US equity futures held losses after Congress failed to agree to a spending plan, forcing the government into a shutdown that will keep hundreds of thousands of federal workers home from their jobs. Futures on the S&P 500 Index were down 0.4% as of 1:02 a.m. Wednesday after the deadline to fund the government came…
President Donald Trump’s new plan to end the Gaza war is, in essence, an ultimatum to Hamas to release hostages, give up arms and surrender — or face the full force of the Israeli military with the US’s explicit blessing. Trump said Israel would have his “full backing to finish the job” if Hamas rejects…
Listen and subscribe to Elon, Inc. on Apple, Spotify, iHeart and the Bloomberg Terminal This is the final episode of Elon, Inc., and it comes at a fitting point in the story of the highly controversial entrepreneur Elon Musk. The podcast was launched around the time the South Africa native bought and rebranded Twitter, transforming…
The next few weeks will give Wall Street a clear reading on whether this latest stock market rally will continue — or if it’s doomed to get derailed. Jobs reports, a key inflation reading and the Federal Reserve’s interest rate decision all hit over the next 14 trading sessions, setting the tone for investors as…
China’s factory activity remained stuck in contraction in August, as a government crackdown on price wars holds back production and offsets the boost for manufacturers of the US’ extended trade truce. The official manufacturing purchasing managers’ index was 49.4, versus 49.3 in July, the National Bureau of Statistics said Sunday. The median estimate of economists…
Back in 2010, a congressionally mandated US government study spotlighted how China’s dominant position in the rare earths market gave it the power to affect worldwide supply and prices. Rebuilding a US rare earth supply chain might take up to 15 years, the analysis showed. Those 15 years would take us to…right about now. But…
The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. A 7-4 decision by a panel of judges Friday night in Washington was a major setback for Trump even as it gives both…
Welcome to our guide to the commodities markets powering the global economy. Today, China-based energy reporter Dan Murtaugh asks what the rest of the world can learn from the nation’s success in deploying offshore wind turbines. It was only a few years ago that the offshore wind industry conjured a future with a near-limitless supply…
The warming of ties between India and China appears to be accelerating. Both burned by US President Donald Trump’s tariffs on their exports, the world’s most populous nations took a major step last week to move beyond a deadly 2020 border clash by agreeing to redouble efforts to settle such disputes, which date back to…
At the heart of why consumers in China save so much and spend so little, and why Xi Jinping and Donald Trump will struggle to change that behavior even if they want to, lies the country’s stock market. Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath…