The last few weeks saw a lot of important data released by various government agencies culminating in the monthly employment report last Friday. This week the calendar was lighter. Of note was the weekly initial unemployment claims reading from the Labor Department. In the week ending November 4, the number of claims fell to 217,000 while the four-week moving average rose to 212,250.
The question on the minds of most investors has been the same one for many quarteres: What is the Fed's next move? After hiking its benchmark federal funds rate at an aggressive pace in 2022 and more moderate pace in the first half of 2023, the Federal Reserve has begun to tap the brakes on its acceleration.
September 30 is the end of the fiscal year for the federal government. Given the situation in Congress, it is increasingly likely that a shutdown starting October 1 will occur.
US job growth was probably less robust in the year through March than previously reported, according to government data released Wednesday.
The consumer price index (CPI) was released today by the Bureau of Labor Statistics (BLS). It showed the smallest back-to-back increase in the past two years in the core measure which excludes the more volatile food and energy categories.
US business activity expanded in early July at the slowest pace in five months as services growth moderated.