County Jerome Financial News

By Shubham Batra and Shashwat Chauhan

Despite a challenging day for the crypto market, Bitcoin price remained steadfast above the $29,000 threshold. This stability can likely be attributed to Fidelity's recent modifications to its Bitcoin ETF proposal. 

By Saqib Iqbal Ahmed

Investing.com — U.S. Treasury yields soar to the highest levels since the financial crisis after a speech by Fed chair Jerome Powell, dragging stocks lower. Crude rises as the U.S. looks to refill its strategic reserves, while U.K. retail sales slumped in September.

Bitcoin (BTC) passed $29,500 on Oct. 20 after an eventful 24 hours boosted BTC price trajectory, while XRP’s (XRP) price jumped above $0.50 in response to Ripple’s big legal win.

Mint reported, Federal Reserve Chair Jerome Powell said on Thursday, October 19, that inflation in the US remains too high and bringing it down to the Fed's 2 per cent target level will likely require a slower-growing economy and job market. US bond yields have gone up significantly, nearing the highest levels in 16 years. The prime reason for this is the uncertainty about future interest rates in the US.

Investing.com-- Gold prices rose to a three-month high on Friday amid persistent safe haven demand on concerns over the Israel-Hamas war, while somewhat mixed signals on U.S. interest rates also stalled a rally in the dollar and Treasury yields. 

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Analysts attributed the decline in rupee to a record rise in US Treasury yield even as US Federal Reserve Chair Jerome Powell on Thursday hinted at a longer period of monetary tightening due to higher-than-expected inflation numbers. “Trading boundaries are now set at 83.07 on the downside and 83.26 on the upside, with 83.20, appearing as a potential turnaround point for the day," Anand James, Chief Market Strategist at Geojit Financial Services, said in his USD-INR outlook.

Gold rate today: On account of dip in the US dollar after US Fed chairman Jerome Powerll hinting rate pause, gold price today ascended to fice month high on Multi Commodity Exchange (MCX). MCX gold rate for December 2023 expirty today opened higher at ₹60,401 per 10 gm levels and went on to hit intraday high of ₹60,615 levels. In international market, sport fold price is oscillating around $1,976 per ounce levels, close to its nearest hurdle of $1,980 levels.

Investing.com-- Asian stocks extended steep losses on Friday as a rout in global bond markets continued to decimate risk appetite, while traders remained on edge over any more escalation in the Israel-Hamas war. 

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates. 

By David Randall and Davide Barbuscia

HUL, ITC, and HDFC Bank. The BSE Sensex was trading 241 points or 0.31% lower at 65,427.

Federal Reserve Chair Jerome Powell said inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market

Indian markets are likely to open lower on Friday,... moreIndian markets are likely to open lower on Friday, extending loss for 3rd session following weakness in global peers as US yields rose again and Fed Chair Jerome Powell said inflation was still too high.

Day trading guide for today: Indian stock market ended lower on second day in a row following weak global market sentiments on Israel Palestine conflict. Nifty 50 index went down 46 points and closed at 19,624 levels, BSE Sensex lost 247 points and ended at 65,629 mark whereas Bank Nifty index 134 points and finished at 43,754 levels.

U.S. stocks ended lower on Thursday, with shares of Tesla down sharply and Treasury yields surging after Federal Reserve Chair Jerome Powell spoke about monetary policy and investors worried whether rates would stay higher for longer. Tesla shares dropped a day after the carmaker missed Wall Street expectations on third-quarter gross margin, profit and revenue, and its CEO Elon Musk said he was concerned about high interest rates affecting demand. Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. «The 10-year looks like it's establishing a new higher trend, which… is putting pressure on equities, at least in the short term,» said Oliver Pursche, senior vice president, advisor for Wealthspire Advisors in Westport, Connecticut. «Markets were hoping that Jay Powell would indicate that the Fed is going to pause in its interest rate hikes, and he effectively hinted at the idea that they're going to have to raise again if they continue to have elevated concerns over inflation.» Powell said at the Economic Club in New York that U.S.

U.S. economy's strength and continued tight labor markets could require still tougher borrowing conditions to control inflation, Fed Chair Jerome Powell said on Thursday, though rising market interest rates could make action by the central bank itself less necessary. Appearing to align himself with Fed colleagues who have recently said the bond market is now doing some of the central bank's work for it, Powell in remarks to the Economic Club of New York agreed «in principle» that the rise in yields was helping to further tighten financial conditions and «at the margin» might lessen the need for additional Fed rate increases. It was not an explicit endorsement of that view, but financial markets seemed to read it as one.

Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further. The surge in the 10-year U.S.

«Escalating situations in the Middle East would likely keep market sentiments subdued. Thus, we advise investors to stay cautious in the near term,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded lower by 45 points, or 0.23 per cent, at 19510, signaling that Dalal Street was headed for negative start on Friday.

market, which closed lower for the second consecutive day on Thursday. Despite an early dip, the Nifty, however, showed remarkable resilience, rebounding 113 points to conclude the session 46 points down at 19,625.