The World Trade organisation (WTO), on Tuesday upheld a complaint by China over additional duties slapped by the Trump administration on some $250 billion worth of Chinese goods.
New orders for key US-made capital goods increased more than expected in August and shipments raced to their highest level in nearly six years, suggesting a rebound in business spending on equipment was underway after a prolonged slump.
The US economy collapsed in the midst of the coronavirus pandemic, suffering the largest decline on record, while hopes for a recovery took another hit as job losses increased, according to government data released on Thursday.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
Global stock markets and US futures rose on Tuesday on investor hopes that a possible victory by challenger Joe Biden in the American presidential election might lead to more economic stimulus.
Share markets and the dollar whipsawed while bonds gained on Wednesday as results from the US presidential election proved far closer than polls had predicted, potentially leaving the outcome in doubt for days or even weeks.
Wall Street brushed off data released on Friday showing the US economy adding jobs as US-Chinese tensions mount and a standoff over fresh stimulus continues.
US consumers continued to spend in July but the gains were much slower than the prior two months amid a surge in coronavirus cases, and confidence remained in a “depressed range,” according to new data released on Friday.
US consumer sentiment increased in early September, with Democrats more upbeat about the economy’s outlook compared to Republicans ahead of the Nov. 3 presidential election.