Many people in China cheered the meeting Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions. Every time the two leaders meet, it helps ease tensions and creates a "positive atmosphere," Alex Hongcai Xu, chair of Beijing Honglve Consulting, said in Mandarin, translated by CNBC. "This atmosphere is beneficial for negotiations." "Each side lowering tariffs to below 10% would benefit capital flows and cooperation," Xu said. He noted that China can likely buy more U.S. soybeans and U.S.-made Boeing airplanes. Trump said Thursday...
Unemployment claims rose 11,000 to 235,000 in the week ending August 16, compared with the median estimate of 225,000, according to Labor Department data. Estimated range: 220,000-235,000 from 40 economists. The previous week's claims were unrevised from 224,000. The 4-week moving average was 226,250 in the week ending August 16. Actual unadjusted initial claims were 194,900 vs. 199,400 in the previous week. Continuing claims rose 30,000 to 1.972 million in the week ending August 9. Highest level since 2021 (alg) Source: Bloomberg
Russia attacked a civilian factory in western Ukraine owned by the US company Flex Ltd, causing a massive fire and injuring at least 15 people. Local authorities said that at approximately 4:40 a.m. local time, two Russian cruise missiles struck the company's premises in Mukachevo. "It was an ordinary civilian business, supported by American investment, producing everyday goods like coffee machines," Ukrainian President Volodymyr Zelenskiy said on social media Thursday. Russia resumed its large-scale attacks deep inside Ukraine after a three-week pause ahead of Russian President Vladimir...
Recent data shows the UK economy recorded its fastest growth rate in a year, supported by a solid services sector, although the manufacturing sector is still experiencing contraction. The Flash Services PMI for August 2025 surged to 53.6, well above the forecast of 51.8 and a significant increase from 51.8 in July. This increase pushed the Composite PMI - a combination of the services and manufacturing sectors - up to 53.0, its highest level since August 2024. A reading above 50 indicates expansion in economic activity. Conversely, the Flash Manufacturing PMI fell to 47.3, lower than...
Germany's flash composite PMI rose to 50.9 in August from 50.6, the highest since March and above market expectations of 50.2. Still, it was below the long-run 52.6 average, signaling modest growth. Manufacturing led with output at 52.6 on stronger new orders, while services stagnated at 50.1. Employment dipped, and cost pressures picked up, though overall growth remained limited. Source: Trading Economics
The S&P Global Flash Australia Services PMI Business Activity Index rose to 55.1 in August from 54.1 in July, marking the fastest growth in 40 months. The expansion was driven by stronger demand and renewed increases in new export business, particularly from the US, Europe, and Asia-Pacific markets. To manage higher workloads, service providers added staff at the quickest pace since April 2023. Input costs remained elevated due to higher wages, materials, and shipping, but the rate of inflation eased, allowing firms to raise selling prices more moderately. As a result, output price...
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...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...