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...
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...
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...
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 --...
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%....