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<ul class="summary-list"><li>US crude production hit a new all-time monthly high in August.</li><li>This complicates things for OPEC+, which was planning to start increasing output in December.</li></ul>The US is pumping a record amount of oil. But that may not be welcome news to other crude-producing nations.Domestic output reached <a target="_blank" href="https://www.eia.gov/petroleum/production/">13.4 million barrels a day in August,</a> eclipsing all previous monthly <a target="_blank" href="https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&amp;s=mcrfpus1&amp;f=m">records</a>. According to US Energy Information Administration data, firms in Texas and New Mexico led the surge.That level of production puts the US at odds with the plans of other oil-producing nations. OPEC+, an alliance led by Saudi Arabia and Russia, has said it plans to begin in December a sequence of monthly output increases. But given the decline in the price of crude oil — down 20% from an April high — continued record production from the US, and weakening demand, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-29/oil-traders-split-on-whether-opec-will-hike-supply-in-december">oil traders believe OPEC+ will delay its program</a> for a second time.It's the culmination of a multi-year period that saw OPEC+ members cut production to support higher market prices, only to be undercut by expanding production from non-OPEC exporters.Looking into 2025, analysts speculate that global demand will continue sliding, especially given <a target="_blank" href="https://www.iea.org/commentaries/china-s-slowdown-is-weighing-on-the-outlook-for-global-oil-demand-growth">China's decelerating oil consumption</a>. That's one reason the global oil surplus could swell to 1.2 million barrels per day next year, according to JPMorgan. Otherwise, expanding outflows from the US, Brazil, Guyana and Canada will also play a part."OPEC+ increasingly appears to be searching for El Dorado: an oil market where demand is strong enough that it can increase output and prices stay above $80 per barrel," wrote Bill Weatherburn, senior climate and commodities economist at Capital Economics. "We suspect that this won't be found in 2025 either as China's demand growth will remain soft and more oil supply from non-OPEC+ producers will enter the market."

The US is pumping more oil than ever, and it's complicating things for other crude-exporting countries

New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

<ul class="summary-list"><li>Oil exports from Russia dropped to their lowest level in seven months.</li><li>Crude oil exports peaked in April and have fallen 620,000 barrels a day since.</li></ul>Russian oil exports have dropped to the lowest levels since December.<a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-23/russia-s-oil-exports-fall-further-to-the-lowest-in-more-than-seven-months">Bloomberg reported on Tuesday</a> that exports from Primorsk and Ust-Luga, two of the country's main ports, are down 41% in the last month and are on track to keep falling. The decline comes as Russia moves to comply with cuts agreed to by the OPEC+ oil cartel. The country plans to cut production further in the coming months to make up for producing beyond its OPEC+ quota, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-16/russia-plans-to-make-opec-compensation-oil-cuts-in-warm-seasons">sources told Bloomberg</a>.The Kremlin has generally complied with OPEC's guidance, and during a series of cuts in March, President Vladimir Putin <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-putin-opec-oil-us-output-cuts-competition-market-share-2024-3">backed the OPEC+'s efforts to maintain oil prices</a> but voiced worries over losing market share to the US.So far this year, Russian crude exports have fallen about 30,000 barrels a day from last year's average, and are down 620,000 barrels a day since peaking in April. The drop in exports of Russian crude oil also comes amid recent sanctions from Ukraine against Russian oil supplier Lukoil, which has diverted some oil flows to European countries like Hungary and Slovakia. Pipes to these countries would need to pass through Ukraine, and exports could rise again as the company diverts flows. Meanwhile, the UK recently sanctioned tankers that move oil from Russia, including some that are part of the country's "shadow fleet." Over 60 tankers that carry Russian crude are now sanctioned.Those sanctions are driving refiners in some countries, like <a target="_blank" href="https://markets.businessinsider.com/news/commodities/india-russian-crude-trade-sovcomflot-shipping-sanctioned-tankers-price-cap-2024-3">those in India</a>, to refuse deliveries of Russian oil.Sanctions on Russian energy are part of a larger effort to crimp the revenue needed to keep funding the war in Ukraine, and have escalated since the conflict began in 2022. Russia contributed to about 12% of global crude oil production in 2023, making it the third biggest crude producer in the world, according to <a target="_blank" class="" href="https://www.statista.com/statistics/236605/share-of-global-crude-oil-production-of-the-top-15-oil-producing-countries/">Statista</a>.

