The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S.J. David Ake | Getty Images News | Getty Images U.S. stocks popped last week on the back of a trade truce between America and China, in which they mutually agreed to cut tariffs for 90 days. Technology stocks soared, with Tesla and Nvidia leading the pack. Absent new developments on the tariff front, however, it’s unclear if this buoyant sentiment can last.For one, the U.S.’ credit rating was downgraded by…
Author: usaeverydaylife
An H&M store in New York City on Nov. 19, 2024.Charly Triballeau | AFP | Getty ImagesWhen Gilberto Loureiro spent summers working in a textile factory as a teenager growing up in Portugal, he discovered that he felt “hate and love” for how clothes were produced.The work was tough: Loureiro’s job was to spend long days standing and watching for flaws in woven fabric as it ran through machines at a rate of about 15 to 20 meters per minute.”I really love the textile industry and problem solving, but I hate this … inspection working and inefficiencies and the waste.…
South Africa has been a focus of President Trump’s criticism in his second term.Mr. Trump has made debunked claims that white farmers in South Africa are being killed in a genocide. On May 12, Mr. Trump welcomed some of those farmers into the United States as refugees. He has also expelled South Africa’s ambassador to the United States and has cut off American aid.South Africa will get its chance to directly rebut what it says is Mr. Trump’s misinformation with President Cyril Ramaphosa’s scheduled visit to the White House on Wednesday.Mr. Ramaphosa faces the political challenge of standing firm on…
Citizens are shopping at a supermarket in Nanjing, East China’s Jiangsu province, on March 9, 2024. Costfoto | Nurphoto | Getty ImagesChina’s retail sales growth slowed in April, data from the National Bureau of Statistics showed Monday, signaling that consumption remains a worry for the world’s second-largest economy.Retail sales rose 5.1% from a year earlier in April, missing analysts’ estimates of 5.5% growth, according to a Reuters poll. Sales had grown by 5.9% in the previous month.Industrial output grew 6.1% year on year in April, stronger than analysts’ expectations for a 5.5% rise, while slowing down from the 7.7% jump in…
Pedestrians walk past the north entrance to the U.S. Treasury Department headquarters building on April 30, 2025, in Washington, DC. J. David Ake | Getty Images U.S. stocks popped last week on the back of a trade truce between America and China, in which they mutually agreed to cut tariffs for 90 days. Technology stocks soared, with Tesla and Nvidia leading the pack. Absent new developments on the tariff front, however, it’s unclear if this buoyant sentiment can last.For one, the U.S.’ credit rating was downgraded by Moody’s Ratings to the second highest. This means investors could demand higher returns…
A man walks past buildings at Central Business District (CBD) in Beijing, China April 8, 2025. Tingshu Wang | ReutersAsia-Pacific markets fell Monday as investors await a slew of economic data from across the region and parse Moody’s downgrade of the U.S. credit rating.Japan’s benchmark Nikkei 225 slipped 0.54% at the open while the Topix lost 0.36%. South Korea’s Kospi declined 0.47% and the small-cap Kosdaq traded 0.77% lower.Australia’s benchmark S&P/ASX 200 was down 0.15% at the open.Futures for Hong Kong’s Hang Seng index stood at 23,270, lower than its last close of 23,345.05.China is scheduled to release a slate of…
The German DAX index has surged 19% so far this year. Source link
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 14, 2025. REUTERS/Brendan McDermidBrendan Mcdermid | ReutersStock futures fell Sunday evening as investors responded to Moody’s downgrade of the U.S.’ credit rating.Futures tied to the Dow Jones Industrial Average dropped 292 points points, or 0.7%. S&P 500 futures pulled back 0.7%, while Nasdaq 100 futures lost 0.8%.Moody’s on Friday bumped the country’s rating down by one notch to Aa1 from Aaa, bringing the agency in line with its peers. The firm cited the financing challenges tied to the federal government’s growing budget…
Presidential candidate Nicusor Dan reacts to first exit polls of Romania’s second round of the presidential election, in Bucharest, Romania, on May 18, 2025.Stoyan Nenov | ReutersRomania’s centrist Bucharest mayor, Nicusor Dan, appeared on course to win the presidency on Sunday in a shock upset over a hard-right rival who had pledged to put Romania on a path inspired by U.S. President Donald Trump’s politics.Official results from about 98% of voting stations showed Dan garnering about 54% of ballots cast by voters in the EU and NATO member country of about 19 million people, while Trump supporter George Simion was…
Hugo Soares, PSD parliamentary leader walks, following the first exit polls, at Portugal’s Social Democratic Party (PSD) and Democratic Alliance (AD) leader Luis Montenegro’s electoral night headquarters, in Lisbon, Portugal, on May 18, 2025.Violeta Santos Moura | ReutersPortugal’s center-right Democratic Alliance (AD) claimed victory in Sunday’s early parliamentary election, but again fell short of a full majority, provisional data showed, leaving the center-left Socialists and far-right Chega neck-and-neck for second spot.The election, the third in as many years, was called just one year into the minority government’s term after Prime Minister Luis Montenegro failed to win a parliamentary vote of…
