Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers. "Due to a cooling issue at the CyrusOne data center, our markets are currently suspended," a CME spokesperson said in an emailed statement early Friday morning. "Our support team is working to resolve this issue and will update clients with pre-open details as soon as they are available." The CME the world's largest exchange operator by market value trades futures and options contracts for a variety of asset classes, including agricultural commodities,...
US President Donald Trump has rekindled economic debate after stating that his administration could eliminate the income tax entirely and replace it with revenue from import tariffs. According to Trump, increasing tariffs on foreign goods could generate significant government revenue, making it a primary source of federal revenue without burdening citizens with income taxes. This statement immediately drew scrutiny from economists and market participants. Some considered the idea overly ambitious, given that income taxes are one of the US government's largest sources of revenue. Relying on...
The ISM Manufacturing PMI for the US fell to 48.2 in November 2025, the lowest in four months, compared to 48.7 in September and below forecasts of 48.6. The reading showed that the manufacturing sector contracted for the ninth consecutive month and at a faster pace, led by pullbacks in supplier deliveries (49.3 vs 54.2), new orders (47.4 vs 49.4) and employment (44 vs 46), with 67% of panelists (the same as October) indicating that managing head counts is still the norm at their companies, as opposed to hiring. Also, price pressures intensified (58.5 vs 58) and backlog of orders decreased...