Nvidia slid 5.6% after reports of a delay in the launch of its upcoming artificial-intelligence chips due to design flaws. Microsoft and Alphabet fell about 3% each
The D-Street witnessed bloodbath on Monday amid major sell-off by global peers. The Sensex sank to an intraday low of 78,295 points, plunging 2,686 points, while the Nifty plummeted 823 points to 23,8
Dimon said economic indicators have been distorted by Covid-19 and he takes them with "a grain of salt," saying the Fed should wait for more clarity before lowering interest rates
While it seems increasingly unlikely the US economy is headed for recession, small businesses still face headwinds like higher costs and difficulty retaining qualified workers. But owners say they're optimistic as 2024 gets underway, according to a new survey from American Express. Eighty-five percent of all small businesses surveyed said they were satisfied with the success of their business, and 86 per cent said they achieved their 2023 business goals. In August 2023, by contrast, 80 per cent of all small businesses surveyed said their long-term financial confidence was being negatively impacted by the economy. Even in uncertain economic conditions, small businesses continue to demonstrate resiliency and dedication, said Gina Taylor, executive vice president and general manager of American Express' small business products and Business Blueprint. Our latest data shows small businesses see a positive 2024 ahead and they're taking steps, including hiring, and implementing new tools,
High interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the euro zone appear to be here to stay in the near term
The nation's employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy's continuing ability to shrug off the highest interest rates in two decades. Friday's government report showed that last month's job gain roughly twice what economists had predicted topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7 per cent, just above a half-century low. Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6 per cent from December, the fastest monthly gain in nearly two years, and 4.5 per cent from January 2023. The strong hiring and wage growth could complicate or delay the Federal Reserve's intention to start cutting interest rates later this year. The latest gains showcased employers' willingness to keep hiring to meet steady consumer spending. It comes as the intensifying presidential campaign is pivoting in no small par
Also, inflation has been falling faster than expected, and the labor market is cooling but not collapsing
The bank forecast earnings for companies in the benchmark index to rise 10% after factoring in a "mild short" recession and a 19% increase if US gross domestic product grows by 2%
Here is the best of Business Standard's opinion pieces for today
A summer in which inflation trended lower, jobs remained plentiful and consumers kept spending has bolstered confidence that the world's biggest economy will avoid recession
Amidst the surprisingly strong market performance, investors are questioning the possibility of a recession in the US, but history suggests caution is still warranted
Rieder expressed his views on whether the US economy is out of crisis mode in terms of inflation, he said that once the inflation rate reaches close to three per cent, it becomes less concerning
The latest round of corporate earnings is leaving Wall Street with a confounding sense of relief and lingering anxiety. Companies are in the midst of an earnings recession", meaning profits have contracted for two straight quarters, starting with a 4.6 per cent drop at the end of 2022. Profits for S and P 500 companies shrank just over 2 per cent last quarter, compared with forecasts of a 6.7 per cent drop. That brought some relief to Wall Street that the quarter wasn't as bad as it could have been. But, analysts also expect more pain ahead. Analysts polled by FactSet now expect a 6.4 per cent contraction for profits in the current quarter. That shows just how worried analysts are about the impact from inflation on businesses and consumers. Fears about a recession continue to weigh on the broader economy and are a big factor in corporate and independent forecasts for company profits. With a recession still looming, it's unlikely that earnings have hit rock bottom, said Michael Aro
A severe and prolonged global economic recession would be all but guaranteed, and the reputation of the US and the dollar as beacons of stability and safety would be further tarnished
In Powell's view, the gravity-defying strength of American labor markets is smoothing the way for a soft landing, even after five percentage points of interest-rate hikes in little over a year
The foreign brokerage firm expects Nifty to drop to 16,000 levels as they foresee global slowdown, volatile commodities, peak urban demand/slow rural revival as some of the risks for earnings.
The Conference Board said its consumer confidence index fell to 101.3 - the lowest since July 2022 - from a revised 104.0 in March
CLOSING BELL: IDBI Bank shares, too, surged 10 per cent after a Reuters report said the RBI has begun evaluating at least five potential bidders interested in picking up a majority stake in the lender
With the US and Indonesian central banks seen approaching the end of their respective hiking cycles, inflows looking for higher carry returns are likely to keep increasing in the second quarter