Russian oil exports drop to lowest in 7 months amid OPEC cuts and sanctions

<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<ul class="summary-list"><li>China's exports in May blew past estimates, rising 7.6% year over year in dollar terms.</li><li>It showcases Beijing's growing dependence on foreign buyers to support its growth.</li></ul>Chinese exports jumped above forecasts in May as the second-largest economy leans more and more on foreign markets to boost growth.But as Beijing unloads its products on the world, it's turning up the heat on trade tensions.In dollar terms, exports rose 7.6% year over year, surpassing 6% estimates among economists polled by <a target="_blank" href="https://www.reuters.com/world/china/chinas-may-exports-pick-up-pace-top-forecast-boost-economic-recovery-2024-06-07/">Reuters</a>. According to customs data from Friday, that's the second month of accelerated growth.At the same time, import data was lackluster, and withdrawn Chinese consumption has been a headwind so persistent that China is the sole country undergoing deflation.For an economy increasingly needing alternatives to domestic consumers, Beijing is pinning its hopes for economic growth on foreign buyers. Friday's data suggests that technology products are boosting China's exports, resulting from the country's growing emphasis on advanced manufacturing.That's not a welcome development for international competitors, however. With Chinese tech and green energy goods <a target="_blank" href="https://markets.businessinsider.com/news/stocks/solar-panel-oversupply-price-crash-europe-production-plant-meyer-burger-2024-1?_gl=1*1r1so1q*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxODAyMDc3Mi4zMDYuMS4xNzE4MDIxMDI3LjYwLjAuMA..">sweeping foreign producers away</a>, both the US and European Union have responded with trade barriers.Last month, President Joe Biden announced fresh tariffs against Beijing's advanced products, including quadrupling the duties on Chinese electric vehicles. Last week, <a target="_blank" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-tariffs-southeast-asia-china-imports-producers-prices-2024-6">tariffs resumed on Chinese-made solar panels</a> coming through Southeast Asia after a brief moratorium.As the Republican candidate, Donald Trump has meanwhile pledged even steeper protectionist policies, vowing to apply 60% tariffs on Chinese goods.Analysts have been warning that no matter which US presidential candidate is elected in November, China's dependence on international markets is sure to spark a trade war. This could happen as soon as <a target="_blank" href="https://www.businessinsider.com/china-economy-trade-war-exports-manufacturing-growth-property-crisis-solar-2024-3">next year</a>, China Beige Book CEO Leland Miller said.Although one already took place prior to the pandemic, Beijing's manufacturing output has only grown since — a Capital Economics note said in March that China could no longer lean on smaller countries to absorb its product."China's exporters are probably more reliant now on US consumers than they were when the trade war began during Donald Trump's first term," the group chief economist, Neil Shearing, wrote.

China's explosive export growth could make trade tensions with America even worse 

<ul class="summary-list"><li>The dollar has gained since Trump's election and his policies could boost the greenback further. </li><li>A stronger dollar could suppress global trade and complicate inflation abroad, a think tank researcher said.</li></ul>Donald Trump's proposed policies are likely to give the US dollar a boost during his second term, but a stronger US currency has the potential to unleash chaos in global markets, according to one think tank researcher. Michael Klein, a senior research fellow at Chatham House, an international affairs think tank, wrote this week that the dollar will likely rise under Trump, despite Trump's own suggestion that he would like <a target="_blank" class="" href="https://www.businessinsider.com/us-dollar-trump-presidential-election-weaker-usd-policy-intervention-trillions-2024-7">to see a weaker dollar</a> to slim the US trade deficit.That's unlikely to happen, Klein said, largely because the greenback's other currency rivals remain challenged and because Trump's policies are bullish for the dollar. "President-elect Donald Trump has a dollar problem. In recent months he has shown a clear preference for a weaker exchange rate to support the competitiveness of US exports and help reduce the US trade deficit. And yet, as the market has sensed since the US election, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar— which is expensive already — becomes more obviously overvalued, and this could increase the risk of global financial stability," Klein wrote.Klein said a <a target="_blank" href="https://www.businessinsider.com/strong-us-dollar-exchange-rate-companies-investors-inflation-interest-rates2022-7">stronger dollar</a> could be bad news for other economies around the world. Given how widely the greenback is used across financial markets, global trade could be suppressed if the dollar gains in value.Countries that find their currency devalued against the dollar, meanwhile, could have a harder time taming inflation."If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation," Klein said. "Without much scope for a negotiated decline in the dollar, more chaotic alternatives seem likely."Markets have already picked up on the likelihood of a stronger US currency under Trump's presidency. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a>, which weighs the greenback against a basket of currencies, has climbed around 3% over the last month and briefly surpassed 107 on Thursday, its highest level in a year.Several of Trump's policies are supportive of a stronger US currency. Klein pointed to Trump's plans for steep tariffs, which include a 10% blanket tariff on most US imports and a 60% tariff on Chinese imports.The US imposing tariffs on another country also tends to devalue the other country's currency, Klein added, due to traders selling the currency on foreign exchange markets. Such was the case in 2018, when Trump's trade restrictions on China led the yuan to depreciate 10% against the dollar that year, Fed data shows."More widespread tariffs on a whole range of US trading partners should therefore strengthen the dollar more broadly," Klein added.Economists have also said <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">Trump's tariff plan</a> could stoke higher <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">inflation</a> and higher interest rates, which would prop up the greenback. Trump's other policies, like his plan to <a target="_blank" class="" href="https://www.businessinsider.com/trump-tax-plan-tarriffs-benefits-top-earners-study-2024-10">cut taxes</a>, could also add to price pressures, Klein said."Since boosting the US economy will create inflationary pressure, the market will expect interest rates to end up higher than they might otherwise be. The resulting combination of looser fiscal and tighter monetary policy tends to lead to a stronger currency," Klein said.Trump has pushed back on the idea that his policies could stoke higher prices, and maintained that he will push inflation lower during his presidency. He brought tariffs on some imports from China during his first term without a significant inflation increase, but economists say his tariff plan this time around is more wide-reaching, with a higher likelihood prices rise as a result.

