Results for: Trade deficit

U.S. stocks closed higher on Tuesday, with the Nasdaq Composite gaining around 200 points. The Dow Jones Industrial Average rose slightly, while the S&P 500 also saw a significant increase. Key sectors like information technology performed well, while energy shares experienced a decline. Notable movers in the market included Alternus Clean Energy, Bio-Path Holdings, and Cassava Sciences, which all saw significant share price increases. However, several US-listed Chinese stocks declined after Chinese officials reportedly missed investor stimulus expectations. Commodities like oil and gold traded lower, while European markets closed mostly lower.

US stocks traded mixed on Wednesday, with the Dow Jones gaining slightly while the NASDAQ and S&P 500 slipped. Utilities led the sectors higher, while information technology lagged. The trade deficit widened to its highest level since June 2022, reaching $78.8 billion in July. Meanwhile, European markets declined, and Asian markets closed lower. Several stocks saw significant gains, including Faraday Future, Asset Entities, and WiSA Technologies, while Athira Pharma, Oragenics, and Shuttle Pharmaceuticals experienced significant declines.

India is seeking significant duty cuts on a wide range of exports to South Korea as it reviews its free trade agreement with the country. The Indian government wants tariffs reduced on agricultural products, textiles, pharmaceuticals, electronics, and petrochemicals, while South Korea has requested improved mobility for its professionals. Negotiations are ongoing in Seoul, with India also demanding greater market access for products like steel, rice, and shrimp. This review aims to address the growing trade deficit India faces with South Korea, with Indian exporters facing challenges in penetrating the Korean market due to non-tariff barriers and import quotas.

Data-driven insights from Plain Facts shed light on key developments during the past week. India’s retail inflation remained stable at 4.83% in April, but food prices continue to escalate. HCL Technologies has defied the trend of shrinking headcounts in the software industry, adding 1,537 employees, while other IT giants have experienced significant layoffs. Apple aims to produce 25% of its iPhones in India over the next few years, forging partnerships with Indian vendors. The banking sector has reported strong earnings in Q4, but experts caution against relying on one-time gains. India’s merchandise trade deficit has reached a four-month high of $19.1 billion, driven by rising gold and oil imports, with exports facing challenges due to global trade headwinds.