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",...
China has created a list of U.S.-made products that would be exempted from its 125% tariffs and is quietly notifying companies about the policy, two people familiar with the matter said, as Beijing seeks to ease the impact of its trade war with Washington. China has already granted tariff exemptions on select products including select pharmaceuticals, microchips and aircraft engines and was asking firms to identify critical goods they need levy-free, Reuters reported on Friday. However, the existence of a so-called 'whitelist' had not been previously reported. The quiet approach allows...
U.S. President Donald Trump on Tuesday approved additional relief for domestic automakers from his 25% vehicle and auto parts tariffs set in motion less than a month ago, saying it would help the industry to move more production back to the U.S. Trump's latest orders mark the latest softening of his multi-layered tariff assault on trading partners as he seeks to negotiate deals aimed at lowering other countries' trade barriers to U.S. exports. Earlier this month, Trump's administration exempted smartphones, computers and other electronics largely made in China from triple digit tariffs at...
President Donald Trump again criticized Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during an event Tuesday to mark his 100 days in office. "Inflation is basically down and interest rates are down despite the fact that I have a Fed guy that's not really doing a very good job," Trump said at a rally outside Detroit, Michigan. The president's criticism came despite saying earlier this month that he had no plans to fire the central bank chief, despite ongoing criticism of the Fed's pace of interest rate cuts. The uncertainty surrounding...
U.S. President Donald Trump resumed his criticism of the Federal Reserve on Tuesday evening, claiming that Chair Jerome Powell was not doing a good job and that he knew more about interest rates. Speaking at a rally in Warren, Michigan, commemorating his first 100 days in office, Trump did not mention Powell by name, but largely hinted at his past criticism of the Fed Chair. "Interest rates came down despite the fact that I have a Fed person who's not really doing a good job, but I won't say that… I want to be very nice and respectful to the Fed," Trump said. "You're not supposed to...
US consumer sentiment extended its decline in April, as the Conference Board's Consumer Confidence Index fell from 93.9 (revised from 92.9) to 86.0—its weakest reading since April 2020. Consumer sentiment showed fresh signs of strain in April, as views on current business and labor market conditions softened. The Present Situation Index edged down by 0.9 points to 133.5. More notably, the Expectations Index—which tracks short-term outlooks for income, business activity, and employment—plunged 12.9 points to 54.4. That marks its lowest reading since October 2011 and remains well below the...
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...