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usa economy

Fed’s Powell says US making ‘modest’ progress on inflation

WASHINGTON: The US Federal Reserve is making “modest” progress in its inflation fight, the head of the US central...

Published 09 Jul, 2024 07:38pm

Business & Finance

US third quarter GDP revised up to 3.2pc with help from spending

WASHINGTON: The US economy expanded 3.2 percent in the third quarter, the Commerce Department said Thursday, in a...

Published 23 Dec, 2022 06:49am

World

Fed officials say no call yet on 50 vs 75 bps rate hike in September

JACKSON: U.S. Federal Reserve officials on Thursday were noncommittal about the size of the interest rate increase...

Published 25 Aug, 2022 07:02pm

World

Revision shows mild U.S. economic contraction in second quarter

WASHINGTON: The U.S. economy contracted at a moderate pace than initially thought in the second quarter as consumer...

Published 25 Aug, 2022 06:11pm

World

White House says concerned about recession but US economy strong

WASHINGTON: The American economy remains strong, but a White House economist acknowledged Tuesday that President Joe...

Published 21 Jun, 2022 10:59pm

Markets

US weekly jobless claims fall; corporate profits sag in first quarter

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell more than expected last week as...

Published 26 May, 2022 07:04pm

World

US producer prices increase strongly in February

WASHINGTON: US producer prices rose solidly in February, and further gains are likely amid higher prices of crude...

Published 15 Mar, 2022 06:28pm

World

Biden says consumer inflation report shows budgets of Americans are 'being stretched'

US President Joe Biden said the January consumer price index report issued on Thursday was a reminder the budgets of...

Published 10 Feb, 2022 09:11pm

World

US weekly jobless claims fall; first quarter GDP unrevised at 6.4pc

Imprecise seasonal factors around Memorial Day holiday weekend likely contributed to the uptick in initial claims, so the rise should prove temporary.
Four states, including Iowa and Alaska, either terminated all federal government-funded benefits or just the $300 supplement on June 12.

Published 24 Jun, 2021 05:44pm

World

US existing home sales decline as prices surge to record high

Home resales, which account for the bulk of US home sales, surged 44.6% on a year-on-year basis.
The median existing house price accelerated a record 23.6% from a year ago to an all-time high of $350,300 in May.

Published 22 Jun, 2021 07:25pm

Markets

S&P 500, Nasdaq hit record highs on tech earnings boost, upbeat data

Apple, Facebook jump on strong earnings.
Communication services leads gains among S&P 500 sectors.
US economy accelerates in Q1; jobless claims edge lower.
Indexes up: Dow 0.39%, S&P 0.70%, Nasdaq 0.75%.

Published 29 Apr, 2021 07:52pm

World

Vaccines, fiscal stimulus boost US employment in March

Nonfarm payrolls jump 916,000 in March.
Employment increases across the board.
Unemployment rate falls to 6.0% from 6.2% in February.
Long-term unemployment remains elevated.

Published 02 Apr, 2021 07:24pm

Business & Finance

U.S. Treasury's Yellen sees post-COVID growth, possible full employment in 2022

Yellen, in written testimony prepared for delivery to the U.S. House of Representatives Financial Services Committee, said that with passage of the $1.9 trillion American Rescue Plan Act,

Published 23 Mar, 2021 02:45pm

Markets

US dollar little changed as investors await Fed meeting outcome

Fed seen keeping monetary policy stance.
US retail sales fall unexpectedly in February.
Euro falls vs dollar, yen rises.
Aussie and Kiwi dollars slip.

Published 16 Mar, 2021 09:10pm

World

US import prices rise strongly in February, boosted by crude oil, commodities

In the 12 months through February, import prices accelerated 3.0%. That was the largest gain since March 2012 and followed a 1.0% rise in January.
Imported fuel prices surged 11.1% last month after advancing 9.0% in January. Imported food prices shot up 1.6%.

Published 16 Mar, 2021 08:27pm

World

US weekly jobless claims grind lower as labor market stabilizes

Weekly jobless claims fall 33,000 to 779,000.
Continued claims drop 193,000 to 4.592 million.
Productivity drops at 4.8% rate in fourth quarter.

