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 US dollar (USD) regained some ground and managed to shake off two consecutive daily retracements on Tuesday (5/27), as US investors returned to their desks after the Memorial Day holiday on Monday. Meanwhile, traders focused on the trade front as well as the Senate debate on Trump's sweeping tax bill. Here's what to watch for Wednesday, May 28: The US Dollar Index (DXY) bounced off a multi-week trough on Tuesday, rising to a two-day high near 99.60 amid a decline in US yields across the curve. The release of the FOMC Minutes from the May 7 meeting will be the key event, followed by the...
"I am very pleased with the 50% tariff allocation on the European Union, especially since they have been slow (to put it mildly!), in our negotiations with them," US President Donald Trump said in a post published on Truth Social on Tuesday. "I was just informed that the EU has asked for an immediate date for a meeting. This is a positive event, and I hope that they will finally, as I have asked China, open up European Countries to Trade with the United States," Trump added. The comments failed to spark a noticeable reaction in the US Dollar (USD). At the time of writing, the USD Index was...
Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic are set to hold another round of talks in early June on the sidelines of a WTO meeting in Paris, according to the Global Times. "The two sides will conduct in-depth exchanges on the important topic of China-EU economic and trade cooperation," a source said, adding the talks will help prepare for future high-level exchanges. This meeting marks the third between the two in 2025, reflecting a notable increase in China-EU engagement amid global trade uncertainty. Recent initiatives include the China-EU Working Group...
Tencent and Baidu, two of China's largest technology companies, revealed how they're keeping in the global artificial intelligence race even as the U.S. tightens some curbs on key semiconductors. The business' methods include stockpiling chips, making AI models more efficient and even using homegrown semiconductors. While the administration of U.S. President Donald Trump scrapped one controversial Biden-era chip rule, it still tightened exports of some semiconductors from companies including Nvidia and AMD in April. Big names in the sector addressed the issue during their latest earnings...
President Donald Trump threatened Monday to divert billions of dollars in endowment funds from Harvard University and give them to vocational schools across the U.S., escalating his feud with the elite institution. "I am considering taking Three Billion Dollars of Endowment Funds from the highly anti-Semitic Harvard, and giving them to STRUGGLE SCHOOLS across our country," Trump said in a social media post. "What a great investment that would be for the U.S., and much needed!!!" Harvard did not immediately respond to a request for comment. The Trump administration has moved to freeze...
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...