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",...
The ISM Manufacturing PMI fell to 48 in July 2025 from 49 in June, missing expectations of a rise to 49.5. This figure marked the fifth consecutive month of contraction in the manufacturing sector and was the weakest since October of last year. The largest negative contributions came from declines in supplier deliveries (45.7 vs. 46.7) and employment (43.4 vs. 45.0). On the positive side, production increased (51.4 vs. 50.3), while declines in new orders (47.1 vs. 46.4) and backlogs (46.8 vs. 44.3) eased. Price pressures also eased, with the price index falling to 64.8 from 69.7. Source:...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend in employment in the healthcare and social assistance sectors continued. The federal government continued to lose jobs. The June figure was also revised down sharply from 147,000 to 14,000, and the May figure was also revised down by 125,000. With these revisions, total employment in May and June was 258,000 lower than previously reported. (alg) Source: trading economics
President Donald Trump urged the Federal Reserve Board to "take control" if Chairman Jerome Powell doesn't cut interest rates, escalating his feud with the central bank's leadership. "Jerome Powell 'Late,' a stubborn, STUPID man, must lower interest rates substantially, now. if he continues to refuse, the board must take control, and do what everyone knows should do!" the president wrote on social media on Friday. The White House did not immediately respond to a request for comment on the president's remarks. Trump's post came after Fed officials left interest rates unchanged on...
The Fed may or may not actually cut interest rates in September. The deciding factor will be how robust macroeconomic data (namely, inflation and the labor market) looks at that time. That's why all eyes will likely be on today's US labor market report for July. Certainly, there are signs of weakness in some areas of the US labor market, particularly in cyclical sectors like manufacturing and business services. While the June report shows a fairly good figure (+147,000), a closer look reveals mixed results. However, there are no signs of a slowdown, notes Commerzbank FX analyst Antje...
The U.S. will levy a 30% tariff on South African exports next week, after Pretoria failed to reach a trade deal before President Donald Trump's deadline. The new rate is part of a broader executive order signed Thursday, imposing tariffs ranging from 10% to 41% on dozens of countries to reshape global trade in favor of the U.S. Despite months of negotiations and an offer to buy U.S. LNG and invest $3.3 billion in American industries, South Africa's efforts fell short. Trade Minister Parks Tau warned the tariff threatens key export sectors like automotive, agro-processing, steel, and...
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...