2024 Financial News

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Invesco Galaxy’s spot Ethereum exchange-traded fund (ETF) application, with a new decision to be made in 2024.

The Polygon (MAITC) crypto has seen an increase in appeal and activity as its ecosystem could see a massive surge in activity during the upcoming year, based on an official announcement by its co-founder.

The Ethereum price has surged by 5.5% today, with the coin moving to $2,298 in the context of a market that has gained by the same percentage in the past 24 hours.

Jerome Powell (pictured), chair of the US Federal Reserve

Investing.com -- The Federal Reserve leaves interest rates unchanged following its final two-day policy meeting of 2023. However, officials hinted that they may start to roll out cuts next year, fueling a sharp rally in stocks and bonds. Attention now turns to central banks in Europe, where traders will be curious to see how much policymakers in the region push back against hopes that they will take a dovish position similar to the Fed.

Investing.com — The Federal Reserve kept interest rates steady on Wednesday for the third straight meeting, and signaled deeper cuts for next year as inflation is expected to cool faster than initially anticipated.  

Instead of holding their cards back, the Fed decided to go all in today and show their hand. I don’t play poker anymore, but the only time I would go all in in Texas Hold’em was when I thought I knew something my opponent didn’t. In some cases, my hand was so bad, and I dug myself into such a horrible hole that the one chance I had to survive was to try to bluff my way out of it. That didn’t always work, though.

The World Bank is forecasting that China's economy will slow next year, with annual growth falling to 4.5% from 5.2% this year

Mickey Mouse is about to belong to you and me

(This story originally appeared in on Dec 12, 2023)

Cryptocurrencies staged a recovery this year after a torrid 2022 in which a market meltdown and a string of scandals, including the collapse of FTX and fraud charges against its CEO, Sam Bankman-Fried, undermined the credibility of the industry. The price of bitcoin, the biggest cryptocurrency and the market's chief barometer, has more than doubled this year, reaching a 20-month high in November of $42,000 per token. As of Friday, 2023 was its best year since 2020 in terms of percentage gains. The market has been buoyed by expectations that cooling inflation will allow central banks globally to forgo further rate hikes and start easing next year, making risk assets more attractive. A long-anticipated move by the U.S. Securities and Exchange Commission(SEC) to approve a spot bitcoin exchange-traded fund (ETF) has also been a boost.

Netflix is set to pull ahead of Disney+ in the race for U.S. advertising dollars next year as price hikes and a password-sharing crackdown pull more viewers to its ad-supported plan, an Insider Intelligence report projected. The streaming pioneer's ad revenue will likely jump 50.3% to about $1 billion next year, the report — exclusively shared with Reuters — showed.

Omidyar Network India is set to exit India after a decade of operations, as per a YourStory report. Backed by eBay founder Pierre Omidyar and Pam Omidyar, the India-specific entity, operating with a dual-chequebook investment model will cease new investments, focusing solely on closing follow-on rounds already committed, the report said. It has been decided that Omidyar Network India will cease new investments and fully withdraw from India by the end of 2024.

finances with a renewed outlook. It’s an opportunity to assess your present circumstances, pinpoint areas that can be enhanced, and establish clear financial goals for the future. As the year concludes, a valuable opportunity arises to evaluate your financial terrain and outline a path for prosperity in the approaching year.

hiring sentiment for the next three months is one of the highest across the world, with 37 per cent of employers planning to increase their staff strength amid buoyant domestic demand conditions, says a survey. According to the latest ManpowerGroup Employment Outlook Survey of nearly 3,100 employers across sectors and regions, the Net Employment Outlook (NEO) in India is the highest amongst 41 countries. The outlook for January-March 2024, calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire, stood at 37 per cent, up 5 per cent from the corresponding period of 2023, and same when compared with the last quarter. «Domestic demand remains buoyant, and private investments continue to flow in making India a lucrative economy. With stability in the political arena, progressive India is not a dream but a reality,» Sandeep Gulati, Managing Director of ManpowerGroup India and Middle East, said. As per the survey, India and the Netherlands reported the strongest net employment outlooks at 37 per cent, followed by Costa Rica and the US at 35 per cent in second place, and Mexico at the third position with 34 per cent of the net employment outlook. The global average stood at 26 per cent.

El Salvador’s highly anticipated Bitcoin (BTC) bonds, also known as “Volcano Bonds,” have received the regulatory approval for an early 2024 issuance.

Also read- HUL share price underperform Nifty Sensex in 1year . Should you Buy Sell or Hold More than 70% of the company’s revenues (73%) are from contracted customers while less than 3% is on order-to-order basis. Agrawal does not expect any impact on margins and says the margins have stayed in 26-28% range and will continue to remain so.

Investors in Chinese stocks next year will be seeking out businesses with global reach or other insulation from an economic downturn, after three straight years of China underperforming world markets. Companies in defensive sectors such as health, medical innovation and exporters in the electric vehicles supply chain and advanced manufacturing, as well as multinationals such as e-commerce firm PDD Holdings, will top the list. That's despite sell-side analysts turning bullish on China's broader market for next year, with Morgan Stanley and Goldman Sachs forecasting Chinese equities to outperform the S&P 500. «Since economic recovery is slower than expected, we lowered exposures which are sensitive to macro cycles,» said Wang Qing, chairman at Shanghai Chongyang Investment Management. Chongyang is instead buying defensive high-dividend stocks, medical innovators with global competitiveness, and advanced manufacturing backed by Beijing, Wang said, declining to list any investments by name. This follows China's blue chip CSI300 index sinking to five-year lows and losing 12% over 2023 against a 15% gain for global stocks as the Chinese economy struggled with a property crunch and a slow recovery from COVID-19. Hong Kong's Hang Seng fared even worse, sliding more than 18% to trade on a forward price-to-earnings ratio below six, against 21 for the S&P 500. Performance over the last 10 months crushed the optimism that infused the beginning of the year, with four straight months of foreign outflows in the second half of the year totalling a net 138 billion yuan ($19 billion) withdrawn from Chinese equities via the Stock Connect scheme. «Investors (have) struggled to think what the next growth driver for China will be,»

While the early part of 2024 for Indian markets is set to be influenced by the Union Budget and the general elections, stronger economic growth and improving earnings outlook should bode well for equities over the next one year, says Shreyash Devalkar, Head — Equity, Axis Mutual Fund. “There is a possibility of increased FII flows in 2024, given expectations around political stability and peaking/falling interest rates, especially towards the second half of the year,” Devalkar said in an interview with ETMarkets. Edited excerpts: With 2023 drawing to a close, how does 2024 look up for the Indian equity market? What are the key factors that will drive inflows? Heading into 2024, we must remember that 2023 was good for the market and there could be bouts of consolidation.

AP, the US Attorney's office chose not to disclose the candidate's name. Nevertheless, a representative for Republican candidate Vivek Ramaswamy confirmed on Monday that the threatening text messages were aimed at his campaign. “We are grateful to law enforcement for their swiftness and professionalism in handling this matter and pray for the safety of all Americans," Stefan Mychajliw, deputy communications director, said in a statement.

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