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Honolulu Star-Advertiser·Nov 3, 202658 signal

U.S. job openings jump as resignations surge

WASHINGTON >> U.S. job openings surged in September while layoffs fell to the lowest level in 1-1/2 years, supporting economists’ views that the labor market remained on firmer footing despite tepid employment gains during that month.

Economy
Semafor·Nov 3, 202645 signal

Blue wave could rattle markets

Analysts are warning that a strong Democratic showing in today’s midterms could drag down markets as investors brace for tougher tech oversight and tenser fiscal negotiations. They also acknowledge it’s...

Economy
Foreign Policy·Nov 3, 202645 signal

Chinese AI Stocks Are Slumping, Too

Welcome to Foreign Policy’s China Brief. The highlights this week: China grapples with a slowly deflating artificial intelligence bubble, officials in Beijing keep their eyes on the U.S. midterms, and China...

Economy
Mortgage News Daily·Nov 3, 202645 signal

Mortgage Rates Move Slightly Higher After Stronger Econ Data

Well... they can't all be winners. It seems as if rates could do no wrong over the past 3 days with each marking the lowest level in more than a month for the average top tier 30yr fixed rate. Today wasn't a winner, but it wasn't exactly bad. Apart from the past 3 days, today would still have been the lowest rate in more than a month, and it was only 0.03% higher to boot. So what happened? First off, when we're talking about a 0.03% change day-over-day, it's not particularly important to investigate causation because that level of movement falls in the incidental category. Nonetheless, there was some obvious motivation this morning in the form of stronger economic data.  Job openings data for the month of September was released today. It was the highest in 4 months and quite a bit higher than expected. All else equal, stronger labor market data tends to put upward pressure on rates. Tech stocks were also modestly higher today, and weakness in the tech sector has been a key factor driving persistently lower rates over the past several weeks.

Economy
Haver Analytics·Nov 3, 202649 signal

Even the weather is inflationary

Our global data offering is unparalleled in terms of coverage, quality, and organization. We offer 290+ databases from 2500 government and private sources, a wealth of key survey and forecast data covering...

Economy
Taipei Times·Nov 3, 202645 signal

Lai touts Taiwan’s economic resilience

President William Lai (賴清德) yesterday touted Taiwan’s economic resilience, with the stock market ranking fourth globally and assets under management reaching NT$48.38 trillion (US$1.48 trillion), and pledged to further develop and internationalize the nation’s financial markets.Speaking at the Taiwa

Economy
investingLive·Nov 3, 202645 signal

US September factory orders +1.8% vs +1.2% expected

Prior factory orders +0.1%Factory orders excluding transportation +0.5% vs +0.3% priorDurable goods orders revisions +1.9% vs +1.8% prelimDurable goods excluding transportation revisions +0.5% vs +0.5% prelimDurable goods excluding defense +2.3% vs +2.2% prelimNondefense capital goods orders excluding aircraft +0.6% vs +0.5% prelimThis is a decent report and shows some momentum in factories but it's overshadowed by a jump in the JOLTS number released at the same time. US yields are moving higher in the aftermath of both and USD/JPY is at the highs of the day at 158.37.For background, the US Census Bureau’s factory orders report, formally the full report on Manufacturers’ Shipments, Inventories and Orders, is released monthly at 10 am ET, about five weeks after the reference month ends. It arrives roughly a week after the advance durable goods report and expands on it by adding nondurable goods. The headline figure is the monthly change in total new orders for manufactured goods. Nondurables include petroleum and coal products, chemicals, food, paper and plastics. For most nondurable industries, orders are essentially equal to shipments because products aren’t built to order with a backlog. That means swings in oil and commodity prices feed straight into the nondurables figures, since refined petroleum products make up a large share. Markets also look at factory orders excluding transportation, which strips out the volatile aircraft and motor vehicle categories. The report includes revised durable goods data, which sometimes differ meaningfully from the advance estimates. Economists pay close attention to revisions to core capital goods orders and shipments, nondefense capital goods excluding aircraft. Shipments of those goods feed into the equipment investment component of GDP, and the revised figures can shift growth estimates. The release also covers manufacturers’ inventories, unfilled orders and the inventory-to-shipments ratio. These offer a read on whether factories are building or drawing down stock and how much work they have in the pipeline. Because most of the durables data are already known and nondurables largely track commodity prices, factory orders rarely move markets. Its value is in completing the manufacturing picture and providing the revisions that feed into GDP tracking.

Economy