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",...
US President Donald Trump said he warned Israeli Prime Minister Benjamin Netanyahu against a military strike against Iran that could disrupt efforts to broker a deal on Tehran's nuclear program. "I told him this would be inappropriate to do right now, because we're very close to a solution," Trump told reporters Wednesday. "Now that could change at any moment — could change with a phone call, but right now, I think they want to make a deal." The US president added that he believed a deal with Iran could be completed within "the next couple of weeks" and that talks had...
DUBAI, United Arab Emirates Deep in the oil-rich deserts of the Middle East, the United Arab Emirates is on a mission to establish supremacy in the field of artificial intelligence. Seven thousand miles across the planet, the United States, led by President Donald Trump, wants American firms to dominate the global AI race. While their goals may be separated by continents, their ambitions are strikingly aligned. The U.S. currently makes the world's most advanced semiconductor chips, while the UAE and neighboring Gulf countries have the abundant, cheap energy needed to power enormous AI...
Euro zone consumers raised their inflation expectations in April but kept a steady view on price growth further out, highlighting elevated uncertainty amid a global trade war, the ECB's Consumer Expectations Survey showed on Wednesday. Households see inflation at 3.1% over the next year, above the 2.9% predicted a month earlier and also well above the ECB's 2% own target. That reading, however, goes counter to the ECB's own projections that price growth was set to slow given weak economic growth, muted wage increases, lower energy costs and a stronger euro. This combination of muted price...
U.S. President Donald Trump said on Tuesday that it would cost Canada $61 billion to be part of his proposed "Golden Dome" missile defense system, but that it would be free if the country became the 51st U.S. state. "I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation, but will cost ZERO DOLLARS if they become our cherished 51st State," Trump said in a post on Truth.social, claiming that Canada was "considering the offer." Trump's comment comes after Canadian Prime Minister...
New York Federal Reserve President John Williams said on Wednesday central banks must "respond relatively strongly" when inflation begins to deviate from their target. Given high uncertainty around the economic impact of U.S. tariffs and trade policy, central banks should focus on avoiding taking steps where the "cost of getting it wrong far outweighs the benefits," rather than aiming for the perfect solution to the problem, he said. Among the costly risks central banks must avoid are to allow inflation expectations to deviate from their targets, Williams said in a fireside chat with BOJ...
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...