The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
The U.S. Commerce Department said on Tuesday it is hiking steel and aluminum tariffs on more than 400 products including wind turbines, mobile cranes, appliances, bulldozers and other heavy equipment, along with railcars, motorcycles, marine engines, furniture and hundreds of other products. The department said 407 product categories are being added to the list of "derivative" steel and aluminum products covered by sectoral tariffs, with a 50% tariff on any steel and aluminum content of these products plus the country rate on the non-steel and non-aluminum content. Evercore ISI said in a...
U.S. President Donald Trump said on Tuesday he ruled out putting U.S. troops on the ground in Ukraine but said the United States might provide air support as part of a deal to end Russia's war in the country. A day after Trump pledged security guarantees to help end the war at an extraordinary White House summit, the path to peace remained uncertain as the U.S. and allies prepared to work out what military support for Ukraine might include. "When it comes to security, (Europeans) are willing to put people on the ground. We're willing to help them with things, especially, probably, ... by...
Donald Trump urged Russia's Vladimir Putin and Ukraine's Volodymyr Zelenskiy to show "flexibility" as the US president seeks to expedite his efforts to end the war in Ukraine. "I hope President Putin will behave, and if he doesn't, it's going to be a difficult situation," Trump said Tuesday in an interview on Fox News. "I hope Zelenskiy, President Zelenskiy, will do what he has to do. He has to show flexibility." Trump's comments follow a series of twists and turns as the US president seeks to end Russia's war against Ukraine, now in its fourth year. Trump held a summit in Alaska with...
S&P Global Ratings stated that revenue from Donald Trump's tariffs will help mitigate the impact of the president's tax cuts on US fiscal health, allowing the country to maintain its current credit rating. Although Trump's trade war has roiled markets, unsettled foreign governments, and drawn criticism from leading economists, S&P affirmed the US's AA+ rating—a score it has held since 2011, when it first downgraded the world's largest economy from AAA. This is partly because S&P expects the inflow of tax revenues to offset the impact of the recent tax and spending bill on the...
US President Donald Trump told President Volodymyr Zelenskiy on Monday that the United States would help guarantee Ukraine's security in any deal to end Russia's war there, though the extent of the assistance was unclear. Trump made the pledge during an extraordinary summit at the White House, where he hosted Zelenskiy and a group of European allies following his Friday meeting in Alaska with Russian President Vladimir Putin. "In terms of security, there will be a lot of help," Trump told reporters, adding that European countries would be involved. "They are the first line of defense...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...