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🇺🇸 Markets on Tuesday
#DowJones -0.17%
#Nasdaq + 0.4%
S&P500 +0.05%

Apple rose to a fresh 52-week high 🚀

🇺🇸 Economic data released
👉 Job openings were higher in October compared to September. Job openings hit a total of 7.74 million, topping the Dow Jones estimate of 7.5 million

Federal Reserve’s policy meeting on Dec. 17-18
👉 Fed funds futures are currently pricing in a roughly 72% probability that the central bank lowers interest rates
Source: CME’s FedWatch Tool.

Other Assets
💲 Dollar Index at 106.4
🇺🇸 10 year yield at 4.23%
⛽️ Brent Crude +2% at 73.5$/barrel, ahead of OPEC+ meeting
🪙 Gold at $2,665/ounce
💸 Bitcoin at 95720$

Stock in extended trading
🚀 Salesforce +10%. Company posted fiscal third-quarter revenue that beat estimates
🚀 Marvell Technology (developer of integrated circuits) +10%. After issuing rosy guidance for the current quarter

What to track on Wednesday?
a. Economic Data
-ADP private payrolls report for November, which is expected to show growth of 163,000 positions
-S&P Global U.S. Services Purchasing Managers’ Index, factory orders and durable goods
b. On the Federal Reserve front
-Chair Jerome Powell will be speaking in New York in a moderated discussion Wednesday afternoon.
c. Earnings due Chewy, Dollar Tree & Foot Locker

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*🇮🇳India Daybook – Stocks in News*


*Sonata Software:* Company wins multi-million dollar modernization deal in Australia (Positive)

*Gopal Snacks:* Company launched a new product in its wafers category. (Positive)

*RCF:* Company received approval from the Ministry of Chemicals and Fertilizers to amend its Articles of Association. (Positive)

*Ashoka Buildcon:* Company bags order worth Rs 192.69 cr from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (Positive)

*Padam Cotton:* Company announced a 1:1 bonus share issue (Positive)

*Biocon:* Biocon Biologics partners with Diabetes Africa & St. Paul's Hospital to improve diabetes care in Ethiopia. (Positive)

*PCBL:* Andhra Pradesh government approves allotment of 116.62 acres of land in Naidupeta SEZ for the company (Positive)

*Vedanta:* Moody's upgrades Vedanta Resources' corporate family rating to B2 (Positive)

*Waaree Renewable:* Company gets order worth ₹1,233.5 crore for ground mount Solar PV project of 2012.47 MWp DC capacity (Positive)

*HUDCO:* Company signs Memorandum of Understanding with *NBCC* for development of 10 acres of land parcel in Noida (Positive)

*KEC International:* Company bags order worth ₹1,704 crore in transmission & distribution business from Power Grid Corp (Positive)

*Indo Amines:* Company announces NCLT approval for the amalgamation of Pious Engineering Pvt Ltd (Positive)

*Tulsyan NEC:* Company sold 3.5 acres of land in Bangalore for Rs 21.5 crore to FP Seating Pvt. Ltd. (Positive)

*Godrej properties:* Company seeks to sell 5.5% equity (1.54 crore shares) of the company via QIP to raise up to ₹4,000 crore, sources to CNBC. (Neutral)

*Bank of India:* Bank raises Rs 5,000 crore through long-term bonds issue (Neutral)

*Max India:* Company appointed Ms. Trapti as Company Secretary & Compliance Officer, effective Nov 27, 2024. (Neutral)

*JTEKT India:* Company received a Show Cause Notice from Haryana tax authorities demanding Rs 44.2 Cr in GST (Neutral)

*LIC:* Company gets GST demand, interest & penalty order of ₹529.6 crore for FY19-20 (Neutral)

*Bajaj Holdings:* Company acquired 0.1506% stake in Mphasis Ltd for Rs 66.43 Cr. (Neutral)

*Dr. Reddy's:* Company received fine notices from German authorities for its subsidiaries' delayed beneficial owner registration. (Neutral)

*Samrat Forgings:* Company received a show cause notice from GST authorities for Rs 11.44 Cr for FY20-21 (Neutral)

