China’s exports to the United States surged in the last month of 2024 as traders rushed to beat new tariffs that President-elect Donald Trump has vowed to impose as soon as he takes office on Monday. China’s exports to the U.S. peaked in December at $48.8 billion, the highest monthly total of 2024, according to…
U.S. crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and it bought more barrels from other countries including Russia and Iran. Exports of U.S. oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels…
Wall Street clawed back some of Wednesday’s steep losses after the Federal Reserve pulled back its forecast for rate cuts next year. The Fed lowered its benchmark, short-term fed funds rate late Wednesday by a quarter percentage point, as expected, but pared back its forecast for rate cuts next year. It only expects to cut…
The stock market swooned Wednesday in response to a piece of news that might not seem all that dire on first read: The Federal Reserve could cut interest rates fewer times than experts had predicted, in 2025. The Dow Jones Industrial Average shed 2.6%, or 1,123 points, closing at 42,327. The S&P 500 lost nearly…
Despite stubbornly high inflation recently and a sturdy economy and job market, the Federal Reserve is expected to cut interest rates this week for the third straight meeting. What gives? Some economists say Fed officials could be making a blunder that risks reigniting inflation and undercutting their pledge to rely on the latest data when…
Friday the 13th didn’t spook investors with U.S. stocks little changed on the day as investors bided time until the Federal Reserve meeting on Wednesday. The broad S&P 500 index dipped 0.16 point, or essentially stayed flat, to close Friday at 6,051.09. For the week, it slipped 0.6% to snap a three-week winning streak. The…
Donald Trump’s first trade war hurt American soybean farmers to the tune of $11 billion. A sequel is set to be even worse. The humble bean was the poster child of Trump’s first tariff spat with China, with American shipments to the world’s top buyer of the commodity tumbling 79% in the first two years…
NEW YORK/LONDON, Dec 3 (Reuters) – The Korean won was one of the biggest movers on Tuesday, plunging against the U.S. dollar after South Korea’s president declared martial law in an unannounced late-night address on television. The euro, meanwhile, which has hogged the headlines of late, recovered versus the greenback as political turmoil in France sent traders…
Wall Street’s main indexes were set for a flat open on Monday, with focus on a slew of economic data this week, while Intel shares rose after its CEO retired following its struggles to keep up in the market for AI chips. This week’s centerpiece would be the November nonfarm payrolls report due on Friday,…
President-elect Donald Trump continues to threaten to use tariffs against foreign nations, this time toward a bloc of nine countries if they try to undermine the dollar’s global dominance. In a post Saturday afternoon on Truth Social, Trump called out the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia,…