US stock indexes rose by midday trading on Thursday as investors cheered passage of a bill by lawmakers to suspend the nation's debt ceiling amid bets that the Federal Reserve will skip raising interest rates in its next meeting.

Investors also looked on economic indicators, including the ADP National Employment Report that showed more-than-expected jobs additions in May, while a separate reading said weekly jobless claims increased modestly, both suggesting the labour market's resilience.

Wall St rises on debt ceiling deal cheer, hopes of Fed pause

Federal Reserve officials are signaling they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report.

Governor Philip Jefferson, a centrist who’s nominated to be vice chair and who often echoes Chair Jerome Powell’s views, said Wednesday that skipping an increase would give policymakers time to assess data but not preclude future tightening

Fed signal for rate pause takes pressure off hot jobs report

Stocks rose, with investors in a more optimistic mood after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes.

Miners and media companies led gains as European equities looked to snap three days of declines. The advance echoed a move higher in Asian stocks, where markets got an initial boost from some encouraging economic data out of China.

Stocks rise on debt-deal optimism, Fed pause talk

Asian leaders accustomed to straddling the US-China divide are increasingly nervous that tensions between the world’s two superpowers could spiral toward conflict, with a series of decisions on both sides making it harder for Beijing and Washington to find common ground.

Fear of US-China conflict looms over Singapore defence forum

The European Union (EU) has raised concerns with China about the detailed product information that cosmetics companies like L’Oreal and LVMH have to provide in order to sell their goods in the country.

EU sees red over Chinese demands for cosmetics trade secrets

US manufacturing contracted for a seventh straight month in May as new orders continued to plummet amid higher interest rates, but factories boosted employment to a nine-month high.

US manufacturing slumps further in May while employment picks up — ISM

Employment growth at US companies last month exceeded all projections, highlighting a durable labour market that continues to buttress the economy.

Hiring at US companies in May tops all forecasts, ADP data show

The BRICS group of emerging markets is ramping up its bid for greater global influence and to challenge the US, sensing a moment to capitalise on a splintering world order to build out its ranks beyond Brazil, Russia, India, China and South Africa.

BRICS aim to counter US with expansion, shared currency

KKR & Co is moving a managing director from India to Singapore to lead the firm's Southeast Asia private equity business, two familiar with the matter sources told Reuters, bolstering its personnel in the region.

KKR India moves Kumar to Singapore to lead Southeast Asia PE — sources

European Union (EU) member states are slowly moving towards an agreement on an 11th sanctions package over Russia’s invasion of Ukraine, as a number of proposals originally put forward by the bloc’s executive arm are set to be watered down.

EU getting ready for new Russia sanctions after proposals weakened

Global air cargo demand, as measured by cargo tonne-kilometres, fell 6.6% in April this year compared with the same month in 2022, according to the International Air Transport Association (IATA).

However, the rate of decline was slower than the previous month's 7.6% drop, it said.

Global air cargo demand down 6.6% in April 2023

Boeing Co’s top executive is growing confident the company can soon restore its commercial standing in China, while cautioning about a rocky path ahead as the two superpowers joust over trade and politics.

Boeing CEO sees 737 MAX gaining in China after four-year hiatus

The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labour market remains tight despite growing fears of a recession amid higher borrowing costs.

US weekly jobless claims rise modestly; layoffs increase in May

Governments need to speed up permitting of new mines to boost their chances to meet a surge in demand for minerals vital to feed the clean energy transition, Teck Resources chief executive Jonathan Price said on Thursday (June 1).

Governments must speed up mine permits to meet transition needs — Teck CEO

Oil jumps 3% on US debt ceiling progress, OPEC+ in focus

Malaysia will not experience water supply crisis during El Nino — SPAN

Iskandar Investment records US$6.8 bil worth of investments since 2006 — Onn Hafiz

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

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