Goldman Sachs sees S&P 500 rising to 8,700 next year despite slower earnings growth
According to Goldman Sachs, the S&P 500 index may reach 8,700 points within the next year, despite a decline in tech shares after the midterm elections in the US. They foresee a notable deceleration in global earnings growth by 2027, mainly in the US. Nevertheless, Goldman remains optimistic about equity valuations, indicating good returns are […]
US Supreme Court to consider lawsuit over Robinhood’s 2021 IPO
Robinhood Markets has filed an appeal with the US Supreme Court concerning a class action lawsuit brought forth by investors. The lawsuit claims the company misled investors ahead of its IPO in July 2021 by not revealing how reduced trading volumes would affect their investments. After initially dismissing the case, the 9th Circuit Court of […]
5 world market themes for the week ahead
Nvidia’s recent leadership change and the upcoming IPO of Anthropic could significantly influence the AI market dynamics. US-China relations are set for discussions as Trump and Xi meet amid various geopolitical concerns. Oil prices remain volatile due to Middle East tensions and supply changes, affecting potential inflation relief. A UK and EU summit aims to […]
Fed’s Jefferson says he is taking his policy cues from inflation
Federal Reserve Vice Chair Philip Jefferson emphasized inflation as the main factor in determining monetary policy. He highlighted that economic growth and a stable labor market have been observed. Jefferson indicated that upcoming adjustments to policy should rely on data trends and the evolving economic outlook. Concerns about artificial intelligence displacing workers were also mentioned […]
Mahanadi Coalfields IPO may open next week, issue size pegged at Rs 10,000 crore
Mahanadi Coalfields, a subsidiary of Coal India, is set to launch its initial public offering next week. The IPO will open on November 19 and close on November 23, with an expected size of ₹10,000 crore. Coal India intends to divest up to 10% of its stake through this offering. The company has also received […]
OpenAI, Google, Anthropic hit with lawsuit to halt AI development
A group of nonprofits has filed a lawsuit against OpenAI, Anthropic, and other tech companies. They seek to prevent further development of advanced AI models citing potential harm to humanity. Company leaders have raised concerns about the dangers associated with artificial intelligence technologies. The lawsuit relies on California’s laws regarding unfair business practices for its […]
Can markets extend gains amid rising crude and rate hike fears?
The Indian stock indices experienced a retreat as increasing crude oil costs negatively impacted market sentiment. Retail inflation hit 6.09% in October, breaching the tolerance threshold set by the Reserve Bank of India. This spike raised alarms about possible future rate adjustments. Sectors like realty, auto, and cement faced considerable selling activity due to these […]
HUDCO, PFC, others raise over Rs 10,000 crore via bond sales
The corporate bond market in Mumbai was abuzz with activity on Friday, pulling in an impressive ₹8,441 crore. Leading the charge was HUDCO, which rolled out ₹2,500 crore of 10-year bonds, garnering substantial bids. Meanwhile, the Power Finance Corporation secured funds via 18-month and 5-year bonds, reflecting robust investor confidence.
General insurers clock 10.5% premium growth in October
General insurance companies in India saw a 10.5% increase in gross direct premium income in October. Standalone health insurers also reported significant growth, outperforming general insurers in several areas. HDFC ERGO and SBI General led the performance among private insurers with impressive increases in premium income. Public sector insurers like National Insurance also experienced growth, […]
AI relief fails to lift legacy IT stocks as earnings worries weigh
The Indian IT sector has seen a rollercoaster of activity, where mid-sized companies have outperformed their larger peers recently. Increased deal bookings are promising, yet slow revenue growth due to client indecision lingers. The emergence of AI technology brings both new possibilities and pricing pressures for classic services. To sustain their margins in this shifting […]