SYDNEY (Reuters) - Asian share markets dithered on Friday as investors waited for concrete signs of progress in the U.S.-Mexican trade standoff, while bracing for a U.S. jobs report that could sway the course of interest rates there.
WASHINGTON (Reuters) - A group of major automakers on Thursday backed a compromise on vehicle emissions aimed at heading off a confrontation between California and the Trump administration over requirements through 2026, warning that the lack of a deal could lead to “an extended period of litigation and instability.”
TOKYO (Reuters) - Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts.
KEY POINTS
- Fiat Chrysler, the No. 4 automaker in the United States, reported a 2.1% rise in sales to 218,702 vehicles.
- Japanese automaker Toyota sold 222,174 vehicles, recording a 3.2% rise.
- S. auto sales are expected to be about 16.9 million units in 2019, a 2.5% fall from 2018.
Major automakers on Monday posted higher U.S. new vehicle sales for May, the first increase for 2019 as a strong economy and upbeat consumer sentiment fueled demand.
KEY POINTS
- The Caixin/Markit factory Purchasing Managers’ Index for May was 50.2, slightly above the 50 level which analysts polled by Reuters had expected. The PMI reading for April was 50.2.
- PMI readings above 50 indicate expansion, while those below that signal contraction.
- Growth of new orders grew in May, and the rate of new business growth quickened slightly in the last month, Caixin said in a statement on Monday.
- Says unreasonable U.S. demands led to the collapse of talks
- China’s prerequisites for any deal are unchanged: Wang Shouwen
China’s government says it’s willing to work with the U.S. to end an escalating trade war but blames President Donald Trump’s administration for the collapse in talks and won’t be pressured into concessions.