The Federal Open Market Committee (FOMC) decided to hold its key interest rate at 5.25 – 5.5% in September in a unanimous decision, according to its statement on Wednesday. This decision followed a 25-basis point rate increase in July, bringing the benchmark rate to its highest level in 22 years. The potential impact of more …
On Wednesday, the US dollar went up to its highest point in the past six months, even though it had previously been losing value. This happened because recent data from the US showed that businesses providing services, like restaurants and shops, did surprisingly well last month. More people ordered services, and businesses had to charge …
Renowned investor Michael Burry, famous for his accurate prediction of the 2008 housing crash, is once again making headlines with his bearish outlook on the market. Recent securities filings have revealed that Burry’s company, Scion Asset Management, has purchased significant put options against the S&P 500 and the Nasdaq 100 indexes. The put options, valued …
Fitch, one of the major independent rating agencies, took the unexpected step of downgrading the US government’s credit rating from AAA to AA+, drawing a strong reaction from the White House and surprising investors. This move occurred despite the resolution of the debt ceiling crisis two months prior. Fitch justified its decision by pointing to …
Meta officially unveiled a new app called Threads on Wednesday, aiming to provide a platform for real-time online conversations, which has long been Twitter’s primary selling point. Facebook has made various attempts to rival Twitter over the years, even going so far as to replicate key Twitter features such as hashtags and trending topics. However, …
Apple Inc achieved a significant milestone of becoming the first company to surpass a market capitalization of USD 3 trillion, highlighting the significant dominance of major technology companies in the equity markets. On June 30, Apple’s stock rose by 2.3%, contributing to a remarkable rally that has increased its market value by over USD 983 …
In 2023 US stocks have experienced gains driven by stronger-than-anticipated earnings and a recent surge in the technology sector. Despite concerns of a potential recession due to the Federal Reserve’s aggressive interest rate hikes, the S&P 500 defied expectations and technically entered into a Bull market this month. The S&P 500 Index is a widely …
Last week did not go well for Alphabet Inc – its stock price fell from $ 108.17 on 8th February to $95.01 on 10th February i.e. a fall of around 12% (including a 7% drop on Wednesday, 8th alone). But trouble has been brewing for Google for a few weeks now. Dark clouds appearing on …
As Russia’s financial restrictions have started affecting foreign investors, some of them have started exiting the country. On Tuesday, MSCI, the world’s leading index provider, decided to exclude Russia from its index. The rising concerns of investors are starting to show adverse effects on Russia but other emerging markets like India could benefit from it. …
India’s balancing act in the Ukraine crisis became more difficult today, as Russian President Vladimir Putin approved a military intervention into the neighboring country. Ambassador TS Tirumurti, India’s Permanent Representative to the UN, warned that the situation is in risk of “spiraling into a major catastrophe” during an emergency meeting of the UN Security Council …
