The Chicago Federal Reserve said on Monday its gauge of U.S. economic activity strengthened in April to its highest level since late 2014, suggesting an acceleration in production and hiring activity following an anemic first quarter.
The New York Federal Reserve said on Friday it raised its outlook for U.S. economic growth in the second quarter, citing positive surprises from industrial production and capacity utilization data in April which helped offset last month’s drop in home construction.
U.S. stocks opened higher on Friday, led by technology stocks, as a sense of calm prevailed over the financial market in a week that was dominated by political uncertainty surrounding Donald Trump's presidency.
The Fed's expected plans for rate increases may be too fast for an economy that has shown recent signs of weakness, St. Louis Federal Reserve President James Bullard said on Friday, sketching out the case for a continued go-slow approach.
U.S. stocks rose as upbeat economic data emboldened investors to return to the market on Thursday, a day after Wall Street suffered its worst selloff in eight months following a political crisis involving President Donald Trump.
Alibaba Group Holding Ltd. plans to buy back shares worth up to $6 billion over two years, the company said on Thursday, as it beat first-quarter revenue forecasts but fell short of earnings estimates.