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",...
Australian employment posted a surprise fall in February although the jobless rate stayed unchanged, a soft result that sent the local dollar lower. Figures from the Australian Bureau of Statistics on Thursday showed net employment fell 52,800 in February from January. That was well under market forecasts for a 30,000 rise. The jobless rate stayed at 4.1%, matching market expectations. The Australian dollar slipped 0.3% to $0.6341 after the data. Source: Reuters
President Donald Trump's plan to revive U.S. shipbuilding using massive fees on China-linked ship visits to American ports is causing U.S. coal inventories to swell and stoking uncertainty in the embattled agriculture market, as exporters struggle to find ships to send goods abroad. Trump is drafting an executive order that would rely on funding from a U.S. Trade Representative proposal to levy fines of up to $1.5 million on China-made ships or vessels from fleets that include ships made in China. Those potential port fees have limited the availability of ships needed to move agriculture,...
The White House said Tuesday that US President Donald Trump and Russian President Vladimir Putin agreed to seek a limited ceasesire on energy and infrastructure targets for 30 days. "The leaders agreed that the movement to peace will begin with an energy and infrastructure ceasefire, as well as technical negotiations on implementation of a maritime ceasefire in the Black Sea, full ceasefire and permanent peace," according to a readout of President Donald J. Trump's call with President Vladimir Putin on Tuesday. "These negotiations will begin immediately in the Middle East," the White House...
Canada's Prime Minister Mark Carney said it was important to strengthen ties with "reliable allies" in Europe, as he met British and French leaders on his first overseas visit amid tensions with the United States. Carney's decision to visit Paris and London instead of Washington, as is usual for Canadian leaders, comes after U.S. President Donald Trump escalated trade tensions with both Canada and Europe, and floated threats of annexing Canada. "(It) is more important than ever for Canada to strengthen its ties with reliable allies like France," Carney said, ahead of a working lunch with...
President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, cutting its global economic outlook and warning that a broader trade war would sap growth further. In the case of a generalised trade shock, not only will U.S. households pay a high direct price, but the likely economic slowdown will cost the United States more than the extra income the tariffs are supposed to generate, the Organisation for Economic Cooperation and Development estimated in its interim outlook. Global growth is on...
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...