On the data front, Initial unemployment claims rise to 260,000 For the week ended July 30, in line with Dow Jones estimates. The latest reading comes ahead of Friday’s big job report.
Data released Wednesday showed a surprising recovery in the US service sector and strong factory orders in July, alleviating concerns about the US economy and boosting stocks on the day.
Cleveland Fed President Loretta Mester on Thursday reiterated that the central bank plans to raise interest rates to combat high inflation. St. Louis Fed President Bullard said Wednesday that he does not believe the US is in recession and that the central bank will continue to raise rates to combat inflation.
“We are not in a recession right now, as the chairman said,” Bullard said.squawk box” interview.
International Trade, Loretta Mester, Fed
Source link International Trade, Loretta Mester, Fed
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