Economy Financial News

By Prateek Swain

By Jorgelina do Rosario

DALLAS (Reuters) — The recent rise in long-term U.S. Treasury yields and tighter financial conditions more generally could mean less need for the Federal Reserve to raise interest rates further, Dallas Fed President Lorie Logan said on Monday.

We're again going through a turbulent period in the world in which the economy and stock markets will also be more volatile in consequence. Friday was no exception.

By Karin Strohecker and Jorgelina do Rosario

It comes as the 13th round of free trade agreement (FTA) negotiations are ongoing between India and the UK, expected to significantly boost the bilateral trade partnership estimated at around GBP 36 billion in 2022. «It's fantastic to see even more UK companies thriving in India this year, generating thousands of jobs and delivering significant growth for both our countries,» said UK Minister for International Trade Nigel Huddleston, in a message for the report launch.

It was supposed to be one of the greatest stock market comebacks of all time. But after a summer slump, there’s a nagging fear it might just keep slipping away. 

Underlying U.S. inflation is seen rising at a monthly pace that corroborates the message from central bankers that interest rates will need to stay higher for longer.

By Caroline Valetkevitch and Lewis Krauskopf

Just on Friday, oil and gold longs would have retired for the weekend expecting more downside from a global macro trade that had given them the thumbs-down.

The real estate sector holds a crucial position in any nation’s economy, its influence extending from employment creation to overall economic growth. However, this sector’s dynamics are intricately tied to various factors, notably policy and regulatory alterations. Governments, over the years, have initiated regulatory reforms to streamline the real estate industry, aiming for heightened transparency, stakeholder protection, and economic advancement. Predictions indicate that by 2030, India is set to rise as the world’s third-largest real estate market, reaching an impressive value of USD 1 trillion. This constitutes a significant chunk, about 18-20 percent, of India’s GDP.

Claudia Goldin, the American labour economist, has won this year’s Nobel Prize in economic sciences. Making the announcement, the Nobel committee said that Goldin has been honoured with the prestigious award for ‘having advanced our understanding of women’s labour market outcomes.’

By Howard Schneider

Investing.com — Oil prices climbed sharply Monday as the escalating violence in the Middle East raised concerns about the security of future crude supply.

Investing.com -- U.S. stock futures slump after fresh violence over the weekend between Israel and Hamas. The conflict's geopolitical ramifications spark a jump in oil prices, adding to concerns over inflationary pressures as crucial U.S. consumer price data looms later in the week. Elsewhere, activist investor Nelson Peltz reportedly plans a push for board seats at Walt Disney (NYSE:DIS), while Citigroup (NYSE:C) agrees to sell its mainland Chinese consumer wealth unit to HSBC Holdings (LON:HSBA).

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The chief executive of the $24 billion oil and gas group Santos says the world will always need fossil fuels in some form, and there will be a large role for gas beyond 2050.

Catch Israel-Palestine War Live Updates here The fallout of Israel-Hamas war on the global economy may take time to become clear but would become more severe if the conflict spreads to the rest of the Middle East, especially Iran, which is both a major oil producer and supporter of Hamas. “It’s too early to say" what the implications may be, though oil and equity markets may see immediate fallout, Agustin Carstens, general manager of the Bank for International Settlements, said in a presentation to the National Association for Business Economics, Reuters reported.

«We already have one conflict in Europe, adding another conflict to that in the Middle East does not really create anything good, so nothing good is going to come out of it is the way we would look at it,» says Vetri Subramaniam, CIO, UTI AMC. It seems like in the conversations as well in the past with a lot of market experts, they were alluding to the fact that if at all there were to be a sort of change in the undertone of the market that would largely be led by global events or global developments. Do you think what we are seeing play out right now warrants a sort of a decisive change in the market sentiment? I am not sure everybody has managed to figure out the geopolitical implications of whatever has happened over the last three days in the Middle East and what that could actually mean for markets, but I think the bigger sort of trend is obviously that this is something which could create a fresh round of instability.

“Banking, cement, infra, paper, sugar, power and chemicals (as a contra bet) are some of the sectors where we still see reasonable valuations in some pockets,” says Jiten Parmar, Co-Founder, of Aurum Capital. In an interview with ETMarkets, Parmar said: “Many pockets look expensive. One has to look at individual stocks, for example, many stocks from defense, and railways do not have a margin of safety and are looking stretched,” Edited excerpts: Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term? For the medium term and long-term, I remain constructive on the markets. Indian economy is doing fairly well.

China Evergrande seeks to resume trading amid probe In an announcement made in August, the EV subsidiary stated its agreement to issue 6.18 billion new shares to the Dubai-based mobility company NWTN. The total consideration for this was HK$3.89 billion ($496.72 million), indicating a subscription price of HK$0.6297 per share. According to the filing on Sunday, trading in shares of the China Evergrande New Energy Vehicle Group, which had been suspended on September 28, is set to resume on Monday - October 9.