US service sector momentum softened at the end of 2025, with Services PMI finalized at 52.5 in December, down from 54.1 in November and the lowest level in eight months. Composite PMI also eased to 52.7 from 54.2, pointing to slower but still expansionary growth as the year closed. According to S&P Global Market Intelligence…
The ISM Manufacturing Index fell to 47.9 in December, down from November’s reading of 48.2. Only two industries reported growth last month, down from four in November. The share of manufacturing GDP reporting a contraction increased sharply to 85 percent, up from 58 percent in November. Demand conditions remain in contraction but improved somewhat. New…
TRM’s report shows crypto is now embedded in state economic and security planning, not treated as a fringe asset. A new report by blockchain intelligence firm TRM Labs has revealed that governments around the world are no longer standing on the sidelines of crypto markets, with states from North Korea to Singapore actively putting…
Week in review The US stock markets started 2026 on a high note, with the S&P 500 and Nasdaq rallying on the first trading day thanks to renewed investor confidence. Technology companies led the comeback, with giants like Nvidia and Broadcom posting strong gains after a few difficult days at the end of December. Although…
Canadian Highlights Canada’s economy starts 2026 under a cloud as underlying domestic demand remains weak. Trade losses with the U.S. have been primarily offset by gains in resource, metals, and agricultural trade, while key manufactured goods still face tariff challenges. Building on positive momentum while addressing key underlying issues will be critical for success in…
Labour market data will be back in focus next week with the dual release of Canadian and U.S. December employment reports on Friday, the first major Canadian data release of 2026 and an important input ahead of the Bank of Canada’s January policy decision. After a series of firmer-than-expected labour market prints through the fall,…
US PMI Manufacturing was finalized at 51.8 in December, easing from November’s 52.2 and marking the weakest expansion in the current five-month growth stretch. While activity remains in growth territory, the slowdown points to fading momentum as the sector heads into 2026. According to S&P Global Market Intelligence, output continued to rise in December, implying…
In focus today Over Christmas, markets have focused on geopolitical developments and the FOMC minutes released the day before New Year’s Eve. Otherwise, markets have remained relatively calm ahead of the critical US and euro area figures set for release over the coming days. For today, December manufacturing PMIs are set to be released for…
US initial jobless claims fell -16k to 199k in the week ending December 27, well below expectation of 215k. Four-week moving average of initial claims rose 2k to 219k. Continuing claims fell -47k to 1866k in the week ending December 20. Four-week moving average of continuing claims fell -20k to 1874k. Full US jobless claims…
Key takeaways Global equities stayed resilient in 2025, absorbing tariff-driven trade shocks and US-China tensions, with the iShares MSCI All World Index on pace for a strong third consecutive double-digit annual gain. Asia and several emerging markets led performance, with South Korea, Brazil, and Hong Kong topping year-to-date returns, while the US outperformed only when…