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GLOBAL MARKETS-US stocks end lower, crude gains as Trump-Musk row distracts from trade talks, data
NEW YORK, June 5 (Reuters) - Wall Street veered to a sharply lower close and crude prices advanced on Thursday as a high-profile dispute between U.S. President Donald Trump and billionaire Elon Musk overshadowed trade talks between Washington and Beijing and a spate of downbeat economic data.
Fri, Jun 6
Trump-Musk row slams Tesla shares, $150 billion in market value wiped out
June 5 (Reuters) - Tesla shares went into free-fall on Thursday as President Donald Trump publicly feuded with the electric vehicle maker's billionaire CEO Elon Musk, his self-proclaimed "First Buddy." Investors watched the unfolding drama with growing worry about what the fracas could mean for Musk
Fri, Jun 6
US Cash Crude-Grades rise as US, China teams to meet following Trump, Xi trade call
June 5 (Reuters) - Grades edged higher on Thursday, dealers said, as trader confidence grew after the U.S. and China agreed to more trade talks following a phone call between U.S. President Donald Trump and Chinese leader Xi Jinping.
Fri, Jun 6
Broadcom rides on AI chip demand to deliver upbeat revenue forecast
June 5 (Reuters) - Broadcom AVGO.O forecast third-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its networking and custom AI computing chips.
Fri, Jun 6
UK's Reeves says economy is turning a corner but public restless
LONDON, June 5 (Reuters) - More upbeat business surveys and strong first-quarter GDP show the British economy is recovering from a weak end to 2024, but the public remain restless about slow improvements to living standards, finance minister Rachel Reeves said on Thursday.
Fri, Jun 6
Oil settles up as US, China teams to meet following Trump, Xi trade call
Trump says in social media post US and Chinese teams to meet shortly US gasoline, distillate stocks post big weekly buildsSaudi Arabia cuts prices for Asian crude buyers to 2-month lowBearish economic outlook weighs on oil prices, analysts sayBy Georgina McCartney HOUSTON, June 5 (Reuters) - Oil ...
Thu, Jun 5
Trump reinstates US travel ban, bars citizens of 12 countries
Order bans travel to US from 12 countriesTravel from 7 other countries restrictedTrump cites national security concernsBan becomes effective on June 9By Jeff Mason and Nandita Bose WASHINGTON, June 4 (Reuters) - U.S. President Donald Trump signed a proclamation on Wednesday banning the citizens o...
Thu, Jun 5
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Procter & Gamble to cut 7,000 jobs, exit brands as consumer uncertainty weighs
By Aishwarya Venugopal and Jessica DiNapoli June 5 (Reuters) - Procter & Gamble PG.N will cut 7,000 jobs over the next two years, as the Tide detergent maker contends with an uncertain spending environment, fueled in part by U.S. tariffs that have roiled numerous consumer companies.The world&...
Thu, Jun 5
RPT-COLUMN-Franc leading Swiss back to deflation vortex, asset stockpiling: Mike Dolan
By Mike Dolan LONDON, June 5 (Reuters) - The supercharged Swiss franc is sucking Switzerland back into a deflationary vortex that its central bank will once again struggle to escape, possibly recycling a fresh wave of financial flows back out across the world.The Swiss franc, long perceived as a ...
Thu, Jun 5
Central banks on track for 4th year of massive gold purchases, Metals Focus says
LONDON, June 5 (Reuters) - Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.
Thu, Jun 5
China commerce ministry to join govt crackdown on intense auto competition
BEIJING, June 5 (Reuters) - China's commerce ministry said on Thursday that it would collaborate with other government departments to step up rectification of the excessive competition in the auto market.The ministry will strengthen compliance guidance to ensure fair market competition and promo...
Thu, Jun 5
LIVE MARKETS-Before the bell: awaiting the ECB, and NATO meeting
European shares were set for a muted start on Thursday ahead of an almost-certain rate cut by the European Central Bank, and a NATO meeting, where defence ministers are due to discuss Donald Trump’s demand for significant increases in spending.
Thu, Jun 5
Japan's 30-year bonds rise as weak auction adds to pressure to curtail issuance
TOKYO, June 5 (Reuters) - Japan's 30-year government bond prices rose after the weakest auction of the securities in more than a year added to pressure on the Ministry of Finance to reduce supply of super-long notes.
Thu, Jun 5
Citi to cut 3,500 technology jobs in China as part of global revamp
HONG KONG, June 5 (Reuters) - Citigroup Inc C.N will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as part of its efforts to simplify and shrink its global tech operations to improve risk and data management.The reduction of staff
Thu, Jun 5
Japan's 30-year bonds rise after weak auction outcome, in line with expectations
TOKYO, June 5 (Reuters) - Japan's 30-year government bond prices rose after an auction of the notes saw its weakest outcome in one and a half years, in line with market expectations.The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer,
Thu, Jun 5
GLOBAL MARKETS-Asian shares creep higher, dollar languishes before ECB
TOKYO, June 5 (Reuters) - Shares in Asia crept higher and the U.S. dollar languished ahead of the European Central Bank offering its policy outlook for a tumultuous global economy.
Thu, Jun 5
METALS-Copper inches higher on weaker dollar; tariff developments in focus
June 5 (Reuters) - London copper prices inched up on Thursday amid a weakening U.S. dollar, while the market focus remained on a series of trade talks between the U.S. and its major trading partners.
Thu, Jun 5
US auto suppliers say immediate action needed on China rare earths restrictions
WASHINGTON, June 4 (Reuters) - A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production.
Thu, Jun 5
Japanese shares slip on caution over US economic outlook, stronger yen
TOKYO, June 5 (Reuters) - Japanese shares slipped on Thursday as weak U.S. economic data stoked caution toward the outlook of the world's largest economy, while a stronger yen hurt automakers.
Thu, Jun 5
China May services activity grows despite US tariff concerns, Caixin PMI shows
BEIJING, June 5 (Reuters) - China's services activity expanded at a slightly faster pace in May, with new orders growing more quickly than in April, though new export orders declined due to uncertainty stemming from U.S. tariffs, a private sector survey showed on Thursday.
Thu, Jun 5
