Target Financial News

Entering the $40,000 range in its recent upward trajectory, Bitcoin surged to $44,000, surpassing the ascending channel established at the start of 2023.

RBI Governor Shaktikanta Das said that notwithstanding the progress made on lowering inflation, the regulator’s 4% target was yet to be reached. The Reserve Bank kept its inflation forecast unchanged, projecting CPI-based inflation at 5.4% for FY24.

Nintendo has canceled an upcoming video game event and postponed several others because of persistent threats to the company, its workers and players

By Howard Schneider

Bernstein is promoting short Tesla (NASDAQ:TSLA) stock as its “best idea for 2024,” with their analysts seeing nearly 40% downside risk from current levels.

Investing.com — Lululemon Athletica (NASDAQ:LULU) reported fiscal third-quarter results that topped Wall Street estimates, but the athletic apparel maker's revenue guidance for the holiday season quarter fell short of estimates.

(Updated — December 8, 2023 5:39 AM EST)

Gold prices hit another record high this week after a roaring 2023, and a combination of geopolitical tensions and continued central bank buying should see demand remain resilient next year, according to the World Gold Council.

At the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting on December 08, 2023, the RBI Governor Shaktikanta Das announced the MPC’s decision to maintain the repo rate at 6.5 per cent. After a three-day bi-monthly meeting, the committee emphasized its dedication to maintaining its existing policy stance. It was evident from the announcement that the RBI has no intent to withdraw its accommodation stance regarding its decision on repo rates. 

Can the U.S. economy achieve a much-hyped “soft landing”

Axis Mutual Fund announced the launch of the 'Axis US Treasury Dynamic Bond ETF Fund of Fund'. Benchmarked against the Bloomberg US Intermediate Treasury TRI, the primary investment objective of the scheme is to provide regular income by investing in units of overseas ETFs where the investment mandate is to invest in US treasury securities across duration. The fund will be managed by Vinayak Jayanath. The new fund offer (NFO) is set to open for subscription on December 12, and will close on December 19. The scheme will predominantly follow an active investment strategy for investments in the overseas mutual funds. The fund is designed to dynamically adjust to market fluctuations, aiming to capitalize on the expected yields and minimize risks. This fund has the potential to be an ideal addition for those looking to diversify their portfolio for international exposure. This dynamic management approach allows the fund to adapt to changing macroeconomic conditions, targeting both capital appreciation and income generation opportunities.

RBI has been holding rates since February. Here 11 mutual fund managers explain the policy for investors. Mahendra Jajoo, CIO Fixed Income, Mirae Asset MF In line with market consensus, MPC conveyed a balanced approach with keeping key policy rates as well as stance unchanged considering ebbing inflationary pressures globally but still emphasising on the need for policy to be actively disinflationary. The pleasant surprise was a significant revision upwards in FY24 growth projections by 50 bps to 7%. Inflation projection for FY 24 remains unchanged at 5.4% but that for Q2FY25 is projected at 4%. Market will feel somewhat relieved on the suggestion that with liquidity turning in deficit on its own accord, OMO operations may not be needed in the immediate term.

Stocks extended gains to fresh record highs this week, as the local election results are seen diminishing risk of political upheaval in national polls next year. The NSE Nifty 50 Index is up 16% so far this year, outperforming most Asian peers as investors bet on strong earnings growth and improvement in domestic consumption as well as the likelihood of Modi winning a third term. Common futures trades by overseas investors target the Nifty 50 and Nifty Bank Index, among others.

Trinamool Congress leader in Lok Sabha Sudip Bandyopadhyay Friday described the Ethics Committee's recommendation to expel party MP Mahua Moitra in a «cash-for-query» allegation as «political vendetta» and claimed that it was aimed at stopping her from raising issues against the Adani Group. Bandyopadhyay said he had a one-on-one meeting with Lok Sabha Speaker Om Birla, who informed him that the report would be tabled along with a resolution.

Inflation’s “volatility’” is keeping the Bank of Canada cautious about the future path for interest rate decisions, according to a senior central bank official.

Canadian companies are now paying more than $1 million in ransomware attacks, according to a new study.

RBI MPC meeting outcome: In 5th monetary policy meeting of teh financial year 2023-24, the Reserve Bank of India (RBI) has decided to keep repo rate unchanged at 6.50 per cent. In fact, the RBI raised its gross domestic product (GDP) forecast for current fiscal by 50 bps, which has gone down well among markets and economic experts.

Bank of India (RBI) kept the repo rate unchanged at 6.5 per cent and maintained the policy stance of 'withdrawal of accommodation' on Friday, December 8. The standing deposit facility (SDF) rate remains at 6.25 per cent and the marginal standing facility (MSF) rate and the bank rate at 6.75 per cent. Besides, the RBI raised its real GDP growth projection for FY24 to 7 per cent from 6.5 per cent earlier with Q3 GDP at 6.5 per cent (against the estimates of 6 per cent earlier) and Q4 GDP at 6 per cent (against the estimates of 5.7 per cent earlier).

RBI Monetary Policy (MPC) Meet: Reserve Bank of India Governor Shaktikanta Das made two announcements related to the Unified Payments Interface (UPI) in India, one specific and one with broader ramifications for the online payments ecosystem. The first announcement Das said is for "enhancing UPI transaction limit for specific categories" such as payments to hospitals and educational institutions from the current ₹1 lakh to ₹5 lakh. "The limit for various categories of UPI transactions has been reviewed from time to time.

Bengaluru Urban district found herself in trouble after her revenge plan backfired. The 32-year-old homemaker, upset with her husband for breaking her cell phone to prevent her from interacting with other men online, decided to send a hoax bomb threat message to the police from his mobile phone. The woman, identified as Ramya (name changed), was arrested on Monday but was later released on station bail. According to the police, Ramya was angry with her husband, Rama (name changed), for objecting to her close friendship with a man from Bihar whom she had met online. After her husband damaged her phone, Ramya contacted her friends using another phone and informed them about the incident.

But was it liquidity alone that drove this rally in stocks or were there fundamental reasons as well backing them? One possible way to find this out would be to see the earnings performance of the companies. Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. And guess what? About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24. The seven ninjas of Dalal Street are Kaynes Technology, Neuland Laboratories, Wonderla Holidays, Elecon Engineering Co, Safari Industries, Sonata Software, Sanghvi Movers, and Power Mech Projects.