pace of their bond buying “somewhat” but others counseled patience, according to meeting minutes that offered little hint on when the U.S. central bank might reduce its purchases.
The minutes of the Fed’s July 30-31 meeting, released on Wednesday, showed that almost all of the 12 members of the policy-making Federal Open Market Committee agreed changing the stimulus was not yet appropriate.
NEW YORK (Reuters) – U.S. benchmark bond yields hit a two-year high on Monday and emerging market currencies from India to Indonesia tumbled as markets braced for the Federal Reserve to start withdrawing support for the U.S. economy.
U.S. stocks were mixed while political uncertainty in Italy hurt Italian bank shares, dragging down the broader European market. Fear that the Fed will scale back stimulus spending next month battered Wall Street last week, with the Dow industrials putting in their worst weekly run of the year.
NEW YORK (Reuters) – U.S. bond yields hit a two-year high on Monday and emerging market currencies from India to Indonesia tumbled as markets braced for the Federal Reserve to start withdrawing support for the U.S. economy.
U.S. stocks were mixed as trading began but then edge higher, while European shares slipped. Fear that the Fed will scale back stimulus spending next month battered Wall Street last week, with the Dow industrials putting in their worst weekly run of the year.
NEW YORK (Reuters) – U.S. homebuilder confidence neared an eight-year high in August as limited supply of new and existing homes and strong buyer demand outweighed higher mortgage rates, data from the National Association of Home Builders on Thursday showed.
The NAHB/Wells Fargo Housing Market index rose to 59 this month, its fourth consecutive monthly gain and best showing since November 2005. July’s reading, initially reported at 57, was revised to 56.
NEW YORK, Aug 14 (Reuters) – Applications for U.S. home
loans fell last week to their lowest level in more than a month
despite a slight decline in interest rates, data from an
industry group showed on Wednesday.
The Mortgage Bankers Association said its seasonally
adjusted index of mortgage application activity, which includes
both refinancing and home purchase demand, slipped 4.7 percent
in the week ended Aug 9. That was the largest decline since the
week ending June 28.
NEW YORK/LONDON (Reuters) – British businesses boomed and activity at euro zone companies expanded, albeit modestly, in July for the first time in 18 months, while growth in the U.S. services sector rebounded from a three-year low.
The data suggested economic recovery in the UK and U.S. economies was gathering steam, raising questions about the proper amount of monetary stimulus needed in those countries.
NEW YORK (Reuters) – The Federal Reserve secured itself some wiggle room this week with the tactical deployment of three words in its policy statement: “modest,” “mortgage” and “inflation.”
In a statement many had expected to set the stage for a reduction in the central bank’s massive stimulus starting as early as September, Fed officials’ use of those three words instead introduced some doubt about their confidence in the strength of the economic recovery.
NEW YORK/LONDON, Aug 1 (Reuters) – U.S. manufacturing grew
in July at its fastest pace in two years while European
factories snapped a two-year run of declining output, suggesting
a prolonged euro zone recession may be near its end.
Output at British factories also surged last month,
according to business surveys released on Thursday, while an
index of China’s massive manufacturing sector suggested the
slowdown in the world’s No. 2 economy may be stabilizing.
NEW YORK (Reuters) – Another year, another battle over the U.S. budget. It’s hardly what investors need, but it looks like they’re going to get it just the same.
That doesn’t mean it’s time to panic. Last December’s showdown over tax policy, while unpleasant, turned out to be just a minor speed bump for the U.S. stock market, which raced to record highs after Congress struck a last-minute deal on New Year’s Day.