Usa Financial News

As nations, both India and the US have shared civilizational values, especially the unshakeable belief in democracy as a just and equitable political model. There is another critical area where commonality seems to be emerging: the path that leads from monetary policy to the political economy. The US central bank, the Federal Reserve, and the Reserve Bank of India (RBI) are both confronted with a quandary that has implications for the theatre of politics.

Q4 results today: A total of 35 companies will announce their financial results for the fourth quarter of FY24 today, April 29. Also Read: Q4 results: 211 companies to declare earnings this week UltraTech Cement, Trent, UCO Bank, KPIT Technologies, Poonawalla Fincorp, Tata Chemicals, Gillette India, PNB Housing Finance, Birlasoft, KFinTechnologies, Can Fin Homes, Vesuvius India, Shoppers Stop, Spandana Sphoorty Financial, eMudhra, Tips Industries, Jana Small Finance Bank, and Fedbank Financial Services will announce their Q4 results today. Rossari Biotech, LG Balakrishnan and Brothers, Shipping Corporation of India Land And Assets, Indostar Capital Finance, Satin Creditcare Network, Veefin Solutions, Aurum Proptech, Ador Fontech, Quest Capital Markets, Lagnam Spintex, CNI Research, Sumeru Industries, and Jumbo Bag are also scheduled to release their Q4 FY24 earnings during the day.

Initially, when funds reached the RBI’s investment limit in 2022, it was believed to be temporary, with the cap expected to increase soon. However, the cap continues to remain unchanged, having deprived investors of overseas exposure for over two years now. Of the 69 international funds, 26 have been closed in some capacity. Some have been toggling flows intermittently due to limited capacity. The Rs.7,500 crore Motilal Oswal Nasdaq 100 ETF initially paused flows for 3-4 months two years ago, but now remains open, providing liquidity daily based on demand. However, it uses outflows to manage limits and may close at any time. Pratik Oswal, Head, ETFs and Index Funds, Motilal Oswal AMC, points out, “We have some headroom to invest abroad, but we are not encouraging large investors and are giving preference to retail SIP contributions.”

Yemen's Houthis have struck again, with reports emerging of an oil tanker damaged and a US drone shot down amid escalating tensions over Israel's offensive in Gaza, Al Jazeera reported. In his latest televised address, the Houthis' military spokesman, Yahya Saree, claimed responsibility for targeting the «British oil ship Andromeda Star» in the Red Sea with naval missiles. The vessel sustained minor damage, according to the US Central Command (CENTCOM), but is continuing its journey unimpeded. There were no injuries reported among the maritime military coalition deployed in the area to counter such attacks.

These events, unfolding against the backdrop of heightened tensions in the ongoing Israeli-Palestinian conflict, underscore the challenges faced by universities nationwide as they grapple with the increasingly visible demonstrations and encampments on their campuses.

Warren Buffett’s favourite Japanese trading houses, according to a person familiar with the matter. The size of the activist group’s investment is around “several tens of billions of yen," the person said, asking not to be identified because the transaction hasn’t been publicly disclosed. Every ¥10 billion ($63 million) investment is equivalent to a 0.2% stake in Sumitomo, based on Friday’s closing share price of ¥3,909.

Sensex declined 609.28 points to close at 73,730.16, while the Nifty 50 settled 150.40 points, or 0.67%, lower at 22,419.95. Nifty 50 formed a long negative candle on the daily chart on Friday, just beside the long bull candle of Thursday. Also Read: Indian stock market: 7 key things that changed for market over weekend - Gift Nifty, US inflation to tech stocks rally “This is signaling a formation of bearish dark cloud cover type candle pattern at the highs.

Read here: Week Ahead: Q4 Results, US Fed Policy, Auto sales, global cues among key market triggers this week On Friday, the Indian stock market indices ended sharply lower, snapping their five-day winning streak. The Sensex declined 609.28 points, or 0.82%, to close at 73,730.16, while the Nifty 50 settled 150.40 points, or 0.67%, lower at 22,419.95. “We expect market momentum to resume with a focus on stock-specific action due to the ongoing result season and sector rotation at play.

A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed.

ACINQ’s Phoenix Wallet and zkSNACKs’ Wasabi Wallet have  decided to discontinue  their services for customers in the United States. 

ALSO READ: US Fed bets reprice: China, Japan, South Korea and India look attractive On April 30 (Tuesday), reports on employment cost index for first quarter (Q1) and consumer confidence for April will be unveiled. On May 1 (Wednesday), data on ADP employment for April, auto sales for April, and ISM manufacturing for April will be released. On the same day, FOMC (Federal Open Market Committee) interest rate decision will be announced, followed by Fed Chair Jerome Powell’s press conference.

Musk posted a picture with Qiang and said, "We have known each other now for many years, since early Shanghai days." ALSO READ: Top News Today: Elon Musk's surprise China visit, AdaniConneX securing loans, PM Modi in Karnataka and more Chinese state media reported that the Tesla CEO met Premier Li Qiang in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation, Reuters reported. During his tour, Musk was expected to discuss the rollout of Full Self-Driving software and permission to transfer data overseas. The US electric vehicle maker rolled out Full Self-Driving, or FSD, the most autonomous version of its Autopilot software, four years ago.

WASHINGTON — Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York.

The U.S. government’s auto safety agency is investigating whether last year’s recall of Tesla’s Autopilot driving system did enough to make sure drivers pay attention to the road

JPMorgan CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation

Tesla founder and CEO Elon Musk has met with a top government leader in the Chinese capital, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show

Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore. The startup is likely to commence operations in the next three months. «We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million,» Mitra — one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned — told PTI.

Stocks that traded heavily or had substantial price changes on Friday: Alphabet, Snap rise; Intel, Boyd Gaming fall

Alphabet and Microsoft led the U.S. stock market to its first winning week in the last four and its biggest weekly gain since November

Employees increasingly find that robust workplace volunteer programs meet their desires for in-person connections, professional growth and altruistically inclined employers — career objectives that might be missing in conventional corporate atmospheres

Temporary farmworkers are getting more legal protections against employer retaliation, unsafe working conditions, illegal recruitment and other abuses