Market Performance - The Sensex fell 1.37 per cent, or 1,100 points, closing at 78,918, while the Nifty 50 declined 1.27 per cent, or 315 points, settling at 24,450 [4] - Both indices recorded their steepest weekly losses in over a year, dropping nearly 3 per cent, marking the Nifty 50's worst weekly performance since February 2025 and the Sensex's sharpest fall since December 2024 [4][7] - The indices ended at their lowest levels since April last year [4] Investor Activity - Investors' wealth in Indian equity markets declined by nearly Rs 14 trillion during the week, including a Rs 3.2 trillion loss on Friday [5] - Foreign portfolio investors (FPIs) offloaded equities worth Rs 21,831 crore during the week, with around Rs 6,000 crore sold on Friday alone [5][7] - Domestic institutional investors were net buyers in all four trading sessions of the week [5] Oil Price Impact - Brent crude prices breached the $90 per barrel mark for the first time in almost two years, raising global energy concerns amid the ongoing conflict in West Asia [3][7] - The price for a barrel of Brent crude jumped another 6 per cent to $90.60, climbing around 25 per cent during the week, the most since March 2022 [10][13] - Higher oil prices are expected to widen India's trade deficit, fuel inflation, and strain the country's current account and fiscal balances [11][12] Sector Performance - Most sectoral indices ended in the red, with the exception of IT and chemicals, which saw marginal gains [15] - Major banks, including ICICI Bank, HDFC Bank, Axis Bank, and State Bank of India, faced pressure due to concerns that rising crude prices could increase borrowing costs and squeeze margins [15][16] - Shares of oil marketing companies extended losses amid worries that higher crude prices could hurt marketing margins [16]

Market Performance - The benchmark equity indices Sensex and Nifty experienced significant declines, with Sensex dropping 1,758.22 points or 2.19% to 78,480.63 and Nifty falling 530.85 points or 2.13% to 24,334.85, driven by the escalating conflict in West Asia and rising oil prices [2][5] - Asian markets also faced sharp declines, with South Korea's Kospi tumbling over 10%, and other indices like Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng showing significant losses [4] Sector Analysis - Major laggards in the Sensex pack included Larsen & Toubro, Tata Steel, InterGlobe Aviation, UltraTech Cement, Adani Ports, and Mahindra & Mahindra, while Infosys, HCL Tech, and Tata Consultancy Services were among the gainers [3] - Brent crude, the global oil benchmark, increased by 0.87% to $82.11 per barrel, reflecting the impact of geopolitical tensions on oil prices [3][5] Economic Implications - Analysts highlighted that the ongoing war and rising crude oil prices are leading to heightened market uncertainty, with concerns about inflation and its potential impact on economic growth in India, which relies on imports for approximately 85% of its oil needs [7] - The widening trade deficit, depreciating currency, and higher inflation are critical issues for the market, as indicated by the significant equity offloading by Foreign Institutional Investors (FIIs) worth Rs 3,295.64 crore, contrasted with Domestic Institutional Investors (DIIs) purchasing stocks worth Rs 8,593.87 crore [8]

For President Donald Trump, few things appear to matter more than .. Tariffs. Tariffs. Reciprocal tariffs. A lot of tariffs.The most beautiful word in the dictionary is tariff. Now his signature policy has hit a roadblock. Trump's biggest legal defeat since returning to the White House.The Supreme Court striking down President Trump's tariffs. A major blow to President Trump's economic agenda. Two-thirds of the tariffs that President Trump implemented in 2025 have essentially been ruled illegal. That really ...

On Friday, the Supreme Court threw out President Donald Trump's signature emergency-law tariffs, but it did not spell out how the federal government should return the $133 billion already collected from importers. On Saturday, Trump signaled he would try to keep pressure on global trade with a new 15% worldwide rate, a move he framed as new 15% tariff after attacking the ruling.Associated Press reports the justices invalidated Trump's use of the 1977 International Emergency Economic Powers Act, saying the s ...

Core Viewpoint - The Supreme Court ruled that the International Emergency Economic Powers Act of 1977 does not authorize the president to impose tariffs, impacting the legality of tariffs previously imposed by President Trump [1][2]. Group 1: Supreme Court Ruling - The Supreme Court's decision was a 6-3 ruling that questioned the mechanics of how tariffs were imposed under the AIPA [1][6]. - The ruling did not clarify whether companies that paid tariffs would receive refunds, leading to uncertainty among businesses like Costco, which are seeking refunds in lower courts [2][20]. Group 2: Presidential Response - President Trump criticized the ruling, labeling it a disgrace, and announced plans to impose a new 10% global tariff using Section 122 of the Trade Act of 1974, a method that has not been used in this context before [3][4]. - The new tariff is set to last for 150 days, but its legality and potential court challenges remain uncertain [15][16]. Group 3: Tariff Mechanisms - The typical process for imposing tariffs involves a fact-finding study by the Commerce Department or U.S. Trade Representatives, which is time-consuming and involves public review [11][12]. - The administration is expected to continue using this traditional process for sector-specific tariffs, such as those on steel and aluminum, which were not affected by the Supreme Court ruling [22][25]. Group 4: Market Reaction - The market reacted positively to the Supreme Court ruling, as it may reduce the overall tariff burden in the short term, although uncertainty regarding the refund process tempered this reaction [26][27]. - Companies are likely to challenge the ruling in court for refunds, but this process could take months or years to resolve [28].

