Latest news with #ISM
New Straits Times
29 minutes ago
- Business
- New Straits Times
Shares dither, dollar falls as trade angst persists
SINGAPORE: Asia shares edged cautiously higher on Tuesday while the dollar fell to a six-week low as erratic US trade policies clouded over markets and investors turned defensive ahead of key developments later in the week. US President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets to see if the tariff-induced blow to global stocks and the dollar this year could get some reprieve or ratchet up, as trade tensions between the world's two largest economies simmer. Data on Monday showed US manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. "The May ISM showed tariff pressure is beginning to bite for manufacturers who are seeing slowing activity, longer lead times and declining inventories," said economists at Wells Fargo. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating US tariffs are starting to hurt manufacturers. The gloomy global trade situation left US futures falling early in the Asian session, failing to sustain the slight gains made during the cash session on Wall Street overnight. Nasdaq futures and S&P 500 futures were both down 0.2 per cent each. In Europe, EUROSTOXX 50 futures advanced 0.28 per cent and FTSE futures added 0.15 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to last trade 0.6 per cent higher, while Japan's Nikkei rose 0.66 per cent. "Trump really does have sentiment in the palm of his hands once again," said Matt Simpson, senior market analyst at City Index. "I suspect we'll hear about 'a really great call' or words to the effect," he said, referring to the expected call between Trump and Xi. "But we'll need to wait for confirmation from China, who tends to take their time on these matters. Until we get concrete confirmation, price action could be shaky and vulnerable to false also have the June 4 deadline for 'best trade deals' from US trading partners to factor in." In China, mainland markets returned from an extended break on a muted note, with the CSI300 blue-chip index up 0.23 per cent while the Shanghai Composite Index gained 0.3 per cent. Hong Kong's Hang Seng Index jumped more than one per cent, rebounding from Monday's one-month low. PAYROLLS ON DECK The dollar fell to a six-week low against a basket of currencies to 98.58 on Tuesday, ahead of Friday's US nonfarm payrolls data, which will offer a timely reading on the pulse of activity in the world's largest economy. A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. The euro scaled a six-week top earlier in the session before paring some of its gains to last trade at US$1.1426, while sterling dipped 0.09 per cent to US$1.3532. A softer US jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the five per cent barrier as investors demand a higher premium to offset the ever-expanding supply of debt. The Senate this week will start considering a tax-and-spending bill that will add an estimated US$3.8 trillion to the federal government's US$36.2 trillion in debt. "The evidence suggests term premium being re-priced considerably higher to account for US fiscal, trade, credit, and geoeconomic risks alongside some hedge against (US dollar) debasement," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. The dollar was up 0.35 per cent against the yen at 143.20, reversing some of its 0.9 per cent decline from the previous session. Bank of Japan Governor Kazuo Ueda said on Tuesday it is important to make policy judgements without any preset ideas as uncertainty over global tariff policies remains extremely high. In commodities, oil prices rose on concerns about supply, with Brent crude futures climbing 0.88 per cent to US$65.20 a barrel, while US crude surged one per cent to US$63.13 per barrel. Spot gold rose to a roughly one-month high of US$3,392.03 an ounce.
Yahoo
an hour ago
- Business
- Yahoo
Markets Close in Green on Mostly Quiet Trading Day
Monday, June 2, 2025Markets closed flat-to-up on this first trading day of the last month of calendar Q2. The Dow, which had collapsed -416 points at session lows, finished +35 points, +0.08%. The S&P 500 rose +24 points, +0.41%, while the Nasdaq outperformed the field: +128 points, +0.67%. The small-cap Russell 2000 rose +0.19% on the recent trade tensions — specifically, the raised tariff on steel and aluminum to +50% announced by President Trump late Friday — were a renewed interest in the AI trade once again supported tech stocks, while oil companies caught a bid on $63 barrels of oil today. All in all, it was a quiet day for data, relatively: Jobs Week reports begin with the JOLTS numbers out Tuesday morning. For the month of May, S&P final Manufacturing PMI and ISM Manufacturing reports showed a slight decline on the former and an in-line print on the latter. The S&P headline of 52.0 was 30 basis points (bps) below estimates, which were flat month over month. ISM came in at +48.5% — as expected and down 20 bps from the April headline, but still below the 50 threshold between growth and loss. Analysts had been expecting a rebound into positive Construction Spending for April, but at -0.4% this headline came 60 bps below estimates to +0.2%. This followed -0.8% print for March, which was the lowest we've seen since September of last year. It also marks the thirds negative month in the first four for 2025. The April totals of the Job Openings and Labor Turnover Survey (JOLTS) hit the tape Tuesday morning. They are expected to tick down month over month to 7.1 million from 7.2 million reported, and are the first in a series of labor force data this week, which we call Jobs Orders, also for April, will be out tomorrow as well, after the opening bell. Much like the downturn in Construction Spending we saw today for April, Factory Orders are expected to dip into negative territory, likely based on questions and concerns related to the trade war. Orders are forecast to reach -3.3% for the month from +4.3% reported for while we basically consider calendar Q1 earnings season completed, we still have a few companies of consequence reporting this week. Among them, Dollar General DG, up +28% year to date, is expected to deliver negative -10.9% earnings per share on +3.76% in revenue growth. That will be before the opening bell Tuesday. After the market closes, cybersecurity major CrowdStrike CRWD is projected to bring negative -29% earnings per share growth on +20% in revenues. This company has never missed an earnings estimate since its 2019 or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Business
