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Archive for the ‘Entrepreneur’ Category

U.S. factory growth slows but hiring by companies steps up

01 Oct

Workers assemble built-in appliances at the Whirlpool manufacturing plant in ClevelandBy Jason Lange WASHINGTON (Reuters) – Growth in U.S. factory activity slowed more than expected in September even as private sector job growth accelerated, signs of an uneven expansion in the U.S. economy. The Institute for Supply Management said on Wednesday its index of national factory activity dropped to 56.6 last month, its lowest level since June. A reading above 50 indicates expansion. Analysts have been warning U.S. factories could feel a chill from soft demand in the global economy and from recent strength in the U.S. dollar, and the ISM data could be an indication of this. Still, …

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Auto stocks drop after September sales data

01 Oct

Traders work on the floor of the New York Stock ExchangeBy Caroline Valetkevitch NEW YORK (Reuters) – Shares of many leading automakers were lower following early September car-sales data on Wednesday, with Ford Motor down 0.9 percent after it reported sales fell slightly from a year ago. The sales data from Ford follows a disappointing outlook from the company on Monday. Ford shares are down 10.8 percent for the week so far. Shares of General Motors were up 1.4 percent after it reported year-over-year sales gains. U.S.-listed shares of Toyota Motor were down 0.3 percent as it reported a decline in September sales from a year ago. U.S. …

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U.S. consumer confidence, home prices show weakness

30 Sep

File photo of shopper walking down aisle in newly opened Walmart Neighborhood Market in ChicagoBy Sam Forgione NEW YORK (Reuters) – U.S. consumer confidence fell in September for the first time in five months and home prices in July rose less than expected from a year earlier, underscoring the unsteady nature of U.S. growth. Another report on Tuesday showed business activity growth in the U.S. Midwest decelerated slightly in September. “We’re continuing to effectively struggle,” said Mike Englund, chief economist at Action Economics in Boulder, Colorado. “Some of the optimism that we got in the updraft in consumer confidence in the third quarter was probably a bit overstated. …

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U.S. consumer confidence falls in September

30 Sep

File photo of shopper walking down aisle in newly opened Walmart Neighborhood Market in ChicagoNEW YORK (Reuters) – U.S. consumer confidence fell in September to its lowest level since May on concerns over the job market and economic growth, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 86.0 from a upwardly revised 93.4 the month before. Economists had expected a reading of 92.5, according to a Reuters poll. August’s reading was originally reported as 92.4. The dip in September came after four straight months of improvement. …

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Americans step up spending, but home market weakens

29 Sep

A woman shops with her daughter at a Walmart Supercenter in RogersBy Jason Lange WASHINGTON (Reuters) – U.S. consumer spending accelerated in August, the government said on Monday, a positive sign for an economy that appears to be firing on nearly all cylinders. The housing sector remains an exception, however, with a separate report showing Americans signed fewer contracts in August to purchase previously owned homes. Nevertheless, the rise in household spending offered the latest suggestion that years of exceptionally low interest rates have finally pushed the economy into a higher gear. Consumer spending rose 0. …

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U.S. pending home sales fall more than expected in August

29 Sep

Homes are seen for sale in the southwest area of PortlandWASHINGTON (Reuters) – Contracts to purchase previously owned U.S. homes fell more than expected in August, pointing to a still shaky housing sector. The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, fell 1.0 percent to 104.7. Economists polled by Reuters had expected a decline of just 0.1 percent. Despite the drop, pending sales were still at the second-highest level of the year. In July, sales had risen 3.2 percent, a touch softer than the previously reported 3.3 percent gain. …

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While ECB struggles, Fed sees recovery

28 Sep

An Assembled in the USA stamp is seen at the side of a box containing a TV set in the warehouse of Element Electronics, in WinnsboroBy William Schomberg LONDON (Reuters) – On one side of the Atlantic they’re trying to refill the punchbowl. On the other they’re getting ready to take it away. This week, investors may get a clearer idea why. The European Central Bank will spell out on Thursday its latest attempt to steer the euro zone away from the prospect of damaging deflation, following the latest snapshot of consumer price pressures on Tuesday. U.S. …

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Gross begins second act as bond guru at tiny Janus fund

27 Sep

Bill Gross, co-founder and co-chief investment officer of PIMCO arrives to speak at the Morningstar Investment Conference in ChicagoBy Richard Leong NEW YORK (Reuters) – For Bill Gross, quitting Pimco’s $222 billion Total Return Fund to take over a $13 million fund at Janus Capital is like resigning the U.S. presidency to become city manager of Ashtabula, Ohio, population 18,800. Gross stunned the investing world on Friday with his abrupt departure from Pimco, the $2 trillion asset manager he co-founded in 1971 and where he had run the Total Return Fund, the world’s biggest bond fund, for more than 27 years. …

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Digital Ally soars after receiving order from U.S. military

26 Sep

Traders work on the floor of the New York Stock ExchangeBy Ryan Vlastelica NEW YORK (Reuters) – Shares of Digital Ally surged on Friday, with the stock soaring on heavy volume after it received an order from the U.S. military police. The stock jumped 21 percent to $18.23, and its volume of 2.5 million shares easily eclipsed its 10-day average of less than 900,000 shares. The stock was one of the biggest percentage gainers on the Nasdaq, and one of the index’s most active names. The wearable-camera company said the military order was valued at about $200,000. …

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Wall St. slumps as Apple drags; S&P breaks support level

25 Sep

Traders work on the floor of the New York Stock ExchangeBy Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks were sharply lower heading into the midpoint of trading on Thursday, with each of the major indexes falling more than one percent and the S&P dropping through a key support level as Apple shares slumped. Apple shares, down 3.3 percent to $98.39, were the biggest drag on both the S&P 500 and Nasdaq 100 indexes, after it pulled back an update to its new operating system. In broad selling, each of the ten major S&P sectors was in negative territory, with the S&P technology index the worst performer, down 2 percent. …

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