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 Kremlin said it was "taking note" of Donald Trump's threat to sharply shorten Vladimir Putin's deadline to end his war in Ukraine, although it stressed that the Russian president was unlikely to change course. "I would like to avoid making any judgments" about Trump's statement, Kremlin spokesman Dmitry Peskov told reporters on Tuesday. Russia continues the war and is also committed to resolving the conflict "and to ensuring our interests in this settlement," he said. Trump threatened on Monday to impose secondary sanctions within 10-12 days on countries buying Russian exports,...
US and Chinese officials began a second day of talks in Stockholm on Tuesday (July 29) to resolve a long-running economic dispute and de-escalate the escalating trade war between the world's two largest economies. The meeting may not have produced any immediate breakthroughs, but the two sides could agree to a 90-day extension of the tariff truce reached in mid-May. This could also pave the way for a possible meeting between US President Donald Trump and Chinese President Xi Jinping later in the year, although Trump on Tuesday denied making any significant efforts to make it happen. The...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of their ongoing trade deal, EU Trade Commissioner Maros Sefcovic said Monday. Following extensive talks, both sides agreed that their steel and aluminium sectors face a common threat. Under the deal, EU metal producers will receive tariff-free or low-tariff access to U.S. markets through a quota system, replacing former 50% tariffs imposed under President Trump. The system is still being finalized. "It became very, very clear that if it comes to...
President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end...
The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs. The majority of Fed policymakers, though, remain concerned that Trump's tariffs could undo progress on bringing inflation back to the central bank's 2% goal, outweighing for now worries about the labor market. The trade deal struck between the U.S. and Japan last week, with tariffs set at...
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...