Lowe's Financial News

Treasury yields and uncertainty about the path ahead for interest rates. Investors were also attuned to developments in Washington as divisions among U.S. lawmakers put the federal government at risk of a partial shutdown by the weekend. A possible shutdown has added to worries for stock investors as they grapple with benchmark Treasury yields that have climbed to 16-year highs after the Federal Reserve last week signaled a hawkish long-term path for interest rates. At the same time, as the S&P 500 has sharply pared its year-to-date gain, some investors are wondering if the market is close to a bottom. «At some point people will start to buy stocks for the fourth quarter, and the third-quarter selling might be almost done,» said Peter Tuz, president of Chase Investment Counsel. «At a certain level, people are going to get back in thinking the fourth quarter might be a pretty good one.» The Dow Jones Industrial Average fell 68.61 points, or 0.2%, to 33,550.27, the S&P 500 gained 0.98 points, or 0.02%, at 4,274.51 and the Nasdaq Composite rose 29.24 points, or 0.22%, to 13,092.85. During the session, the S&P 500 rose as much as 0.4% and fell as much as 0.8% before paring losses. Among S&P 500 sectors, the rate-sensitive utilities group fell most, dropping 1.9%.

Oil prices rose in early Asian trade on Thursday after surging to the highest settlement in 2023 in the previous session as a steep drop in U.S. crude stocks added to worries of tight global supplies. Brent crude futures climbed 16 cents to $96.71 a barrel by 0001 GMT.

Gold edged up on Thursday but hovered near a more than six-month low hit in the last session, as the dollar and Treasury yields held at elevated levels, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate path. FUNDAMENTALS * Spot gold was up 0.1% to $1,876.89 per ounce by 0040 GMT, after shedding 1.4%, its biggest daily decline in two months, on Wednesday.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Citing sources, the news agency stated that Vedanta Ltd.’s parent, Vedanta Resources, will remain the holding company. However, deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made.

Reuters that production at the division had also been affected, adding the extent of the impact was being analyzed. Currently, the carmaker is grappling with lower production at its all-electric Zwickau plant where muted demand for battery-powered vehicles may change a long-standing three-shift system. Volkswagen said there had been an unspecified "IT malfunction of network components" at its site in Wolfsburg, Germany, its global headquarters, Reuters reported.

Vedanta shares tumbled 6.9% in Wednesday's trading after rating firm Moody's downgraded the corporate family rating (CFR) of UK-based parent Vedanta Resources. Analysts said concerns over the group's debt burden and volatile metal prices due to global headwinds could weigh down the stock in the near term. The stock closed at ₹208.95 on the BSE on Wednesday, after hitting a 52-week low of ₹208. «Vedanta Resources has been struggling to refinance its upcoming debt maturities worth $2 billion maturing during the next year,» said Jayesh Bhanushali, lead-research at IIFL.

The price of Bitcoin has held steady this week even as stocks have tumbled, a divergence that some analysts say could signal more pain ahead for the cryptocurrency market.

Officials say the Amazon rainforest in Brazil is facing a severe drought that may affect around 500,000 people by the end of the year

ChatGPT has delivered a shocking verdict on the Bitcoin price as brittle volatility creeps back into the market, and high-yielding coin offerings like Bitcoin Minetrix begin to loom large as more attractive alternatives for crypto traders.

₹7,801 per bbl, having swung between ₹7,568 and ₹7,822 per bbl during the session so far, against a previous close of ₹7,543 per barrel. US crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, according to US government data.

NEW DELHI : India may allow exports of another 50,000 tonnes of non-basmati white rice to Singapore under humanitarian operations, making an exception for one of its key diplomatic partners, two government officials said. India recently permitted limited exports of the rice variety, which is currently under the prohibited category, to the UAE and last month to Bhutan, Mauritius and Singapore. These countries appealed to New Delhi to resume rice exports following India’s decision to suspend non-basmati shipments on 20 July to keep prices in check.

By Bansari Mayur Kamdar and Sruthi Shankar

Just 24 hours after listing on top-tier centralized exchanges OKX and Huobi, Wall Street Memes ($WSM) has soared into the ranks of the top meme coins.

Nifty on Wednesday formed a bullish reversal pattern near the 50-day SMA (simple moving average), which indicated strong possibility of fresh uptrend rally from the current levels. For the traders now, 19630 would act as a key support level. Above which, the market could continue the positive momentum till 19800-19825.

(Reuters) — Shares of Faraday Future Intelligent Electric slumped in premarket trading on Wednesday, after the cash-strapped electric-vehicle company announced plans to raise up to $90 million through a stock offering.

On the BSE, Ganga Pharmaceutical(down 19.95 per cent), Sakuma Exports(down 18.15 per cent), O P Chains Ltd.(down 16.00 per cent), New Light Apparels(down 15.99 per cent) and Alacrity Sec(down 13.97 per cent) stood among the top losers in today's trade. In the Nifty pack, 31 stocks closed in the green, while 19 stocks ended in the red.

Investing.com -- Stock futures point higher, suggesting a rebound for Wall Street's main indices following a day of declines on Tuesday. Elsewhere, the U.S. Senate makes headway on a bipartisan measure to avert a government shutdown that is now only days away, while Hollywood's writers guild votes to end a long-standing strike.

Investing.com — The U.S. dollar steadied Wednesday near to new 10-month highs on worries of higher U.S. interest rates, while the euro and sterling fell to six-month lows.

By Giuseppe Fonte and Gavin Jones

A partial U.S. government shutdown seems to be looming and global economic ructions are being heard again, but gold isn’t catching the usual safe-haven bid because ‘King Dollar’ isn’t allowing it.

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances.