March 2021 Empire State Manufacturing Index Improves econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Wall Street mixed at the opening bell proactiveinvestors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com Daily Mail and Mail on Sunday newspapers.
February Regional Business Surveys Find Widespread Supply Disruptions this post authored by Jason Bram and Richard Deitz
Business activity increased in the region’s manufacturing sector in recent weeks but continued to decline in the region’s service sector, continuing a divergent trend seen over the past several months, according to the Federal Reserve Bank of New York’s February regional business surveys. Looking ahead, however, businesses expressed widespread optimism about the near-term outlook, with service firms increasingly confident that the business climate will be better in six months.
The surveys also found that supply disruptions were widespread, with manufacturing firms reporting longer delivery times and rising input costs, a likely consequence of such disruptions. Many firms also noted that minimum wage hikes implemented in January in both New York and New Jersey had affected their employment or compensation decisions.
The US stocks were mixed on Tuesday, 16 February 2021, with the Dow managed to hold onto a modest gain, while the broader Nasdaq and the S&P 500 slid into negative territory, as some traders opted to cash in on the recent strength in the markets.
The Dow Jones Industrial Average hit all-time highs on Tuesday as cyclical sectors gained on the prospect of more fiscal aid to lift the U. S. economy from a coronavirus-driven slump, sharp drop in new coronavirus infections, progress in vaccinations and a stronger-than-expected fourth-quarter earnings season.
At the close of trade, the Dow Jones Industrial Average index advanced 64.35 points, or 0.2%, to 31,522.75. The S&P 500 index fell 2.24 points, or 0.06%, to 3,932.59. The tech-heavy Nasdaq Composite Index dropped 47.98 points, or 0.34%, to 14,047.50.