Meantime, homebuilder sentiment hit the lowest in 2023. Factory production fell by more than expected, largely reflecting a strike-related pullback in activity at automakers and parts suppliers. unemployment benefits rising to the highest in almost two years. Wall Street kept a close eye on another batch of economic data on Thursday, with continuing applications for U.S. Oil tumbled below US$73 a barrel - the lowest since July. slumped amid a cautious tone on the outlook for consumers, while Macy’s Inc. Following a torrid rally that sent American stocks near “overbought” levels, the S&P 500 was little changed. Ten-year yields fell eight basis points to 4.45 per cent. Treasuries climbed after the latest economic figures underscored a gradual slowdown, reinforcing speculation the Federal Reserve will end its most-aggressive hiking campaign in decades.
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