Philadelphia Fed manufacturing gauge rebounds sharply in July to highest level in a year

The numbers: The Philadelphia Fed said Thursday its gauge of business activity in its region rebounded strongly in July after hitting its lowest level in four months in June.

Any reading above zero indicates improving conditions. Economists polled by Econoday expected a 4.5 reading. Manufacturing has hit a rough patch this year, with the impact of international trade policy tensions and a strong U.S. dollar holding down activity. Industrial production has declined for two straight quarters, according to figures released Tuesday.

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Cramer explains how the Fed is creating buying opportunities'When you have a Fed chief who's hellbent on cutting interest rates … then you should own stocks that benefit from lower rates,' Jim Cramer says. The Chairman wants to raise rates. He thinks the disappointment will cause a bigger drop. How are there buying opportunities when stocks and the market don't go down or have any pullback worth buying. Cramer is corrupt. Don’t trust anything he says.
Source: CNBC - 🏆 12. / 72 Read more »