U.S. weekly jobless claims rise; labor market still tightening
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.
Fannie Mae's net income fell in the second quarter from a year-ago due to losses on its derivatives, while it is expected to pay $3.4 billion in dividends to the U.S. Treasury, the No. 1 U.S. mortgage financing agency said on Thursday.
Here are the biggest calls on Wall Street on Thursday
Kellogg Co beat Wall Street expectations for quarterly sales and profit on Thursday, driven by higher demand for its snacks, including Pringles and Pop-Tarts, in North America, sending its shares up about 4% before the bell.
Uncertainty looms after the Fed's rate cut, but traders haven't lost optimism.
With loans for pricey weddings on the rise, experts are concerned about bigger burdens for Americans already swamped with debt.
U.S. manufacturing activity slowed to a near three-year low in July and a measure of new orders received by factories rebounded slightly, as the negative effects of a bitter trade war between the United States and China lingered.
The apparent suicide of India's coffee baron V.G. Siddhartha, under investigation by tax authorities, has inflamed anger toward the government among business leaders who feel it is going too far in its crackdown on fraud and tax evasion.
Bombardier Inc lowered its full-year earnings and cash flow forecasts and reported a quarterly loss on Thursday, as it faces challenges in its important rail division, sending shares of the Canadian train and plane maker down 18%.
General Motors Co posted a better-than-expected net profit on Thursday as high-margin pickup trucks, SUVs and crossovers helped overcome slowing sales in the United States and China, and reiterated its full-year earnings forecast.
Odeon Capital senior banking analyst Dick Bove raised his rating on Wells Fargo to buy from hold, citing the banks "enormous financial strength."
Global grain trader and food processor Archer Daniels Midland Co on Thursday reported a 41.3% drop in second-quarter adjusted profit and missed Wall Street expectations, after being battered by the U.S.-China trade war and severe U.S. weather this spring that disrupted production and transportation.
U.S. stocks bounced back on Thursday, helped by technology shares as focus shifted to corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session.
The U.S. manufacturing sector expanded in July, but the pace of growth decelerated to its weakest in nearly three years stemming from a broad decline in activities from the month before, an industry report released on Thursday showed.
BNP Paribas analysts said late Wednesday they expect the Federal Reserve to lower key U.S. borrowing costs only one more time in 2019, with a 25 basis-point cut in September as an insurance against mounting risks.