02:30 PM EDT, 05/23/2024 (MT Newswires) -- The flash manufacturing reading from S&P Global rose to 50.9 in May from 50.0 in April after regional data from the New York and Philadelphia Federal Reserve banks were mixed and the Kansas City Fed's manufacturing index rose to minus 2 from minus 8.

The ISM's national manufacturing reading will be released June 3.

Released at the same time, the flash services reading from S&P Global rose to 54.8 in May from 51.3 in April, the strongest reading in a year. The ISM's services reading is scheduled for release on June 5.

The composite index rose to 54.4 from 51.3, a 25-month high.

New-home sales slowed to a 634,000 annual rate in April from a 665,000 rate in March, down 7.7% from the level in April 2023. Supply of new homes for sales rose by 2.1% from March and was up 12.1% from a year earlier.

The Chicago Fed's National Activity Index fell to minus 0.23 in March from minus 0.04 in February. The three-month moving average, however, improved to 0.01 from minus 0.17.

Initial jobless claims decreased by 8,000 to 215,000 in employment survey week ended May 18, but the four-week moving average still advanced by 1,750 to 219,750, a third straight increase. Initial claims were at a level of 212,000 in the employment survey week ending April 13.

Insured claims rose by 8,000 to 1,794,000 in the week ended May 11.

Natural gas stocks rose by 78 billion cubic feet to 2.711 trillion cubic feet in the week ended May 17, up 17.4% from a year earlier and 28.8% higher than the seasonal average for the current week over the previous five years.