NEW YORK FEDS OPEN MARKET TRADING
F&O Talk: Sector rotation at play, while Nifty aiming for new highs, says Madhu Bansal of The Finberg
"On Friday, Nifty closed at an ATH signaling a bullish momentum continuation. It’s difficult to say that the index will consolidate anytime soon as the trading volume exhibits strength. Though the RSI indicator is showcasing an overbought situation at 73 levels, this can be taken as a sign of minor correction before continuing the bull move"
Some way to go before reaching US inflation target, says New York Fed’s Williams
Inflation in the US has decreased from its pandemic-era highs, but more efforts are necessary to bring consumer prices down to the desired level, said John Williams, president and CEO of the Federal Reserve Bank of New York. Speaking on Friday at the Reserve Bank of India, Williams addressed global market speculations about when interest rates might be lowered in the world's largest economy.
US Fed hopeful of achieving 2 per cent inflation target soon
The U.S. Federal Reserve noted a lack of significant progress towards its 2 percent inflation target in its latest meeting. Despite this, there have been modest improvements in recent months. This conclusion was shared in the Fed policy minutes released on Wednesday.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
US Independence Day 2024: Will stock markets stay open on Fourth of July?
Fourth of July celebrations are just on the brink, and people in the US are in a rather jovial mood due to all the festive plans and events around this occasion of US Independence Day 2024. However, this day being a federal holiday, will see some major operations staying closed.
F&O Ban: India Cements, Indus Towers among 5 stocks under trade ban on Thursday
The Future & Options contracts of any stock enter a ban period when its open interest (OI) exceeds 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL
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Gold Price Today: Yellow metal trades flat; silver down by Rs 2,400
MCX gold August futures fell by Rs 151 in June while silver MCX July futures dropped by Rs 6,390. Prices showed high volatility due to U.S. housing data and dollar index strength.
Currency traders readying for a ‘Vol Killer’ summer after Fed
Investors may be disappointed as currency volatility is expected to remain low despite initial signs of turbulence. The market reacted to weak inflation data and Powell's rate cut projection, causing the FX Volatility Index to fall. Traders now anticipate narrow currency ranges over the summer.
GIFT Nifty drops 50 points; here's the trading setup for today's session
Domestic markets ended flat post-election recovery. Investors await US CPI data and Fed policy outcome for market direction.
FOMC, FII action among 10 factors to dictate D-Street mood this week
The Nifty index closed the week with a 3.6% increase amidst two significant occurrences: the highly anticipated election results and the monetary policy decision by the Reserve Bank of India (RBI). As trading resumes on Monday, a range of significant domestic and international events scheduled throughout the holiday-shortened week are expected to influence market movements.
Cryptocurrency prices on June 5: Bitcoin rises 3% to above $71,000 on Fed rate cut expectation
Bitcoin price surged by 3% to $71,000 in the last 24 hours, driven by expectations of a Federal Reserve rate cut in September following soft U.S. job openings data. Ethereum reached $3,807 and altcoins like BNB and Solana also saw significant increases.
NYSE glitch sparks volatility in dozens of stocks
A glitch at the NYSE caused major swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts in multiple companies. The issue was resolved, with impacted stocks resuming trading after a technical problem was fixed.
NYSE glitch sparks volatility in dozens of stocks
At least 60 stocks listed on the NYSE were halted due to volatility and some stocks showed unusual outsized movements.
Google's AI search leaves publishers scrambling
The New York Times article discusses concerns from publishing executives like Frank Pine regarding Google's AI-generated summaries, emphasizing the impact on traffic and the need for direct reader relationships to reduce reliance on search engines.
Dow has best daily gain for year; indexes up sharply for May
The Dow and S&P 500 closed higher on Friday with the Dow notching its biggest daily percentage gain since November 2023. The Nasdaq ended slightly lower. The New York jury convicted former President Donald Trump of falsifying documents to cover up a hush money payment to a porn star.
Dollar firms against peers ahead of inflation test
The dollar steadied against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for the Federal Reserve to cut interest rates this year, while investors braced for a key inflation report.
Fed officials see inflation falling, signal no rush to cut rates
Federal Reserve's John Williams believes monetary policy is restrictive, aiming to bring inflation down to the 2% target.
Dollar regroups before inflation test; yen brushes off Tokyo CPI
Market expectations of rate cuts increased to 55% for September. Traders awaited the release of the PCE price index for insights on interest rate cuts. Dollar weakened due to softer inflation data.
Fed's Williams says he doesn't feel urgency to cut rates right now
Williams stated that the economy's behavior over the past year provides ample evidence that monetary policy is restrictive in a way that helps achieve their goals. He made these remarks in the text of a speech prepared for delivery before a gathering of the Economic Club of New York.
Memorial Day 2024:Will US stock markets remain open? Know the trading schedule
Memorial Day holds great significance in the United States, as it is a holiday dedicated to honoring and remembering the men and women who have made the ultimate sacrifice while serving in the U.S. military.
Dollar consolidates as Fed urges patience; markets await meeting minutes
Investors have been shoring up rate cut bets after a milder inflation reading last week boosted expectations for U.S. rate cuts this year.
Some AI companies face a new accusation: 'Openwashing'
Proponents of open source AI models say they're more equitable and safer for society, while detractors say they are more likely to be abused for malicious intent. One big hiccup in the debate? There's no agreed-upon definition of what open source AI actually means.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
Asian stocks ease on uncertainty over timing of U.S. rate cuts
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.
Fed remains cautious on cuts even as data improves
"I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now," Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place "in the very near term."
Asian shares hit 15-month high as traders wait for CPI
MSCI's broadest index of Asia-Pacific shares outside Japan climbed slightly and hit its highest since early 2023 in morning trade, as a strong rally in Hong Kong shares extended into a fourth consecutive week.
'Kingdom of the Planet of Apes' records third highest opening of year. Know in detail
Wes Ball's 'Kingdom of the Planet of Apes' has dominated the opening week at the box office after grossing $56.5 million across North America. This was exactly what was needed to give theatres here a push during an uncertain season.
Why higher Fed rates are not totally off the table
Asked whether officials might raise interest rates again, he said he thought they probably would not -- but he also avoided fully ruling out the possibility. And when asked, twice, whether he thought rates were high enough to bring inflation fully under control, he twice tiptoed around the question.
Sebi rejects NSE proposal to extend trading hours as brokers protest
Sebi rejects NSE's proposal to extend trading hours for index derivatives. NSE CEO indicates shelving due to lack of broker feedback.
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