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Real-time News
November 3rd - An analysis of the US ISM Manufacturing PMI report indicates that US manufacturing activity contracted for the eighth consecutive month in October, dragged down by declining output and weak demand. Data shows that the US ISM Manufacturing Index fell 0.4 points to 48.7, and the Production Index dropped 2.8 points to 48.2, marking the second contraction in output in the past three months. This also dragged down employment, with the ISM Employment Index contracting for the ninth consecutive month. Meanwhile, inflationary pressures continued to ease. The Raw Materials Purchasing Price Index fell 3.9 points to 58, the lowest level since the beginning of the year. Twelve manufacturing sectors contracted in October, with textiles, apparel, and furniture performing the weakest. Six sectors, including basic metals and transportation equipment, saw growth. The survey shows that US manufacturers are generally in a slump, still grappling with trade policy uncertainty. The ISM Supplier Delivery Index rose to a four-month high, indicating longer delivery times. Orders declined for the second consecutive month, but the rate of decline slowed. Manufacturer inventories saw their largest drop in a year. Customer inventories also remained low, suggesting that orders may have some room for recovery.UBS raised its price target for Berkshire Hathaway (BRK.BN) from $593 to $595.UBS raised its price target for Berkshire Hathaway (BRK.AN) from $890,002 to $892,758.Federal Reserves Goolsby: The economy is "quite robust" driven by consumers.Federal Reserves Goolsby: The economy is strong overall, with only a few sectors showing weakness.
