Manufacturing activity expands

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 24 January 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks close mixed; new manufacturing orders pick up; business optimism increases; mortgage applications rise

Transcript

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0:00.0	This is the Marketplace Minute.
0:03.7	I'm Justin Ho.
0:05.2	Stocks were mixed on Wednesday.
0:07.2	The Dow fell a quarter of a percent, but the S&P rose a tenth of a percent,
0:11.7	and the NASDAQ added a third of a percent.
0:14.8	The manufacturing sector expanded in January for the first time in nine months, that's according
0:19.0	to S&P Global.
0:20.4	It says new orders picked up at the fastest pace since May of 2022.
0:24.0	The same report found that activity in the services sector hit a seven month high.
0:28.0	That was mostly because demand increased.
0:31.0	The report also found that companies expect even more demand in the coming months.
0:35.0	As a result, many invested in new equipment.
0:38.0	Overall, S&P says businesses are more optimistic about the coming year.
0:42.0	And the number of mortgage applications
0:44.2	rose almost 4% last week from the week before, according to the Mortgage Bankers
0:48.1	Association. The average rate on a 30-year fixed mortgage rose, but it's still
0:52.3	below 7%.
0:54.3	I'm Justin Ho, with the Marketplace Minute. You're going to.

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