JPMorgan Financial News

Shein IPO: Firm in talks with banks, exchanges for listing, says report Representatives for Shein, JPMorgan and Morgan Stanley declined to comment. A spokesperson for Goldman Sachs didn’t immediately respond to a request for comment. The filing was reported earlier by Shanghai Securities News.

BSE Sensex ended lower by 47.77 points or 0.07% at 65,970.04 level while the Nifty 50 closed at 19,794.70 level, down 7.30 points or 0.04%. According to technical analysts, the key indices experienced a sluggish week, with minimal momentum and prices maintaining a narrow trading range. Despite the lack of significant movements, the Nifty 50 managed to extend its weekly winning streak, securing a 0.34% gain and closing just below the 19,800 mark.

By Kane Wu and Anirban Sen

According to The Wall Street Journal, which cited internal Amazon (NASDAQ:AMZN) data and sources familiar with the matter, Amazon has surpassed both United Parcel Service Inc (NYSE:UPS) and FedEx (NYSE:FDX) to become the largest delivery business in the U.S. in terms of parcel volumes.

The rapid growth in short-dated options that have become popular with hedge funds and retail traders alike is now spreading beyond stocks into other asset classes.

One mover was gold, which climbed to $2,009 an ounce and briefly hit a six-month top of $2,017.82. The approach of month end could also cause some caution given the hefty gains investors are sitting on. Japan's Nikkei (.N225) eased 0.3%, but it still up 8.6% so far in November. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) also dipped 0.3%, giving it a monthly gain of 6.4%. Chinese blue chips (.CSI300) lost another 1.1%, and have missed out on all the global cheer with the market down 2% in November so far. China's central banks announced it would encourage financial institutions to support private companies, but was short on detail. EUROSTOXX 50 futures eased 0.2%, while FTSE futures fell 0.1%. S&P 500 futures eased 0.2%, and Nasdaq futures lost 0.4%.

A combination of slowing inflation and weakening consumer strength is expected to result in significant earnings downgrades, leading to potential equity market drawdowns and defensive sector and style rotations, according to JPMorgan strategists.

Macquarie Group’s wealth management division is without a head of investment strategy. Street Talk understands Jason Todd is no longer at his post after almost six years in the job.

AMP will fork out $100 million to exiting financial planners as part of a proposed settlement over its controversial adviser payout policy, after it lost a class action over the scheme in July.

An Oklahoma pensioner is challenging a state law that targets financial firms, including BlackRock Inc. and JPMorgan Chase & Co., for their climate change policies.

Investing.com — U.S. futures edged higher Wednesday, rebounding after the previous session’s weakness in the wake of minutes from the Federal Reserve’s last meeting which suggested interest rates could stay elevated for longer.

Polycab India and KEI Industries. JPMorgan maintained an overweight rating on RIL and Morgan Stanley has an underweight rating on IGL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Goldman Sachs on Polycab India and KEI Industries: Buy Goldman Sachs initiated coverage with a buy rating on Polycab India and a target of Rs 5750 while on KEI Industries it has kept a target of Rs 2730. Both companies are in a prime position to benefit from the nation's infrastructure push.

Tata Consultancy Services Ltd and HCL Technologies Ltd are expected to pay ₹3.5-4 lakh for engineering graduates with basic skill sets, while Wipro Ltd and Infosys Ltd will not be heading to campuses this year. Higher joining pay and no delays in starting with a company after accepting an offer have encouraged more students to accept offers from GCCs, placement executives said. “Last year (2023 batch), out of 947 companies that visited, more than 350 were GCCs.

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government bonds could see foreign inflows of close to $25 billion if they get included in key Bloomberg bond indexes, a treasury official with DBS Bank India said. The India 10-year bond yield could move lower by about 7 bps in case of any news of inclusion in the Bloomberg Index, with inflows of around $25 billion, said Sameer Karyatt, executive director — treasury and markets at DBS Bank India. But bond yields may not rise if the inclusion is deferred as the market has not rallied in anticipation, Karyatt added. Bond traders are eyeing a decision on the inclusion of Indian bonds in the Bloomberg Global Aggregate and the Emerging Market Local Currency indexes, and expect an announcement by the end of this month. In September, JPMorgan announced the inclusion of India in its widely tracked emerging market debt index from June 2024. Market participants have pegged inflows in Indian bonds in the range of $20 billion to $25 billion over the next year. Bonds under the fully accessible route, with no upper cap on foreign investments, saw more than 165 billion rupees ($2 billion) of inflows since JPMorgan's announcement, data from Clearing Corp of India showed. This has helped keep yields in check. A drop in U.S.

SG Fleet Group’s second-largest shareholder, LeasePlan Corporation, was looking to trim its 13 per cent stake after market close on Monday.

Goldman Sachs Japan is facing a major transition with the immediate resignation of its president, Masanori Mochida.

The upcoming closures of two of JPMorgan’s socially conscious exchange-traded funds are shining a spotlight on the vanishing appetite for environmental, social and governance products.

At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet a look under the hood of popular ETFs shows the boom is almost entirely taking place in passive-looking trades.

By Mimosa Spencer

JPMorgan and Apollo have collaborated with several blockchain firms to showcase a “proof of concept”, demonstrating how asset managers can tokenize funds using the blockchain of their preference.