Philadelphia Federal Reserve news stories on Newser

Data Boosts Stocks, Dow Up 71

Nick McMaster — Thu, 20 Aug 2009 15:30:19 CDT

Stocks advanced today on positive economic news from the Philadelphia branch of the Fed, the Wall Street Journal reports, which said that its index of business activity registered a 4.2 in August, up from a negative 7.5 in July. Investors were specifically encouraged by a rise in the...

Durable Goods, New Homes Take Hit in February

Kevin Spak — Wed, 26 Mar 2008 11:21:00 CDT

Durable goods took an unexpected tumble in February, the Commerce Department announced today, with a 1.7% drop headlining a raft of bad economic news. Analysts expected a 0.8% increase. “Businesses definitely have shown they are beginning to retrench,” one analyst told Bloomberg. “Demand is weakening.” New-home sales, meanwhile,...

Dow Jumps 261, Ends Week Up

Nick McMaster — Thu, 20 Mar 2008 15:54:15 CDT

Stocks enjoyed a steady rally today off of surprisingly good manufacturing data and renewed investor confidence in Fannie and Freddie Mae, achieving the first weekly gain in a month, since the market is closed tomorrow, the Wall Street Journal reports. The Dow rose 261.66 points, ending at 12,361....

Stocks Bearish on Factory Data

Nick McMaster — Thu, 21 Feb 2008 15:45:59 CST

Energy and industrial shares led the markets on a decline that saw all the major indexes fall more than 1%, MarketWatch reports. A drop in oil prices hurt energy stocks, and the Philadelphia Federal Reserve said regional manufacturing had contracted. The Dow fell 142.96 points to 12,284.30,...