ECONOMIC UPDATE
US Secretary of State Rubio warned Trump of Jensen Huang's ties to alleged Chinese spy: Report
Amid rising concerns, Nvidia's board is scrutinizing CEO Jensen Huang due to alleged espionage tied to his connection with Alice Huang, a businesswoman from China. US Secretary of State Marco Rubio previously cautioned about the implications of their association. It has come to light that Alice Huang's firm could be involved in unlawful smuggling of Nvidia products. However, Nvidia reassured that its operations will remain unaffected during this inquiry.
Trading setup for the day: Gift Nifty signals positive start to Muhurat Trading
Diwali Muhurat Trading Setup: Bechmark Nifty experienced a significant increase, closing at 25,030 on Friday as markets opened positively. Investors showed optimism ahead of a special trading session on Diwali, scheduled for Sunday. Foreign portfolio investors were net buyers, contributing substantially to market growth, while domestic institutions were net sellers. The Indian rupee appreciated against the US dollar, aided by favorable market conditions.
NY Fed's John Williams flags need to gather more information on inflation risks before rate decisions
Federal Reserve officials John Williams and Alberto Musalem have flagged persistent inflation risks, with rapid AI infrastructure investment potentially adding to price pressures. Williams backed the need for more economic data before determining monetary policy, while Musalem warned that policymakers must address current inflation rather than wait for future AI-driven productivity gains.
Federal Reserve rate hike bets strengthen as US jobs growth beats estimates
Stronger than expected US jobs growth has revived expectations of a December Federal Reserve rate hike, with employers adding 165,000 jobs in October against estimates of 65,000. The unemployment rate fell to 4.1%, while markets raised the probability of a quarter point hike to 85% and brought forward expectations of another increase.
US stocks today: Nasdaq rebounds as chip stocks recover from steep losses, rate fears persist
US stocks rebound as chipmakers recover from Thursday's steep AI-led selloff, lifting the Nasdaq 1.73%. Nvidia, AMD, Intel and Micron lead the recovery, while stronger-than-expected October jobs data revive concerns over a December Fed rate hike. Airbnb rallies after raising its full-year revenue growth forecast, while Atlassian shares decline.
Travomint parent SNVA Traveltech files updated draft papers with Sebi for public offering
SNVA Traveltech, parent of online travel platform Travomint, has filed updated IPO papers with SEBI for an entirely offer-for-sale issue of 12.75 crore shares. FY26 revenue rose 58.1%, while net profit jumped 73.7% year-on-year.
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4x Return: How buying 1 gram of gold every Dhanteras for 21 years built wealth
Over the past 21 years, investing in gold and silver each Dhanteras has proven to be a wise strategy for wealth enhancement. An initial investment of Rs 76,246 in gold has appreciated to Rs 3,02,400, while silver investment has surged from Rs 1,05,329 to Rs 3,94,800. This trend underscores the importance of steadfast and systematic investing, yielding favorable results despite the ups and downs of the market.
Canada plans to welcome up to 622,000 new permanent residents by 2027 under the new immigration plan
Canada plans to grant permanent residence to up to 622,000 people by the end of 2027 through a combination of new admissions and measures to transition temporary residents to permanent status. The government has earmarked up to 200,000 places for temporary residents already in Canada, while its latest Immigration Levels Plan sets a target of up to 422,000 new permanent resident admissions in 2027.
Kalyan, Titan, other Jewellery stocks rally up to 5% on Dhanteras 2026. How is yellow metal placed this festive season?
Jewellery stocks rallied ahead of Dhanteras 2026 as investors anticipated stronger precious metal demand. Meanwhile, brokerages see opportunities in gold and silver following their recent corrections, with Axis Securities and Religare Broking outlining accumulation ranges, price targets and key support levels.
OpenAI kicks off charm offensive to change voters' view of data centers
Stunning victories by Democrats in US midterm elections this week have been interpreted by many as Americans repudiating tech industry plans to build data centers across the country.
Fed's Beth Hammack and Thomas Barkin favour gradual rate hikes as inflation stays high
Two officials from the Federal Reserve have supported modest and steady interest rate increases to combat high inflation. They believe these adjustments should minimize disruptions for households, businesses, and financial markets. The Fed has left interest rates unchanged recently, with discussions ongoing about future hikes in December and early next year. The political landscape has shifted following the midterm elections, potentially changing price pressures in the economy.
Stock markets down today: Dow Jones plunges 1,753 points, S&P 500 drops 4% and Nasdaq enters correction - why Wall Street reversed its post-election rally
Stock markets down today: Wall Street's post-election rally quickly turned into a major sell-off as the Dow plunged 1,753 points and the Nasdaq entered correction territory. Fears that Democratic victories could slow AI data-center expansion triggered heavy losses in Nvidia, AMD, Micron and other technology stocks, wiping out Wednesday's gains.
Emerging markets lose $33.8 billion in October as investors flee Asian stocks
October witnessed an alarming withdrawal of $33.8 billion by foreign investors from emerging markets, the largest since March. Almost all of this outflow consisted of equities, severely impacting Taiwan. While Emerging Asia grappled with major losses, Latin America encountered minimal setbacks amid election related volatility. Additionally, Chinese stocks continued to see foreign sell offs for the fifth consecutive month.
US Bond Yields fall after midterm election 2026 results: Why are 10-year, 30-year, 2-year treasury notes down?
US Treasuries were down after Democrats gained control of both the Senate and House with the election results also raising the prospect of gridlock between the US Congress and Donald Trump's White House.
