RATE CUT OPTIMISM
European shares advance on rate optimism; UK elections in focus
European shares rose Thursday due to Fed rate cut prospects, weak U.S. data, and Labour gains. FTSE 100 rose by 0.5%, STOXX 600 by 0.3%, led by banks and Continental's 9.6% rise. German industrial orders fell 1.6% in May. Roche fell 2.3% after halting a lung cancer drug trial. Ericsson slipped 1.5% after 11.4 billion crown impairment charge.
S&P 500, Nasdaq post record closing highs as data stokes hope for rate cut
Exciting market dynamics unfold as Paramount Global, National Amusements, and First Foundation make significant moves, shaping investor sentiment and market trends.
S&P 500, Nasdaq post record closing highs as data feeds rate cut hopes
U.S. stocks closed mixed on Wednesday, with the S&P 500 and Nasdaq reaching record highs due to optimism about potential Federal Reserve interest rate cuts in September spurred by signs of a slowing economy. However, the Dow Jones Industrial Average remained relatively flat, weighed down by healthcare and consumer stocks in a shortened trading session ahead of the Fourth of July holiday.
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
Wall Street ends lower as investors digest inflation data, presidential debate
Market dynamics were influenced by strategic acquisitions like Nokia's deal with Infinera, impacting trading volume. Sector performances varied, with energy and real estate sectors showing resilience, while utilities and communications services faced declines.
Amazon hits $2 trillion in valuation on AI fervor, rate cut bets
The stock rose 3.4% to $192.70, giving the e-commerce giant a market value of over $2 trillion and putting it in the same club as technology heavyweights Microsoft Corp, Apple Inc, Nvidia Corp and Alphabet.
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Amazon hits $2 trillion in valuation on AI fervor, rate cut bets
The stock climbed 3.4% to $192.70, pushing the e-commerce giant’s market value past $2 trillion. This elevation places it alongside technology giants like Microsoft Corp, Apple Inc, Nvidia Corp, and Alphabet in the elite $2 trillion club.
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
ETMarkets Smart Talk: Progressive Budget, normal monsoons & strong inflows will further re-rate markets: Amnish Aggarwal
We expect the NDA government to sustain focus on capex-led growth around PLI, Roads, Ports, Aviation, Defence, Railways, and Green energy, given a 20 bps lower fiscal deficit in FY24 (Than RE), normal monsoons, and Rs 2.1 lakh crore dividend from RBI.
How labour party’s election vows stack up for UK markets
Labour party unveils manifesto to control debt, boost homebuilding, and upgrade infrastructure. UK stocks and sterling rally ahead of election.
RBI policy on expected lines, upgrading GDP growth estimate reposes confidence: Bankers
Bankers welcomed the Reserve Bank of India's decision to maintain interest rates, as it was in line with expectations, with an upward revision of the growth estimate. The move, including the unchanged repo rate, was seen as positive for the economy. The revised GDP growth forecast for FY25 instilled confidence in the central bank's outlook. Industry leaders praised the regulatory measures and highlighted the importance of collaboration for financial sector growth.
European stocks at record on tech and ECB bets
The pan-European STOXX 600 benchmark rose by 0.7%, with the technology subindex surging 2.6%, driven by significant gains from Wall Street's tech giants.
Oil rises on strengthening Fed rate cut expectations
Oil prices rose in Asian trading on rising expectations of a Federal Reserve interest rate cut in September and a rebound from a selloff linked to growing U.S. inventories and an OPEC+ supply increase.
10 Best Mobile Phones in India (May 2024) for Optimal Performance and Reliability
Explore the landscape of mobile phones in India, where a plethora of options awaits, ranging from flagship devices boasting cutting-edge features to budget-friendly smartphones offering excellent value for money. Dive into a world of powerful processors, stunning displays, and advanced camera systems with this list of the best mobile phones in India and redefine your smartphone experience. With brands like Apple, Samsung, OnePlus, and Redmi at the forefront, there's something for everyone, whether you are a photography enthusiast, a gaming aficionado, or a productivity powerhouse.
Gold prices back in limelight after mild correction
Gold prices have surged both globally and domestically, nearing the significant psychological level of $2,500 per ounce on the London spot market, representing a year-to-date increase of almost 17%. This momentum is reflected in the Indian market as well, with MCX futures prices exceeding ₹74,000 per ten grams.
US stocks fall after Fed minutes; Nvidia shares climb after the bell
Investors had focused on whether Nvidia's first-quarter results could meet sky-high expectations and whether the outsized rally in artificial intelligence-related stocks could be sustained.
Gold prices climb to record high on US rate-cut optimism
Data last week offered the U.S. Federal Reserve good news on two fronts, but policymakers haven't openly shifted views yet about the timing of rate cuts investors are convinced will start this year.
Australian shares log best day in five months on US rate cut optimism
The much anticipated U.S. consumer price index (CPI) data for April fueled optimism that inflation was easing, prompting traders to raise bets that the Federal Reserve will cut interest rates in September and December.
Gold prices edge higher as US dollar, yields soften
The dollar fell 0.2% against a basket of other major currencies, making gold more attractive for other currency holders. Benchmark 10-year Treasury yields hit their lowest in a more than one month.
Wall Street boasts record closes as inflation data fuels rate-cut bets
Tepid U.S. Consumer Price Index (CPI) data for April fueled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.
Pakistan shares hit fresh record on rate cut hopes, IMF talks
Pakistan's benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.
ETMarkets Smart Talk: PSU, defence, railways & pharma could continue on multibagger run: Sunil Damania
Sunil Damania, CIO of MojoPMS, discusses how sectors like PSUs, defence, railways, and pharma. FMCG sector may excel in FY2025. Damania says: "Despite ongoing geopolitical tensions, the market seems to have adopted a selective deaf ear. The sustained rich valuations stem from optimism surrounding the Indian economy's potential and, consequently, India Inc.'s performance."
Investors 'most bullish' since Nov 2021 - BofA survey
The survey of global fund managers with $562 billion in asset under management found 82% expect the first by the rate cut by the Federal Reserve in the second half, while 78% say a recession is unlikely over the next 12 months.
Cryptocurrency Price on May 10: Bitcoin rises over 2% to $62.9k on renewed global rate cut optimism
Other major crypto tokens such as Solana (7%), Toncoin (12.1%), Dogecoin (3.4%), Shiba Inu (2.6%), Avalanche (3.7%), Chainlink (2%), and NEAR Protocol (4.4%) also surged. The volume of all stablecoins is now $58.67 billion, which is 92.17% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
Asia stocks rally on renewed global rate cut optimism
Sterling was steady at $1.2515, having touched over two-week low of $1.2446 on Thursday after Bank of England (BoE) paved the way for the start of rate cuts as soon as next month.
European shares open higher on earnings-driven optimism
The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month
Wall Street closes higher for third session on rate cut optimism
Expectations for rate cuts by the U.S. central bank have been tempered as the year has progressed, as inflation has proven stickier, and some investors had begun to worry they might not materialize at all, sending markets lower in April.
European shares rise on energy boost, rate-cut hopes
European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
Gold set for fourth weekly gain in five on Fed rate-cut optimism
The U.S. central bank held rates steady on Wednesday, but policymakers indicated they still expected to reduce them by three-quarters of a percentage point by the end of 2024 despite recent high inflation readings.
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