Latest news with #TrumpTariffs
India Gazette
a day ago
- Business
- India Gazette
Sensex, Nifty recovered on anticipation of mini trade deal with US: Experts
Mumbai (Maharashtra) [India], July 8 (ANI): The Indian stock markets on Tuesday ended higher, recovering from the flat opening due to the news of a possible mini trade deal between India and the United States late in the night. Stock markets opened under pressure as concerns over US President Donald Trump's fresh tariff measures took center stage. At the end of the trading session, the Sensex was up 270.01 points or 0.32 per cent, at 83,712.51, and the Nifty was up 61.20 points or 0.24 per cent, at 25,522.50. The Financial heavyweights helped Nifty and Nifty Bank close in the green. Kotak Bank remained the top gainer and rose over 3 per cent on a strong first-quarter update. Tital was the top Nifty loser, down 6 per cent after reporting below-estimate jewellery business growth. 'Today marked the third day the Nifty had opened and closed the market within a narrow range of 25,400 to 25,500. This shows the market is waiting for a trigger before the next move at the index level,' said VLA Ambala, Co-Founder of Stock Market Today. 'The market remained in an uptrend position, showing no signs of reversal, but volatility is expected as crude, gold, and dollar prices may fluctuate due to the outcome of Donald Trump's trade deal,' she said. Observing the markets, Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity - Ashika Stock Broking, said despite global uncertainties stemming from U.S. President Donald Trump's announcement of 25-40 per cent tariffs on 14 nations, the Indian equity markets opened flat and traded largely sideways throughout the session 'Trump Tariffs occupied centre stage, on expected lines, on Monday, as letters detailing tariffs were issued to 14 countries. Markets reacted slightly and were not in the panic mode of April 2nd to April 9th. Over the past 90 days, the markets have become more resilient, looking past the Trump policy ambiguity to Trump actions,' Ajay Bagga, Banking and Market Expert, told ANI. He added, 'The big takeaway on Monday was that the July 9th tariff imposition deadline has been moved to August 1st. This gives 23 more days for further negotiations, even to the 14 countries that were sent letters on Monday imposing tariffs.' (ANI)
India Today
2 days ago
- Business
- India Today
BRICS criticises US strikes, Trump responds with trade threats
Trump has called BRICS 'anti-American' after the bloc condemned US strikes on Iran. In response, he has threatened a 10% tariff on countries aligning with the BRICS. With 11 member nations and a population of 4 billion, BRICS holds significant global weight. Watch the video to learn more. #BRICS #Trump #TradeWar #GlobalEconomy #TariffThreat #USForeignPolicy #Geopolitics #IranStrikes #DollarVsBRICS #GlobalSouth #TrumpTariffs
National Post
5 days ago
- Business
- National Post
With deficit projected to soar to $92 billion, 'it is unfair to pass these burdens on,' C.D. Howe Institute says
OTTAWA — The Carney government is poised to post a massive deficit of more than $92 billion during this fiscal year, a new report from a well-respected financial think tank projects, almost double what was forecast just a few months ago by a non-partisan arm of the government. Article content The report, from the C.D. Howe Institute, also forecasts deficits of more than $77 billion a year over the next four years, also huge increases over what had been expected. Article content Article content The think tank attributes much of the government's declining fiscal health to increased spending on defence and other items, the economic effects of the Trump tariffs, cuts to personal income tax and the GST for first-time homebuyers, and the elimination of the digital services tax. Article content Article content Based on the most current and largely optimistic variables, the report says, federal deficits will remain above $71 billion during each of the following three years and in the fiscal year 2028-29 will be greater than three times what the government itself forecast in its most recent federal budget. Article content 'It is widely accepted that Canada's economy is at a critical crossroads,' the C.D. Howe economists write. 'So are Canada's finances – beyond the economic drag of high deficits and rising debt, it is unfair to pass these burdens on to the current young and future generations.' Article content Article content But the most recent federal budget was now well over a year ago. The government took the highly unusual step this year of waiting until the fall to release its annual budget, more than half-way through the fiscal year. Article content The report's authors – William Robson, Don Drummond and Alexandre Laurin – call on Ottawa to improve its accountability by sharing its revenue and spending figures with taxpayers. Article content The gloomy fiscal forecast bolsters the argument that Canadian government spending at the federal, provincial and municipal levels is going from bad to worse. Article content Just four months ago, the Parliamentary Budget Officer projected that the federal deficit would fall to $50.1 billion during this fiscal year, a slight improvement over the $61.9 billion shortfall recorded in 2023-24. The PBO also said at that time that federal deficits would continue to fall in the ensuring years, unless there were new measures to cut revenue or increase spending. Article content The C.D. Howe report criticizes the government's decision to wait until the fiscal year is more than half over before releasing its budget 'Delaying a budget until the fiscal year is more than half over is never good, but Canada's current high-spending trajectory makes this delay especially bad.'
