By Amy Lv and Hongmei Li SINGAPORE (Reuters) -China says it wants to cut crude steel output this year but traders and steelmakers are betting Beijing won’t follow through as industry profitability improves and trade tensions weigh on the economy. The world’s largest steel producer in March unveiled plans to cut output and restructure its…
NEW YORK (Reuters) – BMO Capital on Wednesday cut its year-end 2025 S&P 500 target by 9% to 6,100 from the prior 6,700, citing the speed and severity of the recent selloff. In a note to clients, chief investment strategist Brian Belski said the drawdown has “certainly surprised us” and it was necessary to adjust…
BERLIN (Reuters) – Friedrich Merz, Germany’s likely next chancellor, said U.S. President Donald Trump’s pause of tariffs for 90 days was evidence of a united European approach to trade having a positive effect, and called for tariff-free U.S.-EU trade. “Europeans are determined to defend ourselves and this example shows that unity helps most of all,”…
OTTAWA (Reuters) – The probability of a U.S. recession has risen significantly thanks to President Donald Trump’s tariffs and that will have a major negative effect on the Canadian economy, Prime Minister Mark Carney said on Monday. Carney also told a televised news conference he had spoken to Bank of Canada Governor Tiff Macklem and…
By Daina Beth Solomon and Fabian Cambero SANTIAGO (Reuters) – Chile’s total lithium resources are 28% greater than previously estimated, according to new studies of salt flats in the northern Antofagasta region that show a higher amount of the battery metal, state mining body ENAMI said on Monday. A new analysis shows that the La…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – U.S. President Donald Trump’s push for sweeping tariffs is creating great uncertainty and denting confidence but is not likely to trigger a near-term recession, International Monetary Fund Managing Director Kristalina Georgieva said on Monday. “We are not seeing a dramatic impact” yet from the tariffs implemented…
(Reuters) -J.P.Morgan on Tuesday downgraded South African equities to “neutral” from “overweight,” citing concerns over an economic slowdown and the effectiveness of the country’s policy reforms. “While South Africa’s investment case on reforms remains an attractive point of departure, it is unlikely to result in meaningful (economic) growth that’s above 2% in the coming two…
LONDON (Reuters) – Gold exports from Switzerland rose year on year in December as supplies to the United States soared to the highest since March 2022 and offset lower deliveries to top consumer China, Swiss customs data showed on Thursday. Switzerland, the world’s biggest bullion refining and transit hub, along with Britain, home to the…
(Reuters) – Credit ratings agency Fitch on Friday upgraded Sri Lanka’s long-term foreign-currency default rating to ‘CCC+’ from ‘restricted default’ (RD) following approval by creditors of the country’s $12.55 billion debt overhaul earlier this week. The island nation’s bondholders overwhelmingly signed off on the government’s proposal to restructure international bonds, a much-needed step in its…
By Jamie McGeever ORLANDO, Florida (Reuters) – As the classic market cliche goes, investors should worry most when the consensus is overwhelmingly optimistic and be bullish when it’s overwhelmingly bearish. If investors apply this logic to the 2025 U.S. stock market outlook, they should be running for the hills. By many measures – sentiment surveys,…
