Tag: USA

Oil futures were up sharply Monday after President Trump over the weekend slapped tariffs on Canada, Mexico and China, sparking worries over U.S. crude imports, though upside was limited by concerns a trade war would dent demand.

Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.

The pace of U.S. economic expansion slowed during the fourth quarter, according to the latest estimates released Thursday.

U.S. crude oil inventories increased for the first time in 10 weeks as exports fell and refineries lowered their capacity use, according to data released Wednesday by the U.S. Energy Information Administration.

Initial jobless claims fell by 16,000 to 207,000 in the week ended January 25, the Labor Department said Thursday. It’s the lowest level in in three weeks.

US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants, a move that rattled global markets in the space of several hours.

U.S. President Donald Trump on Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl is being sent from China to the U.S. via Mexico and Canada.

Europe must “be prepared” and anticipate the potential trade tariffs of newly inaugurated U.S. President Donald Trump, European Central Bank President Christine Lagarde told CNBC on Wednesday.

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman and CTO Larry Ellison joined President Trump to announce an investment of as much as $500 billion in artificial intelligence infrastructure in the U.S.

An expected decline in interest rates could be stalled if the prospective tariffs of Donald Trump’s second White House administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday.

President Donald Trump signaled plans to impose previously threatened tariffs of as a much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.

U.S. crude oil fell more than 2% on Tuesday, as President Donald Trump weighs imposing tariffs on key trade partners while vowing to boost domestic energy production.

U.S. President Donald Trump’s tariff plans would mean higher car prices for U.S. consumers and hit global automakers, Germany’s powerful car industry warned on Tuesday, as auto stocks fell on the prospect of higher U.S. import duties.

Monday January 20 is the Martin Luther King Day holiday in the US: The two major stock markets – the New York Stock Exchange and the Nasdaq – will be closed on Monday, 20 January 2025. Bond markets are closed. The Securities Industry and Financial Markets Association (SIFMA) recommends bond trading closed (SIFMA is the trade group that represents the bond market).

U.S. single-family homebuilding increased solidly in December, but further gains were seen limited by rising mortgage rates and a glut of new homes on the market.

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

Global diesel prices and refining margins spiked following the latest round of U.S. sanctions on Russia’s oil trade on expectations the measures would tighten supplies, according to analysts and LSEG data.

China will launch an investigation into U.S. government subsidies to its semiconductor sector over alleged harm caused to Chinese mature node chipmakers, the commerce ministry said on Thursday.

Economic activity increased ”slightly to moderately” across to US in late November and December, supported by strong holiday sales, the Federal Reserve said in its Beige Book survey of regional business contacts.

Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation.