Gold rose to a fresh all-time peak after a mild reading for producer price inflation kept alive hopes for Fed easing this year, though U.S. Treasury yields stuck close to five-month highs in the wake of hotter-than-expected consumer price data mid-week that forced a paring back of rate cut bets.
Big technology-related company earnings are expected to again lead S&P 500 profit growth in the upcoming U.S. reporting period, which could refuel optimism for stocks after a weak start to April.
U.S. airlines and unions urge Biden to halt U.S.-China flights due to China's anti-competitive policies. Concerns include Russian airspace advantage for Chinese airlines and unequal access impacting American carriers.
Rate futures markets now show investors see a first rate cut as most likely occurring at the Fed's Sept. 17-18 meeting after data showed inflation through the entire first quarter of 2024 was stiffer than expected and had demonstrably slowed progress on bringing it back to the Fed's 2% target.
Russian hackers breach Microsoft's email system, exploiting authentication details. Emergency directive warns of government and customer system infiltration. Cyber Safety Review Board reports preventable China hack.
Former Israeli envoy to India, Daniel Carmon, praised the Indian government for its swift and strong support after terror attacks by Hamas last year. He emphasized the need for international solidarity until all hostages are safely released. Carmon highlighted India's experience with terrorism and called for continued global attention on the hostage situation. The conflict between Israel and Hamas continues, with Prime Minister Narendra Modi among the first to condemn the attacks that resulted in numerous casualties.
Spot gold was up 0.6% at $2,386.38 per ounce, as of 0111 GMT. Bullion hit a record high of 2,389.29 earlier in the session.
Brent crude futures climbed 34 cents, or 0.38%, to $90.08 a barrel, while U.S. West Texas Intermediate crude futures rose 44 cents, or 0.51%, to $85.45, at 0033 GMT.
Stocks that were in focus included names like Canara Bank, which jumped nearly 0.62%, Paytm, which fell 1.16%, and PB Fintech, whose shares rose 3.22% on Wednesday.
Trinamool Congress MLA Hamidur Rehman issued a veiled threat to Opposition supporters, warning them not to complain if anything happens to them once central forces leave North Dinajpur district after April 26. He urged voters not to waste their votes on BJP, Congress, or CPI(M) candidates. Rehman challenged the Opposition to list their development works in the district, stating he would support them if they had any. Voting in Bengal's Lok Sabha elections will take place from April 19 to June 4.
US has limited influence on emerging powers like India, says Carnegie report. Emerging powers have taken stances conflicting with US on China, Russia. US should not frame relations with them as a competition with China and Russia, report suggests. Emerging powers' rise will shape US statecraft's operating environment. They will pursue self-interested foreign policies, challenging some US policies. US should focus on negotiating interest-based deals with emerging powers, report advises.
Canada has downsized its Indian diplomatic staff due to decreased Canadian personnel, affecting operations in Mumbai, Chandigarh, and Bengaluru. This action follows India's expulsion of Canadian diplomats last year. Despite strained relations, Canada affirms its enduring ties with Indian citizens.
Delhi Chief Secretary Naresh Kumar and subordinate face FIR following NGO complaint. Allegations include vandalism, theft, and intimidation related to corruption accusations. Uttarakhand court orders investigation into the case.
Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.
Interest rate-sensitive megacaps gave the tech-heavy Nasdaq a decisive edge. The S&P 500 also closed in positive territory, while the Dow ended essentially unchanged.
Japanese Prime Minister Fumio Kishida, U.S. President Joe Biden, and Philippines President Ferdinand Marcos Jr. unveiled agreements to boost security and economic ties at the White House. Highlights include military upgrades, potential Japanese involvement in the AUKUS pact, Microsoft's $2.9 billion investment in Japan, joint AI research, Japan's participation in the Artemis moon project, and a partnership on nuclear fusion. Plans for a high-speed rail in the U.S. using Japanese bullet trains and... Читать дальше...
This acquisition is in line with the infrastructure yield strategy to generate regular distributions for investors by acquiring quality operating infrastructure assets with strong cash flows and unlocking value through active asset management, the company said in a statement.
President Joe Biden reaffirmed the United States' commitment to its Pacific allies, meeting with Philippine President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida at the White House. The leaders discussed growing concerns over Chinese military actions in the Indo-Pacific, with Biden emphasizing the U.S.'s unwavering support for Japan and the Philippines. They also announced joint patrols in the Indo-Pacific and the launch of an economic corridor in the Philippines. The summit aimed... Читать дальше...
This eye-popping pace of decade-long expansion, evident in the financialisation of savings in a country that had largely preferred bullion and property as stores of value, has failed to keep several global financial giants interested in holding majority stakes in the business - something that appears counterintuitive at first glance.