Why a strengthening US dollar could spark instability in global markets in Trump's 2nd term

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19938893" type="General" weightage="20" keywordseo="defence-exports" source="keywords">defence exports</keyword> have surged from Rs 15 billion in 2017 to Rs 210 billion in 2024, registering a CAGR of 46 per cent, highlighted a report on 'Defence Conference 3.0' by Antique Stock Broking. The report stated that the <keyword id="20861069" type="General" weightage="20" keywordseo="global-shift" source="keywords">global shift</keyword> towards a China+1 strategy and the impact of the <keyword id="20016971" type="General" weightage="20" keywordseo="Russia-Ukraine-war" source="keywords">Russia-Ukraine war</keyword> offer India additional opportunities to fill supply chain gaps, potentially boosting its share in the <keyword id="23046732" type="General" weightage="20" keywordseo="global-defence-industry" source="keywords">global defence industry</keyword>. The report noted that the country's long-term goal is to become a global defence manufacturing hub is driven by Defence Public Sector Undertakings (DPSUs), private enterprises, start-ups, and MSMEs. "Indian defence exports have grown multi-fold from INR 15 bn in 2017 to INR 210 bn in 2024 at a CAGR of 46%. The China + 1 strategy and the Russia-Ukraine war provides an additional opportunity for India to fill the gap created in the supply chain and hence increase its contribution to the global defence industry," the report read. The report added that to achieve this target a well-developed domestic ecosystem is crucial as lower import content in products accelerates approvals by reducing international conflicts. The report added that the Ministry of Defence has taken key initiatives to attract Indian private players and global Original Equipment Manufacturers (OEMs) include establishing aerospace parks and defence corridors, fast-tracking project approvals, and enhancing development and testing facilities. Highlighting the potential in India's Maintenance, Repair, and Overhaul (MRO) segment the report explained that it holds a significant potential for global aerospace companies due to its technical expertise and cost-competitive solutions. "India provides a huge opportunity in the <keyword id="23046733" type="General" weightage="20" keywordseo="MRO-segment" source="keywords">MRO segment</keyword> for global aerospace leaders given the expertise the country provides as well as the cost efficiency solutions compared to its global competitors" the report added. India aims to increase domestic defence turnover to Rs 3 lac crore by 2029, Rs 500 billion targeted for exports. This growth will help reduce the Government of India's import bill as India remains the world's largest importer of defence equipment. Under the Atmanirbhar Bharat initiative of the government, 75 per cent of the defence capital outlay is now reserved for domestic players, up from 49 per cent in FY21. Given the geopolitical challenges and modernisation needs of its Armed Forces, the report added that India plans to invest Rs 8.3 lac crore in domestic procurement, offering substantial business opportunities for local companies. "India intends to place orders worth INR 8.3 trn through domestic procurement and thus it presents a massive business opportunity for local players" it added. As per the Ministry of Defence, India's defence manufacturing sector has witnessed an increase of 16.8 per cent in the fiscal year 2023-24. This significant increase marks the highest-ever growth in the country's defence production value. The total value of defence production reached Rs 1,26,887 crore this year, up from the previous year's figures.

