Wall Street indexes slip with interest rates, Middle East in focus
Wall Street’s three major indexes closed down around 1% on Monday while Treasury yields rose, as traders tamped down bets for Federal Reserve interest-rate easing and worried about the Middle East conflict’s impact on oil prices. While waiting for quarterly earnings season and fresh economic data, investors also braced for another big hurricane, Milton, which…
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Jobs-day shocker vindicates great risk rally of 2024
The ever-resilient US economy is once again causing havoc for Wall Street worrywarts, who have sounded the recession alarm all year. After months of heated debate between stock and bond bulls on whether restrictive Federal Reserve policy would spur a downturn, a report showing the biggest gain in American hiring in six months spurred violent…
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Ola Electric shares surge 6% after Goldman, BofA initiate coverage, see up to 48% upside
Shares of Ola Electric Mobility surged 6% to a dayβs high of Rs 114.30 on BSE today after global brokerage firms Goldman Sachs and Bank of America (BofA) initiated coverage on the stock with target prices of Rs 160 and Rs 145, respectively. Goldman Sachs’ target price signals an upside potential of 48% from the…
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Prospect of steeper Fed cuts boosts stocks, drives record gold prices
U.S. stocks advanced on Friday and gold continued to hit record highs as investors looked to whether the Federal Reserve might move more aggressively to cut rates at its policy meeting next week. Futures tied to the Fed’s policy rate now reflect about a 47% chance the Fed will cut its policy rate by half…
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Fed factor: Rate cut theory suggests higher equity valuations, but history tells a different story
The Nifty Index experienced negative returns twice and remained nearly flat on one occasion following the last three Federal Reserve rate cut cycles. This suggests a contrarian trend in the index compared to the conventional theory that predicts a boost in equity valuations from lower interest rates. Following the 2001 rate cuts, the Nifty fell…
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Asian equities advance as Yen steadies after drop: Markets wrap
Asian stocks advanced Tuesday, led by Japanese equities, while the yen steadied after weakening against the dollar over the past week. Japanese stocks rose alongside Hong Kong equity futures, while shares in Sydney were little changed. US contracts edged lower ahead of Wall Street reopening later Tuesday, following the Labor Day public holiday. The yen…
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Japan’s Nikkei hits 1-month high on Wall Street gains, weaker yen
Japan’s Nikkei share average rose on Monday to touch the 39,000 level for the first time since late July, helped by a softer yen and Wall Street’s gains at the end of last week. The Nikkei had risen 0.2% to 38,709.88 by the midday break. It hit its highest since July 31 at 39,080.64 earlier…
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Nvidia’s rally takes a break after forecasts fall short of investor expectations
Nvidia shares dropped more than 6% on Thursday after its forecast fell short of lofty expectations, though some believe the modest sell-off showed investors still remain confident in the generative AI boom that has powered the chip giant’s stock higher all year. The company on Wednesday forecast third-quarter gross margins that could miss market estimates…
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Ahead of Market: 10 things that will decide stock action on Monday
Indian benchmark equity indices Nifty and Sensex ended flat in a highly volatile session on Friday, while global markets advanced after Federal Reserve Chair Jerome Powell stated that “the time has come” to reduce interest rates. Speaking at the economic symposium at Jackson Hole, U.S., Powell explicitly endorsed an imminent policy easing, noting that further…
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Dow jumps over 400 points as Fed’s Powell hints at rate cut
Stock markets jumped on Friday after US Federal Reserve chief Jerome Powell made clear that the central bank was ready to cut interest rates as inflation is cooling. The Dow was up 476 points or 1.17 percent following the speech while the broad-based S&P 500 gained more than one percent and the Nasdaq bounced by…
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