U.S. Economic News
August 10, 2017
U.S. Economic Indicators
Initial jobless claims rose 3,000 to 244,000 last week. The four-week moving average fell 1,000 to 241,000. DOL Report
The headline Producer Price Index (“PPI”) for final demand edged down 0.1% in July and is up 1.9% since July of last year. The core — which removes the volatile prices of food, energy, and trade services — was unchanged and is up 1.9% on the year. BLS Report
U.S. News
According to the Wall Street Journal, wells in Texas’ Permian Basin are producing more gas and natural gas liquids than expected. Companies operating in the area have begun to worry that oil production may be tapering off due to the elevated levels of gas output, though some investors say oil volumes have shown no signs of declining so the gas is purely additive. WSJ
Landon Thomas Jr. of the New York Times writes that despite the near-record calm in financial markets, there are signs that investors are becoming more cautious. Thomas points to strong gains in the price of gold this year as geopolitical tensions have escalated around the globe, driving some investors away from equities. NYT
The Wall Street Journal reports that U.S. department stores observed continued declines in sales in the second quarter, though at a slower pace than expected. While some major U.S. department stores have invested in e-commerce to combat lower foot traffic, the initiatives have not been enough to counter falling demand. WSJ