All articles tagged with #empire state manufacturing index
U.S. stock-index futures pointed to a subdued start as Wall Street reopened after the Presidents’ Day holiday, with the S&P 500 down 0.1%, the Nasdaq Composite off about 0.4%, and the Dow Jones Industrial Average up roughly 0.3%, as traders weigh the February Empire State Manufacturing Index and other data in search of direction.
The Empire State Manufacturing Index saw a significant drop to -43.7, with new orders plummeting to -49.4, indicating a sharp decline in business activity in New York State. The report also revealed decreases in shipments, unfilled orders, and employment, while input prices increased. Despite some optimism for future business conditions and capital spending, concerns about excessive optimism and recent negative economic indicators suggest the possibility of an impending recession.