Usa Financial News

The Dow Jones Industrial Average rose 94.74 points, or 0.28%, at the open to 34,441.64. The S&P 500 opened higher by 20.32 points, or 0.46%, at 4,426.03, while the Nasdaq Composite gained 104.71 points, or 0.77%, to 13,695.36 at the opening bell. More to come...

Tiger Global, through its affiliate Internet Fund III Pte, has exited food delivery platform Zomato by selling its entire stake via bulk deals on Monday. Under the transaction, the US hedge fund has offloaded 12.3 crore shares or 1.47% stake in the company on BSE at Rs 91.01 apiece, earning about Rs 1,123 crore. Marquee funds, including Axis Mutual Fund, Goldman Sachs, Citigroup, Morgan Stanley Asia, and Societe Generale were among the buyers in the transaction. Meanwhile, another Russia-based fund Apoletto Asia has sold 3.19 crore shares in a separate deal on NSE, according to exchange data. Earlier, it was reported that Japanese tech giant SoftBank was likely to offload Zomato shares as the lock-in for the post-Blinkit deal ended on Friday. Zomato issued fresh equity shares to all the selling shareholders of Blinkit as consideration for the M&A last year.

Hurricane Franklin is forecast to become the Atlantic’s first major hurricane of the season on Monday and is on track to pass close to Bermuda on Wednesday, the U.S. National Hurricane Center (NHC) said on Sunday.

(Reuters) — Shares of Vietnamese electric-vehicle maker Vinfast surged 30% in premarket trading on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion.

It’s a significant week for the markets, as a plethora of economic data is poised to determine the trajectory for the upcoming month. Yields have demonstrated a steady advance, the US dollar has exhibited strength, and equities have undergone a downturn. Notably, the S&P 500 is currently displaying a series of cautionary signals.

BEIJING (Reuters) — The United States and China agreed to launch an export control enforcement information exchange and a new working group on commercial issues, the U.S. Commerce Department said on Monday, giving Beijing a potential forum to express concerns.

Tradition has seen generations of American workers look forward to giving up work. But we’re in an age where traditions are often challenged.

Employment growth in the world’s largest economy probably cooled and wage increases moderated in August, suggesting a further tempering of inflation risks that reduces the urgency for another Federal Reserve interest-rate hike.

Money is one of the most worried-about things, especially with squeezed household finances, and the dream for most people is to be financially free. But most Americans are not achieving it.

Hedge funds’ bullish bets in emerging-market equity futures have risen to the highest since the gauge’s pandemic low three years ago, signaling budding optimism for the asset class.

European stocks started the week on a positive note, tracking Friday’s gains on Wall Street following cautious comments from central bankers at Jackson Hole. China’s support measures for its equities market helped lift sentiment.

Reliance Industries share price fell over 1% as Mukesh Ambani delivered speech at 46th AGM. Sensex closed 110.09 points, or 0.17 per cent, higher at 64,996.60 while the Nifty ended at 19,306.05, up 40.25 points, or 0.21 per cent.

Nifty snapped their two-day losing run on Monday on gains in select heavyweights, including HDFC Bank, Larsen & Toubro and Mahindra & Mahindra amid largely positive global cues after China announced steps to give a boost to its market. China cut the stamp duty on stock trading by fifty per cent, starting Monday. Besides, it also said it will slow the pace of initial public offerings (IPOs).

Jio Financial Services will enter the insurance sector, said Mukesh Ambani at Reliance's 46th annual general meeting (AGM) on Monday. "JFS will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players. It will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way," said the Reliance Chairman. JFS plans to democratise financial services for 1.42 billion Indians, giving them access to simple, affordable, innovative, and intuitive products and services, he said. Mukesh Ambani talked about the joint venture of Jio Financial Services with US-based BlackRock, the world’s largest asset manager. «BlackRock is the world’s largest asset management company, managing assets worth over USD 11 trillion with a stellar reputation and track record.

In an unexpected turn of events, the dreams of thousands of skilled Indian professionals in the US seeking Green Cards have hit a roadblock. Renowned for its swift processing, the EB-1 route for individuals with exceptional talents or academic achievements has been a beacon of hope. However, the latest US Department of State's visa bulletin for August 2023 has unveiled a jolting 10-year retrogression for Indian EB-1 applicants, pushing the final action date back to January 1, 2012, from February 1, 2022.

free trade in the belief that it would liberalize China. But Biden maintained much of his predecessor’s tough policies toward Beijing. Tariffs remained in place.

₹200 per kg since June, while those for onions, another staple in Indian cooking, have risen 80% in some areas like New Delhi. Food inflation for July hit a staggering 11.5%, far more than 4.6% in June and marking a three-year high. As purse strings tighten, the pain felt by India's clothing and shoe retail sector - worth an estimated $62 billion in 2022 according to Euromonitor International.

coronavirus infections have been reported in the US, Europe and Asia, with cases attributed to the EG.5, "Eris" subvariant, a descendant of the Omicron lineage. While India has reported only one case of this variant so far, authorities are concerned and have swung into action. Indian scientists have stepped up genome sequencing.

At least two major crypto exchanges followed Binance in excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available on the list of P2P transactions on ByBit and OKX. 

Bitcoin (BTC) starts a new week struggling with $26,000 as August becomes its worst month of 2023.

Falling prices for steel-making coal has forced Bowen Coking Coal to rethink the future of a mine it bought only two years ago.