The dollar steadied after a volatile week influenced by Donald Trump’s presidential win and its potential economic impact. Markets await details on China’s stimulus plans from the National People’s Congress meeting. The Federal Reserve’s cautious approach to future rate cuts and the Bank of England’s rate cut alongside optimistic UK economic forecasts also factored into currency movements.
Posts in category Economic Times
US stocks close higher after Fed cuts interest rates (08-11-2024)
US stock market closed higher after the Federal Reserve cut interest rates. The rate cut followed Donald Trump’s return as US president. Market reacted positively to Trump’s policies. The Dow Jones Industrial Average remained flat. The S&P 500 and Nasdaq Composite gained. Communication services sector led the gains. Financials sector declined.
US Fed cuts key rate by a quarter point (08-11-2024)
The Federal Reserve lowered its key interest rate by a quarter-point in response to declining inflation. This follows a larger cut in September, signaling the Fed’s focus on both job growth and inflation control. While inflation has fallen closer to the Fed’s target, it remains slightly elevated.
Key market indices climb down from Trump Tower (08-11-2024)
India’s equity benchmarks fell on Thursday, driven by rising US bond yields and continued selling by foreign investors. The surge in US yields, triggered by Donald Trump’s election victory, has raised concerns about potential slowdowns in US rate cuts, impacting foreign investments in emerging markets like India.
Hindalco stock correction opens up a buying opportunity (08-11-2024)
Experts view the recent drop in Hindalco Industries’ share price as a buying opportunity, citing strong fundamentals. Despite a recent dip due to weak earnings from its US arm, Novelis, analysts remain optimistic about the company’s long-term prospects, particularly its upcoming US facility.
Asian stocks, bonds rally as Federal Reserve cuts rates (08-11-2024)
Australian and Japanese shares advanced along with Hong Kong futures, while the Golden Dragon index of US-listed Chinese companies jumped 3.5%. The S&P 500 gained 0.7% and the Nasdaq 100 climbed 1.5%, both setting fresh peaks for a second day. An index of global equities also advanced to a record.
Pre-market action: Here’s the trade setup for today’s session (08-11-2024)
The short-term trend remains dicey with short-term volatility in the market. Until the Nifty surpasses 24,500 levels, a meaningful upside rally is not expected. At the lows, the Nifty could find support around 23,800 levels, said Nagaraj Shetti of HDFC Securities.
Stocks in news: SBI, Tata Motors, Ola Electric, Vedanta, Indian Hotels (08-11-2024)
NHPC Ltd on Friday reported 41% decline in its consolidated net profit at Rs 909 crore in the second quarter ended September 2024. The same stood at Rs 1546 crore in the last year quarter.
Trump’s Jawboner-in-Chief act coming back to markets (08-11-2024)
Anytime, day or night, policymaking via Twitter – which has been rebranded as X – became the norm, hacked out in staccato bursts to his millions of followers. These musings would often trigger sudden market swings, upending in the process the work and sleep schedules of traders and investors across financial markets.
Sovereign green bonds now eligible under FAR (08-11-2024)
This inclusion of green bonds in the FAR category is expected to increase investor appetite for the paper, experts said. The RBI has issued a total of ₹36,000 crore in green bonds since 2022-23.