Lowe's Financial News

By Kevin Buckland

Investing.com-- Most Asian currencies kept to a tight range on Thursday, while the dollar edged lower as markets weighed stronger-than-expected inflation data against expectations that the Federal Reserve will keep rates unchanged next week. 

Samhi Hotels IPO: The initial public offering (IPO) of Samhi Hotels Limited has opened for subscription today and the book build issue will remain open for bidding till 18th September 2023. The company has fixed Samhi Hotels IPO price band at ₹119 to ₹126 per equity share and one lot of the publi coffer comprises 119 shares. The company aims to raise ₹1,370.10 crore from its public issue out of which ₹1,200 crore is aimed from issuance of fresh issues.

dollar hovered above a three-month low to the euro on Thursday as attention turned to the European Central Bank's rate-setting meeting later in the day, after U.S. inflation data failed to alter views for a Federal Reserve pause next week. The yen pulled away from near a 10-month trough to the dollar as a decline in long-term Treasury yields removed some support for the U.S.

Stocks that were in focus included names like NIIT, which rose 20%, PNB, which gained 8.5%, and Aarti Drugs, whose shares jumped 3% on Wednesday. Here's what Riches Vanara, Technical And Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.NIIT — BuyThe stock broke out of an ascending channel pattern and we have seen a stupendous move of 70% in the current week. On weekly charts we may see some pullback in price but a fresh high on the relative strength chart in comparison to nifty-50 and 14 period RSI depicting new highs for the stock in coming days. Hence we reckon buy rating for targets of 145 and 150 with stop below 130.PNB — BuyAfter breaking out of the symmetrical triangle pattern on the daily chart. Stock formed a darvas box and we have seen clean breakout from the same with higher than average volumes. New high on the relative strength chart in comparison to nifty-50 and 14 period RSI compliments the price action.

shares of Chinese electric vehicle (EV) makers fell on Thursday after the European Commission launched an investigation into Chinese subsidies for EVs, escalating tensions between Beijing and the EU. European Commission President Ursula von der Leyen announced the investigation in her annual address to lawmakers on Wednesday, saying: "Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies."Hong Kong shares of market leader BYD fell more than 3%.

Day trading guide for today: Despite weak global cues, Dalal Street ended higher on Wednesday. NSE Nifty finished above 20,000 levels for the first time ever, logging intraday gain of 76 points. Nifty closed at 20,070 levels whereas BSE Sensex surged 245 points and ended at 67,466 mark.

Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Megacap growth stocks Tesla, Meta Platforms, Microsoft and Amazon.com gained over 1% each.Apple dipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index climbed 0.9%, lifted as Ford Motor rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Stickiness in services inflation has kept alive prospects of a November hike.

Gold prices firmed on Thursday as the dollar and Treasury yields weakened after the U.S. inflation data cemented the case for a Federal Reserve rate pause next week, although bullion was not far from a near three-week lows seen in the previous session.FUNDAMENTALS * Spot gold added 0.3% to $1,912.09 per ounce by 0110 GMT, having hit its lowest level since Aug.

Some analysts who favor one or two indicators to forecast US recessions have had a rough year. The reliance on a generally robust predictor may yet prove its worth in the months ahead. But so far the months-long calls by some pundits that recession is near have been wrong, or at least premature.

Buy or sell stocks for today: Despite weak global market sentiments, key benchmark indices of the Indian stock market ended higher on Wednesday. NSE Nifty ended above 20,000 for the first time ever at 20,070 levels, logging an intraday gain of 76 points.

Home-grown renewable energy investor Lighthouse Infrastructure is preparing to raise more than $400 million for its energy transition strategy, scouring the country for more solar and wind power assets.

hedge fund. Glas Trust Co., the trustee representing lenders who had extended a loan of $1.2 billion to the world’s most valuable education technology startup in November 2021, told a Florida court on 7 September that Byju’s transferred $533 million to Camshaft Capital Fund, a Miami-based hedge fund, allegedly established by a 23-year-old with no training or experience in investing. The lenders also told the court that the official address of the hedge fund in its regulatory filings is a US restaurant chain, IHOP.

Investing.com-- Gold prices fell on Wednesday, coming under pressure from renewed strength in the dollar and yields as markets hunkered down before a key U.S. inflation reading due later in the day. 

Cetera Holdings this week said it was spending $1.2 billion to acquire the nearly 3,100 tax focused financial advisors at Avantax Inc., a clear indication that the valuations for broker-dealers and registered investment advisors are still climbing and no one knows how high they will go.

NEW DELHI : The stock of coal at mines and transit has increased 39% over last year, coal minister Pralhad Joshi said on Wednesday, amid concerns over stocks being too low to meet the power demand. Writing on X (formerly Twitter), the minister said state-owned Coal India Ltd’s production has increased 12.8% so far in the July-September quarter to 123.4 million tonnes. In the first quarter of the fiscal, its production stood at 175.5 million tonne, 9.8% higher compared to the corresponding period last fiscal.

Despite surging interest rates, there are few signs they are impeding economic activity or causing distress amongst borrowers. It may seem strange that higher rates are not proving troublesome for an economy with such a high amount of leverage. Don’t breathe a sigh of relief quite yet. There is often a delay, called the lag effect, between higher interest rates and economic weakness.   

Japanese Prime Minister Fumio Kishida has shuffled his Cabinet and key party posts to strengthen his position before a key party leadership vote next year, bringing in a new defense minister and the country’s first female foreign minister since 2002

Rwanda’s atomic energy board says it has signed a deal with a Canadian-German company to build its first small-scale nuclear reactor to test what the company claims is a new approach for nuclear fission

EU lawmakers have approved new rules requiring airlines to use more sustainable fuels across the bloc in a bid to help decarbonize the sector

The European Union is launching an investigation into subsidies that China provides to electric vehicle makers