The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries.

The Commerce Department reported Thursday that the gap the between the goods and services the U.S. sells other countries and what it buys from them narrowed to just over $901 billion from $904 billion in 2024.

Average US long-term mortgage rate dips

The average long-term U.S. mortgage rate slipped this week to its lowest level in more than three years, but remains around 6% in the same narrow range it has been in this year.

Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate fell to 6.01% from 6.09% last week.

Walmart delivers another impressive quarter

Walmart delivered another impressive quarter as the promise of lower prices and speedy deliveries attracted a broader spectrum of Americans from cash-strapped to wealthier households during the critical holiday shopping period.

The subdued outlook, offered Thursday, from the Bentonville, Arkansas, company, however, hinted at a volatile economic environment ahead. Subdued consumer sentiment, a fragile job market and student loan delinquencies are among the issues that Walmart is monitoring.

Civil rights agency sues Coca-Cola distributor

The U.S. federal agency that enforces workplace civil rights is suing a regional Coca-Cola bottler for sex discrimination, alleging the company discriminated against male employees by only inviting women to a company-sponsored Women’s Forum networking event.

The U.S. Equal Employment Opportunity Commission filed the lawsuit on behalf of a male employee of Coca-Cola Beverages Northeast who complained about a two-day networking trip for about 250 women in September 2024 at the Mohegan Sun Casino resort in Connecticut.

Modi pitches India as global AI hub at summit

Prime Minister Narendra Modi has pitched India as a major hub for artificial intelligence, built at home and used worldwide.

On Thursday, Modi told an AI summit in New Delhi that India wants to “design and develop in India” and deliver to humanity. The summit was also addressed by world leaders and tech CEOs, including French President Emmanuel Macron, Google’s Sundar Pichai and U.N. Secretary-General Antonio Guterres. Guterres called for a $3 billion global AI fund to help poorer countries build skills, data access and computing.

Indonesian leader signs trade deal with Trump

Indonesian leader Prabowo Subianto has signed a reciprocal trade agreement with U.S. President Donald Trump. It happened Thursday while Prabowo was in Washington to attend the first meeting of the Trump-led Board of Peace.

The countries already had reached a framework trade deal that would drop most Indonesian tariffs on U.S. goods and have the U.S. set a 19% tariff on Indonesian exports.

US stocks slip as AI fears keep rumbling

U.S. stocks fell, while oil prices climbed.

The S&P 500 slipped 0.3% Thursday for its first loss in four days. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite lost 0.3%. The company behind Booking.com and Priceline sank to one of the market’s sharper losses as worries continue about whether AI competitors could steal away its customers.