*Dhampur Bio:* Company acquired 100% of Sonitron Bio Organics Pvt. Ltd. (Neutral)

*ZF Commercial Vehicle:* ZF Group sold 4.3% stake in its Indian subsidiary, ZF Commercial Vehicle Control Systems India Ltd. (Neutral)

*ICICI Bank:* Company received revised GST demand orders totaling INR 39.6Cr from Bihar (Rs 25 lakhs and Maharashtra’s 37.8 Cr. (Neutral)

*Adani Green energy:* Adani Saur Urja incorporates wholly-owned arms AHE2L & AHE3L on November 27. (Neutral)

*Jet Airways:* NCLT Appoints Satish Kumar Gupta as The Liquidator Of Jet Airways (India) (Neutral)

*Axis Bank:* Clarifies on SEBI order restraining ACL from taking up any new assignments in capacity of merchant banker, arranger or underwriter. (Neutral)🌹

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*News Headlines from Business News Agencies:*

*Business Standard*

📝 IndiGo, Japan Airlines set to commence codeshare partnership next month
📝 UK regulator fines Barclays $51 mn after it drops Qatar dealings appeal
📝 Maruti Suzuki achieves milestone of exporting 3 million cars from India
📝 Bumper kharif production to lower food inflation in coming months: FinMin
📝 7% workforce growth expected in H2 driven by logistics, e-comm: Report
📝 Ekart's supply chain monetisation efforts achieve 8x growth in last 3 years
📝 GoM report on GST on health insurance to be put before Council: FinMin
📝 India strengthens GenAI startup market, funding up over threefold: Nasscom
📝 Coal India floats tender seeking bids from private players for e-auction
📝 MakeMyTrip launches multi-currency payment options to boost inbound tourism
📝 Jyoti Structures to raise up to Rs 500 cr via rights issue
📝 Blackstone to buy stakes in natgas producer EQT's pipelines for $3.5 bn

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🇺🇸 Markets on Monday
DowJones -0.1%
Nasdaq +0.6%
S&P500 +0.4%

🇺🇸 10 year yield at 4.42%
😎Dollar Index -0.5% at 106.2

Nasdaq outperforms
🚀 Tesla +5.6%, Bloomberg News report indicated that President-elect Donald Trump’s team is working on ways to ease regulation on self-driving vehicles
🚀 Apple +1.3% & Netflix +2.8%
🚀 Advanced Micro Devices +3%

Earnings seasons has been good
👉 93% of S&P 500 companies have reported results
👍 74% have topped earnings expectations
🔥 62% have surpassed revenue estimates
Source: FactSet

Big Movers
🚀 CVS Health +5% after agreeing to add four new board members
🚀 Super Micro Computer +16% following a Barron’s report that the AI server maker intends to file a plan for its annual report to avert a Nasdaq delisting

Other Asset Classes
🪙 Gold +1.8% to $2,608/ounce on softer dollar & Russia-Ukraine tensions

⛽️ Brent Crude +2% at 73$/barrel on news that crude production at Norway’s Johan Sverdrup oilfield had been halted. This added to earlier gains stemming from escalation of the Russia-Ukraine war

💸 Bitcoin at 90600$

In after hours trading
🙁 Trump Media & Technology Group -4%
On news that the company is in talks to buy cryptocurrency trading firm Bakkt

🇺🇸 Markets on Wednesday
#DowJones +0.11%
#Nasdaq -0.26%
S&P500 +0.02%

🇺🇸 Economic Data- October consumer price index accelerated to 2.6% annual rate

Expectations now higher than a 25 bps cut is coming in Dec 2024 👉 Odds for a quarter percentage point reduction to about 82% vs 59% a day earlier
Source: CME Group’s FedWatch

Economic Data to track
Thursday - Producer price index
Friday - Retail sales number

Key Speech - Fed Chair Jerome Powell is set to speak Thursday in Dallas, Texas

Other Asset Classes
💲 Dollar Index at 106.44, a 1 year high
🇺🇸 10 year yield at 4.45%
⛽️Brent Crude at 72$/barrel, weak on OPEC’s demand forecast cut
🪙 Gold at $2,580/ounce, 2 month low
💸 Bitcoin at 90400$, hit $93,000 intraday on hopes that Trump will make good on a slew of promises to the industry

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GIFTNifty now trading 50 points lower vs Nifty Futures' Tuesday's close, indicates a start with cuts for Indian market

US Markets take a breather post election 😫
Nasdaq & S&P 500 snapped five-day win streaks!

