US-India trade

Elon Musk is merging SpaceX with xAI to create orbital data centers, a move poised for a massive IPO. Palantir’s stock surged on strong earnings, with its CEO highlighting tech dominance. The US and India forged a trade pact, potentially shifting global energy markets, while China’s consumer gloom is symbolized by a viral “crying horse” plushie. US store closures may hit a three-year low.

The U.S. and India have agreed to a trade deal, with the U.S. lowering tariffs on India and India agreeing to increase “BUY AMERICAN” purchases and cease Russian oil imports. Despite mixed economic signals, including a dip in Disney’s stock due to softer international tourism and Nvidia’s planned investment in OpenAI stalling, major U.S. stock indices rallied. The Reserve Bank of Australia is expected to raise interest rates due to inflation and a strong labor market. Key developments include SpaceX acquiring xAI, Oracle securing financing, Bitcoin’s volatility, and growing momentum in the robotics sector. Meanwhile, China faces deflationary pressures and economic slowdown, impacting consumer sentiment.