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
U.S. President Donald Trump and British Prime Minister Keir Starmer on Thursday announced a limited bilateral trade agreement that leaves in place Trump's 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports. The preliminary deal is the first of dozens of tariff-lowering deals that Trump expects to land in coming weeks after upending the global trading system with steep new import taxes aimed at shrinking a $1.2 trillion U.S. goods trade deficit. Trump hailed the deal in the Oval Office with...
Initial jobless claims fell by 13,000 to 228,000 in the week ended May 3, the Labor Department said Thursday. That's a return to recent trends. Despite uncertainty over trade policy, companies are not moving to cut cuts through layoffs. Economists polled by The Wall Street Journal had estimated new claims would fall by 11,000 to 230,000. This is breaking news. Check back for updates here. BX:TMUBMUSD10Y SPX -Greg Robb This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street...
Pakistan shot down 12 drones from India that violated its airspace, the military said on Thursday, a day after Indian strikes on multiple targets in the country fanned fears of a larger military conflict between the nuclear-armed neighbours. India sent Israeli Harop drones to multiple locations, including the two largest cities of Karachi and Lahore, and their debris is being collected, Pakistan military spokesperson Ahmed Sharif Chaudhry said. "Indian drones continue to be sent into Pakistan airspace...(India) will continue to pay dearly for this naked aggression," he said. India's...
Quoting the Chinese Embassy in the United States (US), the highly influential Chinese media Global Times said early Thursday (08/05) that Beijing is unlikely to lower tariffs before talks in Switzerland begin. Key quote "When asked to comment on the US statement that the US will not lower tariffs before negotiations begin and implying that the talks were not initiated by the US side, following China's recent announcement of upcoming talks with the US side, a spokesperson for the Chinese Embassy." "Second, China consistently resolutely opposes the abuse of tariffs by the US. China will...
India and Pakistan on Wednesday exchanged military strikes for the sixth time since 1947, when Britain withdrew from the subcontinent and both countries gained independence. In that time, both countries have acquired nuclear weapons, simultaneously raising the stakes of any conflict while limiting how far tensions can escalate. That dynamic appeared to be playing out in the latest clashes over the disputed region of Kashmir, with both governments on Wednesday stressing the non-escalatory nature of their actions even as Pakistan warned that more was likely to come. But while militarily both...
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...