The dollar is up in comparisons with major currencies during analysis on Friday evening. The numbers show that slow foreign economic growth is assisting the climb of the dollar. The Australian dollar was at a six-year bottom after poor trading new in Asian Markets. The US economy has a new test on the horizon as the Federal Reserve has indicated that they see enough strength to end the bottomed out interest rates that have persisted since the Great Recession. The Chinese Purchasing Manager Index (PMI) has had a lower rating since April of last year. The latest PMI dropped to a recent low of 48.2. The 53.7 PMI for the euro zone fell from a high that had been sustained for four years. The euro is 0.05 percent down to $1.0977. The central bank of the US presented a projection on Friday of a quarter point increase in rates.
Analysts are not in agreement regarding the certainty of the Feds desire to raise rates. Continuing fluctuation in the Chinese markets will likely keep the rates low and prevent any increases well into 2016. They are also betting that continue drops in the oil and commodity markets will prevent increases as well. The housing market has been considered to be recovered from the recession, but on Friday there was a considerable drop in the sale of new homes. Between the housing market, oil and commodities, and fluctuations overseas there are many factors that are affecting the stability of the US economy. The reality is, that while the US economy is moving, it is far from its past strength.
STOCK NEWS: Movers, Shakers, and Breakers Edition
Amazon (NASDAQ:AMZN) closed with a gain of +9.80%. The gain is partly attributed to a larger than expected profit. The company had gains of close to 19% and hit an intraday best after the apparently very successful Prime Day Sale that was heavily promoted for several weeks prior to the event.
The biotech firm Biogen Inc. (NASDAQ:BIIB) closed at -22.08% after being down 22%. It posted after weaker than expected reports regarding projected second-quarter result growth. It also reported that it would be cutting its revenue outlook for the remainder of 2015.
Travel platform, TripAdvisor Inc., (NASDAQ:TRIP) had a poor showing and ended the day down -13.40%. These losses are a result of its second-quarter profit reports that fell 13% and revenues that missed the mark. The company’s shares fell 9%.