US consumer sentiment fell to 58.6 in August from 61.7—the first decline since April. The University of Michigan survey was conducted July 29–August 11, with tariff concerns again weighing on confidence. Full-year inflation expectations rose to 4.9%, while the 5–10-year forecast was 3.9%. Both were worse than economists' forecasts. Job concerns also increased: 62% of respondents predicted unemployment would rise. 58% planned to cut back on spending (cars, household goods, dining out), and durable goods purchasing conditions fell to their lowest in a year. Meanwhile, retail sales continued...
US stocks were firmly lower on Wednesday after the US GDP unexpectedly contracted in the first quarter, underscoring the negative initial impact of tariff threats and uncertain economic policy by President Trump. The S&P 500 fell 2%, the Dow dropped nearly 600 points, and the tech heavy Nasdaq slumped 3% ahead of earnings releases among its key members. The US GDP contracted at an annualized 0.3% in the March quarter, contrasting with expectations of a 0.3% expansion amid softer consumer spending and soaring imports to undercut tariffs, while headline and core PCE prices accelerated...
The Hang Seng rose 111 points or 0.5% to close at 22,119 on Wednesday, recovering from early declines and posting a second straight day of gains as most sectors advanced. Sentiment improved on hopes that Beijing would ramp up efforts to cushion the blow from the ongoing U.S.-China trade dispute. Tech stocks led the rally, with the sector index climbing over 1% after President Xi Jinping called for breakthroughs in AI during a visit to Shanghai. Consumer and property shares also rose on bets of policy support aimed at boosting domestic consumption. However, the benchmark fell 4.3% in April,...
European stock markets traded mostly higher on Wednesday as investors digested a wave of earnings and Eurozone GDP data. The Stoxx 600 rose 0.4%, extending its longest winning streak since January, while the Stoxx 50 was flat to slightly lower. Autos gained nearly 1%, supported by a softer stance on US automotive tariffs after President Trump signed an order reducing duties on inputs like steel and aluminum, though the 25% vehicle import rate remains. In corporate updates, Stellantis (+2.5%) suspended its full-year outlook due to trade risks. UBS (+2%) beat expectations with a $1.692B...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.57% to hit a new 1-month high. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 14.56% or 100.00 points to trade at 787.00 at the close. Meanwhile, TOTO Ltd. (TYO:5332) added 9.49% or 329.00 points to end at 3,794.00 and Tokuyama Corp. (TYO:4043) was up 7.31% or 198.00 points to 2,906.00 in late trade. The worst performers of the session were Mitsui...
(Hong Kong) As April inches towards its final trading day, the Hang Seng Index opened higher by 30 points or 0.13%, reaching 22,038 points. Concurrently, the Hang Seng China Enterprises Index dropped by 16 points or 0.2%, settling at 8,051 points, while the Hang Seng TECH Index rose by 10 points or 0.2%, closing at 5,030 points. In the tech sector, notable developments unfolded with Tencent edging up by 0.4%, Alibaba climbing by 1.2%, Meituan seeing no significant change, Xiaomi Group declining by 0.4%, JD.com slipping by 0.1%, and Kuaishou ascending by 0.1%.Following the release of...
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 he would set levies on semiconductors in the coming two weeks, the latest indication he's readying a substantial expansion of his tariff regime.
"I'll be...