Dallas Fed Manufacturing Index Rises To -2.7; SP500 Settles Near 6000

On November 25, 2024, the Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report.

The report indicated that Dallas Fed Manufacturing Index improved from -3 in October to -2.7 in November, compared to analyst consensus of -2.4.

Production index declined from 14.6 in October to -0.9 in November, while New Orders index decreased from -3.7 to -11.9.

The report showed that moderate upward pressure on wages and prices remained in November. Businesses expect increased manufacturing activity six months from now.

Today, traders also had a chance to take a look at the Chicago Fed National Activity report. The report showed that Chicago Fed National Activity Index decreased from -0.27 in September to -0.40 in October, compared to analyst forecast of -0.20.

U.S. Dollar Index remained under pressure as traders reacted to the Dallas Fed Manufacturing Index report. Currently, U.S. Dollar Index is trying to settle below the 106.75 level. From a big picture point of view, forex traders take profits after the strong rally.

Gold is down by 3% as traders focus on recent reports indicating that Israeli cabinet will meet tomorrow to discuss a ceasefire deal with Hezbollah.

SP500 settled near the 6000 level as traders focused on the economic data.

For a look at all of today’s economic events, check out our economic calendar.