Usa Financial News

Wall Street held steady around record high levels following its latest weekly gain

U.S. auto safety regulators have closed a seven-year investigation into complaints about power-assisted steering failures in Ford Fusions without seeking additional recalls

Authorities say Yemen’s Houthi rebels have fired missiles at a ship bound for a port in Iran, causing minor damage but no injuries to its crew

Stock market today: After a heavy sell-off on Monday, banking stocks listed on Dalal Street attracted good buying interest during morning deals on Tuesday. The bank Nifty index today opened upside at 45,056 level and went on to touch an intraday high of 45,183 mark, logging an intraday rise of around 300 points within an hour of the opening bell.

SpaceX rocket on Wednesday, following recent completed touchdowns by China, India and Japan. So why entrust such tasks to the commercial sector, especially after an attempt by another company with similar goals, Astrobotic, failed just last month? The answer lies in the way NASA has fundamentally reorganized itself for Artemis, the agency's flagship Moon-to-Mars program.

NHPC in response to the third-quarter results of the Indian public sector hydropower provider. With an increased target price of ₹91, up about 6% from the prior target price of ₹86, JM Financial is still recommending NHPC as a "buy." Additionally, the brokerage believes that the stock has over 12% potential.

Cyient as its 'top pick of the week'. This is on the back of accelerating demand for ER&D services, new growth areas, and robust order intake for core services (DET). The brokerage has a ‘buy’ call on the stock with a target price of ₹2,460, implying a potential upside of 13.5 percent from its current market price of ₹2,166.40 (as on February 13, 2024).

Hindalco Industries tanked 14% to the day's low of Rs 501.10 on the NSE on Tuesday after its US-based subsidiary Novelis lowered its returns guidance for Bay Minette project to double digits from an earlier mid-teens. The company also announced an additional capex for the project which came as a shocker for the Street. On Monday, Novelis reported net income at $174 million which was up 81% year-on-year (YoY) though it excluded special items, the company filing said. The adjusted EBITDA was reported at $454 million which was up 33% YoY. The company reported net sales at $3.9 billion for the third quarter of fiscal year 2024, which decreased 6% versus the prior year period driven by lower average aluminum prices as shipments were in line with prior year levels.

cryptocurrency was also buoyed by expectations of interest rate cuts later this year and last month's regulatory nod for U.S. exchange-traded funds designed to track its price. However, Bitcoin fell just below the $50,000 mark in early trade on Tuesday, trading 3.9% higher at $49,971. Whereas, the price of Ethereum, the second-largest cryptocurrency, was up 6% at $2,649.

Russian crypto mining efforts suffered a setback last week, with police closing two large, illegal data centers.

The sentencing date for Binance founder and former CEO Changpeng “CZ” Zhao has been postponed from February 23rd to April 30th, according to a notice filed in a Seattle Federal Court, CNBC reported. Earlier, Zhao pleaded guilty to money laundering charges in November 2023.

Ethereum Exchange-Traded Fund (ETF), becoming the eighth player in the market seeking approval for a similar product, Reuters reported. This January, in a significant development for the cryptocurrency industry, the United States Securities and Exchange Commission (US SEC) approved 11 spot Bitcoin ETFs in January. This marked a watershed moment, fulfilling a decade-long demand for regulatory approval within the crypto space.

artificial intelligence (AI) computing. Track | Our Markets LIVE coverage here Nvidia rose almost 0.2 percent, closing with a market value of about $1.78 trillion. While Amazon fell 1.2 percent, it ended with a closing valuation of $1.79 trillion.

Hindalco Industries saw its stock price decline by 10% in morning trades on Tuesday post its US subsidiary Novelis posted its December quarter performance. While the financials were in line with the expectations its the Capex guidance and timeline that disappointed said analysts Novelis’ 3QFY24 adjusted EBITDA came in line with our estimates, with demand outlook improving in America, whereas Europe and Asia remain under pressure, said analysts at Kotak Institutional Equities.

The great market inflation hedge of the pandemic era is officially over. 

Houthis fired two missiles on Monday at an Iran-bound cargo ship in the Red Sea, causing minor damage to the vessel but no injuries, U.S. military officials said. The early morning strikes appeared to be the first time the Houthis have targeted an Iran-bound vessel since starting attacks on international shipping in solidarity with Palestinians over the Israel-Hamas war in Gaza, shipping sources said. «Iranian-backed Houthi militants fired two missiles from Houthi-controlled areas of Yemen toward the Bab al-Mandeb,» U.S Central Command said on the social media site X, formerly known as Twitter.

Gold prices were stuck in a tight range on Tuesday as investors refrained from making big bets ahead of a U.S. inflation report that could give fresh perspective on how soon, and by how much, the Federal Reserve could cut interest rates this year. FUNDAMENTALS

Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key U.S. inflation report that could help shape the Federal Reserve's rates outlook and determine the timing of interest rate cuts. Bitcoin remained strong after crossing $50,000 for the first time in over two years, thanks to inflows into exchange traded funds backed by the digital asset. It was last at $50,0097 in Asian hours.

Bitcoin is flirting with a winning run last seen a year ago, aided by the record-breaking debut of US exchange-traded funds for the token. The digital asset rose about 1% to $48,436 as of 9:50 a.m. Monday in Singapore, poised for a seventh straight daily gain that would mark the longest such streak since January 2023 if the advance holds, data compiled by Bloomberg show.

Qualcomm Technologies is successfully transitioning from a communications-based to a connected-computing firm, said Alex Katouzian, senior vice-president and general manager of the US company’s mobile, personal computing, voice, music, wearables, and extended reality (XR) business units. Katouzian, who is visiting the company’s offices in India where Qualcomm has around 17,000 engineers, shared his thoughts on the 5G ecosystem, artificial intelligence (AI)-enabled personal computers (PCs), generative AI (GenAI) smartphones, XR devices, and the company’s overall smart device strategy in India. Edited excerpts from an interview: The G transitions traditionally are about 10 years apart.

Donald Trump urged the Supreme Court to suspend the lower court ruling that he does not have presidential immunity from prosecution, CNN reported on Monday. The report stated that Trump called on the apex court to temporarily block a scathing and unanimous decision from the DC Circuit handed down last week, flatly rejecting his claims of immunity from election subversion charges brought by special counsel Jack Smith.