Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest rates this month. "The private sector is not performing as well as everyone thought," Waller said Friday in an interview on Bloomberg Television. The monthly employment report for June, released on July 3, showed a sharp slowdown in private-sector job growth and a slowdown in wage growth, even as the unemployment rate declined slightly. His comments followed a speech he delivered Thursday in New York in which he argued that with limited inflation...
Several European Union automakers and capitals are pushing for a deal with President Donald Trump that would allow tariff relief in return for increased investment in the U.S., according to people familiar with the matter. Member countries were briefed on the status of the trade talks on Friday after a series of talks in Washington this week and were told that a technical agreement in principle was close, the people said, speaking on condition of anonymity. The EU has until July 9 to reach a trade deal with Trump before tariffs on nearly all of the bloc's exports to the U.S. jump to 50%....
Although the outcome of ongoing trade negotiations between the U.S. and European Union remains unclear, there are risks of an escalation in tensions, according to analysts at Barclays. European trade officials met with their Trump administration counterparts in Washington this week, as a pause to sweeping "reciprocal" U.S. tariffs is due to expire on Wednesday. But a trade agreement has yet to be reached, with the EU pushing for a deal "in principle" that would include immediate tariff relief for key sectors. Media reports have suggested that a pact could see the European Commission --...
Investors will be keeping a close eye on tariff headlines out of Washington next week, as a temporary suspension of punitive import levies is set to expire. If that Wednesday deadline passes without an increase in trade tensions, it could prove positive for the markets. Negotiators from more than a dozen major U.S. trading partners are rushing to reach agreements with U.S. President Donald Trump's administration by July 9 to avoid even higher tariffs, and Trump and his team have kept up the pressure in recent days. On Wednesday, Trump announced a deal with Vietnam that he says will impose...
US President Donald Trump began a call with Russian leader Vladimir Putin on Thursday, the latest step in his efforts to broker an end to the war in Ukraine. The call was underway, according to Russia's state-run Tass news service, which said the Kremlin would brief reporters after it was completed. Trump had announced the call earlier on social media, writing: "Will speak with President Putin of Russia at 10:00 a.m. Thank you!" The president is also likely to call his Ukrainian counterpart Volodymyr Zelenskiy on Friday, according to a person familiar with the matter. The call follows the...
The ISM Services PMI rose to 50.8 in June 2025 from 49.9 in May, slightly above forecasts of 50.5. The reading showed economic activity in the services sector increased in June after just one month of contraction, although slow growth and economic uncertainty were frequently referenced by firms. A rebound was seen in business activity/production (54.2 vs 50), new orders (51.3 vs 46.4), inventories (52.7 vs 49.7) and new export orders (51.1 vs 48.5). Meanwhile, price pressure eased a bit (67.5 vs 68.7) although price increases impacting costs of operations were mentioned more frequently this...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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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...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...