STREET
Dow, S&P 500 hit record as Wall Street rallies on rate cut bets
The Dow has underperformed the S&P 500 and Nasdaq in 2024, rising only 6.4%. Tech and semiconductor stocks have led market gains, while value stocks within the Dow have struggled. Despite a weak start to the earnings season and bank stocks falling, Wall Street indices have still advanced.
Tech That: Far-yet-near is the new diasporic dynamic
In the past, it took just a generation or two for ties with the motherland to loosen or whittle down to the most gossamer-thin threads. There was reason for total assimilation too. But technology has been a game changer. Enhanced connectivity has brought India closer in real time without PIOs having to make frequent trips to keep up ties. Consequently, it has also made it easier for them to preserve and pass on that renewed connect to their often mixed-race GenNext.
Nvidia pulls S&P 500 lower as small caps rally
Tesla's stock dropped 6.5% following news of a two-month delay in its robotaxi launch, as reported by Bloomberg. Apple shares dipped 2.4% after reaching a record high on Wednesday, despite BofA Global Markets increasing its price target due to anticipated strong iPhone sales fueled by new AI features.
Ahead of Market: 10 things that will decide D-Street action on Friday
Nifty closed unchanged on Thursday, but its price action formed an Inside Bar pattern, signaling potential volatility. This pattern, combined with the index finding support at the 10-day exponential moving average (EMA) after two sessions, suggests a short-term upward trend, according to technical analysts.
Inside Goldman Sachs' expanding but risky financing engine
The fund finance unit, housed in the bank's global banking and markets division, lends money secured by different types of assets to private equity and other funds. Such assets, however, can be hard to value and trade, and some loan products are yet to be tested in a downturn, making lending against them risky.
D-Street's cooling earnings momentum set to challenge stock rally
HDFC Bank Ltd. and Bank of Baroda Ltd. posted a sequential drop in credit growth, suggesting that lenders — who have the highest weighting in the index are struggling to keep up the rapid expansion seen in recent years.
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S&P 500 tops 5,600 for first time; Nvidia-fuelled rally lifts Wall St before inflation data
The S&P 500 and the Nasdaq achieved their fifth consecutive intraday record highs, with the benchmark index surpassing the 5,600 mark for the first time. This surge was fueled by increased optimism for an interest-rate cut in September, following Jerome Powell's statement that the U.S. was "no longer an overheated economy."
Ahead of Market: 10 things that will decide D-Street action on Thursday
Indian stock markets hit record highs on Wednesday before reversing course. The Nifty 50 closed at 24,324, down 0.45%, while the Sensex settled at 79,924, down 0.53%. The Nifty formed a bearish engulfing pattern, suggesting potential further downside, but remained above the 24,180 support level.
Hungry for more: Food deals trending on startup street
Coffee, burgers, dosas and other brands scoop up new capital. Venture funds are investing in brands like FirstCoffee, AbCoffee, Café Amudham, Curefoods' Eatfit, Cakezone, aided by Sujeet Kumar, Binny Bansal. Curefoods seeks Rs 100 crore expansion.
Nasdaq, S&P 500 power on as Nvidia surge lifts tech stocks
Monday marked the 35th instance of the S&P 500 setting a fresh closing record this year, as sharp gains in AI-linked and other tech shares kept equity sentiment bright, offsetting the uncertainty around the Fed's rate-cut path. However, the Dow Jones underperformed, with a more than 1% fall in Salesforce and Microsoft being the biggest drags, while the rate-sensitive small-cap Russell 2000 dropped 0.4%.
Ahead of Market: 10 things that will decide stock action on Wednesday
Nifty soared to a new record high on Tuesday, forming a bullish pattern on the charts. After breaking through the 24,400 resistance level, the next target for the index could be 24,960. The momentum indicator showed bullish trade on the counters of BASF India, Kaynes Technology, Hindustan Aeronautics, Britannia Industries, and Colgate-Palmolive (India).
