PREVIOUS TRADING DAY EVENTS 15 Sep 2023

According to the Empire State Manufacturing survey, manufacturing activity in New York State accelerated moderately in September as new orders and shipments increased.

Factory activity in the state rose to 1.9 this month from negative 19.0 in August. Readings above zero indicate expanding activity.

The indexs sixmonth outlook on capital spending weakened, being in line with expectations of slower growth and falling to 10.3 basis points from last periods 13.6 points. 

Source httpswww.reuters.commarketsusnewyorkstatefactoryactivitypicksupnewyorkfed20230915

U.S. consumer sentiment edged lower for a second month straight in September with the University of Michigans preliminary reading of its Consumer Sentiment Index dropping to 67.7 points from 69. 

The surveys barometer of current economic conditions fell, but its gauge of consumer expectations edged higher.

Household expectations for nearterm inflation fell to the lowest in more than a year.

Both shortrun and longrun expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy, survey director Joanne Hsu said in a statement.

The surveys oneyear inflation expectation fell to 3.1 the lowest since March 2021 from 3.5, while the fiveyear inflation outlook slid to a oneyear low of 2.7 from 3.0.

Source…