Usa Financial News

Gold rate today: Ahead of the US Fed meeting outcome, gold prices across work have come under pressure. On the Multi Commodity Exchange (MCX), gold rates for the June 2024 expiry ended yesterday at ₹70,466 per 10 gm level, around ₹3,500 below its lifetime high of ₹73,958 level, which it had climbed on 12th April 2024.

The scale of investment by the world’s two superpowers as they conduct a proxy war through aggressive industrial policies is epic. Given the opaque nature of China’s Communist Party government, the most cited estimate is that even five years ago, China was spending 1.7% of GDP on industrial-policy projects. That ratio has surely gone up since.

RECord high of 75,124.28 on April 9 and the Nifty 50 scaled its fresh peak of 22,783.35 on April 30. The overall market capitalisation of firms listed on BSE rose to nearly ₹406.56 lakh crore on April 30 from nearly ₹386.97 lakh crore on March 28, making investors richer by nearly ₹20 lakh crore in a month. The undercurrent of the Indian stock market remains positive due to the bright outlook of the nation's economy, the prospects of political stability after the Lok Sabha election and the strong influx of domestic investors.

South Korea has held talks about joining part of the AUKUS defence deal between the U.S., Britain and Australia, Defence Minister Shin Won-sik said on Wednesday, only weeks after the pact said it would consider including Japan. Formed in 2021, AUKUS is a two-stage security pact to counteract China's growing power in the Asia Pacific region. While a first stage to give Australia nuclear submarine technology is limited to the core trio, they have raised the possibility of other countries joining a second stage, or «Pillar 2», that aims to share other military technology.

correction in Gold prices, where the yellow metal has corrected by nearly Rs 3000 per 10 gram or 4% from the lifetime high is its biggest fall in nearly two years. Can we expect the trends to reverse or a top has been made? This is what multiple experts tell ETMakets as they spell out their trading strategy. Notwithstanding the fall seen in yellow metal over the last two weeks, the rally in gold this year so far has been nothing short of spectacular. Gold futures on the MCX have climbed nearly 13% or Rs 8,000 per 10 gram on the year-to-date basis. The gains had been primarily on geopolitical tensions increasing the safe haven appeal of gold along with hopes of an early rate cut that triggered movement in the first fortnight of April. The month-to-date price rise still stands at 6%.

The Biden administration’s move to reclassify marijuana as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy

The U.S. Justice Department has launched a double-barreled antitrust attack on Google’s dominant search and Apple’s trendsetting iPhone

A study says the climate phenomenon known as El Nino and not climate change was a key driver in low rainfall that disrupted shipping at the Panama Canal last year

New Jersey is seeking a new round of proposals to build wind energy farms off its coastline, forging ahead with its clean energy goals even as local opposition and challenging economics create blowback to the effort

Equity mutual funds have offered an average return of 2.54% in the month of April, an analysis by ETMutualFunds showed. There were around 488 equity schemes in the market. HDFC Defence Fund, the topper in the list, gave 12.56% return in April. JM Midcap Fund gave 9% return in the last month. SBI PSU Fund and DSP Natural Res & New Energy Fund gave 8.53% and 8.39% returns respectively. Franklin India Smaller Cos Fund offered 7.04% return in the said period. Mirae Asset NYSE FANG+ETF FoF gave 6.75% in the last month.

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.

On a bearish day in the crypto market that was marred by a weak debut to spot Bitcoin and Ether ETFs in Hong Kong and data that reinforced expectations that the Fed will wait longer before cutting interest rates, traders looking for quick gains are flocking to on-chain shitcoin markets as they hunt for top crypto gainers today.

As Bitcoin (BTC) probes for a break below $60,000 and Ether (ETH) pushes under $3,000, crypto investors are turning to the altcoin market as they hunt for the best crypto to buy today.

House Financial Service Committee Chair Patrick McHenry took to X on April 30 to claim United States Securities and Exchange Commission (SEC) Chair Gary Gensler “knowingly misled Congress when pressed on the classification” of Ethereum (ETH) in his testimony to the Financial Services Committee last April.

Hong Kong’s entry into the spot Bitcoin and Ether exchange-traded funds (ETFs) market saw six newly introduced ETFs record a trading volume of HK$87.5 million ($11.2 million) on their first day of trading. 

stocks gave up early gains in a sharp selloff in the last hour of trading. The Nifty hit an all-time high during the trading session but could not sustain the bullish momentum with traders cutting their bets ahead of the US Federal Reserve's policy meeting on Wednesday. India's stock market will be shut on Wednesday for Maharashtra Day. NSE's Nifty closed at 22,604.85 on Tuesday, down 38.55 points, or 0.17%, after making a fresh lifetime high of 22,783.35 during the day. BSE's Sensex declined 188.5 points, or 0.25%, to end at 74,482.78. The index's Tuesday high of 75,111.39 was 13 points short of its all-time high. Both indices had risen as much as 0.6% during the session.

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.

Federal Reserve's interest-rate decision and as stronger-than-expected labour costs hinted at persistent inflation. US labour costs increased in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year that will likely delay a much-anticipated interest rate cut later in 2024. In midday trading, the benchmark 10-year yield rose 4.7 basis points (bps) to 4.659%. The yield on the 30-year Treasury bond was up 3.2 bps at 4.767%. On the short end of the curve, the U.S. two-year Treasury yield, which typically reflects interest rate expectations, rose to hit its highest since November at 5.03%. The yield was last up 3.9 bps to 5.01%.

Sensex ended 188.50 points, or 0.25%, lower at 74,482.78, while the Nifty 50 settled 38.55 points, or 0.17%, lower at 22,604.85. Investors now watch out for the US Federal Reserve meeting outcome for further clues on interest rate cuts. The Indian stock market is closed on Wednesday, May 1, on account of Maharashtra Day.

employees, the company said in its financial statements. Investigation into the complaints is ongoing and till now no instance of financial impropriety has been found, chief executive and managing director Angan Guha said.

Kogo AI is set to launch its large action model (LAM)-based platform Kogo OS this week, said chief executive Raj K Gopalakrishnan. It will be offered as platform-as-a-service for enterprises and small businesses looking to create artificial intelligence (AI) agents, he told ET.