The business activity in the US service sector stagnated in September, with the Institute for Supply Management's (ISM) Services Purchasing Managers Index (PMI) declining to 50 from 52 in August. This reading came in below the market expectation of 51.7. The Employment Index of the PMI survey edged higher to 47.2 from 46.5 in August, while the Prices Paid Index, the inflation component, rose to 69.4 from 69.2. Assessing the survey's findings, "September's Services PMI level returned to numbers very similar to May and July, with weakness in business activity and continued weakness in...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a way to cut Beijing's trade deficit with Washington. In a post on his Truth Social platform, Trump said, "China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans. I hope China will quickly quadruple its soybean orders." "This is also a way of substantially reducing China's Trade Deficit with the USA. Rapid service will be provided," he added. Soybeans are a key U.S. agricultural export to China and...
Whatever happens at September's Federal Reserve meeting will pale in comparison to a wholesale rethinking of the U.S. central bank's design, a possibility stirred by Donald Trump's latest appointment. The president nominated White House advisor Stephen Miran to temporarily fill Adriana Kugler's vacant Fed board seat, reheating a debate about whether the Fed structure, its independence, and even its central role in the monetary economy should now become live questions. That may sound like a giant leap in a discussion that has so far centered largely on how quickly the Fed should lower...
The US expects to largely complete negotiations with countries that have yet to secure a trade deal by the end of October, Nikkei Asia reported, citing an interview with Treasury Secretary Scott Bessent. The comments, made to Nikkei on Thursday, come after President Donald Trump's sweeping new tariffs took effect. Some key trading partners, including Canada, Mexico and Switzerland, are still seeking to secure more favorable terms with the US. Bessent also reaffirmed the importance of the Federal Reserve's independence but said the next central bank head should be...
The U.S. and Russia are aiming to reach a deal to halt the war in Ukraine that would lock in Moscow's occupation of territory seized during its military invasion, Bloomberg News reported on Friday. U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin as early as next week, the report said, citing unnamed people familiar with the matter. A White House official said the Bloomberg story was speculation. A Kremlin spokesperson did not respond to a request for...
Russian President Vladimir Putin spoke to the leaders of China, India and three ex-Soviet states on Friday in a flurry of calls to brief them on his contacts with the United States about the war in Ukraine. Putin met U.S. President Donald Trump's envoy Steve Witkoff in Moscow on Wednesday, after which the Kremlin said a summit between Putin and Trump could take place as early as next week. No venue, date or agenda have been announced. Trump, pressing for an end to the 3-1/2-year war, had set a deadline that expires on Friday for Russia to agree to peace or face new sanctions on Moscow and...
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...
The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long,...