Published 04 Feb, 2021 09:08pm

World

US factory orders beat expectations in December

The Commerce Department said on Thursday that factory orders increased 1.1% after surging 1.3% in November.
The Institute for Supply Management reported this week that its index of national factory activity slipped in January.

Published 04 Feb, 2021 08:41pm

World

US private hiring rebounds solidly in January

Private payrolls increase 174,000 in January.
Goods producing jobs rise 19,000; services up 156,000.

Published 03 Feb, 2021 10:04pm

World

US manufacturing sector slows; prices paid by factories highest since 2011

The Institute for Supply Management (ISM) said on Monday its index of national factory activity fell to a reading of 58.7 last month from 60.5 in December.
The ISM's forward-looking new orders sub-index fell to a reading of 61.1 last month from 67.5 in December.

Published 01 Feb, 2021 09:24pm

World

US core capital goods orders rise in boost to business investment

Core capital goods orders increase 0.6% in December.
Core capital goods shipments rise 0.5%.
Durable goods orders gain 0.2%.

Updated 27 Jan, 2021 11:31pm

World

US factory activity races to more than 13-1/2-year high in early January

Data firm IHS Markit said on Friday its flash US manufacturing PMI accelerated to a reading of 59.1 in the first half of this month.
The IHS Markit survey's measure of new orders received by factories raced to its highest level since September 2014.

Published 22 Jan, 2021 09:10pm

World

US business inventories rise in November

Business inventories rose 0.5% in November after increasing 0.8% in October, the Commerce Department said on Friday.
Retail inventories excluding autos, which go into the calculation of GDP, gained 0.2% instead of 0.3% as estimated last month.

Published 15 Jan, 2021 08:20pm

World

US retail sales fall again in December

Data for November was revised down to show sales declining 1.4% instead of 1.1% as previously reported.
The report followed in the wake of news last week that the economy shed jobs in December for the first time in eight months.

Published 15 Jan, 2021 07:46pm

World

US producer prices increase moderately in December

The producer price index for final demand increased 0.3% last month after nudging up 0.1% in November.
A 1.1% increase in the cost of goods accounted for last month's rise in the PPI. Prices for services dipped 0.1%.

Published 15 Jan, 2021 07:04pm

World

'We cannot afford inaction' on US economy: Biden

"In this moment of crisis... we cannot afford inaction."

Published 15 Jan, 2021 09:41am

World

US weekly jobless claims increase more than expected

$300 unemployment supplement until March 14 as part of nearly $900 billion in additional relief approved at the end of December.
The central bank also noted that the resurgence in the coronavirus was causing staff shortages in the manufacturing.

Published 14 Jan, 2021 06:55pm

World

US private payrolls post first decline in eight months as COVID-19 cases soar

Private payrolls decrease 123,000 in December.
Manufacturing, leisure and hospitality sectors shed jobs.

Published 06 Jan, 2021 08:49pm

World

US manufacturing sector activity rises to nearly 2-1/2-year high: ISM

The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity rebounded to a reading of 60.7 last month.
A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the US economy.

Published 05 Jan, 2021 08:45pm

World

US weekly jobless claims fall; consumer spending declines in November

Though jobless claims have dropped from a record 6.867 million in March, they remain above their 665,000 peak during the 2007-09 Great Recession.
The United States is being battered by a new wave of coronavirus cases, with more than 18 million people infected and nearly 320,000 dead.

Published 23 Dec, 2020 08:44pm

World

US existing home sales fall more than expected in November

Existing home sales, which account for the bulk of US home sales, surged 25.8% on a year-on-year basis in November.
Sales fell in the South, Midwest and Northeast. They were flat in the West.

