Ford Motor Co., General Motors Co., Fiat Chrysler Automobiles NV and Nissan Motor Co. They received one of the lowest results in the annual review of relations with suppliers published by independent consultancy agency. Toyota Motor Corp. and Honda Motor Co. They took the highest ratings. The study highlights how strained relations with manufacturers of spare parts can be financially challenging for automakers. Suppliers usually give their latest developments of the car manufacturers which have the best working relationship.
Gold continued to fall today, extending the moderate decline after the report on applications for unemployment benefits, which again posted a higher than expected drop. Gold fell 0.9% to 1 175.01 dollars an ounce for the day so far. The data strengthened expectations for a strong employment report tomorrow in the non-agricultural sector, say analysts. This would confirm the scenario of an early increase in interest rates – potentially negative for gold.
Index Ivey PMI, which reflects activity among managers of large Canadian companies, has jumped to 62.3 points in May, accompanied by seasonal adjustment, suggesting that the activity has expanded from April. The index measures changes in economic activity, according to the responses of a panel of inquiry among managers throughout the country and is sponsored by the Richard Ivey School of Business. Values above 50 indicate positive development. Employment sub-index reached 51.8 points in May, while the producer prices – 64.4 points.
Industrial production in the US decreased by 0.3% in April, announced today the US Federal Reserve. The revised central bank data show a fifth consecutive monthly decline in factory output. Economists had expected submission remain unchanged, as happened with the production sub-index. When excluding the automotive sector, production decreased by 0.1%. Capacity utilization in enterprises has fallen to 78.2% compared to 78.6% in March, which is a sign of weak pressure on commodity prices.
The number of Americans filed applications for receiving unemployment benefits rose by 3,000 to 265,000 last week, remaining near 15-year lows. Analysts had expected the index to rise to 279,000 by not the revised 262,000 for the previous seven days. The average for the last 4 weeks, which is considered free of seasonal fluctuations indicator, fell by 4250 to 279,500 applications – the lowest level since May 2000 data supported the dollar and gold fell 0.6 percent to below 1180 dollars an ounce. EUR / USD fell by 0.9% overall for the day so far.
Shares of Tesla Motors Inc. fell 4.4% in the preliminary trade today after analysts came up with estimates of the report with the quarterly results of the company published after the end of the regular session yesterday. By Morgan Stanley remain focused on the rate at which Tesla spent its cash resources, suggesting impending release of the Model X SUV this summer. Analysts believe that by Tesla could be a drain current gross funds of 1.5 bln. Dollars for about three quarters. This will make a capital intervention desirable and even indispensable comment from Morgan Stanley.
US currency and stocks fell after preliminary data on consumer confidence in the United States, published by the University of Michigan for May, clashed seriously with analysts’ expectations and showed a decline to 88.6 points compared to the forecast of 96. The preliminary value is a 7-month low for the indicator, which reached 95.9 points in April. Economists monitor confidence report for landmark on US consumption, which is the main driving force of the economy. EUR / USD pair rose by over 0.4% to over 1.14, while gold for immediate delivery rose to 1 222.04 per troy ounce.
By Priceline Group Inc. today gave a weak outlook for the financial development of the company in the current quarter as the rising US dollar continues to restrict growth, although the company reported better-than-expected profit and revenue in the first quarter of 2015. The provider of online travel services warned in recent months that their profits outside the US will decline after translates into dollars because of strong US currency against the euro and the British pound. Shares of Priceline Group Inc. fell 3.4% in pre-trading today.
Toyota Motor Corp. download 637 000 cars in the United States as part of a massive campaign to replace potentially defective and dangerous airbags manufactured by Takata Corp. The cars pull replacement within three separate campaigns. Over 36 million cars equipped with airbags Takata, were invoked to change by the middle of 2009. worldwide.
• Today before noon will be published preliminary PMI indices for the sphere of production and services for the main eurozone countries. Expected in May all indicators except those for France to be above the critical level of 50 points separates growth from contraction. Better than expected figures would undoubtedly have supported the euro.
• At 11:30 am. The United Kingdom will be posted retail sales, an important indicator of consumer spending, since they represent about 2/3 of GDP. Expected metric grew by 0.4% in April from the previous month, when it fell 0.5%. Better values will be in support of the British pound.
• At 15:30. Will be announced applications for unemployment benefits in the US last week. It is envisaged that they were more in 6000 and reached 270 000. A smaller than expected number of applications submitted would the dollar rose.
• After the regular US session scheduled financial results of technology company Hewlett-Packard Co. for the second fiscal quarter (end of April). Analysts expect earnings per share to fall to 0.86 dollars to 0.88 dollars for the same period last year.