President Donald Trump’s u-turn on Liberation Day tariffs may have spared the U.S. economy from a hard landing, but UBS warns that recession risks are climbing once again, backed by a cocktail of hard data, rates, and credit signals.
The U.S. light vehicle sales rate slumped in May by the most in about five years following a rush by auto shoppers during the previous two months to beat anticipated price hikes stoked by President Donald Trump's tariffs on imported automobiles.
Oil prices fell slightly in Asian trade on Wednesday after clocking a strong run-up in the past two sessions as traders braced for potentially tighter crude supplies in the coming months.
Most Asian stocks rose on Tuesday with regional technology shares tracking some strength in their U.S. peers, although investors remained largely on edge over U.S.-China trade ructions and soft economic conditions.
Oil prices ticked up on Tuesday supported by rising geopolitical tensions as Russia and Ukraine ramped up the war and Iran was set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer.
The dollar hovered near six-week lows on Tuesday, as mounting evidence of economic damage from the trade war waged by President Donald Trump’s administration weighed on sentiment.