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...
Trump said he would increase tariffs on Steel and Aluminium to 50% from 25%, effective 4 June. He made the announcement as he visited a US Steel Corp. plant on Friday. Later on, Trump said he would raise Aluminium rates in a Truth Social post, ING's commodity experts Ewa Manthey and Warren Patterson note. Trump says the tariffs are aimed at bolstering domestic production "The US imports significant volumes of Aluminium and Steel from Canada. It imports roughly half of its Aluminium needs from abroad, with Canada the biggest supplier, accounting for 58% of imports, followed by 6% from the...
China on Monday refuted Washington's claims that it had broken the Geneva trade agreement, instead accusing the U.S. for breaching deal terms, signaling talks between the worlds top two economies have taken a turn for the worse. Trade frictions between Washington and Beijing have flared up after a hiatus following a meeting between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart He Lifeng in Geneva, Switzerland, that had led them to suspend most tariffs for 90 days. The Trump administration has ratcheted up export restrictions on semiconductor design software and...
China's Commerce Ministry on Monday rejected accusations from U.S. President Donald Trump that the country had violated a recent trade agreement signed in Geneva, Switzerland. China claimed it had "taken seriously, strictly implemented, and actively upheld the consensus reached at the talks with U.S. in Geneva," the Ministry of Commerce said in a statement. The statement said Washington had "made bogus charges and unreasonably accused China of violating the consensus, which is seriously contrary to the facts". "China firmly rejects these unreasonable accusations," the commerce ministry...
The Federal Reserve will still be able to cut interest rates this year, with recent data supporting this outlook, Fed Governor Christopher Waller said on Monday. Speaking at a conference in South Korea, Waller said that a rise in inflation from President Donald Trump's trade tariffs was unlikely to be persistent, giving the Fed more confidence to lower rates later this year. If "underlying inflation continues to make progress to our 2% goal," along with tariffs settling at lower rates and employment remaining "solid," "I would be supporting good news rate cuts later this year," Waller...
President Donald Trump said that US tariffs on steel and aluminum imports will double from 25% to 50%, starting Wednesday. At a Pittsburgh rally Friday, he argued the move would strengthen the US steel industry, reduce reliance on China, and protect jobs. He also touted a $14 billion steel investment with Japan's Nippon Steel, though he later admitted he hadn't reviewed the final deal. "There will be no layoffs and no outsourcing whatsoever, and every US steelworker will soon receive a well-deserved $5,000 bonus," Trump told the crowd. Steelworkers raised concerns about how Japan would...
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,...