By Dean Popplewell: It seems that every time that capital markets start to feel optimistic this so-called U.S. recovery disappoints. Yesterday’s disappointing U.S. data (weekly claims, Philly Fed and housing starts) are renewing the debate over whether tapering Fed bond buying in the second half of this year would be premature. Show More Summary
By Doug Short: Before the market opened we learned that April CPI was a mere 1.06% and Core CPI was 1.72%, well below the Fed's target 2%-to-2.5% range. Housing starts were below consensus. Then at 10:30 the Philly Fed Business Outlook showed unexpected contraction. Show More Summary
Month in and month out I see unwarranted optimism in Europe and in the US. For example, on Thursday I stated "Philly Fed Slips Into Contraction (Again); Current Conditions Recessionary, Future Expectations Far Too Optimistic". Here is...Show More Summary
By The Oxen Group: Market Recap: The market, finally, made a move to the downside today after a slate of weak economic data points. Housing starts, unemployment claims, continuing claims, and Philly Fed all missed expectations. That news derailed the market somewhat after such a strong run. Show More Summary
By Sold At The Top: Complete Story »
The Philly Fed Business Outlook Survey shows regional activity weakened with current indicators negative. The Six-Month Outlook brightened in what I believe is rampant over-optimism. "The current activity index has shown no pattern of...Show More Summary
The Federal Reserve Bank of Philadelphia’s Business Outlook Survey contracted again in May, declining for the first time since February.Read the Rest...
Mid-Atlantic manufacturers slipped into contraction this month, according to a report released Thursday by the Federal Reserve Bank of Philadelphia.
It's just getting plain stupid out there. Just as stocks were exploding into the green (perhaps on expectations of an epic Philly Fed miss), the Philly Fed did not disappoint, printing at -5.2, down from 1.3, and crushing expectations...Show More Summary
The Philadelphia Fed's monthly Business Outlook Survey is out. The headline index plunged to -5.2 from last month's 1.3 reading. Economists were looking for a rise to 2.0. Below is the full text from the release: May 2013 Business Outlook...Show More Summary
Note: I'll have more on housing starts and inflation later... From the Philly Fed: May Manufacturing Survey Manufacturing firms responding to the monthly Business Outlook Survey suggest that regional manufacturing activity weakened this month. Show More Summary
From Realtor.com: April realtor.com® Report Shows Housing Recovery Accelerating, As List Price And Inventory Increase In April, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,750,839) increased by 4.12 percent month-over-month. Show More Summary
Comments from Philly Fed President Charles Plosser would likely keep the spotlight on the Fed’s QE program in today's trading session. Mr. Plosser is part of the hawks on the FOMC that have been arguing for scaling back the pace of bond purchases before stopping the program altogether.
Forecasters have downgraded modestly their outlook for growth and upgraded their job market outlook, according to the Survey of Professional Forecasters, released Friday.
By Sold At The Top: Complete Story »
Business conditions for mid-Atlantic manufacturers remain barely positive this month, according to a report released Thursday by the Federal Reserve Bank of Philadelphia.
The Philadelphia Federal Reserve, or the Philly Fed, is out with its monthly report on business for the month of April. As the Business Outlook Survey is a somewhat live reading, we pay attention to the report. The index indicator for overall activity remained slightly positive this month at 2.5. Show More Summary
Hardly anyone will be surprised to learn that moments ago we just got the latest disappointing economic indicator for an economy that is clearly accelerating in its deterioration. As expected, the April Philly Fed was the latest economic indicator miss, printing at 1.3, down from last month's 2.0, and below expectations of am increase to 3.0. Show More Summary
Earlier stock futures were up nicely, but things have gone red. The S&P is off 0.6%. This morning we got an okay initial jobless claims report, but the Philly Fed manufacturing report, which just came out, showed more weakness. Europe has also weakened considerably in the last several minutes Please follow Money Game on Twitter and Facebook. Show More Summary
From the Philly Fed: April Manufacturing Survey Manufacturers responding to the Business Outlook Survey reported near steady business activity in April. The indicator for overall activity remained slightly positive this month, but other broad indicators were mixed. Show More Summary