Fed raises target rates by 25 bps
March 21, 2018 Based on data collected by The Federal Reserve since the Federal Open Market Committee met in January indicates that the US economy has shown improvement with activity on the rise. Labor market continued to strengthen while economic activity has risen at a moderate rate. Unemployment rate stayed low in recent months. Data suggests household spending and business fixed investment growth rates have moderated from their strong fourth-quarter readings. Despite continuing improvement in economic activities, both overall inflation and core inflation continued to run below 2 percent. “Inflation on a 12 –month basis is expected to move up
Daily Market Summary March 21, 2018
Daily Market Summary 21.03.18 The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any Action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
CAC reports first quarter net loss of $2.23 million
March 21, 2018 CAC 2000 Limited revenues for the first quarter decreased by 21% to $239.51 million compared to $301.88 million recorded for the same period for the prior financial year. Management noted, “the portfolio of open jobs on hand and quotation activity was down (colder weather and persistent rain diminishing the demand for personal air conditioning). Management however noted, “the good news is that we expect to recover most (if not all) of this revenue shortfall in the second quarter as we won over $450M of new projects in this quarter (vs $72M in the same period last year)