- Yahoo
Shares dither, dollar falls as trade angst persists
By Rae Wee SINGAPORE (Reuters) - Asia shares edged cautiously higher on Tuesday while the dollar fell to a six-week low as erratic U.S. trade policies clouded over markets and investors turned defensive ahead of key developments later in the week. U.S. President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets to see if the tariff-induced blow to global stocks and the dollar this year could get some reprieve or ratchet up, as trade tensions between the world's two largest economies simmer. Data on Monday showed U.S. manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. "The May ISM showed tariff pressure is beginning to bite for manufacturers who are seeing slowing activity, longer lead times and declining inventories," said economists at Wells Fargo. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating U.S. tariffs are starting to hurt manufacturers. The gloomy global trade situation left U.S. futures falling early in the Asian session, failing to sustain the slight gains made during the cash session on Wall Street overnight. Nasdaq futures and S&P 500 futures were both down 0.2% each. In Europe, EUROSTOXX 50 futures advanced 0.28% and FTSE futures added 0.15%. MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to last trade 0.6% higher, while Japan's Nikkei rose 0.66%. "Trump really does have sentiment in the palm of his hands once again," said Matt Simpson, senior market analyst at City Index. "I suspect we'll hear about 'a really great call' or words to the effect," he said, referring to the expected call between Trump and Xi. "But we'll need to wait for confirmation from China, who tends to take their time on these matters. Until we get concrete confirmation, price action could be shaky and vulnerable to false also have the June 4 deadline for 'best trade deals' from U.S. trading partners to factor in." In China, mainland markets returned from an extended break on a muted note, with the CSI300 blue-chip index up 0.23% while the Shanghai Composite Index gained 0.3%. Hong Kong's Hang Seng Index jumped more than 1%, rebounding from Monday's one-month low. PAYROLLS ON DECK The dollar fell to a six-week low against a basket of currencies to 98.58 on Tuesday, ahead of Friday's U.S. nonfarm payrolls data, which will offer a timely reading on the pulse of activity in the world's largest economy. A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. The euro scaled a six-week top earlier in the session before paring some of its gains to last trade at $1.1426, while sterling dipped 0.09% to $1.3532. A softer U.S. jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the 5% barrier as investors demand a higher premium to offset the ever-expanding supply of debt. [US/] The Senate this week will start considering a tax-and-spending bill that will add an estimated $3.8 trillion to the federal government's $36.2 trillion in debt. "The evidence suggests term premium being re-priced considerably higher to account for U.S. fiscal, trade, credit, and geoeconomic risks alongside some hedge against (U.S. dollar) debasement," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. The dollar was up 0.35% against the yen at 143.20, reversing some of its 0.9% decline from the previous session. Bank of Japan Governor Kazuo Ueda said on Tuesday it is important to make policy judgements without any preset ideas as uncertainty over global tariff policies remains extremely high. In commodities, oil prices rose on concerns about supply, with Brent crude futures climbing 0.88% to $65.20 a barrel, while U.S. crude surged 1% to $63.13 per barrel. [O/R] Spot gold rose to a roughly one-month high of $3,392.03 an ounce. [GOL/] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Perth Now
an hour ago
- Business
- Perth Now
Shares dither, dollar falls as trade angst persists
Asia shares have edged cautiously higher while the dollar fell to a six-week low as erratic US trade policies clouded over markets and investors turned defensive ahead of key developments later in the week. US President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets to see if the tariff-induced blow to global stocks and the dollar this year could get some reprieve or ratchet up, as trade tensions between the world's two largest economies simmer. Data on Monday showed US manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. "The May ISM showed tariff pressure is beginning to bite for manufacturers who are seeing slowing activity, longer lead times and declining inventories," said economists at Wells Fargo. