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...
The US Supreme Court said Wednesday that it will hear arguments in January on Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, who will remain in office for the time being, setting up a major legal battle over the first attempt by a president to fire a Federal Reserve official because she challenges the central bank's independence. The justices declined to immediately rule on a Justice Department request to stay a judge's order temporarily blocking the Republican president from firing Cook, an appointee of Democratic former President Joe Biden. The court postponed...
US President Donald Trump said he will meet with Chinese President Xi Jinping in the next four weeks, with soybeans a key topic of discussion. Trump made the announcement in a post on Truth Social on Wednesday, highlighting the recent decline in Chinese purchases being hit hard by US farmers. The meeting comes amidst still-strained trade relations. The Trump administration has called the 55% tariffs on Chinese imports a "good status quo" ahead of the November 10 deadline; without a new deal, tariffs could potentially rise significantly higher. Trump also previously hinted at plans to meet...
The Institute for Supply Management's (ISM) data showed the Manufacturing PMI edging higher to 49.1 in September, up from 48.7 in August and slightly above analysts' expectations of 49. Meanwhile, the Prices Paid Index, which tracks inflation, retreated to 61.9 from 63.7, the Employment Index improved to 45.3 from 43.8, and the New Orders Index deflated to 48.9 from 51.4. Source: FXstreet
The ADP report showed private employment fell in September; economists had expected a rise. Private employment fell 32,000 (estimated +51,000) in September compared with a revised -3,000 in August, according to the ADP Research Institute and the Stanford Digital Economy Lab. Estimates ranged from +25,000 to +80,000, according to 28 economists. Employment in the goods-producing sector fell 3,000. Employment in the services sector fell 28,000. (alg) Source: Bloomberg
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, grueling standoff that could lead to the loss of thousands of federal jobs. There was no clear path out of the impasse, while agencies warned that the 15th government shutdown since 1981 would halt the release of a closely watched September employment report, opens new tab, slow air travel, opens new tab, suspend scientific research, withhold pay from U.S. troops and lead to the furlough of 750,000...
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,...