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...
The Federal Reserve will still be able to cut interest rates this year, with recent data supporting this outlook, Fed Governor Christopher Waller said on Monday. Speaking at a conference in South Korea, Waller said that a rise in inflation from President Donald Trump's trade tariffs was unlikely to be persistent, giving the Fed more confidence to lower rates later this year. If "underlying inflation continues to make progress to our 2% goal," along with tariffs settling at lower rates and employment remaining "solid," "I would be supporting good news rate cuts later this year," Waller...
President Donald Trump said that US tariffs on steel and aluminum imports will double from 25% to 50%, starting Wednesday. At a Pittsburgh rally Friday, he argued the move would strengthen the US steel industry, reduce reliance on China, and protect jobs. He also touted a $14 billion steel investment with Japan's Nippon Steel, though he later admitted he hadn't reviewed the final deal. "There will be no layoffs and no outsourcing whatsoever, and every US steelworker will soon receive a well-deserved $5,000 bonus," Trump told the crowd. Steelworkers raised concerns about how Japan would...
U.S. President Donald Trump on Friday accused China of breaking a recent trade agreement, only a few weeks after the two nations announced a temporary truce aimed at de-escalating tensions. In a post on Truth Social, Trump wrote: "China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US." He added: "So much for being Mr. NICE GUY!" Trump said the deal had been struck to prevent further economic deterioration in China after his administration's tariffs took effect. "We went, in effect, COLD TURKEY with China, and it was devastating for them," he said in...
The core PCE price index in the US, which excludes volatile and energy prices and is Federal Reserve's chosen gauge of underlying inflation in the US economy, went up 0.1% from the previous month in April of 2025. The result was in line with market expectations. From the previous year, the index rose by 2.5% to slow from the 2.7% jump from March, the softest increase since March of 2021. Source: Trading Economics
A federal judge needs more time to consider a motion filed by both sides of the U.S. Court of Appeals for the Federal Circuit to suspend President Donald Trump's far-reaching tariffs, according to the U.S. Court of Appeals for the Federal Circuit. The decision to lift the unlawful tariffs has been put on hold pending federal circuit review The U.S. appellate circuit has intervened following a ruling by the USCIT that the Trump administration misused the International Emergency Economic Powers Act (IEEPA) to impose global tariffs that exceeded legal limits. The IEEPA was intended to allow...
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...