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",...
India and Pakistan on Wednesday exchanged military strikes for the sixth time since 1947, when Britain withdrew from the subcontinent and both countries gained independence. In that time, both countries have acquired nuclear weapons, simultaneously raising the stakes of any conflict while limiting how far tensions can escalate. That dynamic appeared to be playing out in the latest clashes over the disputed region of Kashmir, with both governments on Wednesday stressing the non-escalatory nature of their actions even as Pakistan warned that more was likely to come. But while militarily both...
The Federal Reserve held interest rates steady on Wednesday but said the risks of both higher inflation and unemployment had risen, further clouding the economic outlook as the U.S. central bank grapples with the impact of Trump administration tariff policies. The economy overall has "continued to expand at a solid pace," the Federal Open Market Committee said in a policy statement, attributing a drop in first-quarter output to record imports as businesses and households rushed to front-run new import taxes. The labor market remained "solid" and inflation was still "somewhat elevated," it...
Pakistan says it has shot down five Indian planes and captured Indian soldiers in retaliation for an Indian military strike early Wednesday. The shooting down of the jets was not a "hostile act" and Pakistan was defending its territory, Defense Minister Khawaja Muhammad Asif said in an interview with Bloomberg TV on Wednesday. India's Foreign Ministry did not immediately respond to a request for information sent outside Indian business hours. The Indian government has previously said it has carried out targeted military strikes against Pakistan, an expected move after it vowed to...
President Trump offered some fresh comments on trade deals Tuesday, suggesting he is in no real hurry to sign any deals despite the clock ticking on the 90-day reciprocal tariff pause. "Everyone says 'when are you gonna sign deals?," Trump commented today at the White House. "We don't have to sign deals." Trump indicated that the U.S. could sign numerous deals immediately but chooses to prioritize the nation's interests, stating that other countries need the U.S. market more than the U.S. needs theirs. More and more, it is looking like Trump will not offer free trade agreements, but all...
The Trump administration has declared Harvard University ineligible for new federal research grants in the latest escalation between the White House and the Ivy League school. Education Secretary Linda McMahon will send a letter warning the university that access to additional federal funding will be blocked until "they demonstrate responsible management," according to an administration official who reviewed the move on condition of anonymity. Harvard will need to negotiate with the administration to resume eligibility, the official added. The official said the move could affect more than...
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...