Yahoo
7 days ago
- Business
- Yahoo
Builders FirstSource (BLDR) Jumps 8.7% as Investors Scoop Up 'Undervalued' Stocks
Builders FirstSource, Inc. (NYSE:BLDR) is one of . Builders FirstSource rallied by 8.76 percent on Tuesday to close at $126.91 as investors gobbled up shares amid an analyst comment that the stock is currently undervalued. In a market report on Tuesday, Zacks Research assigned a 'B' grade to Builders FirstSource, Inc. (NYSE:BLDR), in the belief that the stock is currently 'trading at a discount to its peers.' The assessment is a value style score that pays close attention to both traditional and unconventional valuation metrics, with grade A being the highest and grade F being the lowest. In line with the rating, Builders FirstSource, Inc. (NYSE:BLDR) currently bears a Zacks Rank #3 or a 'hold' recommendation on its stock on expectations that it may perform in line with the broader market in the near term. A crane lifting a truss during the construction of a new building. Builders FirstSource, Inc. (NYSE:BLDR) is one of the leading suppliers of structural building products in the US. Its 600 stores are present across 43 states in the US. While we acknowledge the potential of BLDR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
The Guardian
01-07-2025
- Business
- The Guardian
London stock market celebrates best first half to a year since 2021 as dollar slumped
Update: Date: 2025-07-01T06:11:01.000Z Title: US dollar has worst first half in more than 50 years amid Trump tariffs Content: 2025 has been a rough year for the dollar though. It has sled 10.8% in the first six months of the year, its worst first-half performance since 1973 against a basket of rival currencies. Stephen Innes, managing partner at SPI Asset Management, says the dollar is experiencing a 'structural unwind' as Donald Trump alarmed investors with his trade wars, and attacks on the Federal Reserve. Trump's tariff timebombs, fiscal bazookas, and the creeping perception of Fed capture have all coalesced into one ugly truth: the dollar is no longer the safe-haven default, at least not for now. This wasn't supposed to happen. The consensus playbook had the dollar strengthening as Trump's protectionist blitz torched everyone else's economies. But instead of Europe or Asia cracking first, it's the U.S. that's lost the narrative. Growth risks have migrated stateside, and rate-cut expectations have exploded, dragging yields lower and scaring off global capital. Update: Date: 2025-07-01T06:10:11.000Z Title: Introduction: London markets celebrate strong H1 Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. It's a new month, and also the second half of the year. And the London stock market can look back on its strongest first six months of any year since 2021. The FTSE 100 share index has gained 7.2% so far this year, its best January-June performance in four years, and its third-best first half to a year in the last decade. Stocks in London have recovered from their trade war shock in early April, helped by Donald Trump's 90-day pause to new tariffs which ends next week. Britain's trade deal with the US, which kicked in yesterday, has also helped the mood. Danni Hewson, AJ Bell head of financial analysis, says: 'Considering the massive market wobble which followed Donald Trump's 'Liberation Day' speech the fact that the FTSE 100 has turned in its best half-time performance since 2021 is something worth shouting about. 'Big share price falls grabbed headlines at the start of April as many UK investors watched the value of their pensions fall, but despite the geopolitical uncertainty and tariff turmoil London markets have thrived in the second quarter. The FTSE 100 was lifted by strong gains among defence companies; BAE Systems has gained over 60%, while Babcock has more than doubled, as rising geopolitical threats lift their order books. The smaller FTSE 250 index had a strong second quarter to the year, gaining over 11% in April-June, Reuters reports. Other global markets also recovered from their trade war slump, with the US S&P 500 index ending June at a record high. 7am BST: Nationwide's UK house price index for June 8am BST: Bank of England governor Andrew Bailey to give an interview to CNBC 9am BST: Eurozone manufacturing PMI report for June 9.30am BST: UK manfuacturing PMI report for June 10am BST: eurozone inflation estimate for June 2.30pm BST: Andrew Bailey, ECB president Christine Lagarde, Fed chair Jerome Powell, Bank of Japan's Kazuo Ueda and Bank of Korea governor Chang Yong Rhee speak at the ECB Forum on Central Banking in Sintra 3pm BST: JOLTS report on US job creation