S&P 500, Nasdaq notch record highs with inflation data, earnings in focus
The slower-than-expected June US job growth, as revealed in Friday's nonfarm payrolls report, has strengthened expectations of interest rate cuts as early as September. While investors seek further clarity on the Federal Reserve's monetary policy path, traders are now pricing in a higher probability of a 25-basis-point cut in September and a total reduction of approximately 50 basis points for the year.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty concluded Monday's session on a neutral note, forming a Doji pattern on the daily charts. This indicates hesitation among investors, with neither bulls nor bears gaining a clear advantage. Despite this pause, the short-term trend remains positive.
Retailers focusing on main streets for new store opening
According to Cushman & Wakefield, the continued dominance of main street retail leasing is owing to limited new mall openings and a strong demand for high-quality retail spaces.
Ahead of Market: 10 things that will decide stock action on Monday
Indian markets saw another positive week with benchmark indices maintaining their winning streak. US markets hit fresh highs on Friday. MACD signals both bullish and bearish trends on different stocks. Market sentiment remains positive with more stocks ending in the green.
The 2024 NASCAR Chicago Street Races Live: Where to watch on streaming
NASCAR makes a thrilling return to the streets of Chicago with the 2024 Chicago Street Race. This event offers a unique racing experience as drivers tackle the challenging 2.2-mile Chicago Street Course.
Megacaps push Nasdaq, S&P 500 to record highs after payrolls data
Major tech stocks like Microsoft, Meta, Amazon, and Apple surged to record highs, driving the information technology sector to an all-time peak. This also propelled the S&P 500 communication services sector to its highest level since 2000.
When the stock market is a one-way street
Post-pandemic central bank policies have spurred a robust, seemingly perpetual equity rally, challenging traditional cycles. Despite economic growth concerns, instability, and geopolitical risks, markets remain resilient due to low interest rates and high liquidity. Household investments and mutual funds, driven by past returns, fuel this illusion of growth, defying expectations of a market correction.
Markets on alert for Biden exit as Trump-win trades mount
Portfolio recalibration began at the end of last week after Biden's contentious debate with Trump sparked concerns about the 81-year-old Democrat's suitability for another term.
Ahead of Market: 10 things that will decide D-Street action on Friday
While the Nifty's overall trend appears positive across different time frames, it is currently facing resistance around the 24,400 level, which coincides with a 1.618% Fibonacci Extension. This suggests the possibility of a temporary consolidation or minor dip in the upcoming trading sessions before the index potentially resumes its upward movement.
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.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark BSE Sensex breached the historic 80,000 level intraday for the first time while Nifty raced more than 162 points to close at a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends. Bulls have regained control from bears. This shift in sentiment has once again favored long trades in the market.
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The Nifty's upward trajectory persists, with any potential dips or consolidation presenting buying opportunities, according to the prevailing bullish pattern.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty continues its upward trajectory, displaying positive chart patterns with higher tops and bottoms. According to Nagaraj Shetti of HDFC Securities, the market's bullish momentum could propel it towards the 24,400 mark in the near term, with immediate support at 23,980 levels.
Ahead of Market: 10 things that will decide D-Street action on Monday
Having moved up sharply Nifty is currently facing hurdles at the resistance of 24,000-24,100 levels. Any dip from here is likely to be a buying opportunity. Immediate support is at 23,800 levels, said Nagaraj Shetti of HDFC Securities.
Who was Lizzy Musi? Know how she battled Cancer and kept on racing
Lizzy Musi, a 'Street Outlaws: No Prep Kings' star and renowned racer, passed away at 33 battling breast cancer. Known for her groundbreaking achievements, she continued to inspire through her resilience and involvement in her family’s racing business.
S&P 500 tops 5,500 after ‘near perfect’ economic data
Excluding the volatile food and energy components, the core inflation figure rose by 0.1% month-on-month and 2.6% year-on-year. According to LSEG FedWatch data, the probability of a rate cut in September increased to 68% from 61% prior to the release of the data. Despite the Federal Reserve's projections of only one rate cut this year, traders are maintaining their bets on two cuts, hoping for a continued decline in inflation and considering the economy's vulnerability to historically high interest rates.
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