India's defence exports surge to Rs 210 billion after global shift towards China+1, Russia-Ukraine war: Report

The <keyword id="21233022" type="General" weightage="20" keywordseo="Indian-textile-industry" source="keywords">Indian textile industry</keyword> is set to experience developments in 2024, driven by improving demand in <keyword id="21017131" type="General" weightage="20" keywordseo="export-markets" source="keywords">export markets</keyword>, resilient consumer spending in key sectors, and favourable geopolitical conditions, according to the B&amp;K Securities report. In the ready-made garments (RMG) sector, the demand offtake in export markets is anticipated to show substantial improvement in 2024. While domestic demand is expected to remain moderate due to lower discretionary spending and overstocking from the previous fiscal year, the recovery in export demand is promising. The domestic market could see a boost in the second half of FY25, supported by an increase in wedding days and festive season, although the rise in realisations is likely to be marginal. The export growth in RMG is expected to be driven by a combination of factors including restocking by Western retailers, increased demand for spring-summer collections, and a general uptick in retail sales. The anticipated interest rate cuts in the US will further stimulate demand. India's RMG exports will also benefit from stable cotton prices and uninterrupted supply, enhancing cost competitiveness on the global stage. The ongoing crisis in Bangladesh, a major player in the global RMG market, presents a temporary tailwind for Indian exporters. However, the benefits for India are expected to be short-lived due to differences in product portfolios and Bangladesh's trade agreements with the European Union. Over the medium to long term, India could see more substantial gains as global buyers continue to diversify their <keyword id="19959553" type="General" weightage="20" keywordseo="supply-chains" source="keywords">supply chains</keyword> away from China and Bangladesh, particularly as Bangladesh faces challenges such as rising wages and the loss of its Least Developed Country (LDC) status by 2029. The <keyword id="21356289" type="General" weightage="20" keywordseo="home-textiles" source="keywords">home textiles</keyword> segment is poised to continue its growth trajectory, primarily driven by robust consumer spending in the United States, which accounts for approximately 60 per cent of India's home <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword>. The market share of Indian players in the US has been steadily increasing, supported by the China+1 strategy adopted by big box retailers to diversify their supply chains. India's competitive advantage in raw material costs and increased domestic capacity will likely sustain its dominance in the US home textiles market. The Free Trade Agreement (FTA) negotiations with the UK and the European Union offer additional opportunities for growth, potentially leading to higher margins and increased market share for Indian players. While the industry is on a positive trajectory, it faces near-term challenges such as logistical disruptions due to the Red Sea crisis and uncompetitive domestic cotton prices. Moreover, as sustainability becomes a major theme in <keyword id="21977676" type="General" weightage="20" keywordseo="western-markets" source="keywords">Western markets</keyword>, <keyword id="804823" type="General" weightage="20" keywordseo="Indian-textile" source="Orion">Indian textile</keyword> companies will need to invest in compliance with these evolving norms to remain competitive. (ANI)

Indian textile exports to remain strong amid global shifts; FTA negotiations with EU to offer growth opportunities