🇺🇸 Markets on Tuesday
DowJones -0.9%
Nasdaq -0.3%
S&P500 -0.09%
Russell 2000 -1.8% (small caps took a harder knock)

Trump trades come in for profit taking
👎 Tesla -6% after rallying 31% since Election Day
👎 Trump Media & Technology Group -9%

Dow-component Amgen -6%
👉Cantor Fitzgerald analyst Olivia Brayer note said data from the company’s phase 1 trial of MariTide suggests the experimental obesity drug may result in bone mineral density loss. Brayer added that patients may naturally see a loss in bone density when attempting to lose weight if they eat too little or don’t eat enough healthy food🤯

Other Asset Classes
⛽️ Brent Crude at $71.9/barrel. Crude weak on a stronger USD & disappointment over China’s latest stimulus plan

🇺🇸 Dollar index at 105.96, at a four-month high

🪙 Gold slips to 2 month low at $2,600/ounce
🥈 Silver at $30.8

🇺🇸 10 year yield at 4.42%

💸Bitcoin at 88375$ after hitting 90k $ mark earlier

Eco Data to track
Wednesday 👉 October’s CPI numbers
Thursday 👉 Producer price index
Friday 👉 Retail sales number

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Trump enthusiasm continues 🕺

US Markets on Monday
#DowJones +0.7%
#Nasdaq +0.06%
S&P500 +0.1%
Russell 2000 +1.47%

Dow higher aided by JPMorgan Chase & Goldman Sachs which gained 1% to 2%
Bank of America & Citigroup both closed +2%
Reason for banking rally 👉 Investors hope Trumps return to the White House could lead to easier regulation of the banking sector

Big Movers
🚀Tesla +9%
🚀Meme stock favorite GameStop +10%

Tech related stocks slipped
👎 Apple -2%
👎 Microsoft & Amazon -1% lower each

🔥 Bitcoin surged above $87,000, boosted by hopes of deregulation as well
🔥 Crypto related stocks Coinbase+20% & Mara Holdings +30%

Other Assets
Dollar index at 105.44
Brent Crude at 72$/barrel
Gold -2.5% at $2,618/ounce
10 year US yield at 4.34%

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Global-Market Insights 1/n
-S&P500 creates history, hits 6000-mark first time
-Trump rally continues in the US markets
-Dollar gets stronger
-Gold and crude were down
=====
Global-Market Insights 2/n
-Dow +260, S&P500 +22, Nasdaq +17
-US 10Y bond yield at 4.306%
-Dollar Index 104.89
-Gold at $2691
-Brent oil $73.87
-Weekly: S&P500 +4.66%, Nasdaq +5.74%, Dow +4.61%.
============
Global-Market Insights 3/3
-The question is if these moves are sustainable remains to be seen
-Momentum is extending lofty gains and the sharp post-Election Day moves have pushed major gauges near technically overbought territory

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StockMarkets on Monday
#DowJones +0.65%
#Nasdaq +0.26%
S&P500 +0.27%

⛽️Brent Crude slips 5% at 72$/barrel
Weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as was feared

Big Results on Tuesday
Before the 🔔 Pfizer & McDonald
After the 🔔 Alphabet, Snap, Reddit, Chipotle & Advanced Micro Devices

Economic Data this week
Wednesday 👉 Third-quarter gross domestic product
Thursday 👉 September personal consumption expenditures, or PCE, price index
Friday 👉 October jobs report

Massive Cues ahead!
Nov. 5th 👉U.S. presidential election
Nov 7th 👉Federal Reserve policy decision

Other Assets
🇺🇸 10 year yield at 4.26%
🪙 Gold at $2,742/ounce
💲 Dollar index at 104.3

🚀 Bitcoin topped 70k $ for 1st time since June
🕺Republican nominee and former president Donald Trump has been courting the crypto industry this year and presented himself as the pro-crypto candidate

