In a relief for Indian investors and markets, Wall Street was trading higher after US inflation rose less than expected, while consumer spending grew at its fastest pace in more than a year. However, the US merchandise-trade deficit widened to $132.6 billion in August. Coming to India, the fiscal deficit reached 41.9% of the FY27 Budget target during April-August, while the southwest monsoon ended with rainfall about 13% below the long-period average, posing further challenges for the Indian economy and agricultural production.
