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US stocks stabilize after inflation data and unemployment claims

2019-04-11 02:28 pm | Resource: NEWS | No Views : 124

US stocks stabilize after inflation data and unemployment claims

US stocks stabilized at the start of trading on Thursday as investors turned their attention to the start of inflation in March, as well as the initial unemployment rate.

Initial US jobless claims fell by 8,000

US jobless claims for the week ending April 6 fell 8,000 by the previous week's figure to 196,000, the Labor Department said on Thursday. The previous week's level was adjusted upwards from 2000 to 204,000. The four week moving average was 207,000, down 7000 from last week's revised rate of 214,000.

The seasonally adjusted unemployment rate for the week ended March 30 was 1.2%, unchanged from the previous week. The seasonally adjusted unemployment rate during the same week was 1713,000, down 13,000 from the revised figure the previous week. The four-week moving average was 1734,500, or 11,000 lower, compared to the revised 1745,500 last week.

US producer prices rose 0.6% in March

The country's Bureau of Labor Statistics said on Thursday that the PPI for final demand in the US rose by 0.6 percent on a seasonally adjusted basis in March compared to the previous month. On an unadjusted basis, the final demand index jumped 2.2% for the year ending last month.

Most of the increase in the final demand index was driven by a 1% rise in the prices of final demand items. The final demand services index rose 0.3%. The final demand index excluding food, energy and business services in March remained unchanged on a monthly basis after rising by 0.1% in the previous month and grew by 2% compared to last year.

Fed Pollard: The FOMC may miss inflation target in 2019

The Federal Open Market Committee (FOMC) in the United States may miss the inflation target on the low side in 2019. Pollard pointed out that the labor market in the country was doing well, but the reaction from the labor markets to Inflation "is very weak," adding that the FOMC has missed most of its assessments of personal consumption expenditure over the past seven years.

Commenting on the reversal of the yield curve, Pollard said he would point out that financial markets expect less inflation and growth than the FOMC, and noted that data on these types of coups were not infallible.

The president of the Federal Reserve Bank of St. Louis announced that the central bank's budget reduction program would be terminated this fall, as normalization was "very successful". "The FOMC may choose to adjust the monetary policy to move forward, but any such adjustments will be in response to incoming macroeconomic data and not part of the ongoing normalization strategy," Pollard said.

The opening of US trading
 
  • At the beginning of the session, the Dow Jones Industrial Average rose by + 15 points to 26,172 points at 04:40 pm CET
  • The Nasdaq Composite Index stood at 7964 points,
  • The Standard & Poor's 500 index rose one point to 2,890 points.


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