The week in the United States was marked by mixed macroeconomic data, high market volatility, and significant developments on the political and geopolitical fronts. In terms of employment, the economy generated 130,000 jobs in January, twice the expected number, and the unemployment rate fell to 4.3%. However, the annual revision subtracted 862,000 jobs from 2025, leaving a monthly average of just 15,000, which raised doubts about the real strength of the labor market after m

This week was marked by a series of significant economic indicators, sharp movements in financial markets, and political decisions that once again affected short- and medium-term expectations. On the macroeconomic front, the most striking data was the sharp drop in job vacancies. In December 2025, job openings fell by 386,000 to 6.54 million, the lowest level since September 2020 and well below market expectations. The weakness was widespread, with sharp declines in professio

The week in the United States left a complex picture, with mixed economic signals, significant reactions in financial markets, and a political backdrop that once again took center stage. On the macroeconomic front, the most encouraging data came from the regional manufacturing sector: the Chicago PMI index surprised by jumping into expansionary territory in January for the first time in almost two years, suggesting an incipient improvement in industrial activity after a prolo

During the week, US economic data confirmed solid performance, albeit with signs of moderation towards 2026. The highlight was the upward revision of third-quarter GDP, which reached an annualized growth rate of 4.4%, the strongest since 2023 and higher than the initial estimate. This progress was supported by robust private consumption, higher exports, and increased public spending, while the negative effect of inventories was less than expected. At the same time, inflation

During the week, the United States combined trade policy announcements with a barrage of relevant economic data. On the political-trade front, the White House described the imposition of 25% tariffs on certain advanced semiconductors for national security reasons as "phase one," leaving the door open for further measures. At the same time, Donald Trump's administration applied a similar tax to some artificial intelligence chips, including products from Nvidia and AMD. Washing

The main political event of the week was the capture of Venezuelan President Nicolás Maduro by US military forces, following an operation carried out on January 3 on Venezuelan territory. The operation included armed actions in Caracas and resulted in Maduro being transferred to New York to face criminal charges. Following the event, the Supreme Court appointed Delcy Rodríguez as interim president, amid strong internal divisions, protests, and regional and international diplo

During the last week of the year, US economic indicators showed mixed signals, with a gradual slowdown in manufacturing activity and greater clarity on the direction of monetary policy. The manufacturing PMI publishedbyS&PGlobalwas confirmed at 51.8 points in December, down from November's figure, marking weaker expansion within the current growth cycle. In line with this moderation, the Chicago PMI surprised on the upside, rising to 43.5 points, although it remained in contr

During the week, economic news in the United States was dominated by strong growth performance and mixed signals in other indicators. GDP grew at an annualized rate of 4.3% in the third quarter, the highest in two years, far exceeding expectations of 3.3%, driven by resilient consumption, strong investment in data centers, and a lower trade deficit. However, a slowdown to 1.8% is expected in the fourth quarter, partly due to the federal government shutdown. In activity data,

The week in the United States was marked by a series of economic data that showed mixed signals about the pulse of the economy. The University of Michigan Consumer Sentiment Index was revised downward in December to 52.9 points, reflecting a deterioration in both perceptions of current conditions and expectations. At the same time, one-year inflation expectations were adjusted slightly upward to 4.2%, although they remain close to the lowest levels of the last year, while the

The week in the United States left a mixed economic outlook, but consistent with a gradual slowdown and no signs of stress. The most relevant data was the sharp reduction in the trade deficit, which fell to $52.8 billion, its lowest level since 2020, driven by a rebound in exports and a moderate increase in imports. At the same time, fiscal accounts showed a significant improvement: the budget deficit in November fell by $16 billion compared to the previous year, and in the f

The week in the United States brought a slew of economic data confirming moderate expansion. The ISM manufacturing PMI fell to 48.2, deepening its contraction due to weakness in new orders and employment, while the ISM services index rose to 52.6, showing that tertiary activity continues to be the main driver of growth. The labor market once again showed a mixed picture: the ADP report recorded a reduction of 32,000 private jobs in November, driven by a drop of 120,000 jobs i

This was a short week in the United States due to the Thanksgiving holiday, but it still left several relevant signals in economic, market, and political matters. Macro data continued to show moderate activity and slowing inflation. Retail sales rose only 0.2% in September, while pending home sales fell 0.4% year-on-year in October, reflecting consumers and the real estate market still under pressure from high interest rates. In industry, orders for durable goods rose 0.5% an

The week brought economic, market, and political developments that point to moderate growth and greater uncertainty. On the economic front, the FOMC minutes revealed a divided committee: although most members see room for future rate cuts, several are hesitant about cutting in December due to persistent inflation. This caution is compounded by signs of a cooling labor market: in September, 119,000 jobs were created, more than double the expected number, but unemployment rose

The United States experienced a week marked by a combination of economic, market, and political events, presenting a complex landscape for investors. On the economic front, the end of the historic 43-day government shutdown brought relief, but also highlighted the impact on official statistics: although October's non-farm payrolls will be released next week, authorities have warned that it will not be possible to calculate the unemployment rate due to the lack of data collect

According to BlackRock's Global Outlook Q4 2025 Update , the investor's mantra should still be pro-risk, albeit with precision and purpose. Markets are adjusting to a new environment characterized by higher long-term interest rates and trade dynamics induced by technological change through the rising influence of artificial intelligence. In this context, opportunities are still available, but selectivity is becoming more acute. At Ballestas Group, this forecast reinforces wha

The week left a mixed picture for the United States, with conflicting signals in the economy, a positive tone in corporate markets, and significant developments in politics and trade. On the economic front, concerns grew in the labor market after it was revealed that corporate layoffs reached their highest level in 22 years in October, with more than 153,000 job cuts linked to post-pandemic adjustments and increasing automation associated with advances in artificial intellige

The United States experienced a week full of economic, political, and market developments, with particular attention focused on trade relations with China, the Federal Reserve's monetary policy, the progress of the corporate earnings season, and the prolonged government shutdown. On the geopolitical front, the meeting between Donald Trump and Xi Jinping at the APEC summit in Busan concluded with a one-year extension of the trade truce between the two countries. The agreement

The week in the United States was marked by an intense economic, trade, and political agenda with global impact. On the diplomatic front, Washington and Canberra signed an $8.5 billion strategic agreement focused on the supply of critical minerals, especially rare earths, to reduce dependence on China in the technology and defense sectors. In addition, the White House confirmed that President Trump will meet with his Chinese counterpart Xi Jinping during the upcoming APEC sum

During the week, US markets were influenced by rising geopolitical tensions, fiscal uncertainty, and the initial progress of the corporate earnings season. However, the week closed with the main S&P and Nasdaq stock indices rising by 1.71% and 2.41%. President Donald Trump toughened his rhetoric toward China, warning of a possible "trade war" and threatening to impose 100% tariffs on Chinese exports starting November 1. However, in a subsequent interview, he described these t

McKinsey has released its Global Energy Perspective 2025 , and the central message is unmistakable: the world is not on track for 1. 5°C. Even under the most optimistic scenario, global warming is projected to reach 1.9°C by 2100 , meaning that current decarbonization commitments are not sufficient. The report stands as one of the most influential global energy forecasts—alongside the IEA’s World Energy Outlook  and BP’s Energy Outlook —providing a comprehensive view of deman