The fragile ceasefire in the Middle East appears to have shaken as both the U.S., Iranian military fired shots in the Strait of Hormuz Monday. Iran claimed that it had hit a US naval vessel, preventing it from entering the Strait, but the US denied there had been any strike. U.S. military said guided-missile destroyers, more than 100 land and sea-based aircraft, multi-domain unmanned platforms,
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.