Usa Financial News

Two months into its military campaign in Gaza, Israel seems to be fighting a losing battle for international support. It has lost key votes at the United Nations and even supportive powers like the United States have voiced their discontent with Israel’s conduct of the war. Mint looks at Israel’s position.

cricket. Previously, the BCCI bestowed a similar honour on Sachin Tendulkar when they retired his No. 10 jersey in 2017.

Decentralized finance protocol SafeMoon has officially filed for Chapter 7 bankruptcy protection in the face of mounting allegations of fraud and mismanagement.

Nilesh Shah, MD, Kotak AMC, says “India today is trading at a premium valuation to others as the Spider Man movie said “with great power comes great responsibilities.” With higher valuation, comes higher expectations. Our headwind will be to deliver on those expectations. We are like Suryakumar Yadav or Virat Kohli, we are supposed to score a century every time we come to bat; a 10-run, 30-run cameo is not good enough.” Just taking a cue from your last tweet, who is going to win the race? Valuation or past performance? That is a very-very tough question.

Maneesh Dangi, Founder, Macro Mosaic Investing & Research, says “we are entering a very longish bond rally and much of the pain of 2022 would unwind in 2024… On currency also, we are perhaps entering a very longish dollar bear market. And there is a small chance that the dollar actually does somewhat well in the US recession, but otherwise in a very-very long US bear market and that will actually help us emerging market currencies pretty significantly.” What a change in stance by the Fed! Were you expecting it? Yes, incidentally, I sort of made this prediction on your channel a week ago. I have made this point a couple of times in the last two months that we are closer to the Fed pivot, closer to a deep dive in US interest rates. People often think that more of today will continue tomorrow but at times, of course, these things change and typically rate these oscillating variables. I was expecting this, I have written about it extensively and I think rates in the US are headed much lower from where they are today. They have already rallied quite substantially but a significantly rally ahead. A US economy cannot absorb such high interest rates and the Fed had to recognise and they did once they have begun to side that inflation is sort of in control right now.

While many sectors and themes have done well in 2023, HDFC Asset Management is positive on four major sectors, entering into 2024. “At the broader level, we are positive on sectors with good prospects of earnings growth and where valuations are reasonable,” said Rahul Baijal, senior fund manager – equities at one of India’s leading asset management companies. In his view, some of the large banks seem well placed given their strong balance sheets, healthy credit growth, good asset quality and reasonable valuations. Telecom and healthcare are the other two sectors that Baijal thinks look good from a medium to long term perspective. Edited excerpts. How does 2024 look up for the Indian equity market? What are the key factors that will drive inflows? Indian equities have done well in 2023 and are likely to end the year on a positive note, with all three market cap segments delivering positive returns. In my view, as we enter 2024, global macro factors may dominate local macro in the first half of the year. The nature of the slowdown in the US and the movement of the US 10-year yield is likely to continue to cause volatility, as has been the case in the recent months. Locally, the economy is in a good shape with healthy macroeconomic fundamentals.

Dubai, US special envoy John Kerry admitted that he thought it might never happen. The seasoned international negotiator recalled a conversation with one minister who worried about a deal that would signal the end of fossil fuels. «One minister from one of those countries involved said, 'John, you can't ask us to commit economic suicide',» Kerry said. He did not name the country but Saudi Arabia, the world's top oil exporter, led the charge against any strong language against fossil fuels. Kuwait and Iraq were also staunch opponents. In the end, nearly 200 countries adopted on Wednesday a deal stating that the world will be «transitioning away from fossil fuels» in order to achieve net-zero emissions by 2050. It was the first time in the 28-year history of the Conference of the Parties that all fossil fuels were mentioned in an accord. «I never thought we were going to have the kind of breadth that we have today, to be honest with you,» Kerry said on Wednesday.

Federal Reserve's policy meeting earlier this week. Gains were seen across all the sectors. The BSE Sensex was trading 287 points or 0.41% higher at 70,801.

