China manufacturing PMI shrinks more than expected in April as US trade war bites
Chinese manufacturing activity shrank more than expected in April as local producers were slammed by a sharp drop in overseas orders after U.S. President Donald Trump imposed steep trade tariffs against Beijing. The official manufacturing purchasing managers index read 49.0 in April, compared to expectations of 49.7, government data showed on Wednesday. The…
US stock futures muted ahead of econ data barrage, megacap earnings
U.S. stock futures were largely muted Monday evening after subdued moves on Wall Street, as investors cautiously awaited key economic data releases, and first-quarter earnings from megacaps including Apple, Amazon, and Microsoft. The muted moves also reflected growing global recession fears and lingering uncertainty over U.S.-China tariff negotiations. S&P 500 Futures were steady…
Australia’s Alkane to acquire Canada’s Mandalay to form a $650 mln gold producer
Australia’s Alkane Resources Ltd (ASX:ALK) will acquire Canada’s Mandalay Resources Corp (TSX:MND) in an all-share deal, to create a diversified mid-tier gold and antimony producer with operations in Australia and Sweden, the companies said on Monday. Under the agreement, Alkane will issue 7.875 of its shares for each Mandalay share, giving Mandalay shareholders…
Trump said ’doing fine’ with China, has no plans to fire Powell
U.S. President Donald Trump delivered remarks on the state of trade relations with China and other countries Tuesday, emphasizing the positive impact of tariffs on the American economy and outlining his administration’s approach to international trade deals. Trump highlighted the reduction of trade deficits and the revenue generated from tariffs on imported automobiles,…
US stock futures rise after Trump remarks rattle Wall St; tech earnings due
U.S. stock index futures rose in early Asian trade on Tuesday, recovering some ground from a sharp fall on Wall Street as President Donald Trump’s fresh attack on Federal Reserve Chair Jerome Powell battered sentiment. Investors remained on edge amid uncertainty over Trump’s plans for steep trade tariffs, even as his administration flagged…
China CPI, PPI inflation fall more than expected in March as US trade war heats up
Chinese consumer inflation shrank more than expected in March, reflecting some headwinds for local spending from a steadily escalating trade war with the U.S., while producer inflation also declined. Consumer prince index inflation fell 0.1% year-on-year in March, government data showed on Thursday. The reading was worse than expectations that inflation would remain…
Australia consumer sentiment hits 6-mth low in April on US tariff worries- Westpac
Australian consumer sentiment fell to a six-month low in early April, as rising global trade tensions and fading optimism over domestic interest rate cuts weighed on household confidence, a private survey showed on Tuesday, The Westpac-Melbourne Institute consumer sentiment index slumped 6% in April to 90.1 from 95.9 in March. The index had…
Black Monday or Face Ripping Rally?
Following last week’s unprecedented two-day bloodbath in stocks post-tariffs, investors are extremely nervous going into Monday’s opening of trading. Some see signs of a 1987 Black Monday type event, while others see the easy trade as higher on hopes that President Trump will announce a delay in reciprocal tariffs or some “grand deal.”…
Oil prices extend steep declines as OPEC+ output hike, Trump tariffs weigh
Oil prices extended losses in Asian trading on Friday after tumbling over 6% in the previous session, as OPEC+ agreed to speed up output increases, while U.S. President Donald Trump’s sweeping tariffs further eroded market sentiment. As of 21:33 ET (01:33 GMT), Brent Oil Futures expiring in June fell 0.4% to $69.84 per…
Trump unveils sweeping tariffs on all imports and higher levies on “bad actors”
President Donald Trump said Wednesday the United States will impose reciprocal tariffs of at least 10% on all imported goods, with higher reciprocal rates for some nations that will be equivalent to “half” of the rate they levy on U.S. exports. “I will sign a historic executive order instituting reciprocal tariffs on countries…
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