US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last October. This move aims to ease trade tensions between the world's two largest economies. Trump also announced a freeze on reciprocal tariffs imposed on Chinese goods. This freeze will remain in effect, providing some relief to companies engaged in international trade with China. This policy is expected to help ease trade tensions that have persisted for the past few years. This tariff cut will...
The unemployment rate in the United States went up to 4.2% in November of 2024 from 4.1% in the prior month, in line with market expectations. The number of unemployed individuals increased by 161,000 to 7.145 million, while employment levels decreased by 355,000 to 161.141 million. Meanwhile, the labor force participation rate edged down to 62.5% from 62.6%, and the employment-population ratio fell to 59.8% from 60%. Source: Trading Economics
Nonfarm Payrolls (NFP) in the US rose by 227,000 in November, the US Bureau of Labor Statistics (BLS) reported on Friday. This reading came in above the market expectation of 200,000.
The number of Americans filing for unemployment benefits rose to 224,000 in the week ending Dec. 1, 2024. The figure was higher than the 215,000 estimate and higher than the previous weekly reading of 213,000, the Labor Department said Thursday. Source: @Newsmaker23
Private businesses in the US added 146K workers to their payrolls in November 2024, the least in three months, following a downwardly revised 184K rise in October, and slightly below forecasts of 150K. The service-producing sector added 140K jobs, led by education/health services (50K); trade/transportation/utilities (28K); professional/business services (18K); leisure/hospitality (15K); financial activities (5K) and information (4K). Meanwhile, the goods-producing sector added 6K jobs, of which 30K in construction and 2K in natural resources/mining while manufacturing shed 26K jobs....
The number of workers quitting jobs in the US rose to 3.326 million in October 2024, the highest in five months, from an upwardly revised 3.098 million in the previous month. The quit rate, a metric that measures workers voluntarily leaving their jobs as a proportion of total employment, increased to 2.1% from 1.9% in the previous month. Quits increased in the accommodation and food services sector (+90,000). Source: Trading Economics
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...
US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...