By Kylie Madry

Native Americans of the Pacific Northwest until its rapid demise following European colonization, a study in Science showed Thursday. The new research was based on a genetic analysis of 'Mutton' one of the last surviving Coast Salish woolly dogs whose pelt was sent to the nascent Smithsonian Institution in 1859, only to be largely forgotten until the early 2000s. Interviews contributed by Coast Salish tribal co-authors, meanwhile, revealed the dogs occupied a previously underappreciated high-status in Indigenous societies, which revered the animals as members of the family and adorned their most treasured items with their emblem. The dogs' fleeces were shorn like sheep, with Coast Salish weavers using the wool to craft blankets and baskets that served ceremonial and spiritual purposes. «I was always curious about why and how the pre-colonial indigenous dogs in the Americas had gone extinct after the arrival of the Europeans,» lead author Audrey Lin, a molecular biologist currently at the American Museum of Natural History, told AFP. Where and when dogs were first domesticated remains murky, but it's clear that some of the first people who settled in the Americas brought their canine companions with them from 15,000 years ago. Within the span of a few centuries of Western settlers, however, these breeds were all but wiped out — and modern American dogs contain exceedingly little genetic material of their lost cousins.

By Jessie Pang and James Pomfret

Elon Musk must testify again for the U.S. Securities and Exchange Commission's probe of his $44 billion Twitter takeover, handing the SEC a victory in its latest skirmish with the world's richest person. During a hearing in San Francisco, U.S. Magistrate Judge Laurel Beeler quickly rejected arguments by Musk's attorney that SEC officials do not have the authority to issue subpoenas, saying the agency has broad investigative powers and that no judge would «second guess» an SEC probe.

artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top financial regulators and is chaired by Treasury Secretary Janet Yellen, flagged the risks posed by AI for the first time in its annual financial stability report.

quantum mechanics — the theory in physics that describes the behavior of matter and energy at the level of atoms and subatomic particles. Quantum science has also been explained by a U.S. government scientist as the «rules that describe how really small things behave.» This field is full of surprises, even for the experts. Richard Feynman, the late theoretical physicist, Nobel laureate and pioneer of quantum computing, described the field as «peculiar and mysterious to everyone — both to the novice and the experienced physicist,» because it is so different to how people experience and perceive the behavior and properties of larger objects.

Yellen said former President Donald Trump's policies toward China left America «more vulnerable and more isolated» in the global economy, a rare jab by her at the front-runner for the Republican presidential nomination. Yellen, at a US-China Business Council event Thursday night, said the Trump administration «failed to make investments at home in critical areas like infrastructure and advanced technology, while also neglecting relationships with our partners and allies that had been forged and strengthened over decades.» Her comments come as the US rebuilds its relationship with the Asian superpower, including a November meeting between US President Joe Biden and Chinese President Xi Jinping in San Francisco. The two nations agreed to curb the production of illicit fentanyl, a deadly component of drugs sold in the United States, and agreed to resume military-to-military communications.

By James Pomfret, Greg Torode and Jessie Pang

By Maha El Dahan, David Stanway and Valerie Volcovici

Hamas attack on Israel on October 7 is never repeated, senior officials said. Sullivan will discuss "ongoing efforts to revamp and revitalize" the Palestinian Authority and reining in "extremist settler violence" against Palestinians in the occupied West Bank, said one of the officials, who declined to be named. Here are the top 10 updates on the Israel-Hamas war, 1) The Palestinian Prime Minister Mohammed Shtayyeh, in an interview on Thursday said the Biden administration must now “walk the walk" and take specific steps toward what has been an elusive two-state solution, including by applying pressure on Israel, AP reported.

«With India continuing to post strong growth numbers and hopes of rate cut expected in the middle of next year, optimism in equity markets could continue in the medium term,» said Prashanth Tapse, Senior VP (Research), Mehta Equities. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Sensex's ascent from 60,000 to 70,000 was not a one-sided move with the index taking nearly 551 sessions to move up 10,000 points. In contrast, the Sensex completed the journey from 50,000 to 60,000 in 158 sessions.

policy environment in 2024 have boosted most Asian currencies versus the dollar, but the rupee's gains have paled in comparison as the Indian central bank looks to build a reserves buffer and preserve export competitiveness amid a global scarcity of the greenback. On Thursday, the rupee closed at 83.3275 per US dollar, just 0.09% stronger than 83.4025/$1 at previous close. Meanwhile, currencies such as the Thai baht and the South Korean won notched up gains of around 2% versus the US dollar on Thursday while the Indonesian rupiah strengthened 1%, Bloomberg data showed. The Malaysian ringgit, the Taiwanese dollar, the Chinese yuan, the Philippine peso, and the Singapore dollar also outstripped the rupee's gains on Thursday, with the domestic currency extending the underperformance it showed versus its Asian peers last month.