The White House is tightening its pressure on Democratic lawmakers as the U.S. government shutdown enters its second week, saying it will give them another chance to agree on a spending bill before beginning mass layoffs of federal employees. With the Senate scheduled to vote Monday night for the fifth time on a stopgap bill to keep the government operating until November 21, Kevin Hassett, President Donald Trump's top economic adviser, argued that it's time for Democrats to be "reasonable." Trump has said he will use the government shutdown to lay off thousands more federal employees, who...
The Nikkei 225 index rose 0.2% to 37,600 while the broader Topix index gained 0.4% to 2,744 on Monday, with Japanese shares hitting a six-week high as the U.S. cited "substantial progress" in trade talks with China over the weekend in Switzerland. The U.S. highlighted efforts to reduce its trade deficit, while Chinese leaders confirmed a "significant consensus" had been reached. However, U.S. Commerce Secretary Howard Lutnick noted that the 10% base tariff on other countries is expected to remain in place "for the foreseeable future." Investors are also keeping an eye on ongoing trade talks...
Asia-Pacific markets rose on Monday on optimism that U.S.-China trade tensions could ease after the two superpowers held talks in Switzerland over the weekend. Both countries touted a positive conclusion to high-stakes trade talks, with U.S. officials touting a deal to reduce their trade deficit, while Chinese leaders said they had reached an "important consensus." U.S. Treasury Secretary Scott Bessent noted that the talks resulted in "significant" productivity gains. Meanwhile, Chinese Vice Premier He Lifeng said a joint statement containing "good news for the world" would be released on...
The Dow Jones Industrial Average (DJIA) followed the broader market lower on Friday, declining to 41,150 as investors gear up for a tense weekend. The United States (US) and China are headed for opening trade talks in Switzerland this weekend, but policymakers from both administrations have cautioned that talks will be strictly preliminary. Chinese delegates have specifically warned that a definitive deal could be months away. US President Donald Trump hit social media early on Friday, publicly musing about a potential walkback of tariffs on Chinese goods that currently stand at an...
European stocks closed firmly higher on Friday as the possibility that the US and China will de-escalate their trade war with talks this weekend supported risk-on assets. The STOXX 50 added 0.4% to 5,310 and the pan-European STOXX 600 rose 0.4% to 548. On the policy front, ECB official Olli Rehn stated that the central bank should consider cutting interest rates in the upcoming meeting provided that upcoming forecasts confirm a continued disinflation trend and weakening growth momentum. Consumer discretionary companies and utility providers led the gains after lagging behind in the previous...
Stocks in the US were higher on Friday, with the S&P 500 rising 0.4%, the Nasdaq adding 0.6% and the Dow Jones gaining about 110 points, as traders weighed signs of a potential de-escalation in global trade tensions. President Trump said an 80% tariff on China "seems right" ahead of trade talks led by Treasury Secretary Scott Bessent and Chinese counterparts in Switzerland this weekend. Earlier reports had suggested the tariff rate could be reduced to below 60%. Energy and consumer discretionary were the top performing sectors while consumer staples underperformed. Corporate earnings...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Hamas officials were in Egypt on Monday (October 6th) ahead of talks with Israel that the US hopes will lead to an end to the war in Gaza and the release of hostages, despite contentious issues such...