China on Thursday accused the U.S. of stoking panic over its rare earth controls and said Treasury Secretary Scott Bessent had made "grossly distorted" remarks about a top Chinese trade negotiator, rejecting a White House call to roll back the curbs. The official newspaper of the governing Communist Party also issued a seven-point rebuttal after top U.S. negotiators suggested Beijing could avert President Donald Trump's threat to impose 100% tariffs on Chinese goods by scrapping the measures set to take effect on November 8. While investors are relieved the world's top two economies have...
US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve's preferred inflation gauge. The producer price index for final demand increased 0.2% from a month earlier after rising a revised 0.1% in September, Bureau of Labor Statistics data showed Thursday. Compared with a year ago, the PPI rose 2.4%. The wholesale inflation data follow the more closely watched consumer price index, which showed on Wednesday that underlying inflation remained stubborn for a third month. While...
The number of Americans filing claims for unemployment benefits fell to 217K in the week ended Nov. 10, 2024. That was below the 224,000 estimate and below the previous weekly estimate of 221K the Labor Department said Thursday. Source: @Newsmaker23
The Australian Bureau of Statistics (ABS) will release its October monthly employment report at 00:30 GMT on Thursday (11/14). The country is expected to have added 25,000 new jobs, while the Unemployment Rate is expected to remain steady at 4.1%. The Australian Dollar (AUD) is trading near a multi-week low against the US Dollar (USD) ahead of the event amid continued USD demand, with the AUD/USD pair trading just above the 0.6500 mark. The ABSEmployment Change report separates full-time jobs from part-time jobs. By definition, full-time jobs mean working 38 hours or more per week and...
A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday. Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. That measure, which includes food and energy, rose 0.2% for a fourth month and 2.6% from a year before, marking...
Japan's wholesale inflation accelerated in October as a weaker yen pushed up import costs for some goods, data showed on Wednesday, complicating the central bank's decision on how quickly to raise interest rates. The corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% increase. That followed a 3.1% increase in September. The yen-based import price index fell 2.2% in October from a year earlier, slowing from a 2.5% decline in...
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 he spoke with Russian President Vladimir Putin, a day before meeting with Ukrainian leader Volodymyr Zelenskiy. "This conversation is ongoing, it's lengthy, and I will...