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating US tariffs are starting to hurt manufacturers. The gloomy global trade situation left US futures falling early in the Asian session, failing to sustain the slight gains made during the cash session on Wall Street overnight. Nasdaq futures and S&P 500 futures were both down 0.2 per cent each. In Europe, EUROSTOXX 50 futures advanced 0.28 per cent and FTSE futures added 0.15 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to last trade 0.6 per cent higher, while Japan's Nikkei rose 0.66 per cent on Tuesday. "Trump really does have sentiment in the palm of his hands once again," said Matt Simpson, senior market analyst at City Index. "I suspect we'll hear about 'a really great call' or words to the effect," he said, referring to the expected call between Trump and Xi. "But we'll need to wait for confirmation from China, who tends to take their time on these matters. Until we get concrete confirmation, price action could be shaky and vulnerable to false breaks ... we also have the June 4 deadline for 'best trade deals' from US trading partners to factor in." In China, mainland markets returned from an extended break on a muted note, with the CSI300 blue-chip index up 0.23 per cent while the Shanghai Composite Index gained 0.3 per cent. Hong Kong's Hang Seng Index jumped more than 1 per cent, rebounding from Monday's one-month low. The dollar fell to a six-week low against a basket of currencies to 98.58 on Tuesday, ahead of Friday's US nonfarm payrolls data, which will offer a timely reading on the pulse of activity in the world's largest economy. A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. The euro scaled a six-week top earlier in the session before paring some of its gains to last trade at $1.1426, while sterling dipped 0.09 per cent to $1.3532. A softer US jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the five per cent barrier as investors demand a higher premium to offset the ever-expanding supply of debt. The Senate this week will start considering a tax-and-spending bill that will add an estimated $US3.8 trillion ($A5.9 trillion) to the federal government's $US36.2 trillion ($A55.8 trillion) in debt. "The evidence suggests term premium being re-priced considerably higher to account for US fiscal, trade, credit, and geoeconomic risks alongside some hedge against (US dollar) debasement," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. The dollar was up 0.35 per cent against the yen at 143.20, reversing some of its 0.9 per cent decline from the previous session. Bank of Japan Governor Kazuo Ueda said on Tuesday it is important to make policy judgements without any preset ideas as uncertainty over global tariff policies remains extremely high. In commodities, oil prices rose on concerns about supply, with Brent crude futures climbing 0.88 per cent to $US65.20 ($A100.52) a barrel, while US crude surged one per cent to $US63.13 ($A97.32) per barrel. Spot gold rose to a roughly one-month high of $US3,392.03 ($A5,229.33) an ounce.
West Australian
an hour ago
- Business
- West Australian
Shares dither, dollar falls as trade angst persists
Asia shares have edged cautiously higher while the dollar fell to a six-week low as erratic US trade policies clouded over markets and investors turned defensive ahead of key developments later in the week. US President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets to see if the tariff-induced blow to global stocks and the dollar this year could get some reprieve or ratchet up, as trade tensions between the world's two largest economies simmer. Data on Monday showed US manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. "The May ISM showed tariff pressure is beginning to bite for manufacturers who are seeing slowing activity, longer lead times and declining inventories," said economists at Wells Fargo. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating US tariffs are starting to hurt manufacturers. The gloomy global trade situation left US futures falling early in the Asian session, failing to sustain the slight gains made during the cash session on Wall Street overnight. Nasdaq futures and S&P 500 futures were both down 0.2 per cent each. In Europe, EUROSTOXX 50 futures advanced 0.28 per cent and FTSE futures added 0.15 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to last trade 0.6 per cent higher, while Japan's Nikkei rose 0.66 per cent on Tuesday. "Trump really does have sentiment in the palm of his hands once again," said Matt Simpson, senior market analyst at City Index. "I suspect we'll hear about 'a really great call' or words to the effect," he said, referring to the expected call between Trump and Xi. "But we'll need to wait for confirmation from China, who tends to take their time on these matters. Until we get concrete confirmation, price action could be shaky and vulnerable to false breaks ... we also have the June 4 deadline for 'best trade deals' from US trading partners to factor in." In China, mainland markets returned from an extended break on a muted note, with the CSI300 blue-chip index up 0.23 per cent while the Shanghai Composite Index gained 0.3 per cent. Hong Kong's Hang Seng Index jumped more than 1 per cent, rebounding from Monday's one-month low. The dollar fell to a six-week low against a basket of currencies to 98.58 on Tuesday, ahead of Friday's US nonfarm payrolls data, which will offer a timely reading on the pulse of activity in the world's largest economy. A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. The euro scaled a six-week top earlier in the session before paring some of its gains to last trade at $1.1426, while sterling dipped 0.09 per cent to $1.3532. A softer US jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the five per cent barrier as investors demand a higher premium to offset the ever-expanding supply of debt. The Senate this week will start considering a tax-and-spending bill that will add an estimated $US3.8 trillion ($A5.9 trillion) to the federal government's $US36.2 trillion ($A55.8 trillion) in debt. "The evidence suggests term premium being re-priced considerably higher to account for US fiscal, trade, credit, and geoeconomic risks alongside some hedge against (US dollar) debasement," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. The dollar was up 0.35 per cent against the yen at 143.20, reversing some of its 0.9 per cent decline from the previous session. Bank of Japan Governor Kazuo Ueda said on Tuesday it is important to make policy judgements without any preset ideas as uncertainty over global tariff policies remains extremely high. In commodities, oil prices rose on concerns about supply, with Brent crude futures climbing 0.88 per cent to $US65.20 ($A100.52) a barrel, while US crude surged one per cent to $US63.13 ($A97.32) per barrel. Spot gold rose to a roughly one-month high of $US3,392.03 ($A5,229.33) an ounce.
