This morning's release of the Philly Fed Manufacturing report for the month of May pretty much erased all hopes of a market rally. With economists expecting a level of 10.0, the actual reading was not only weaker but it was also negative (-5.8). As shown in the table to the right, the weakness was pretty much across the board as six out of nine sub-components came in at negative levels.
The Philly Fed Index came in at expectations this morning, at 1.0. Last month, the index disappointed, notching a negative 0.7. The consensus was for a positive 1. Check out the full release here > More to follow... Join the convers... Read Post
Minutes away from the release of the Philadelphia Fed's closely watched Business Outlook Survey at 10 AM ET. Economists expect the index to rise to 5.6 after registering a 4.6 reading last month. Last month's figure, which marked a ... Read Post
Philly Fed data came in lower than expected this morning, at -0.7%. That's two negative numbers in a row. The consensus was for a positive 3.8. That being said, the market is actually higher post-release. Here's the headlines from t... Read Post