Core Points - President Trump announced an increase in the worldwide tariff rate from 10% to 15%, effective immediately, as a response to a Supreme Court ruling he criticized [1][2] - The Supreme Court's 6-3 decision stated that the president does not have the authority to impose tariffs under the International Emergency Economic Powers Act, limiting presidential power in this area [3][7] - Public opinion is shifting against Trump's tariff policies, with 60% of Americans supporting the Supreme Court's decision and many linking tariffs to rising consumer prices [8][4] Economic Impact - Trump's tariff strategy has been met with skepticism, as official figures indicated a 95% increase in the trade deficit by November 2025, contradicting claims of improvement [5] - Economists estimate that nearly 90% of the costs associated with tariffs are borne by U.S. companies and consumers rather than foreign exporters [6] - A Pew Research survey found that 53% of U.S. adults believe Trump's policies have negatively impacted the economy, with inflation and tariffs cited as major concerns [4] Political Context - The upcoming midterm elections may influence how candidates address trade and inflation, particularly in light of the Supreme Court ruling and public sentiment regarding consumer costs [9]

And joining us now is Democratic Congressman Brendan Boyle of Pennsylvania He's the ranking member of the Budget Committee. Congressman, great to have you here. Give us your initial reaction to this ruling.Well, I certainly cheer this decision by the Supreme Court. It was correct on the merits. The idea that we have 92 different emergencies simultaneously is, of course, just not believable and not practical.Donald Trump himself was his own witness TARIFTS ON SWITZERLAND. HE SAID HE RAISED TARIFFS ON SWITZER ...

Trade Deficit Overview - The trade deficit surged to $70 billion in December, marking a 33% increase from November [1] - Despite this spike, the overall trend in trade has been positive, with trade deficits generally decreasing over time [2][3] Economic Impact - Net exports have been a significant positive contributor to GDP, which is currently running close to 3% [3] - The trade deficit remains largely unchanged year-over-year, indicating that tariffs have shifted trade rather than significantly altering the deficit [5] Inflation and Economic Projections - Current CPI stands at 2.4%, similar to levels seen in April, suggesting that inflation concerns may have been overstated [8] - The anticipated economic downturn related to trade and inflation has not materialized as expected over the past 10 months [7][9] Future Trade Trends - There are signs of reshoring occurring slowly, contributing positively to trade revenues and improving the budget deficit to GDP ratio, which is now at 5.7% [8] - Projections for the trade deficit suggest limited improvement, with some forecasts indicating a potential increase rather than a decrease [10][11] Treasury Management - The Treasury Secretary has successfully aimed to reduce the budget deficit, and future strategies regarding short-term versus long-term issuance could impact the deficit further [12][13]

Market Overview - Stocks initially moved to the downside but regained some ground during the trading day, with the Nasdaq briefly reaching positive territory. Currently, major averages are posting modest losses: Dow down 194.05 points (0.4%) at 49,468.61, S&P 500 down 17.09 points (0.3%) at 6,864.22, and Nasdaq down 41.09 points (0.2%) at 22,712.54 [1] Company News - Walmart reported fourth quarter results that exceeded analyst estimates but provided weaker than expected earnings guidance for the current year. Despite notable pre-market weakness, Walmart's stock increased by 1.3% during regular trading [2] Economic Indicators - The Labor Department reported that first-time claims for U.S. unemployment benefits fell significantly to 206,000, a decrease of 23,000 from the previous week's revised level of 229,000, which was better than the expected drop to 225,000 [4] - A report from the Commerce Department indicated that the U.S. trade deficit unexpectedly widened in December due to a surge in imports and a slump in exports [5] Sector Performance - Airline stocks experienced a substantial decline, with the NYSE Arca Airline Index dropping by 3.6%. Biotechnology stocks also showed weakness, reflected by a 1.7% loss in the NYSE Arca Biotechnology Index. Conversely, computer hardware stocks performed well, driving the NYSE Arca Computer Hardware Index up by 2.4% [6] - Gold stocks performed strongly, resulting in a 1.9% increase in the NYSE Arca Gold Bugs Index [7] International Markets - In overseas trading, stocks in the Asia-Pacific region mostly moved higher, with Japan's Nikkei 225 Index climbing by 0.6% and South Korea's Kospi surging by 3.1%. However, major European markets moved to the downside, with the German DAX Index down by 0.9%, the U.K.'s FTSE 100 Index down by 0.6%, and the French CAC 40 Index down by 0.5% [8]

Core Insights - Canada's international merchandise trade deficit narrowed to C$1.31 billion ($957 million) in December, down from a revised C$2.59 billion deficit in November, driven by increased exports, particularly in metals and non-metallic minerals [1][2] Trade Performance - Total exports rose by 2.6% to C$65.63 billion, primarily due to an 18% increase in metals and non-metallic mineral products, with unwrought gold exports increasing over 37% [2] - Exports excluding metals and non-metallic minerals decreased by 0.2%, while total exports in volume terms increased by 1.4% [2] Import Dynamics - Imports increased by 0.6% to C$66.93 billion, with six out of eleven product sections showing growth, driven by gold, passenger vehicles, and energy products [3] U.S. Trade Relations - Exports to the United States rose by 1.1%, accounting for just over 67.4% of total exports, a significant drop from 76.2% a year ago [3][4] - This marks the first increase in outbound shipments to the U.S. in three months, although the share of exports to the U.S. reached its lowest level since data collection began, excluding two months during the pandemic [4] Trade with Other Countries - Exports to countries other than the U.S. reached an all-time high in December, with gold exports to the United Kingdom leading the gains [5] - Imports from countries other than the U.S. fell by 3%, narrowing Canada's trade deficit with these countries to $7 billion in December from $9 billion in November [5]