Weekly Financial News

United Auto Workers (UAW) union forces automobile manufacturers to temporarily lay off workers because of shortages of some materials. Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 201,000 for the week ended Sept. 16, the Labor Department said on Thursday.

sugar stocks and trades to avoid hoardings, the government on Thursday issued orders to mandatory disclose the stock position of sugar for traders, wholesaler, retailer, big Chain Retailer and processors of sugar on its portal (esugar.nic.in) of Department of Food and Public Distribution on every Monday of the week. «This mandatory weekly stock disclosure for these entities is another proactive step in the Government of India's efforts to maintain a balanced and fair sugar market. By preventing hoarding and speculation, GoI is aiming to ensure that sugar remains affordable for all consumers.

The S&P 500 (SPX) lost 0.2% last week following a sentiment reversal on Friday, when the index dropped 1.2%. This way, the S&P 500 fell below the short-term supporting trend line, which could invite more pressure in the near term.

The S&P 500 (SPX) lost 0.2% last week following a sentiment reversal on Friday, when the index dropped 1.2%. This way, the S&P 500 fell below the short-term supporting trend line, which could invite more pressure in the near term.

Stocks are slipping in afternoon trading on Wall Street but not enough to erase the market's gains for the week

₹7,534 per bbl, having swung between ₹7,417 and ₹7,568 per bbl during the session so far, against a previous close of ₹7,501 per barrel. -Earlier this month, oil producers Saudi Arabia and Russia extended their voluntary oil output cuts of a combined 1.3 million barrels per day (bpd) to the end of the year which resulted in a sharp surge in international crude prices - reaching a 10-month high peak. The supply concerns have pushed the Brent and WTI benchmarks to their highest levels since November.

The University of Michigan's preliminary reading of its Consumer Sentiment Index dropped to 67.7 this month from a final reading of 69.5 in August and below the forecast of 69.1 among economists polled by Reuters. However, consumers saw inflation lower on both a one-year and five-year basis. Earlier data from the Labor Department showed import prices increased 0.5% last month as fuel prices jumped, but underlying price pressures stayed subdued while a separate report from the New York Fed showed factory activity picked up in the state in September. «None of the data currently points to a recession.

Key Takeaways

Gold prices were on track for their second straight weekly decline on Friday as U.S. inflation readings for August reinforced market bets for further rate hikes by the Federal Reserve after a likely rate pause next week. FUNDAMENTALS Spot gold was steady at $1,910.85 per ounce by 0100 GMT. Bullion was on track for a weekly decline of 0.4% after having touched its lowest level since Aug.

Nifty's weekly series expires today, it was marked with long additions with an increase in price of 3.66% and increase in open interest (OI) by 8.12% where 8.61 lakh shares were added in OI, increasing from 106.06 lakh to 114.67 lakh shares as on Wednesday. The Nifty September series rollover stands at 12% with sentiment indicator Nifty Put Call Ratio (PCR) currently at 1.25, indicating a flat-to-positive movement for expiry. As for the Bank Nifty which had a weekly expiry on Wednesday, the series witnessed short covering with an increase in price of 3.87% and decrease in OI by 16% where there was shedding of over 4 lakh shares in OI, decreasing from 25.17 lakh to 21.15 lakh shares. The Bank Nifty August series rollover stands at 17%. Implied Volatility of Nifty ATM options for the current series is at 12.48%, while India Vix is at 11.63% both indicating a slightly higher Volatile movement on either side in expiry session compared to last weekly expiry, analyst Rajesh Palviya, Senior Vice President, Technical and Derivatives Research at Axis Securities said. Palviya said that the Nifty Put options OI distribution shows that 20,000 has highest OI concentration followed by 19,900 and 19,800 which may act as support for today's expiry and on the Call front 20,100 followed by 20,200 and 20,300 witnessed significant OI concentration and may act as resistance.

Coal India has rallied about 20% in a week, which triggered a breakout from a 5-year long corrective phase, and hit a fresh 52-week high in September.The breakout has opened room for the stock to head towards Rs 300 levels in 3-4 weeks, suggested experts.The stock rallied from Rs 236 on 1 September to Rs 282 recorded on 8 September, which translates into an upside of 19.5% in a week.The stock was largely consolidating in the last 3 months, but

S&P 500 (SPX) fell 1.3% last week after previously recording two consecutive weekly green candles. Nasdaq Composite Index (IXIC) dropped nearly 2% as investors were adding value amid fears that the Federal Reserve will keep higher interest rates for longer.

Investing.com — The news came as quietly as it could on a Friday afternoon and passed without any discernible impact. And understandably too: The U.S. oil rig count went up by one last week, after a drop of 127 over the past year.

Reliance Jio and Google Chrome celebrated their 7th and 15th anniversary, respectively. Moreover, ahead of the Apple Wonderlust event, there were several speculations related to the upcoming Apple devices. Here is a quick recap for you: Realme has launched the affordable Realme C51 smartphone with Android 13 and Realme UI T edition.

Don't ever fight liquidity, despite the first quarter earning season having hardly any positive surprises at sector or even at company levels, stock markets have been riding high back of flows which have been pouring in. With market breadth remaining positive in most trading sessions.

macroeconomic uncertainty. Oil producers Saudi Arabia and Russia extended their voluntary oil output cuts of a combined 1.3 million barrels per day (bpd) to the end of the year which resulted in a sharp surge in international crude prices - reaching a 10-month high peak earlier this week. Brent crude futures were up 53 cents to $90.45 a barrel, while US West Texas Intermediate crude (WTI) futures were up 39 cents at $87.26 a barrel, according to news agency Reuters.

To help you make best investment decisions, we have screened out all companies that have been awarded the highest score by Stock Reports Plus and clubbed it together with a ‘Strong Buy/Buy’ analysts’ recommendation as per Institutional Brokers' Estimate System (IBES).

Gold prices firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer.FUNDAMENTALS * Spot gold was up 0.2% at $1,922.87 per ounce, as of 0116 GMT, but set for a 0.8% weekly fall.

By Rae Wee

Investing.com-- Consolidation in oil markets continued in Asian trade on Friday, with prices falling further below 10-month peaks as a mix of profit taking, strength in the dollar and fears of an economic slowdown in major consumers weighed. 

By Yuka Obayashi