Bonds & Stocks
US equity futures posted modest gains, suggesting Wall Street stocks may finally halt a five-day losing streak that’s the longest since April. S&P 500 contracts climbed 0.3%, with those for the tech-heavy Nasdaq 100 up 0.5%. United States Steel Corp. fell 8% in the premarket as President Joe Biden blocked Nippon Steel Corp.’s proposed purchase of the company.
Economy
President-elect Donald Trump’s fast-approaching inauguration means that 2025 promises to be a pivotal year for global trade. From US tariff threats to partners’ possible responses, we’re tracking how a new trade war might play out and exactly what’s at stake for the most-exposed sectors and economies.
World
China’s ironclad grip on the onshore yuan is leading to an unintended side effect. In a potential pitfall for exporters, the yuan has surged to the strongest level since October 2022 versus a basket of trading partners’ exchange rates, according to a Bloomberg tracker of the CFETS Index.