INTEREST RATES
Home loan interest rates in August 2024: Banks offering cheapest interest rates for home loans up to Rs 75 lakh
Fixed rates are fixed for the duration of the loan, while floating rates fluctuate based on monetary policy and market conditions. Each has benefits and drawbacks when it comes to interest payments. Here is list of banks offering best home loan interest rate for loan amounts up to Rs 75 Lakh.
Wall Street ends down; investors brace for Nvidia report
U.S. stocks fell on Wednesday as investors awaited Nvidia's quarterly report, seen as a key event given the company's significant gains from the AI boom. Nvidia shares dipped, influencing other tech giants. Anticipation also surrounded the U.S. Federal Reserve's possible interest rate cut at its September meeting.
US Fed's rate cut signal lifts Nifty IT to record highs
Nifty's IT index jumped 1.6% to record levels on Wednesday, while the benchmark indices ended 0.1% higher in a rollercoaster trading session. LTI Mindtree jumped 6.31%, followed by Wipro which gained 3.71%. L&T Technology Services, Coforge, Infosys, Persistent and Mphasis were up 1.3-3.6%.
Wall Street ends up as investors focus on Nvidia results
The S&P 500 ended higher driven by anticipation of Nvidia's quarterly report. Nvidia's shares rose 1.5%, being the most-traded company, while heavyweight tech stocks were mixed. Meanwhile, economic data showed increased consumer confidence, influencing investor expectations for future interest rate cuts. Paramount Global and Tesla shares declined amid specific company news.
Fed cuts may send $1 trillion FX ‘avalanche’ to China, Jen says
The possibility of the Chinese yuan increasing in value is looking even more likely now that Federal Reserve Chairman Jerome Powell has signaled the US is ready to lower interest rates. However, the yuan's rise won't necessarily be immediate. It might happen later, when the US dollar weakens further and the US achieves a "soft landing" - that's when inflation slows down without causing a recession.
Muthoot Microfin secures $15 million from Triple Jump, nears $35 million deal with BlueOrchard
Muthoot Microfin has finalised a deal with Dutch development finance institution Triple Jump to raise $15 million in non-convertible debentures, while it is in advanced stage of discussions to raise another $35 million from Swiss impact investor BlueOrchard even as the microfinance sector is facing headwinds with symptoms of overheating visible in some pockets.
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Big movers on D-Street: What should investors do with Trent, Honasa Consumer and NIIT?
On Monday, equity indices surged nearly 1%, driven by optimism around potential US Federal Reserve interest rate cuts. Trent dropped 0.27%, Honasa Consumer soared 8%, and NIIT climbed nearly 20%. Analyst Avdhut Bagkar discussed upcoming projections and important support levels for these stocks when markets reopen today.
D-Street bulls Powell ahead on US Fed’s interest rate cut cues
India's Nifty and Sensex saw gains of over 0.75% spurred by Federal Reserve chairman Jerome Powell's comments on rate cuts. The Nifty closed above 25,000 for the first time in August. Gains were led by sectors like metals, IT, and realty, while the banking sector lagged due to domestic uncertainties.
As US rate cuts near, economic 'soft-landing' odds could dictate stock performance
Jerome Powell of the Federal Reserve signaled upcoming interest rate cuts, likely commencing with a 25 basis-point reduction in September. Investors are focusing on economic data like employment and inflation to gauge the stock market's future, especially amid high valuations and a crucial presidential race.
S&P 500 ends lower, weighed down by Nvidia dip
The S&P 500 declined on Monday, driven by Nvidia's 2.25% fall ahead of its quarterly report. The Nasdaq also fell, while gains in Caterpillar and American Express helped the Dow Jones finish slightly up. Investors awaited key inflation data, and Tesla shares dropped due to new Canadian tariffs on Chinese electric vehicles.
Asian stocks fluctuate as Nvidia earnings awaited: Markets wrap
Asian markets moved in narrow ranges following declines in tech giants dragging Wall Street down. Japanese and South Korean stocks turned slightly positive, with mild gains in Australia. Nvidia earnings, expected to be strong, could impact the market significantly. The Fed’s potential rate cuts and China’s trade tensions with Canada are also under scrutiny.
Sensex gains 700 points; Nifty reclaims 25K as Powell's dovish remarks uplift investor mood
The Sensex and Nifty50 rose on Monday, buoyed by gains in financial and IT stocks after U.S. Federal Reserve Chair Jerome Powell hinted at upcoming interest rate cuts. Major gainers included Tech Mahindra and TCS, while sectors such as IT and Financial Services saw growth. Conversely, FMCG and Pharma sectors experienced declines.
The time has come for a Powell booster
Indian equities could see a boost early this week, inspired by Wall Street's gains after US Federal Reserve chairman Jerome Powell hinted at upcoming interest rate cuts. The potential easing of rates may encourage foreign investments in emerging markets like India, which have seen a cautious approach from investors recently.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian stock markets gained for two consecutive weeks, reflecting positive cues from the U.S. where Fed Chair Powell suggested upcoming rate cuts. Market sentiment was bolstered by expectations of economic softening. The rupee weakened, oil prices increased, and foreign investors became net buyers, indicating market optimism.
