CAC 40 Slips Into Red With Rate Decisions In Focus
(RTTNews) - French stocks were a tad lower on Thursday after the U.S. Federal Reserve raised rates by 25 bps, as widely expected, and signaled it may pause further rate increases depending on incoming data.
Meanwhile, the European Central Bank is expected to raise interest rates for the seventh meeting in a row later today, citing upside risks to the inflation outlook.
In economic releases, the French services PMI increased from 53.9 to 54.6 but was down from a prelim 56.3.
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,377 after closing 0.3 percent higher the previous day.
Capgemini shares fluctuated after the IT consulting group posted weaker revenue growth in the first quarter amid a tense economic environment.
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U.S. Pending Home Sales Rebound From Six-Month Low In August
A report released by the National Association of Realtors on Thursday showed a modest rebound in pending home sales in the month of August. NAR said pending home sales index rose by 0.3 percent to 71.2 in August after tumbling by 2.6 percent to a revised 71.0 in July. Economists had expected pending home sales to climb by 0.5 percent.
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1h 49min ago
Philly Fed Index Pulls Back Off Five-Year High In September
The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September. The Philly Fed said its diffusion index for current general activity fell to 37.8 in September after climbing to 47.4 in August, although a positive reading still indicates growth.
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2h 0min ago
U.S. Housing Starts Unexpectedly Tumble 2.6% In August
New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday. The Commerce Department said housing starts tumbled by 2.6 percent to an annual rate of 1.309 million in August after plunging by 9.0 percent to a revised rate of 1.439 million in July.
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2h 17min ago
U.S. Jobless Claims Unexpectedly Dip To Lowest Level Since Mid-July
A report released by the Labor Department on Thursday showed an unexpected decline in first-time claims for U.S. unemployment benefits in the week ended September 12th. The Labor Department said initial jobless claims fell to 196,000, a decrease of 10,000 from the previous week's unrevised level of 206,000. Economists had expected jobless claims to inch up to 208,000.
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2h 20min ago
Bank Of England Holds Rate Steady At 3.75%
The Bank of England left its key interest rate unchanged on Thursday amid limited evidence of second-round effects but further increase in energy prices raises the prospect of a hike in November. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to maintain the bank rate at 3.75 percent, the lowest rate since June 2023. The move was in line with economists' expectations.
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3h 42min ago
Philly Fed Index Pulls Back Much Less Than Expected In September
The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September.
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3h 50min ago
U.S. Housing Starts Unexpectedly See Further Downside In August
New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday.
RTTNews
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3h 55min ago
U.S. Weekly Jobless Claims Unexpectedly Decrease
A report released by the Labor Department on Thursday showed an unexpected decline in first-time claims for U.S. unemployment benefits in the week ended September 12th.
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4h 1min ago
