A report released by the Federal Reserve Bank of Philadelphia on Thursday showed regional manufacturing activity unexpectedly weakened in the month of May. The Philly Fed said its diffusion index for current general activity plummeted to a negative 0.4 in May from a positive 26.7 in April, with a negative reading indicating contraction.
New residential construction in the U.S. pulled back sharply in April but still came in well above economist estimates, according to a report released by the Commerce Department on Thursday. The Commerce Department said housing starts slumped by 2.8 percent to an annual rate of 1.465 million in April after soaring by 12 percent to an upwardly revised rate of 1.507 million in March.
The Labor Department released a report on Thursday showing first time-claims for U.S. unemployment benefits unexpectedly edged lower in the week ended May 16th. The report said initial jobless claims dipped to 209,000, a decrease of 3,000 from the previous week's revised level of 212,000. Economists had expected jobless claims to inch up to 213,000.
Parker-Hannifin Corp. (PH) Thursday announced an agreement to acquire the commercial and defense aerospace business of Circor International, Inc. for $2.55 billion. The purchase price, net of expected tax benefits, represents 22.7x Circor Aerospace's calendar year 2026 estimated adjusted EBITDA. Parker...
The European Commission downgraded its growth outlook for the euro area economy citing the unprecedented disruption to global energy markets due to the conflict in the Middle East. In the Spring Economic Forecast, the commission said the currency bloc is set to grow 0.9 percent this year, slower than the 1.2 percent projected earlier. The forecast for next year was trimmed to 1.2 percent from 1.
UN General Assembly has adopted a resolution welcoming the advisory opinion of the International Court of Justice on the obligations of States in respect of climate change. The resolution calls on all UN Member States to take all possible steps to avoid causing significant damage to the climate and...
Following the rally seen in the previous session, stocks may move back to the downside in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.3 percent. The downward momentum on Wall Street comes amid a sharp...
Retail behemoth Walmart Inc. on Thursday issued positive second-quarter outlook, and maintained fiscal 2027 outlook, after reporting higher results in its first quarter. eCommerce revenues climbed 26 percent globally with strength across segments. Meanwhile, the shares were losing around 3 percent in pre-market activity on Nasdaq.
The United States has signed agreements with three allied countries to enable them to procure counter-unmanned aerial system capabilities through the Joint Interagency Task Force 401 drone defense marketplace. Army Secretary Dan Driscoll signed agreements on behalf of the Pentagon with key leaders...
The Market sentiments continue to be influenced by the Middle East conflict as U.S.-Iran peace talks are yet to reach a consensus. The initiative to break the deadlock and launch new peace talks has failed to find a way forward. Oil prices were little changed in the Asian trading session. Brent crude...
The U.S. Food and Drug Administration issued warning letters to eight retailers for selling unauthorized tobacco products, including nicotine pouches and dissolvable tobacco products. The warning letters involve unauthorized tobacco products that have labeling, advertising, and/or design features...
The U.S. Justice Department has announced criminal charges against former Cuban leader Raul Castro, including conspiracy to kill U.S. nationals, over the 1996 shootdown of two U.S. civilian aircraft over international waters between Cuba and Florida. The 94-year-old Castro has been accused of ordering the shoot down of two planes belonging to the Cuban-American group Brothers to the Rescue on Feb
The euro area private sector registered a renewed contraction in April as the war in the Middle East took its toll on business activity, flash survey data from S&P Global showed Thursday. The flash composite output index logged 47.5 in May, down from 48.8 in the previous month. The score was expected to remain stable at 48.8.
National Weather Service has warned the offset of heavy rainfall from the Southern Plains into the Mississippi Valley Thursday, peaking in intensity over the holiday weekend. Widely scattered thunderstorms are expected to develop across eastern Colorado Thursday afternoon and evening. Large hail...
European stocks were flat to slightly higher on Thursday as investors digested Nvidia's strong earnings and monitored peace talks between the United States and Iran. As Iran reviews a new U.S. proposal to resolve the Middle East conflict, U.S. President Donald Trump said that negotiations could yield...
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.