Learn With ETMarkets: Mastering interest rate volatility; advanced strategies for portfolio management
Hedging, utilizing financial derivatives like options and futures, is crucial for mitigating risks stemming from interest rate shifts and market volatility. By locking in prices and limiting potential losses, these instruments can safeguard portfolio stability. For example, interest rate futures provide a hedge against rising interest rates, while equity options offer protection when stock prices fall.
Trading in Asian markets is mixed and muted ahead of a key Fed chair speech
Asian markets experienced mixed trading as investors looked forward to guidance from Federal Reserve Chair Jerome Powell on possible rate cuts. Japan's Nikkei 225 rose slightly, while stocks in Australia and South Korea saw minor losses. U.S. markets also faced declines amid mixed economic signals, with Powell's upcoming speech in focus.
Wall St Week Ahead: 'Super Bowl' Nvidia earnings stand to test searing AI trade
Nvidia's upcoming earnings report could impact U.S. stock markets, which have recovered from recent losses. The company's stock has surged 150% this year, heavily influencing the S&P 500's performance. Investors await guidance on future AI investments to gauge market direction during a historically volatile period in September.
Oil climbs with U.S. Federal Reserve pivot
Both benchmarks hit their lowest since early January this week, after the U.S. government sharply lowered its estimate of jobs added by employers this year through March, raising fears of a possible recession.
Powell at Jackson Hole: 'The time has come' for the Fed to begin reducing interest rates soon
Federal Reserve Chair Jerome Powell's recent remarks signal upcoming interest rate cuts, with diminished inflation risks and a cooling labour market. Powell emphasized that future rate cuts would depend on economic data, aligning with the Fed's previous indications. Markets and analysts are now anticipating policy easing at upcoming meetings. Despite signalling that rate cuts may be on the horizon, Powell stressed in his Jackson Hole address that the pace and timing of these cuts will be entirely guided by the incoming data.
Why Jackson Hole is the Fed's biggest shindig
Economists predict that Fed Chair Powell will hint at interest rate cuts starting in September, but won't be too specific due to an upcoming jobs report. The recent rise in unemployment has made officials cautious, as they want to assess if the job market is truly weakening before committing to any action.
With Fed rate cut set, Powell's Jackson Hole talk could turn to the future
Wyoming, - U.S. economic data is giving the Federal Reserve the green light to cut interest rates, financial markets are aligned for the first move, and the central bank all but gave the game away on Wednesday when a readout of its July meeting showed a "vast majority" of policymakers agreed the policy easing likely would begin next month.
Market is pricing in too many Fed rate cuts, says El-Erian
Mohamed El-Erian suggests traders are overestimating the likelihood of aggressive Federal Reserve rate cuts by the year's end. He believes that a more realistic expectation is a 75-basis-point cut. The market anticipates up to 100 basis points in cuts, but the Fed's decision at their Jackson Hole symposium remains crucial.
What to look for at Fed's Jackson Hole symposium
Central bankers from around the world fly into Jackson Hole, Wyoming, this week to attend what has become the globe's premier economic gathering, the Kansas City Federal Reserve's annual symposium in Grand Teton National Park.
Most Fed officials favour a rate cut in September if inflation continues to cool
Federal Reserve officials leaned towards reducing the benchmark interest rate in September, assuming inflation keeps declining. Minutes from the July meeting indicated likely policy easing, with Chair Jerome Powell expected to provide more details in an upcoming speech. Recent economic data presents a mixed picture, affecting trader expectations and economic sentiment.
Wall St ends higher as Fed minutes, jobs data firm rate-cut hopes
On Wednesday, U.S. stocks saw modest gains as investors reacted to a major payroll data revision and awaited minutes from the latest Federal Reserve meeting. The Fed is likely to cut rates in September. Stocks of Target and TJX increased due to strong forecasts, while Macy's shares fell after lowering its sales forecast.
Fed steaming toward September rate cut, minutes from meeting show
The Federal Reserve signaled a potential interest rate cut in September following a significant majority of officials supporting such a move at the July meeting. With increasing unemployment and easing inflation, financial markets anticipate a series of rate cuts. The decision may be finalized depending on incoming economic data and job market performance.
Target raises 2024 profit forecast after price cuts boost quarterly sales, shares up 16%
Target raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year, driven by price cuts that attracted more shoppers to its stores.
South Korean shares start week lower ahead of BOK rate decision, Powell's speech
South Korean stocks fell on Monday ahead of key monetary policy updates from the U.S. Federal Reserve and Bank of Korea. The KOSPI index dropped 0.44%, led by losses in major chipmakers such as Samsung Electronics and SK Hynix. Foreign investors sold shares worth 174.7 billion won, while certain e-commerce and biopharmaceutical stocks showed gains.
Asia shares, gold underpinned by rate cut hopes
Asian stocks paused after their best week in nine months, bolstered by hopes of a U.S. recession being avoided and cooling inflation signaling potential interest rate cuts. Gold surpassed $2,500 an ounce, and the dollar dipped. Fed officials hinted at easing policies, driving S&P 500 futures up 0.2% and Nasdaq futures 0.3%.
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