hapabapa/iStock Editorial via Getty Images The Schwab Trading Activity Index (“STAX”), a gauge that analyzes retail investor stock positions and trading activity from Charles Schwab’s (NYSE:SCHW) client accounts, jumped to 54.71 in June from 49.05 in May, pulling it up to the “moderate” range. Overall, Schwab’s (SCHW) clients were netContinue Reading
Igor Kutyaev The Caixin China General Services PMI declined to 51.2 in June 2024 from May’s 10-month high of 54.0, below forecasts of 53.4, expanded for the eighteenth consecutive month, although at its softest pace in eight months, as new orders and export order growth eased. The Caixin China GeneralContinue Reading
ArtistGNDphotography/E+ via Getty Images Citi downgraded home builders Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) to Neutral from Buy on softening housing activity this summer. The analysts trimmed both LEN’s and DHI’s estimated EPS for FY24. For both LEN and DHI, Citi said it sees limited near-term catalysts for the stockContinue Reading
Ramberg/E+ via Getty Images Manufacturing PMI in France dropped to 45.40 points in June from 46.40 points in May 2024, indicating a solid and accelerated pace of decline in the manufacturing sector. Consensus estimates were at 45.3. Key findings include: new orders decrease at quicker pace, weighing on production; acceleratedContinue Reading
Igor Kutyaev The official NBS Manufacturing PMI in China shows the manufacturing activity remained in contraction for the second straight month, signaling the need for additional stimulus measures as China strives to regain economic stability. Meanwhile, the services sector remained in expansion but slowed to a six-month low. China’s manufacturingContinue Reading
Jun. 25, 2024 8:32 AM ETBy: Liz Kiesche, SA News Editor peterhowell/iStock via Getty Images May Chicago Fed National Activity Index (“CFNAI”): +0.18 vs. -4.0 expected and -0.25 in April (revised from -0.23). Three-month average (“CFNAI-MA3): -0.09 vs. -0.05 prior (revised from +0.01). Three of the four broad categories ofContinue Reading
