Dallas Fed Manufacturing Business Index for May 0.40 vs -2.30 last month

• Prior month -2.3
• Dallas Fed Manufacturing Business index for May 0.40 vs -2.30 last month.

Details of the report:

• Production index fell 10 points to 9.4, still signaling modest manufacturing expansion.
• Capacity utilization index dropped 15 points to 5.2.
• New orders index declined 4 points to 6.4.
• Shipments index fell 8 points to 7.4.
• General business activity index edged up to 0.4 from negative territory, signaling little change in overall activity.
• Company outlook index slipped to 0.3 from 3.0, indicating stable business sentiment.
• Outlook uncertainty index held relatively steady at 19.2, remaining above the long-run average of 16.9.
• Employment index was unchanged at 0.2, pointing to flat payroll growth.
• Hours worked index declined to 1.8 from 4.0.
• Raw materials prices index rose 6 points to 42.7, the highest level in eight months.
• Finished goods prices index fell 9 points to 18.9, signaling easing selling price pressures.
• Wages and benefits index was little changed at 23.6.
• Future production index remained strong at 36.8, signaling expectations for stronger activity six months ahead.
• Future general business activity index held steady at 14.3.
• Other future manufacturing activity indexes also remained in positive territory

Looking at the gainers and decliners:

• Indexes that increased: 5
  • General business activity
  • Raw materials prices
  • Outlook uncertainty
  • Future production
  • Future manufacturing activity indexes remained positive/stable
• Indexes that declined: 8
  • Production
  • Capacity utilization
  • New orders
  • Shipments
  • Company outlook
  • Hours worked
  • Finished goods prices
  • Employment (flat/slightly weaker tone)
• Indexes essentially unchanged/stable: 4
  • Employment index
  • Wages and benefits
  • Future general business activity
  • Broader business conditions overall

The Nasdaq 100 traded to 30K for the first time ever. The Nasdaq composite index is up 1.37%. The S&P is up 0.80%. The Dow is now in negative territory at 50574 after trading as high as 50791.08.

For the full report, CLICK HERE

This article was written by Greg Michalowski at investinglive.com.