[22 Nov 2024] Friday U.S Stock Markets Updates:
U.S Market Indices:
Dow Jones +0.97%, NASDAQ +0.16%, S&P 500 +0.35% (5th winning day in a row), Russell 2000 +1.8%.
Top Performers:
Energy and industrial stocks drove gains as investors rotated into economy-sensitive sectors.
Tech-Related Moves:
Losers: Nvidia -3%, Alphabet -2% (continuing downward pressure on tech stocks).
Other Assets:
10-Year Yield 4.42%, Dollar Index 107.53 (Euro slips to a 2-year low), Brent Crude $75.2/barrel (+5% last week on Ukraine war fears), Bitcoin $96,800, Gold $2,710/ounce (+5.7% on safe-haven demand).
Sector Highlights:
Cyclical sectors gained while tech saw selective corrections.
Key Developments:
Economic uncertainty spurred a surge in gold, while crude gained on geopolitical risks.
Market News from Business News Agencies:
Business Standard:
Major port cargo contracts by 3.2% to 68.22 mmt in October, shows data
Bank of India plans to raise Rs 5,000 crore via 10-year infra bonds
Urban demand needs an upward spiral: ITC Executive Director Bhargavan
FMCG distributors write to Finance Ministry on quick-commerce practices
India-dedicated fund outflows hit largest since June 2022: Elara Capital
Govt should add coking coal to critical minerals list: Niti report
NGEL to invest Rs 2 trillion in Andhra for renewable energy projects
SBI launches low-cost tailored vehicle loan for Uber's fleet partners
Raymond receives NOC from exchanges for demerger of its realty business
Flipkart's Binny Bansal steps down from fintech major PhonePe board
Govt extends deadline for electric construction equipment safety compliance
Advent agrees to sell Manjushree Technopack to PAG for nearly $1 billion
After Mercedes, BMW India announces price hike of up to 3% from Januar
Economic Times:
India's 26 major listed realty firms sell Rs 35,000 crore worth properties in Q2; Godrej Properties at top
India Inc’s interest cover weakens in Q2 amid slowing revenue, profit growth
FSIB recommends Binod Kumar for post of Indian Bank MD & CEO
CCI rejects Apple request to put antitrust report on hold
Central Bank of India gets RBI nod to enter insurance biz through JV with Generali group
AkzoNobel India approves selling company's immovable properties
Sony bags Asian Cricket Council media rights till 2031
Centre readies Technology Collaboration Portal to bridge chemical makers and research institutions
Trai asks telcos to publish coverage maps on websites
German GDP downgraded in new blow for struggling economy
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
Centre releases 15th Finance Commission grant for rural local bodies in Karnataka
Mint:
India's food processing industry spurs FMCG fresher jobs hiring; rising to 32% in H2FY24
Finance COP fails to offer adequate finance to developing countries for climate
India announces $5 billion incentive to boost electronics manufacturing
Demand from Europe fuels recovery in Indian textile exports
IIFCL seeks infra tag for space sector; keen to finance satellite vehicles manufacturing: MD
Auto Sector Q2 Review: OEMs struggle, 2W demand supports ancillaries
Mumbai, Delhi lead surge in demand for luxury residential properties in APAC
Services sector boosts business activity as manufacturing growth slows in Nov
India at CoP-29: Push for climate finance and strengthen domestic sources
Zepto raises another $350 million in third fundraise in six months
Bulk drug makers to benefit from price stability but need to improve efficiency
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