Tesla's 2026 trajectory is marked by a stark divergence between its soaring stock price and weakening automotive fundamentals. Since the June 2025 debut of its robotaxi service in Austin, shares have surged over 50%, fueled largely by Elon Musk's ambitious projections for full self-driving and ride-hailing, despite the service being limited to just Austin and the San Francisco Bay Area
U.S. inflation edged higher in December 2025, with consumer prices rising 0.3% for the month and annual inflation holding steady at 2.7%. Housing costs were the biggest contributor, continuing to put pressure on overall inflation. Food prices also increased, driven by higher grocery and restaurant costs, while energy prices rose only modestly as falling gasoline prices offset higher utility costs.
Glencore is in early talks to merge with Rio Tinto in a deal that could create the world's largest copper producer. The companies are negotiating over Glencore's coal business, which conflicts with Rio Tinto's ESG rules, and a decision is expected by February 5, 2026. Glencore is also managing operational challenges, including lower copper and zinc production, while aiming for
In October 2025, the U.S. goods and services trade deficit fell sharply to $29.4 billion, down $18.8 billion from September's revised $48.1 billion. This decrease reflected a $19.2 billion drop in the goods deficit and a slight $0.4 billion decline in the services surplus. Exports rose 2.6% to $302.0 billion, while imports fell 3.2% to $331.4 billion. Goods exports increased $7.1
The U.S. services sector ended December 2025 on a strong note, with the ISM Services PMI rising to 54.4, its highest reading of the year and marking ten consecutive months of expansion. Demand improved notably as both business activity and new orders increased, signaling healthy momentum going into the new year. Employment returned to growth after several months of weakness, suggesting
The ISM Manufacturing PMI fell to 47.9 in December 2025, showing that the U.S. manufacturing sector contracted for the 10th month in a row. This was a 0.3 percentage point decline from November and the lowest reading of the year. Despite the ongoing weakness in manufacturing, the overall U.S. economy continued to grow for the 68th consecutive month. Production remained in
At today's Monetary Policy Meeting, the Bank of Japan unanimously decided to raise the overnight interest rate to 0.75 percent. As a result, the interest rate paid on deposits that financial institutions hold at the Bank of Japan, excluding required reserves, will now be 0.75 percent. The Bank noted that Japan's economy is recovering moderately, although some areas remain weak.
The outlook for 2026 suggests continued solid growth in both the global economy and oil demand, while growth in oil supply is expected to slow compared with 2025. Global economic growth in 2026 is forecast to remain strong at 3.1%, supported by ongoing fiscal spending in major economies and easing trade uncertainty. Key contributors to this growth include India, expected to
Bank of England lowered the Bank Rate to 3.75% in a narrow 5–4 vote. The majority opted for the cut because inflation has fallen to 3.2% and is expected to hit the 2% target by mid-2026, while a cooling labor market and stagnant GDP growth suggest the economy needs less "restriction." However, the four dissenting members argued for holding rates
The U.S. job market was steady in November 2025 after disruptions caused by the federal government shutdown earlier in the fall. Employers added 64,000 jobs, and the unemployment rate stayed at 4.6 percent. Wages continued to grow at a moderate pace, with average hourly earnings up 3.5 percent over the past year, even though hiring was not strong. The government shutdown
In December 2025, the UK private sector showed signs of renewed momentum, with the S&P Global Flash PMI Composite Output Index rising to 52.1 from 51.2 in November, marking a two-month high. Both the services and manufacturing sectors contributed to the acceleration, with manufacturing output reaching a 15-month high. The increase in output was supported by the strongest rise in
The Swiss National Bank (SNB) has decided to leave its policy rate unchanged at 0%. Banks' sight deposits up to a certain threshold will continue to earn interest at this rate, while deposits above the threshold face a 0.25 percentage point discount. The SNB also remains ready to intervene in the foreign exchange market if needed.
