U.S. President Donald Trump said he will meet with his budget director Russell Vought on Thursday to determine which "Democrat Agencies" to cut, as he looks to inflict pain on his political opposition in the second day of a government shutdown. "I can't believe the Radical Left Democrats gave me this unprecedented opportunity," Trump said in a social media post. Trump has already frozen federal transit and green-energy funding for Democratic-leaning states and has threatened to fire more federal workers during the shutdown, which began on Wednesday due to a partisan standoff in...
The Dow Jones Industrial Average (DJIA) recovered on Monday (2/25), rising about 300 points and turning around its peak in an attempt to recoup some of last week's losses triggered by an unexpected drop in consumer confidence figures. The market started the new trading week with a bullish bias, but gains remained limited as tensions persisted on the upside and investors remained overall uneasy on multiple fronts. February consumer sentiment figures raised some concerns last week, and now investors will turn to key earnings numbers this week from consumer building suppliers Home Depot (HD)...
Russia's overheating economy is on the cusp of serious cooling, as huge fiscal stimulus, soaring interest rates, stubbornly high inflation and Western sanctions take their toll, but after three years of war, Washington may just have thrown Moscow a lifeline. U.S. President Donald Trump is pushing for a quick deal to end the war in Ukraine, alarming Washington's European allies by leaving them and Ukraine out of initial talks with Russia and blaming Ukraine for Russia's 2022 invasion, political gifts for Moscow that could also bring strong economic benefits. Washington's push comes as...
The US Manufacturing Purchasing Managers' Index (PMI), a key indicator of economic performance in the manufacturing sector, has reported a higher than anticipated figure. The actual number came in at 51.6, exceeding both the forecasted and previous numbers. This figure was higher than the forecasted number of 51.3, indicating an increase in activity level of purchasing managers in the manufacturing sector. The PMI is a closely watched survey as purchasing managers often have early access to data about their company's performance, which can be a leading indicator of overall economic...
In a recent report, the Services PMI (Purchasing Managers' Index), a key indicator of economic health in the private sector, was recorded at 49.7. This figure, published monthly by Markit Economics, is significantly lower than the forecasted 53.0, indicating a potential slowdown in the economy. The PMI index is based on surveys of over 400 executives in private sector service companies, including sectors such as transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants. An index level of 50 denotes no change since the...
The S&P Global UK Composite PMI was at 50.5 in February of 2025, inching lower from 50.6 in the previous month and in line with the market consensus to mark the 16th consecutive period of expansion in the British private sector activity. Economic growth was solely driven by the services sector (51.1 vs 50.8 in January), which offset a sharper decline in manufacturing (46.4 vs 48.3), in line with the similar trend in other major European economies. The latest survey indicated the sharpest contraction in new business received by firms in one-and-a-half years, with firms citing cuts to...
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,...