News Highlights: Top Global Markets News of the Day - Tuesday at 3 PM ET

Federal Deficit Hit $1.8 Trillion for 2024, CBO Says 
 

The data comes as Donald Trump and Kamala Harris are proposing new tax and spending plans that are estimated to add trillions more to the deficit over the next decade.

 
Fed's Bostic Eyes Hurricane Fallout as Economic Risks Remain Balanced 
 

The Atlanta Fed president said storms such as Helene and Milton have significant implications for the economy.

 
GDP may get lift after U.S. trade deficit drops to 5-month low 
 

The U.S. trade deficit sank almost 11% in August because of lower imports of oil and new cars, potentially giving a boost to the official measure of economic growth in the third quarter.

 
Hurricane Milton Might Distort Economic Data. GDP Could Take a Hit. 
 

This storm and its predecessor, Hurricane Helene, could crimp the jobs numbers and economic growth.

 
S&P 500 Gains; 'Magnificent Seven' Tech Stocks Advance 
 

Gains by the technology sector pushed the S&P 500 higher, while each member of the Magnificent Seven group of big tech stocks advanced.

 
China's Stock Market Fever Breaks as Authorities Disappoint 
 

An epic Chinese stock market rally lost steam after comments from the nation's economic planners cast down hopes for more fiscal stimulus measures.

 
Mexico Wants to Curb Chinese Imports With Help From U.S. Companies 
 

The government seeks to strengthen domestic supply chains amid rising trade tension between Washington and Beijing.

 
China Slaps Provisional Tariffs on EU Brandy Imports, Hurting Drinks Stocks 
 

European distiller stocks fell sharply after China said it would impose antidumping tariffs on brandy imported from the European Union, deepening tensions between the two trading powers.

 
Japan's New Economy Minister Shows Tolerance for Further Rate Increases 
 

Ryosei Akazawa, the minister in charge of economic revitalization, showed tolerance for gradual monetary tightening by the Bank of Japan as long as it doesn't ruin the nation's efforts to defeat deflation.

 
Small businesses have never been more uncertain, and it's holding back spending, trade group says 
 

Small businesses have never been more uncertain, and it's impacting their spending plans, a leading trade group said Tuesday.

(END) Dow Jones Newswires

October 08, 2024 15:15 ET (19:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.