The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, beating forecasts of 50.8, pointing to the strongest expansion in the services sector since February. Both business activity (54.3 vs 49.9) and new orders (56.2 vs 50.4) rebounded while the continued contraction in employmet (48.2 vs 47.2) shows a lack of confidence in the continued strength of the economy. "There was no indication of widespread layoffs or reductions in force, but the federal government shutdown was mentioned several times as impacting business activity and generating concerns for future layoffs",...
President Donald Trump announced the first in a series of letters threatening higher tariffs on major trading partners, including 25% tariffs on goods from Japan and South Korea, and signed an executive order delaying the new duties until Aug. 1. Trump also announced 25% tariffs on Malaysia, Kazakhstan and Tunisia, while South Africa will face 30% tariffs and Laos and Myanmar will face 40% tariffs. Other countries hit with tariffs include Indonesia with 32% tariffs, Bangladesh with 35% tariffs, and Thailand and Cambodia with 36% tariffs. Bosnia received 30% tariffs, while Serbia faced 35%...
President Donald Trump announced 25% tariffs on goods from Japan and South Korea starting Aug. 1, as he moves to impose unilateral tariffs on countries that have not reached trade deals with his administration. The two Asian countries were the first announcements in what the president promised would be a series of trade demands and deals announced Monday. Trump's hasty efforts to overhaul U.S. trade policy in his second term have been a source of persistent uncertainty for markets, central bankers and executives trying to gauge the impact on production, inventories, hiring, inflation and...
The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday, ahead of a U.S. deadline on Wednesday to finalize trade pacts. "We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals," Bessent said in an interview with CNBC. "So it's going to be a busy couple of days." President Donald Trump said the United States would start delivering tariff letters from 12:00 pm ET (1600 GMT) on Monday. The letters would not necessarily provide...
President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday. With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive "America First" approach of the U.S. president, the BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In a joint statement from the opening of the BRICS summit in Rio de Janeiro released on Sunday...
U.S. President Donald Trump on Sunday lashed out against former confidant Elon Musk over the latter's plans to form a third political party in the country, furthering a bitter public feud between the two. In a long, rambling post on Truth.Social, Trump said he was "saddened to watch Elon Musk go completely ‘off the rails'," while criticizing the Tesla (NASDAQ:TSLA) CEO's plans for a new political party. "He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States… The one thing Third Parties are good for is the creation of Complete...
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...
American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop...