It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
NEW YORK (MarketWatch) — U.S. stocks tumbled Wednesday after reports showed that U.S. companies hired fewer workers than expected and that manufacturing activity receded in May.
The economic numbers continue to disappoint, forcing economists to revise and change forecasts lower in the wake of what appears to be a significant slowdown,” said Kevin Giddis, managing director, fixed-income capital markets at Morgan Keegan.
American companies added 38,000 employees to their payrolls in the past month, according to data from ADP Employer Services. Economists had been expecting an increase of 175,000.
The Institute for Supply Management’s manufacturing gauge fell to 53.5% last month from 60.4% in April, marking the third straight decline and the biggest one-month drop since 1984. It’s also the lowest reading in 13 months
Economists surveyed by MarketWatch had expected the index to drop to 57.1%. Although any reading over 50% indicates that more manufacturers are expanding instead of shrinking, the index has tumbled since hitting a seven-year peak of 61.4% three months ago.
Fourteen of the 18 industries tracked by Tempe, Ariz.-based ISM expanded in May, down from 17 in April. Three industries — printing, furniture and food and beverage — contracted.
your manufacturing numbers are bassed on the USD and most add inflation to the numbers so this 50% number in manufacturing is actually less. all i can do is laugh and cry at the same time
Also dont forget the flood of graduates now hitting the market this month. Its going to be a blood bath soon
American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms.
Corporate profits have been doing extremely well for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history.
MADRID (MarketWatch) — European stock markets traded sharply lower in early action on Thursday, with banks especially responding negatively to a fresh downgrade on Greek sovereign debt, while heavy losses overnight for Wall Street also weighed on sentiment.
SYDNEY (MarketWatch) — Asian shares tumbled Thursday, after some very weak U.S. data raised questions about future demand for Asian exports and fed into worries about the trajectory of global growth