IS ERA OF HIGH INFLATION OVER
Modern markets demand more than historic valuations. A new era emerges
The Nifty trades at a high TTM PE of 23x, nearing historical highs. Mid-caps' 70% premium over large-caps is unprecedented. Despite disappointing recent events, fears of a looming market correction akin to past bubbles persist.
Is there efficacy of expunction in era of live telecast, digital media?
Lok Sabha Speaker Om Birla expunged parts of Rahul Gandhi's speech, sparking debate over the impact in today's digital age. Rule 380 grants the Speaker power to remove defamatory or unparliamentary words. Expunging Gandhi's remarks, including on Hinduism, prevents their inclusion in official records and video recordings. Experts argue official records are crucial, as expunction can lead to criminal proceedings and even jail time for offenders.
From spirits to simplification: Diageo India to slim down Mallya-era overseas subsidiaries for a better high
Diageo first bought a stake in USL in 2012, taking its holding to a majority by the following year. Mallya stepped down from USL in 2016 and left India that year amid loan repayment troubles at Kingfisher Airlines. At the time, USL had nearly two dozen subsidiaries, joint ventures and associate companies, half of them in the UK, where Mallya has currently exiled himself.
'End of an era': Mohammed Shami congratulates Rohit Sharma, Virat Kohli for ending T20I careers on high
Rohit's leadership skills in the tournament, fine rotation of bowlers and Virat's ability to overcome a lean patch and deliver when it mattered the most helped Men in Blue in in ending their 11-year-long ICC trophy drought. Both also announced their retirement from the short format after winning the trophy.
Gold hits over 2-week low as higher US dollar, yields dent appeal
Gold prices slipped 1% to their lowest level in more than two weeks, weighed down by a stronger dollar and higher bond yields, while traders looked forward to U.S. inflation data due later this week.
The Acolyte Episode 5: Release date, time and what to expect in the upcoming episode
The Acolyte transports viewers to a time before the Skywalker Saga, delving into the lore of the High Republic era. Led by showrunner Leslye Headland, a passionate Star Wars enthusiast, the series explores historically rich narratives.
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India central bank policymakers divided over rate-growth debate
Internal members maintain hawkish stance on inflation, with Governor Das cautioning against hasty actions for fear of worsening the situation
Dow closes at a one-month high as investors broaden portfolios
The Dow reached a one-month high, but the Nasdaq fell over 1% as investors shifted from AI-linked stocks. Federal Reserve rate cuts were anticipated, impacting market movements.
Scientists discover river system that flowed 40 million years under ice in Antarctica
Geologists have discovered an old river that formerly flowed through Antarctica but is now buried below kilometers of ice.
Fed's policy patience warranted amid still-high inflation, Collins says
"The appropriate approach to monetary policy continues to require patience, providing time for a methodical and holistic assessment of the evolving constellation of available data," Collins said.
Wall Street Week Ahead: Retail stocks search for direction as rates stay high
Elevated U.S. interest rates are impacting the U.S. retail sector, with some stocks soaring while others struggle. The S&P 500 Consumer Discretionary index is up 14%, driven by select stocks, like , which is up 21%. However, lower-income focused companies, like Dollar Tree and Dollar General, have faced declines.
Nasdaq manages 5th straight record high close; S&P 500 ends barely lower
The Dow Jones Industrial Average fell 57.94 points, or 0.15%, to 38,589.16. The S&P 500 lost 2.14 points, or 0.04%, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12%, at 17,688.88.
Wholesale inflation surges to 15-month high of 2.61% in May
Manufactured products, which account for nearly two-thirds of weight in the Wholesale Price Index (WPI), returned to inflation for the first time since February 2023 with a 0.78% rise last month.
D-Street indices touch new highs, but US Fed’s rate hints cap gains
Equity indices closed at fresh new highs on Thursday. The NSE Nifty advanced 0.33% to close at 23,398.9 after the US Federal Reserve indicated the likelihood of one interest rate cut in 2024.
Nasdaq hits fresh record high on soft producer inflation data, chip strength
Nasdaq-listed Broadcom surged 14.3% to a record high after the chipmaker raised its revenue forecast for semiconductors used in artificial intelligence (AI) technology. Additionally, the company announced a 10-for-1 forward stock split. Meanwhile, AI chip leader Nvidia saw a 3.3% increase, contributing to a 1.5% rise in the Philadelphia SE Semiconductor Index, which reached an all-time peak.