<ul class="summary-list"><li>The S&amp;P 500 could see more than 20% earnings growth over the next two years, according to Goldman Sachs.</li><li>The bank highlighted Trump's proposed tax cuts for corporations as an upside risk to their EPS forecast.</li></ul>President-elect Donald Trump's tax cuts could boost S&amp;P 500 earnings by more than 20%, Goldman Sachs said.Strategists at the investment bank predicted S&amp;P 500 earnings per share were on track to rise around 20% over the next two years. Goldman's forecast for full-year 2024 S&amp;P 500 EPS is $241. That will be followed by an 11% EPS increase in 2025, and 7% EPS increase the following year to $288 a share, Goldman said.Yet, those targets could easily be surpassed if Trump <a target="_blank" class="" href="https://www.businessinsider.com/tax-cut-tariff-plan-outlook-presidential-election-scenarios-harris-trump-2024-10?utm_source=facebook&amp;utm_medium=social&amp;utm_campaign=business-sf">slashes taxes</a> for corporations, the investment bank said in a note on Friday, noting that the latest election results had increased the upside potential to their forecast. "Tax reform is an upside risk. President-elect Trump has campaigned on cutting the statutory domestic corporate tax rate to 15% from its current 21%. We estimate that each 1 percentage point reduction in the statutory domestic tax rate would boost S&amp;P 500 EPS by slightly less than 1%, all else equal" the firm wrote. Trump's move to loosen regulation in the financial sector could also bring additional earnings. Stocks <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">rallied sharply</a> after Trump secured his second term in office on Wednesday. Traders poured $20 billion into US stocks the day Trump's election victory was confirmed, marking the largest single-day stock-purchasing boom in five months, Bank of America said. Weekly flows to financial funds, meanwhile, hit $2.9 billion, the largest single-day inflow on record.Trump's plans to levy <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-hit-company-stock-profits-hardest-china-investing-manufacturing-2024-11">hefty tariffs,</a> though, is a risk to corporate earnings, Goldman Sachs said. Each five percentage point increase in the effective US tariff rate could reduce S&amp;P 500 EPS growth by as much as 2%. the strategists estimated. The firm pegged the odds that Trump would follow through with his 10%-20% blanket tariff on US imports at 40%."During the 2018-2019 trade conflict, companies were generally able to pass the costs of tariffs through to customers," strategists wrote, referring to <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-china-trade-war-chinese-goods-2018-8">Trump's trade war</a> with China in his first term. "However, even if that dynamic were repeated, tariffs could potentially reduce earnings via weaker consumer spending, retaliatory tariffs on US exports, and increased uncertainty."Economists have flagged Trump's economic plan as <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">inflationary</a> and said his policies, including his tariff plan, are likely to send <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">interest rates higher</a>.Over the long term, Goldman is calling for a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-future-returns-decade-forecast-goldman-sachs-2024-10">decade of lackluster returns for the S&amp;P 500</a>. That's partly due to higher interest rate expectations, strategists said in a note last month, as well as factors like <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-crazy-town-valuation-mania-sp500-barry-bannister-2024-11">stretched valuations</a> and high <a target="_blank" class="" href="https://www.businessinsider.com/sp500-outlook-next-decade-forecast-david-kostin-goldman-stocks-strategist-2024-11">market concentration</a>.

Trump's tax cuts could boost S&P 500 earnings by 20% over the next 2 years, Goldman Sachs says

<ul class="summary-list"><li>Short-sellers betting against renewable energy stocks made $1.3 billion since Trump's win, Bloomberg reported. </li><li>Trump is expected to roll back many of the Biden administration's climate programs.</li></ul>It was a tough week for clean energy stocks after Donald Trump clinched the presidential election, but for the short sellers betting against them, the gains have been impressive. Traders betting against renewables have gains on paper of around $1.3 billion since Trump's win sent stocks in the sector tumbling, according to Bloomberg.Among the most-shorted renewable names are shares of Plug Power, SolarEdge Technologies, and Enphase Energy, which have each seen declines of over 24% since market close on Tuesday. First Solar and Bloom Energy have also been popular targets for short-sellers, and have lost around 11% and 3% since Tuesday.The renewables selloff comes after Trump won the US presidential election earlier this week.Trump, who frequently used the slogan "drill, baby, drill" while on the campaign trail, is expected to roll back many of the Biden administration's clean energy initiatives. In particular, Trump has long been critical of the Inflation Reduction Act's billions of dollars toward solar and wind subsidies.Trump could also slash subsidies for electric vehicles and manufacturing EV batteries in the US, which has led EV makers' stocks to tumble (<a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11">excluding Tesla</a>, which is headed by key Trump ally Elon Musk and is expected to benefit from the former president's return to the White House).Trump is also expected to pull out of the Paris Agreement again, which would remove the US from worldwide climate diplomacy talks with Europe and China.Trump has also promised to make it easier to develop energy infrastructure. In the spring, he asked top oil executives for a <a target="_blank" href="https://www.businessinsider.com/trump-asked-oil-execs-for-1bn-2024?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=campaign_BI%20Sustainability,%20November%207,%202024">$1 billion contribution</a> to his campaign in exchange for dismantling Biden's environmental policies, handing out more drilling leases, and expediting permits for new liquefied natural gas exports, according to a report from the Washington Post.

You Searched For "exports" and got 10 results

The US is pumping more oil than ever, and it's complicating things for other crude-exporting countries

Filip De Mott

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

ANI

Russian oil exports drop to lowest in 7 months amid OPEC cuts and sanctions

Kelly Cloonan

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

ANI

China's explosive export growth could make trade tensions with America even worse

Filip De Mott

Why a strengthening US dollar could spark instability in global markets in Trump's 2nd term

Jennifer Sor

India's defence exports surge to Rs 210 billion after global shift towards China+1, Russia-Ukraine war: Report

ANI

Indian textile exports to remain strong amid global shifts; FTA negotiations with EU to offer growth opportunities

ANI

Trump's tax cuts could boost S&P 500 earnings by 20% over the next 2 years, Goldman Sachs says

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Traders betting against clean energy stocks have made $1.3 billion since Trump's election win

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