The Federal Reserve has cut the interest rate paid on reserve balances to 4.4%, effective December 19, 2024, and set the federal funds target range at 4.25% to 4.5%. To support this, the Fed will carry out operations to keep short-term rates within this range, including overnight repurchase agreements at 4.5% and reverse repos at 4.25%. It will manage Treasury
The U.S. labor market was largely stable in October 2025. Job openings stayed at 7.7 million, with the rate unchanged at 4.6 percent. The federal government was the only sector with a noticeable decline in openings. Hires also held steady at 5.1 million, and there were no major shifts across industries. Total separations remained at 5.1 million. Quits were unchanged
In November 2025, the U.S. services sector grew modestly, with the ISM Services PMI at 52.6, marking the ninth month of expansion. Growth continues despite challenges from tariffs, government shutdown. Business activity and new orders remain positive, though demand shows some caution. Employment is still declining but at a slower pace, while prices are rising more slowly than before. Supplier
In November 2025, the U.S. manufacturing sector continued to contract, with the Manufacturing PMI at 48.2% for the ninth consecutive month, even as the overall economy kept growing. Production improved and moved into expansion, but new orders and employment fell, with many companies reducing staff rather than hiring. Raw material prices, particularly steel and aluminum, rose for the 14th month,
Seasonally adjusted initial jobless claims fell to 216,000, down 6,000 from the prior week, while the four-week average edged down to 223,750. The insured unemployment rate held steady at 1.3%, with continuing claims rising slightly to 1.96 million. Unadjusted initial claims rose to 243,992, up 11.8% from the prior week but still close to last year's level. Unadjusted continuing claims
The OCR has been reduced to 2.25%, and the economy is being supported by low interest rates and strong export prices, especially for meat, fruit, and dairy. These sectors are performing well, while industries focused on domestic consumers, such as retail and construction, are struggling. Lower interest rates are encouraging more household spending and business investment, and home construction is
In September 2025, the U.S. economy added 119,000 jobs, continuing a period of weak job growth that has lasted since the spring. The unemployment rate stayed at 4.4 percent, slightly higher than it was a year earlier. This report was released more than six weeks late because of a federal government shutdown. September household data were collected before the shutdown,
In October 2025, CPIH inflation eased to 3.8% from 4.1% in September, while CPI fell to 3.6% from 3.8%. On a monthly basis, both CPIH and CPI rose 0.4%, slower than the 0.6% increases recorded a year earlier. Housing and household services drove the largest downward pull on annual inflation, while food and non-alcoholic beverages provided the strongest upward offset.
In the three months to September 2025, UK GDP grew by 0.1%, easing from 0.2% in the three months to August. Services output rose by 0.2%, down from 0.3%, while production output fell by 0.5% after a 0.1% decline previously. Construction output increased by 0.1%, compared with 0.4% in August. In the month of September 2025, GDP fell by 0.1%,
From September 2024 to September 2025, the number of payrolled employees in the UK fell by 117,000, with a small drop of 32,000 between August and September 2025. For July to September 2025, there was a yearly decrease of 109,000 and a quarterly drop of 26,000. The employment rate for people aged 16–64 was 75.0%, slightly down from the
The October 2025 ISM Services PMI showed the U.S. services sector returning to growth, with a reading of 52.4%, up from 50% in September. This marks the sector's eighth month of expansion in 2025 and signals continued overall economic growth for the 65th straight month. Business activity (54.3%) and new orders (56.2%) both rebounded strongly, while employment (48.2%) remained in contraction
The October 2025 ISM® Manufacturing PMI® registered 48.7%, signaling the eighth consecutive month of contraction in the U.S. manufacturing sector. This marks a 0.4-point decrease from September's 49.1%, driven primarily by declines in production and inventories. Despite ongoing weakness in manufacturing, the broader U.S. economy continues to expand, with the PMI® reading corresponding to an estimated +1.8% annualized GDP growth,