Futures Drop on Trade Uncertainty, OPEC+ Supply Surge
Stock futures drop as uncertainty around US trade policy hung over markets, threatening the end of the S&P 500's longest winning streak in two decades. Oil prices fall as OPEC+ agreed to increase output, raising concerns over a global glut. Warren Buffett's surprise announcement that he will step down as CEO of Berkshire Hathaway by the end of the year drags shares down in pre-market trading. Sonja Marten of DZ Bank says we shouldn't write off the dollar despite its rapid depreciation and Jack Caffrey of JPMorgan Asset Management says the Fed wants to be friendlier. 'Bloomberg Brief' delivers the market news, data and analysis you need to set your agenda. (Source: Bloomberg)
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CNBC Daily Open: It's a dicey matter to play 'chicken' in markets
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Business Upturn
an hour ago
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India's manufacturing PMI slips to 3-month low in May, employment hits record high
India's manufacturing sector remained in expansion mode in May 2025, although momentum softened compared to April, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI) released by S&P Global. The PMI dipped to 57.6 in May from 58.2 in April — a three-month low — signaling a slower pace of growth in output and new orders. Despite the decline, the reading remained well above the neutral 50-mark and its long-run average of 54.1. According to the HSBC report, while domestic and international demand continued to support business activity, cost inflation, intense market competition, and concerns surrounding the India-Pakistan conflict acted as drags on growth. Manufacturers reported notable increases in selling prices, driven by higher input costs — the steepest seen in nearly a year. One standout in the data was employment. May witnessed the highest rate of job creation since the survey began, with permanent roles rising significantly. Firms also ramped up their input purchases to meet future demand, even as inventory of finished goods fell for the sixth consecutive month. New export orders rose strongly, with firms citing better demand from the US, Europe, Asia, and the Middle East. Despite the challenges, sentiment for future output remained robust, driven by marketing efforts and fresh customer enquiries. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Economic indicators like PMI are subject to revisions and contextual interpretation. Please consult official sources or financial experts before making business decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
an hour ago
- Yahoo
Oil Rises as OPEC+ Boosts Supply Less Than Expected
Oil advanced off the back of geopolitical tensions and as OPEC+ hiked production less than some had feared. OPEC+ agreed to surge oil output for the third month in a row, doubling down on a policy shift that has sent crude prices sinking. The nations agreed to add 411,000 barrels a day to the market in July. Bloomberg's Anthony di Paola reports.
