News – Beige Book
Report:June.03: In its anecdotal Beige Book report, the Federal Reserve said it expects economic growth to continue at a modest to moderate pace Fox Business reported.
The central bank noted the dollar’s strength weighed on export sales and capital investments.
For many of its 12 districts, continued oil-price weakness pressured energy-dependent industries, but resulting low gas prices proved to be a tailwind for consumer spending in Cleveland and San Francisco.
Meanwhile, three districts noted continued negative effects from the West Coast port strike.
#AceFinanceNews – June.03: The Commerce Department reports personal income rose 0.4% in April, surpassing expectations for a 0.3% increase in April.
Personal spending, meanwhile, was unchanged for the month, while Wall Street expected spending to tick 0.2% higher from March.
#AceFinanceNews – June.03: The Institute for Supply Management’s gauge of manufacturing activity rose to 52.8 in May from 51.5 in April.
The reading came in above Wall Street’s expectation for 52.
Readings above 50 point to expansion while those below indicate contraction.
#AceFinanceNews – June.03: The private sector added 201,000 jobs in May, more than the 200,000 jobs Wall Street expected for the month, according to payroll processor ADP.
#AceFinanceNews – June.03: The Commerce Department reports the U.S. trade gap narrowed to $40.88 billion in April from $50.57 billion the month prior.
The reading came in below expectations for $44 billion.
#AceFinanceNews – June:.03: The Institute for Supply Management’s gauge of service-sector growth fell to 55.7 in May from 57.8 the month prior. Wall Street expected a shallower fall to 57.
The reading was the lowest since April 2014.
Readings above 50 point to expansion, while those below indicate contraction.
#AceFinanceReport – June.03: PARIS (Reuters) – French Economy Minister Emmanuel Macron said on Wednesday he was confident an agreement between Greece and its creditors could be reached.
“We are confident in the chances of an agreement because there has been an extremely intense Franco-German work on this subject. The last few days have shown it and the next days will show it,” Macron told reporters alongside his German counterpart Sigmar Gabriel.
Greece’s creditors on Tuesday drafted the broad lines of an agreement to put to the leftist government in Athens in a bid to conclude four months of acrimonious negotiations and release aid before the cash-strapped country runs out of money.
(Reporting By Mark John; writing by John Irish; editing by Andrew Callus)
French economy minister says confident Greek deal can be reached
Ace Worldwide News Group