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August US Leading Index Falls Unexpectedly After July Increase

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The Conference Board's measure of leading indicators decreased by 0.1% in August, compared with the expectations for a 0.1% increase in a survey compiled by Bloomberg and following a 0.2% increase in July.

This is the first monthly decline since March.

There were negative contributions from four of the 10 components, with a decline in business conditions expectations the largest factor.

The Conference Board said that the six-month growth rate has turned negative due to the August decline, while growth rate is expected to slow in the near future.

What else is happening in International?

International

Bank of Japan Hikes Interest Rate to 31-Year High

The Bank of Japan raised its benchmark policy rate to a 31-year high of 1.25% from 1.0% at the conclusion of its monetary policy meeting on Friday.The decision, approved by a 7-2 vote, was in line with market expectations and marked the second rate hike for the central bank this year.The BOJ last raised its benchmark policy rate to 1.0% from 0.75% in June.The central bank said Japan's economy is recovering moderately, although some weakness remains due geopolitical uncertainties acting as risks to the outlook.The economy is expected to continue growing moderately, driven by rising global AI-related demand and various government measures, the BOJ said.Rising crude oil prices and the depreciation of the yen have pushed medium- to long-term inflation expectations higher, bringing the underlying rate of consumer price inflation closer to the BOJ's 2% target.

Nikkei 225
International

Korea's Auto Exports Plunge in August on Fewer Working Days, Strikes

Korea's automobile exports fell nearly 30% year over year to $3.85 billion in August, hit by fewer working days from the summer holiday shift and strike-related production disruptions, according to the Ministry of Trade, Industry and Resources (MOTIR).Declines were recorded across all major markets, with North America down over 28%, the EU falling nearly 17%, Asia tumbling 42%, and the Middle East slid 24%, while export volume dropped 27% to 146,000 units.Domestic sales and production fell 21% and 36%, respectively, to 110,000 and 206,000 units, though eco-friendly vehicle sales reached 69,000 units, or 63% of the domestic market.With wage negotiations now concluded at all major automakers, the ministry expects the shortfall to be made up and exports and production to gradually recover.

KOSPI
International

South Korea Extends Fuel Tax Cuts Through November to Ease Public Burden

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KOSPI