Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
The Federal Reserve's preferred gauge of inflation over the past 12 months moved lower in January, marking modest progress toward the central bank's 2% target, the Commerce Department said Friday. The personal-consumption-expenditures price index increased by 0.3% month over month in January, putting its 12-month rise at 2.5%. That is down from 2.6% in December.The core PCE price index, which excludes volatile food and energy costs increased by 0.3% last month as well. Its 12-month increase declined to 2.6%, from a revised 2.9% a month earlier.Both numbers landed close to Wall Street...
Core consumer prices in Japan's capital rose 2.2% in February from a year earlier, data showed on Friday, slowing for the first time in four months but remaining well above the central bank's 2% target.The persistently high inflation will likely support the case for the central bank to continue its monetary policy tightening campaign.The increase in the core consumer price index (CPI), which excludes volatile fresh food costs, was slower than a median market forecast of 2.3% and a 2.5% gain in January.A separate index that strips away the effects of both fresh food and fuel costs, closely...
US President Donald Trump took to social media on Thursday, taking to Twitter to inform global markets that his planned 25% tariff package on Mexico and Canada will go into effect on March 4, rather than the April 2 date he had asserted hours earlier. The president also told markets that he planned to impose an additional 10% tariff on Chinese goods on that date. At the same time, White House officials are preparing an additional "reciprocal tariff" package that is also in the works aimed at multiple countries, potentially expanding to include the UK and the European Union in general. More...
Pending home sales in the United States fell 4.6% in January 2025 from the previous month, following an upwardly revised 4.1% decline in December 2024. This drop pushed the index to a record low of 70.6, significantly worse than market expectations of a 1.3% decline. Sales plunged 9.2% in the South, fell 2% in the Midwest and went down 1.2% in the West but rose 0.3% in the Northeast. "It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months. However, it's evident that elevated home prices and...
New orders for manufactured durable goods in the US rose 3.1% month-over-month to $282.3 billion in January 2025, the most in six months and above market expectations of a 2% increase. It follows a downwardly revised 1.8% drop in December. The rebound was driven by transportation equipment, which surged 9.8%, particularly nondefense aircraft and parts (93.9%). Orders also rose for capital goods (10.7%), primary metals (1%), machinery (0.2%), computers and electronic products (1.7%), and electrical equipment, appliances, and components (0.1%). Excluding transportation, new orders were...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
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...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...