Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Donald Trump's $3.3 trillion tax-cutting and spending bill passed the Senate on Tuesday after Republican leaders worked hard to persuade opponents to support the legislation and hand the president a political victory. Senators voted 51-50 to pass the bill. Vice President J.D. Vance cast the tie-breaking vote. The package, which now goes to the House, combines $4.5 trillion in tax cuts with $1.2 trillion in spending cuts. The package — informally known as the "One Big Beautiful Bill" — encompasses the president's entire legislative agenda in one package. Trump has personally lobbied...
The ISM Manufacturing PMI edged up to 49 in June 2025 from 48.5 in May, compared to forecasts of 48.8, signalling economic activity in the manufacturing sector contracted for the fourth consecutive month. However, the rate of contraction slowed, amid a rebound in production (50.3 vs 45.4) and improvements in inventories (49.2 vs 46.7). On the other hand, new orders (46.4 vs 47.6), employment (45 vs 46.8) and backlog of orders (44.3 vs 47.1) contracted at a faster pace. Also, inflationary pressures increased slightly (69.7 vs 69.4) and tariffs-induced prices growth accelerated. Meanwhile, the...
Data from the US Bureau of Labor Statistics showed that the number of job openings in May rose sharply to 7.77 million, well above the market estimate of 7.3 million. This indicates that the US labor market is still quite strong. The job opening rate rose to 4.6% from 4.4% previously. Meanwhile, the number of people who resigned from their jobs also increased to 3.29 million, indicating workers' confidence in new opportunities. On the other hand, the number of layoffs actually decreased to 1.6 million, indicating that the layoff rate is getting lower. This data could reduce pressure on the...
Goldman Sachs says it now expects the Federal Reserve to slash interest rates earlier than initially anticipated, citing relatively mild effects from U.S. President Donald Trump's aggressive tariff agenda. Writing in a note to clients, the analysts led by Jan Hatzius said they now predict that the central bank will cut borrowing costs by 25 basis points in September, prior to an earlier forecast that the next reduction would come in December. "While it is far from clear, we think the odds of a cut in September are somewhat above 50% because we see several routes to get there --...
Euro zone inflation rose slightly to 2% in June, according to flash data from statistics agency Eurostat on Tuesday, meaning consumer prices in the single currency area are now in line with the European Central Bank's target of 2%. Economists polled by Reuters had expected the reading to come in at 2% in the twelve months to June. Euro zone inflation had fallen by more than expected to 1.9% in May. Core inflation, which excludes energy, food, tobacco and alcohol prices, was unchanged at 2.3% in June. The closely watched services inflation print picked up to 3.3% in June, after cooling...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...