Sensex, Nifty hit fresh lifetime highs on positive global cues after Fed outcome, US inflation print
Sensex and Nifty50 opened at a record high on Thursday following gains, driven by global stocks and a favorable U.S. inflation report.
US stocks hit record highs, dollar pares losses after CPI, Fed decision
S&P 500 and Nasdaq reached record highs as U.S. Treasury yields fluctuated after the Fed's unchanged rates decision.
In Modi's stronghold, voters chose jobs over new Hindu temple
India's grand Hindu temple opening, aimed at bolstering PM Modi's Hindu-first agenda ahead of elections, backfired as BJP lost key seats due to voter discontent over unemployment and inflation. Despite retaining power, BJP's reduced margin reflects public focus shifting from religious issues to economic concerns. The opposition Samajwadi Party capitalised on these grievances, signaling a potential shift in political priorities away from religious symbolism.
World stocks at record high after cautious ECB rate cut
It was enough to snip the pan-European STOXX 600's gains back to 0.6%, while the euro inched up to almost $1.0890 against the dollar and government bond yields - which reflect borrowing costs and move inversely to price - ticked up too.
'Acche din' to continue for FD investors as high fixed deposit interest rates will not drop soon: All eyes on RBI MPC on June 7
The Reserve Bank of India (RBI) will likely keep the repo rate unchanged in the upcoming monetary policy committee review. The question now is how long will the high-FD rate regime continue. Also, what should be the best strategy for your short-term and long-term fixed deposits? ET Wealth Online spoke to experts and here's all you need to know.
Yield curve inversion narrows, 10-year yields hit four-week high
Yields jumped on Tuesday after consumer confidence unexpectedly improved in May and the Treasury Department saw soft demand for auctions of two-year and five-year notes.
Indian rupee rallies to two-month high on likely dollar inflows
The Indian rupee rose to a two-month peak on Friday, boosted by likely strong dollar inflows into domestic equities even as most Asian currencies declined pressured by a rise U.S. bond yields.
Swiftly Soaring: Taylor Swift's Eras tour sparks surge in European air travel for upcoming summer season
Taylor Swift's Eras tour is significantly impacting travel and the economy, causing a 25% increase in demand for flights to European destinations like Lisbon and Madrid. United Airlines and Delta plan to fly around three million passengers over Memorial Day weekend, a 5% rise from last year. Tourism is expected to surge as American fans flock to cheaper European concerts, with ticket prices exceeding $1,000 due to high demand and strict resale rules. Milan saw a 45% rise in passengers for Swift's July concert debut.
Gold hovers near record high on growing rate-cut bets
Spot gold was up 0.1% at $2,428.14 per ounce, as of 0110 GMT. Bullion hit a record high of 2,449.89 on Monday.
Nasdaq, gold scale all-time highs amid cautious Fed comments
The tech-heavy Nasdaq led the three major U.S. stock indexes with a boost from chips, as Nvidia Corp advanced ahead of its closely watched earnings report, expected on Wednesday.
Silver surges Rs 1,800 to hit all-time high; gold jumps Rs 650
Silver soared by Rs 1,800 to hit a fresh record high of Rs 88,000 per kg on Thursday, while gold prices jumped Rs 650 to Rs 74,050 per 10 grams in line with strong global trends.
US stocks near record highs with inflation prints in focus
Of the 459 S&P 500 companies that reported through Friday, 77.3% beat analysts' profit estimates, according to LSEG data. The long-term average is 66.7%. At 11:24 a.m. the Dow Jones Industrial Average rose 47.17 points, or 0.12%, to 39,560.01, the S&P 500 gained 2.90 points, or 0.06%, to 5,225.58 and the Nasdaq Composite gained 42.66 points, or 0.26%, to 16,383.53.
The Eras Tour 2024: Will Taylor Swift sing the TTPD album tonight? Setlist, tickets resale & more
Taylor Swift recently took a break from her Eras Tour for two months in order to work on and promote her newly launched The Tortured Poets Department album, which has stolen the hearts of her fans globally. Will she sing the TTPD album during her The Eras Tour 2024?
The Eras Tour 2024: Here’s why Taylor Swift’s European concert tickets are cheaper in US
Taylor Swift, renowned for her record-breaking achievements in the music industry, is set to enthrall fans once more with her upcoming Eras Tour. The European leg kicks off on May 9th in Paris, promising unforgettable performances and memorable moments.
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