Usa Financial News

Day trading guide for today: For second day in a row, Indian stock market opened lower but witnessed sharp recovery ahead of the market close. Key benchmark indices Nifty and Sensex ended higher whereas Bank Nifty continue to bleed on fifth day in a row. NSE Nifty added 30 points and closed at 19,465 levels, BSE Sensex went up 137 points and ended at 65,539 mark.

Indian steel magnate Lakshmi Mittal's company ArcelorMittal SA may not have to retreat from the US as US Steel Corp has reportedly proposed a new offer to the company. According to a report by Reuters, ArcelorMittal, which is the world's second-largest steelmaker, is also considering the offer by US Steel. Mittal is discussing a possible offer with its investment bankers, and there is no certainty that it will press ahead with it, Reuters mentioned adding sources.

Sensex and Nifty closing marginally higher. “The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US midsized banks. Even on the domestic front sharp surge in inflation data and weak monsoon progress in the month of August 2023 seems to have dented the investor's sentiments," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

On the occasion of the first anniversary of the Inflation Reduction Act (IRA)-a legislative attempt to combat the climate crisis, President Joe Biden hailed the bill, saying the legislation already created 170,000 clean energy jobs and will create some 1.5 million jobs over the next decade. The president added that the legislation has shifted the production of critical components away from China and into the United States. "We are building here and sending over there," Biden said.

Rahul Gandhi is set to visit Ladakh for two days, starting Thursday, as per party sources, as cited by ANI. Earlier, he toured Srinagar and Jammu twice but couldn't visit Ladakh. The party source, however, did not reveal any other plans.

TikTok’ on government-owned devices due to security concerns, joining a number of US cities in it, according to a report published by the news agency Reuters. In an official statement, the administration of New York City Mayor Eric Adams said, “TikTok posed a security threat to the city's technical networks." The agencies are required to remove the application within 30 days and employees will lose access to the app and its website on city-owned devices and networks. The City has already banned TikTok on state-issued mobile devices, Reuters reported.

Coinbase said it’s received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the U.S., sending shares sharply higher before the opening bell

“High-net-worth-individuals” in Chile are growing increasingly keen on crypto investment, an expert has claimed.

Adani PowerGQG Partners along with other investors picked up 8.1% in Adani Power in a $1.1 billion deal.JSW EnergyGQG Partners Emerging Market Fund bought 10,284,024 shares or 0.6% stake in JSW Energy at Rs 341.70 apiece for Rs 351 crore.Read more: What changed the market while you were sleepingIndiGo The family of IndiGo's co-founder Rakesh Gangwal has sold partial stake in the budget carrier through bulk deals on Wednesday.CiplaThe FDA, Konkan Division, has ordered for suspension of FDA license issued to the company's manufacturing unit at Patalganga (Unit II) for a period of 10 days in December 2023 for non-conformance of good manufacturing practices.Religare EnterprisesInvestment Opportunities fund has sold 2.45 crore shares in the company through block deals on Wednesday.IIFL SecuritiesHamblin Watsa Investment Counsel has sold 1.2 crore shares or 3.9% stake in IIFL Securities in a block deal on Wednesday.Future RetailThe resolution professional of Future Retail has approached NCLT, seeking a further extension till September 15 to complete the corporate insolvency resolution process of the debt-ridden firm.Amara Raja BatteriesAmara Raja Batteries plans to expand into the two-wheeler electric vehicle market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year.LupinLupin said it has received approval from the US health regulator to market its generic Bromfenac Ophthalmic Solution used to treat post-operative inflammation in patients who have undergone cataract surgery.

promoter entities of Adani Power Ltd sold shares worth more than ₹8,710 crore (over $1 billion) to US-based investment firm GQG Partners, its co-investors, and others on Wednesday in block deals. Worldwide Emerging Market Holding Ltd and Afro Asia Trade and Investments Ltd, the two promoter entities, together sold 312 million shares translating to an 8.1% stake. Adani Power, the thermal power generation arm of the Adani Group, closed 2.3% lower at ₹279.30 on the BSE Wednesday.

«The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,389, signaling that Dalal Street was headed for negative start on Thursday.

Ottawa’s corporate-ethics watchdog has announced an investigation into fashion company Ralph Lauren over the alleged use of forced labour in its supply chains, while putting a Toronto-based mining firm on notice.

BRICS leaders meet in South Africa next week to discuss how to turn a loose club of nations accounting for a quarter of the global economy into a geopolitical force that can challenge the West's dominance in world affairs. Russian President Vladimir Putin, who faces an international arrest warrant over alleged war crimes in Ukraine, will not join leaders from Brazil, India, China and South Africa amid rifts over whether to expand the bloc to include dozens of «Global South» nations queuing up to join.

Reuters, the fires, which ravaged a significant portion of the Maui resort town of Lahaina last week, resulted in a tragic loss of 110 lives. During the visit, Biden will personally witness the extent of the damage and hold discussions with first responders, survivors, and various governmental representatives at the federal, state, and local levels, The White House said in a statement. "I remain committed to delivering everything the people of Hawaii need as they recover from this disaster," Biden said in a post on the social media platform X, previously known as Twitter.

Federal Reserve officials at their last meeting largely remained concerned that inflation would fail to recede and suggested they may continue raising interest rates. «Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy,» according to minutes of the US central bank's July 25-26 policy meeting published Wednesday in Washington.

By Elida Moreno and Marianna Parraga

Stocks closed broadly lower on Wall Street, capping a day of declines worldwide, after discouraging data on China raised worries about the global economy

Cryptocurrency markets fell on Wednesday, with total market cap dropping by around $16 billion to around $1.1 trillion, Bitcoin (BTC) dropping 1.5% to around $28,700 and Ether (ETH) dropping 1.1% to just above $1,800, where it is now finding support from its 200DMA.

By Bhanvi Satija and Sriparna Roy

By Kanishka Singh

Ripple Labs has voiced its opposition towards the United States securities regulator’s move towards filing an interlocutory appeal relating to the summary judgment laid down by U.S. District Court Analisa Torres on Jul. 13.