Latest news with #economicweakness
Bloomberg
15 hours ago
- Business
- Bloomberg
China's Industrial Profits Plummet as Trump's Tariffs Hit
By Updated on Save China's industrial firms saw their profits drop the most since October, illustrating weakness in an economy strained by higher US tariffs and lingering deflationary pressure. Industrial profits fell 9.1% last month from a year earlier, according to data released Friday by the National Bureau of Statistics. The May reading reversed a modest gain earlier this year and took decline in the first five months to 1.1%.
Yahoo
a day ago
- Business
- Yahoo
Jobless claims hit 2021 high & Q1 GDP revised lower
Jobless claims rose, and first quarter GDP was revised lower to a 0.5% decline, signaling possible economic weakness. Yahoo Finance Markets Reporter Josh Schafer joins Morning Brief to break down fresh economic data, market reaction, and the possibility of President Trump naming a new Fed chair early. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Joining me now, we've got markets reporter Josh Shafer, senior reporter Ali Kanal live from the Nasdaq and senior healthcare reporter Angeli Camlani. Josh, let's start with you. You're taking a closer look at the economic data out this morning. What do we know there? What have we seen? Yeah, Brad, so you mentioned that first quarter GDP number again, that would be economic growth that ended back in March, right? So pretty backward looking at this point. That was revised lower from 0.2% decline to a 0.5% decline for that first quarter GDP. But I was also keeping a close eye on continuing claims this morning. So this is continuing people that file week after week for unemployment benefits. That ticked up to its highest level since November of 2021. So an interesting data point to keep watching there as more Americans continue to sort of struggle to find new jobs once they are out of a job. And so, just a second more on this, especially considering we're hearing more about the Fed and how they're evaluating a lot of the economic data that's come out with some of the questioning that we've heard from Fed chair Powell, really looking at the quality of the data, but also how that's interpreted and who interprets it might be changing, at least at the chair position. What are we hearing about what President Trump is thinking through of who the next Fed chair might be? Yeah, Brad. So it sounds like from that report from the Wall Street Journal that President Trump would be interested in perhaps eliminating, or sorry, nominating a new Fed chair earlier than chair Powell, than chair Powell's nomination or time at as the Fed chair being over. So that would be sort of an interesting move for markets, but I think your your move in futures right now is sort of telling you that maybe the market could look past that, right? We're showing the dollar, that has moved lower. But overall, stocks at this point not really impacted by that. And I would go back to the discussion from really two months ago now when there was discussion of perhaps Trump removing Powell. Strategists sort of argue that the key in that whole discussion is just investors want security in what is happening with the central bank, and knowing the central bank would be there to cut interest rates if something was going on in the economy, raise interest rates if they need to. They just want to know there's a stability factor there. And at least for this morning, these reports don't seem to really be testing that overall thesis for investors. 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
Bloomberg
19-06-2025
- Business
- Bloomberg
Top Russian Steelmaker Sees Risk of Shutdowns as Economy Slows
Slumping Russian steel demand, due to a construction slowdown amid broader economic weakness, may force some of the country's producers to halt output, according to Severstal PJSC 's chief. 'The shutdown of some metallurgical production facilities in Russia can not be ruled out as a measure to balance supply,' Severstal's Chief Executive Officer Alexander Shevelev said in interview with Rossiya-24 television channel.
Wall Street Journal
18-06-2025
- Business
- Wall Street Journal
Sweden's Central Bank Cuts Rate Amid Economic Uncertainty
STOCKHOLM–Sweden's central bank cut its key policy rate to 2% Wednesday and said there was a small chance of further easing later this year if economic weakness persists and inflation falls further. The decision was in line with a Wall Street Journal poll.
