US: US manufacturing output unchanged in May after large gain in April
U.S. factory production was unexpectedly unchanged in May as strength in the output of long-lasting
manufactured goods like motor vehicles was offset by declines in non-durable goods. (Reuters)
Breaking News
US consumer sentiment pushes off record lows as gasoline prices ease
U.S. consumer sentiment bounced off record lows in early June as easing gasoline prices offered households some relief, though concerns about inflation stoked by the Middle East conflict lingered. (Reuters)
US weekly jobless claims increase marginally amid labor market resilience
The number of Americans filing claims for unemployment benefits increased marginally last week, pointing to continued labor market resilience in early June. (Reuters)
Fed faces rising rate hike expectations, Schwab Center’s Martin says
The bar for a Federal Reserve rate hike is falling as the job market remains robust in the face of stubborn price pressures, according to Collin Martin at the Schwab Center for Financial Research. (Bloomberg)
US job openings rise by the most since 2021; hiring weak amid economic uncertainty
US job openings increased by the most in five years in April, but the surge likely overstates the labour market’s health, as hiring declined against the backdrop of economic uncertainty stemming from the Iran war. (The Edge Malaysia)
US Trump administration proposes 25.0% tariff to punish Brazil over trade practices
The Trump administration has proposed a new punitive tariff of 25.0% on many imports from Brazil, after deciding its practices were unfair on a range of issues from digital trade to illegal deforestation, top trade official Jamieson Greer said on Monday. (The Edge Malaysia)
US weighing chip tariffs to spur domestic growth, trade chief says
The Trump administration continues to weigh US tariffs on imported semiconductors to boost domestic chip manufacturing, though there are no immediate plans to impose any new levies, US Trade Representative Jamieson Greer said. (The Edge Malaysia)
US mortgage rates rose last week to an almost two-month high
US mortgage rates increased last week to an almost two-month high, weighing on home purchase activity. The contract rate on a 30-year mortgage rose 10 basis points to 6.56% in the week ended May 15, according to Mortgage Bankers Association data released Wednesday, just shy of the 6.57% reading at the end of March. (Bloomberg)