Posts in category Economic Times
Dollar bulls suffer setback as traders add to Fed cut bets (11-10-2024)
The U.S. dollar declined from two-month highs due to weak labor market signals, suggesting quicker Federal Reserve rate cuts. Despite the fall, the dollar is set for its second weekly advance after strong payrolls. Market bets for a quarter-point rate cut in November increased, and recent CPI data indicates a need for restrictive monetary policy to control inflation.
Oil eases though investors wary over potential Mideast supply disruption (11-10-2024)
Oil prices dipped slightly after a Thursday rally, with both Brent and WTI still set for weekly gains. Investors are weighing hurricane damage on U.S. fuel demand against potential Israeli retaliation against Iranian oil sites. The situation remains tense, impacting market stability.
Positive Breakout: These 7 stocks close cross above their 200 DMA (11-10-2024)
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock
China stocks open down, investors anticipate more stimulus (11-10-2024)
China’s stock market opened lower on Friday as investors await potential fiscal stimulus announcements from a finance ministry press conference scheduled for Saturday, following a week of slowed momentum despite recent gains from earlier stimulus measures.
Berkshire Hathaway raises $1.9 bln in global yen bonds, set to boost Japan bets (11-10-2024)
Warren Buffett’s Berkshire Hathaway raises $1.9 billion through a yen-denominated bond sale, marking its largest Japanese currency bond deal in five years. The raised funds will be used for general corporate purposes, signaling increased interest in Japanese assets and boosting foreign investment in Japan’s stock market.
Buffett’s Berkshire cuts stake in BofA to below 10% (11-10-2024)
Billionaire Warren Buffett’s Berkshire Hathaway sold 9.5 million Bank of America shares this week, lowering its stake to below 10%. Berkshire has been reducing its holdings since mid-July, having initially invested $5 billion in 2011. Investors will await quarterly reports for further updates.
Wall Street ends slightly lower after higher than expected inflation, jobless claims (11-10-2024)
Wall Street’s indexes fell as investors examined higher-than-expected inflation and jobless claims for clues on the economy and interest rates. The Dow, S&P 500, and Nasdaq recorded losses. Rising oil prices boosted energy shares, while airlines and Pfizer declined. Traders anticipate a probable Federal Reserve rate cut in November amid mixed signals from economic data.
GIFT Nifty down 20 points; here’s the trading setup for today’s session (11-10-2024)
Support for Nifty is now seen at 24,950-25,000 and 24,750. On the higher side, immediate resistance is at 25,100 levels and the next resistance zone is at 25,250-275 levels, Tejas Shah of JM Financial & BlinkX.