Latest Finance-Economy News
US and Iran Forces Clash Near Strait of Hormuz, Oil Wavers
US forces clashed with Iran near the Strait of Hormuz, jolting markets as oil prices waver below $95/barrel while awaiting Tehran's response on a potential war-ending deal. Tensions escalate with Trump demanding a deal from Tehran.
Federal Court Deems Trump's 10% Global Tariffs Unlawful
A federal trade court ruled President Trump's 10% tariffs on global imports unlawful in a narrow decision for certain plaintiffs, putting the policy at risk. Treasuries remain steady ahead of key data.
Markets Brace for April Payrolls Report
Investors await the April payrolls report as Veronica Clark of Citi provides outlook; treasuries hold steady with yields down slightly. Dollar index dips versus strong sterling and yen.
China Makes 'Stunning Reversal' on Iran Ahead of Trump-Xi Meeting
Fox News analyst Michael Pillsbury argues China has betrayed Iran with lavish preparations for Trump's visit, signaling a policy shift. Trump-Xi meeting remains on track despite concerns.
US Fires on Iran Targets, Demands Deal from Tehran
Overnight flare-up sees US striking Iran targets; Trump pushes for deal amid rising tensions impacting global markets and currencies.
Yen Strengthens as Japan Suspected of $55B Forex Intervention
Yen gains ground, with estimates of a second Japanese forex intervention totaling $55 billion to support it, preventing break below 155. Offshore yuan dips below 680 handle.
SoftBank Downsizes $10B Margin Loan Plans for OpenAI Stake
SoftBank scales back ambitious $10 billion margin loan backed by its OpenAI stake, signaling caution around AI investments amid market volatility.
Clashes Near Hormuz Send Oil Prices Higher
Oil surges following US-Iran clashes near Hormuz, with Jeffrey Gundlach warning on private credit risks in the broader economic context.
Singapore Tightens Property Rules to Cool Hot Market
Singapore implements new curbs on home flipping and property after price jumps; additional measures announced to temper market overheating.
Key PMIs Beat Expectations: UK Composite at 52.6, Japan Services at 53.4
S&P Global Composite PMI Final for UK hits 52.6 (consensus 52.0); Japan Services PMI Final at 53.4. Strong data supports economic resilience amid global tensions.
China Foreign Exchange Reserves at $3.342T, Vehicle Sales Down 0.6% YoY
China's FX reserves stand at $3.342T (prior $3.4T); vehicle sales decline 0.6% YoY. Data highlights pressures ahead of Trump-Xi talks.
Fed's Mary Daly Downplays Policy Divisions
San Francisco Fed President Mary Daly minimizes rifts over recent policy statements amid Iran tensions and economic data releases.