03:46 PM EDT, 09/24/2024 (MT Newswires) -- Manufacturing activity in the US Mid-Atlantic region logged a surprise decline into deeper contraction territory this month as shipments and employment deteriorated further, data released Tuesday by the Federal Reserve Bank of Richmond showed. The composite index fell to minus 21 in September from minus 19 in August. The consensus was for an...

01:41 PM EDT, 09/24/2024 (MT Newswires) -- US equity indexes rose after consumer confidence fell the most in three years and a regional manufacturing gauge deteriorated, calling into question Federal Reserve Governor Michelle Bowman's stance favoring a measured approach to monetary policy. After midday Tuesday, the S&P 500 index rose 0.2% to 5,732.5, and the Nasdaq Composite climbed 0.6% to...

American homeowners and prospective buyers had been biding their time, waiting for a decisive move from the Federal Reserve to reignite the mortgage market. That moment came on Sept. 18, when the Fed’s large and unexpected 50-basis-point rate cut—bringing the target range to 4.75%-5%—opened the floodgates for mortgage refinancing and home purchases. According to the Mortgage Bankers Association (MBA), applications...

02:31 PM EDT, 09/24/2024 (MT Newswires) -- The Conference Board's Consumer Confidence Index fell to 98.7 in September from 105.6 in August on large declines in both the present situation and expectation readings. The Conference Board said that present and future assessments of business and employment conditions deteriorated with particular concern among those on the lower end of an income...