If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with the shutdown in Washington, other reports outside the government data suggest the labor market just plodded along in September. The Dow Jones consensus forecast was for growth of 51,000 in nonfarm payrolls with the unemployment rate holding steady at 4.3%. High-frequency data that includes job postings, private payrolls and state-by-state figures...
U.S. core inflation rose less than forecast in May for a fourth straight month, suggesting businesses are looking for ways to limit how much of their higher rates cost customers. The consumer price index, which excludes the often volatile food and energy categories, rose 0.1% from April, according to Bureau of Labor Statistics data released Wednesday. It was up 2.8% from a year ago. (alg) Source: Bloomberg
The US and China ended two days of high-stakes trade talks with a plan to revive the flow of sensitive goods — a framework that now awaits the blessing of Donald Trump and Xi Jinping. After about 20 hours of negotiations in London, US Commerce Secretary Howard Lutnick said the two sides had laid out a framework for implementing the Geneva consensus that lowered tariffs last month. "First of all, we have to get rid of the negatives," he said. "Now, we can move forward to try to have positive trade, to increase trade." While the more upbeat tone should reassure investors worried about the...
For months, Donald Trump has imposed unprecedented levels of tariffs and trade restrictions on China, part of a strategy to force Xi Jinping into talks that the U.S. president hopes will help cut the trade deficit and boost American manufacturing. With U.S. tariffs soaring to 145% and the Trump administration boasting that it has the upper hand over China, Beijing has turned the tables, essentially halting exports of the one thing the modern world can't live without: rare-earth magnets. As slowing shipments of products containing obscure elements like dysprosium and terbium begin to pinch...
The United States (US) and China agreed to a preliminary deal on how to implement the consensus the two sides reached in Geneva, per Bloomberg. US negotiators said early Wednesday that they "absolutely expect" that issues around shipments of rare earth minerals and magnets will be resolved with the framework implementation, even though the full details of their deal weren't immediately available. Market reaction At the time of press, the US Dollar Index was down 0.06% on the day at 99.0. Source : Fxstreet
A U.S. federal appeals court has upheld President Trump's sweeping "Liberation Day" tariffs, allowing them to remain in effect while it reviews a lower court's ruling that blocked them. The lower court had found that Trump exceeded his authority. These tariffs affect most U.S. trading partners, including Canada and China. Although the appeals court has yet to decide whether the tariffs comply with the International Emergency Economic Powers Act (IEEPA), it has temporarily suspended the lower court's ruling. On May 28, the U.S. Court of International Trade ruled that only Congress has 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...
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,...