Democrats’ Senate win could shield Federal Reserve from Trump’s influence, but risks persist
Democrats’ midterm victory could strengthen the Federal Reserve’s independence by limiting President Donald Trump’s ability to appoint allies to its board. A Democrat controlled Senate could also intensify scrutiny of Fed Chair Kevin Warsh, with Elizabeth Warren likely to lead the Senate Banking Committee and challenge the administration’s banking reforms.
US stocks today: US stocks rally after Democrats' midterm sweep as AI infrastructure stocks slide
US stocks rallied after Democrats secured control of both chambers of Congress in the midterm elections, easing concerns over major policy shifts. The Dow, S&P 500 and Nasdaq advanced, while data centre stocks declined amid AI regulation concerns. AMD gained on its upbeat 2027 growth forecast, while clean energy stocks surged.
US stock market stages big rally today: Why is Dow Jones surging? Dow jumps 1,100 points as S&P 500 and Nasdaq turn green, with healthcare stocks at the centre
US stock market today: US stocks rallied sharply on Wednesday after Democrats won control of Congress. The Dow Jones jumped 1,143 points, while the S&P 500 and Nasdaq also posted strong gains. Healthcare stocks attracted fresh buying, with Molina Healthcare, Centene and HCA Healthcare rising around 6% to 7%. Amazon and solar stocks also climbed, while Nvidia shares moved lower.
Sebi initiates action against 8 investment advisers over non-payment of renewal fees
SEBI has initiated proceedings against eight registered investment advisers for failing to pay mandatory renewal fees. The defaults span 2018 to 2024, with the regulator seeking explanations and warning of possible suspension or cancellation of registrations.
Prediction markets get Democratic win right, with a few surprises
Prediction markets provided insights during the US midterm elections, with $1.48 billion wagered on the outcomes. Democrats gained control of both the Senate and House of Representatives after delivering a rebuke to Donald Trump. Despite some accurate forecasts, notable surprises emerged, such as Annie Andrews' victory in South Carolina against expectations. Kalshi and Polymarket reflected varying probabilities, emphasizing the predictive capabilities of betting markets.
Market wrap: BEL, Adani Ent, TCS, HCL Tech top gainers and losers on Nifty and Sensex on Wednesday
Indian equity markets advanced for the fifth consecutive session as easing crude oil prices and US-Iran diplomatic hopes boosted sentiment. Nifty gained 150 points, while Sensex rose 383 points, led by realty, metal and consumer durables stocks.
US midterm elections 2026: Key takeaways from the polls that will decide Trump's fate for next 2 years
Americans participated in midterm elections that will determine the control of Congress for the next two years. Voter exit polls indicated widespread discontent with President Trump's handling of the economy and high inflation rates. Many Americans are unhappy with the direction of the country and blame Trump's policies for their financial struggles. A significant majority expressed a desire for greater checks and balances on presidential power.
US Treasury yields climb as strong jobs data, midterm polls weigh; 10-year yield eyes 5% again
US Treasury yields climbed as stronger than expected September jobs data pointed to a resilient labour market, while investors awaited the midterm election results. Falling oil prices briefly eased pressure on bonds, but the move reversed as economic data reinforced growth expectations and uncertainty over future US fiscal policy kept investors cautious.
Guam governor results: Meet Tony Ada, former US Army serviceman poised to become Guam’s next governor
Republican candidate Tony Ada is poised to become Guam’s next governor after taking an early lead in the November 3 gubernatorial election alongside his running mate, E.J. Calvo. A former US Army serviceman who served from 1986 to 1993, Ada has also held several positions in Guam’s government, including serving in the territory’s legislature.
US midterms put Trump-era crypto boom and prediction markets at risk
The US midterm elections could threaten the crypto friendly regulatory environment created under President Donald Trump. A potential Democratic takeover of Congress may bring tighter oversight of digital assets and prediction markets, putting companies such as Coinbase, Strategy and Bullish under pressure as investors reassess the sector's regulatory outlook.
Karnataka seeks Rs 22,400 cr drought relief from Centre, urges early release
Karnataka's Deputy Chief Minister G Parameshwara has requested Rs 22,400.58 crore in drought relief from the Centre. He emphasizes the urgency for the Prime Minister and union ministers to approve the funds. The revised memorandum indicates that 226 taluks suffered from drought, affecting millions of hectares of crops. Parameshwara critiques the insufficient assistance rates and seeks updated data for beneficiaries.
US Treasury projects $618 billion borrowing in Q4, $800 billion in Q1 2027
The US Treasury is estimating federal borrowing will hit $618 billion in the last quarter of 2026, which is $10 billion less than previously thought. Despite anticipating lower cash flows, the Treasury projects borrowing of $800 billion in early 2027 as well. Market watchers are eager for upcoming announcements regarding Treasury auctions, as these might indicate changes in their bond issuance tactics.
El Nino could add to US inflation pressures in 2027, San Francisco Fed paper warns
A San Francisco Fed study warns the current strong El Niño could drive US inflation up by 1 percentage point in 2027, despite temporarily boosting jobs. With inflation already above the 2% target, the climate shock adds further pressure on the Fed to raise interest rates.
Ladakh Saffron: 22 grams harvested in four days, daily flower count nearly triples; LG VK Saxena shares update
A groundbreaking saffron farming initiative in Ladakh has yielded its first flowers in just 30 days, showcasing the viability of this spice in the region's climate. Remarkably, 22 grams of saffron were collected only four days after blooming. This venture not only aims to boost the local economy but also presents an exciting agricultural opportunity for farmers in Ladakh.
PC Jeweller shares drop 4% after Sebi sends warning letters to MD, company secretary. Here's why
PC Jeweller shares fell over 4% after Sebi issued warning letters to two senior executives for failing to maintain a structured digital database linked to a 2025 business update. The company said the warnings would have no financial or operational impact.
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