🇺🇸 Markets on Thursday - mixed!
#DowJones -0.33%
#Nasdaq +0.76%.
S&P500 +0.2%, broke a 3-day losing streak

Big Movers
🏎 Tesla +22%
Reported stronger results & an optimistic sales growth forecast.
Tesla's best day since 2013, adding over $140 billion to its market capitalization

🤑Elon Musk added $26B to his fortune after Tesla’s stock surged. Investors though are raising concerns about Musk’s political activism & its impact on the company’s future

👎 IBM -6.2% after missing revenue expectations, dragged Dow Jones

Good Results
👍 UPS +5.3%
👍 Whirpool +11%
👍 Molina Healthcare +18%
👍 ServiceNow +5.4% following robust earnings driven by AI demand

👎 Boeing -1.2% after its machinists rejected a new labor contract & continued strike

🇺🇸 Economic Data: Weekly initial jobless claims fell to 227,000 vs 242,000 estimate

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*News Headlines from Business News Agencies :*

*Business Standard :*

📝 Nvidia's design flaw with Blackwell AI chips now fixed, says CEO Huang

📝 Heineken's premium beer volume rises 4.5% in Q2, Kingfisher Ultra chips in

📝 Tata AIG eyes 30% CAGR growth in retail health portfolio in next 3 years

📝 SBI Life Insurance Q2 results: Net profit rises 39% to Rs 529 crore

📝 Outbound M&A by Indian firms to rise on back of strong balance sheets: Citi

📝 Muthoot Finance raises $400 million via USD notes, oversubscribed 3.9x

📝 Hilton cuts 2024 revenue growth forecast on low consumer tourism spending

📝 Coca-Cola bets on rising soda demand to forecast surge in its revenue

📝 Uber Auto and Moto services to drive Rs 36k cr in economic activity in 2024

📝 UAE's sovereign wealth fund to invest $750 mn in debt of GMR Group

📝 Diesel consumption to rise 3%-4% in FY25, says Indian Oil chairman

📝 Dulux maker AkzoNobel misses Q3 forecasts as demand weakens in China


*Economic Times :*

📝 Jaguar Land Rover expands global innovation network; launches hub in India

📝 Lower APM gas allocation to raise cost of city gas cos by Rs 2-3/kg: Crisil

📝 Persistent Systems sees healthcare revenue growing to $1 billion in next 3-5 years

📝 India's food inflation likely to ease by end of FY25, highlights RBI MPC minutes

📝 TVS Motor to launch new EVs in current financial year

📝 Road ministry decides to double 'defect liability period' under EPC contracts to 10 years: Gadkari

📝 Garmin aims double-digit growth in India, expansion to e-commerce platforms

📝 Escorts Kubota to sell railway equipment biz to Sona Comstar for Rs 1,600 cr

📝 TVS Industrial & Logistics Parks to set up Rs 200-crore facility in MP

📝 Indian entertainment industry loses Rs 22,400 crore annually due to piracy: EY-IAMAI

📝 FIU slaps Rs 54L fine on Union Bank of India for multiple PMLA violations


*Mint :*

📝 JP Morgan Chase India appoints Pranav Chawda as CEO after RBI approval

📝 Godrej Properties Q2 profit jumps 5-fold to ₹335.21 cr on higher revenue

📝 TVS Motors Q2 results: Net profit rises 41% to ₹588 cr, revenue at ₹11,302 cr

📝 Jinesh Gopani, former Axis MF star, plots comeback with Taksh AIF

📝 Jio aims to export high-speed fixed wireless access internet as managed service

📝 Maruti Suzuki Swift Blitz Edition launched in India with enhanced features

📝 Finance ministry to take call on scrapping windfall tax on oil: Tarun Kapoor

📝 Montecarlo explores sale of nine road assets in $360 million deal

📝 Setback for Byju’s as SC restores insolvency case, raps NCLAT for overreach

📝 Zomato hikes platform fee to ₹10 amid festive season rush

📝 Paytm secures NPCI approval to onboard new UPI users

📝 Botree Software Launches MyDMS to Boost Rurban Market Growth

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