Published 22 Dec, 2020 08:20pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 21	278.88
USD PKR Interbank Buying / Jan 21	278.78
USD to Japanese Yen / Jan 21	155.80
USD to Swiss Franc / Jan 21	0.91
Pound Sterling to USD / Jan 21	1.23
Euro to USD / Jan 21	1.04

Stock	Volume
S&P 500 / Jan 21	6,049.24
India Sensex / Jan 21	75,838.36
Tokyo Nikkei / Jan 21	39,604.71
Nasdaq / Jan 21	19,756.78
Hang Seng / Jan 21	19,872.36
FTSE 100 / Jan 21	8,548.29
Dow Jones / Jan 21	44,025.81
Germany DAX 30 / Jan 21	21,042

Item	Value
Crude Oil USD/Barrel / Jan 21	75.89
Karachi Cotton PKR/37.32 KG / Jan 21	18,485
Gold 10 Grams PKR / Jan 21	242,798
Gold Spot USD/Ounce / Jan 21	2,749.13
Cotton US¢/pound / Jan 21	67.43
Petrol/Litre / Jan 22	256.13

Gainers
Losers
Leaders

Stock	Price
Pak Gen.Ins. / Jan 22 The Pakistan General Insurance Co. Ltd.(PKGI)	9.46 ▲ 0.96 (11.29%)
Leather Up Ltd. / Jan 22 Leather Up Limited(LEUL)	27.57 ▲ 2.51 (10.02%)
Olympia Mills / Jan 22 Olympia Mills Limited(OML)	39 ▲ 3.35 (9.40%)
Pak Engineering / Jan 22 Pakistan Engineering Company Limited(PECO)	733 ▲ 61.78 (9.20%)
Rafhan Maize / Jan 22 Rafhan Maize Products Company Limited(RMPL)	9,950 ▲ 755.06 (8.21%)
Invest Bank / Jan 22 Invest Capital Investment Bank Limited(ICIBL)	1.70 ▲ 0.09 (5.59%)
Thal Limited / Jan 22 Thal Limited(THALL)	439.90 ▲ 23.15 (5.55%)
Indus Dyeing / Jan 22 Indus Dyeing & Manufacturing Co. Limited(IDYM)	125.99 ▲ 5.98 (4.98%)
Ali Asghar / Jan 22 Ali Asghar Textile Mills Limited(AATM)	50.48 ▲ 2.37 (4.93%)

Stock	Price
Khyber Textile / Jan 22 Khyber Textile Mills Limited(KHYT)	475 ▼ -51.08 (-9.71%)
United Brands / Jan 22 United Brands Limited(UBDL)	22.56 ▼ -1.47 (-6.12%)
Equity Modaraba / Jan 22 First Equity Modaraba(FEM)	3.40 ▼ -0.14 (-3.95%)
AL-Ghazi Tractors / Jan 22 Al-Ghazi Tractors Limited(AGTL)	621.10 ▼ -24.02 (-3.72%)
Pakistan Cables / Jan 22 Pakistan Cables Limited(PCAL)	181.01 ▼ -6.63 (-3.53%)
MithchellsFruit / Jan 22 Mitchells Fruit Farms Limited(MFFL)	265 ▼ -8.23 (-3.01%)
Adamjee Life Assur. / Jan 22 Adamjee Life Assurance Company Limited(ALIFE)	29.10 ▼ -0.89 (-2.97%)
Hinopak Motor / Jan 22 Hinopak Motors Limited(HINO)	436 ▼ -13.03 (-2.90%)
Dewan Motors / Jan 22 Dewan Farooque Motors Limited(DFML)	44.50 ▼ -1.22 (-2.67%)

Stock	Volume
Cnergyico PK / Jan 22 Cnergyico PK Limited(CNERGY)	114,034,653 ▲ 0.01
Bank Makramah / Jan 22 Bank Makramah Limited(BML)	69,476,357 ▲ 0.02
WorldCall Telecom / Jan 22 Worldcall Telecom Limited(WTL)	64,227,770 ▼ -0.03
Fauji Cement / Jan 22 Fauji Cement Company Limited(FCCL)	53,698,225 ▲ 0.35
Citi Pharma Ltd / Jan 22 Citi Pharma Ltd.(CPHL)	23,402,152 ▼ -0.17
Lotte Chemical / Jan 22 Lotte Chemical Pakistan Limited(LOTCHEM)	23,042,045 ▲ 0.12
Ghani Chem. Ind. / Jan 22 Ghani Chemical Industries Limited(GCIL)	21,938,589 ▼ -0.01
Power Cement / Jan 22 Power Cement Limited(POWER)	21,682,567 ▲ 0.05
B.O.Punjab / Jan 22 The Bank of Punjab(BOP)	14,838,637 ▲ 0.05

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