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...
Asia-Pacific markets traded mixed Thursday, tracking gains on Wall Street as a possible thaw in U.S.-China trade war fuels investor optimism. Japan's benchmark Nikkei 225 rose over 1%, extending the previous day's gains. The Topix added 0.81%. South Korea's Kospi slipped 0.47% while the small-cap Kosdaq dipped 0.15%. Australia's S&P/ASX 200 rose 0.56%. Hong Kong's Hang Seng index slipped 0.29% while mainland China's CSI 300 traded flat.South Korea's GDP contracted 0.1% in the first quarter of 2025, according to advance figures released Thursday, missing the 0.1% rise expected by a...
U.S. stocks closed higher on Wednesday, with the S&P 500 up 1.7%, the Nasdaq up 2.5% and the Dow up 419 points, as easing U.S.-China trade tensions and President Trump's assurance that he would not remove Fed Chairman Jerome Powell boosted sentiment. However, all three indexes fell from their highs as investors questioned whether a trade resolution was truly in sight. Treasury Secretary Bessent noted that Trump had not proposed unilateral tariff cuts and that talks with China had not yet begun, dampening early optimism. The remarks followed the president's remarks that tariffs might not...
European stocks closed sharply higher on Wednesday, tracking strong momentum in equity markets around the world after the US administration signaled that tariffs on China were likely to be eased in the near future. The eurozone STOXX 50 closed 2.8% higher at 5,100 and the pan-European STOXX 600 gained 1.8% to close at 517. Remarks opposing the duration of the 145% tariffs on China were made by US President Trump and Finance Minister Bessent, who expressed confidence that there would be no long-term trade embargo during the administration. The signals boosted risk assets around the world,...
Wall Street's main indexes rallied at the open on Wednesday after U.S. President Donald Trump dialed back on his threats to fire Federal Reserve Chair Jerome Powell and raised hopes for a trade deal with China. The Dow Jones Industrial Average (.DJI), rose 628.0 points, or 1.60%, at the open to 39,815.01. The S&P 500 (.SPX), rose 108.2 points, or 2.05%, at the open to 5,395.92, while the Nasdaq Composite (.IXIC), rose 579.9 points, or 3.56%, to 16,880.29 at the opening bell. Source: Reuters
The Hang Seng jumped 510 points or 2.4% to close at a more than 3-week high of 22,073 on Wednesday, rising for a third session. The rally followed a surge in U.S. futures after President Trump said he had no plans to fire Fed Chair Powell and signaled the possibility of lower tariffs on China. Trump also backed off earlier threats to remove Powell, having recently urged the Fed to cut interest rates. Financials, consumer, and tech stocks posted solid rises of 2% to over 3%, as investors looked ahead to the upcoming Politburo meeting for clearer policy direction. Citi noted the session...
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...