Stocks outside of the tech sector fell broadly, with eight of the 11 sectors in the S&P 500 finishing in the red.
US Federal Reserve Governor Michelle Bowman said she sees a number of upside risks to the inflation outlook.
India’s debt servicing improved during this period, rising to 6.7 percent from 5.3 percent in the previous year.
The country’s foreign exchange to debt ratio improved to 97.4 percent in FY24 from 92.7 percent in the previous year.
A rally in the banking stocks pushed Nifty to hit another record - 34th time this year though a host of other sectors ended in the negative.
June 26, 2024 09:28
U.S. stocks closed mixed on Tuesday after a rebound in Nvidia Corp. shares helped the S&P 500 and Nasdaq Composite break their three-day losing streak while the Dow Jones Industrial Average suffered its worst day in nearly a month. Stocks outside of the tech sector fell broadly, with eight of the 11 sectors in the S&P 500 finishing in the red.
US Federal Reserve Governor Michelle Bowman said she sees a number of upside risks to the inflation outlook. Her colleague Lisa Cook said it will be appropriate to reduce rates “at some point,” adding that she expects inflation to improve gradually this year.
Investors are likely to keep buying into US stocks at the sign of any pullback as the Fed edges closer to reducing interest rates, according to Societe Generale SA, which anticipates the easing cycle will begin in early 2025.
India’s external debt ratio improved to the best level in 13 years in FY24, declining to 18.7 percent of the GDP from 19 percent in the previous year, according to data released by the Reserve Bank of India on June 25. India’s debt servicing improved during this period, rising to 6.7 percent from 5.3 percent in the previous year. The country’s foreign exchange to debt ratio improved to 97.4 percent in FY24 from 92.7 percent in the previous year.
US consumer confidence fell slightly in June and reflected the ongoing uncertainty among Americans about the future of the economy. The consumer-confidence index slipped to 100.4 this month from a revised 101.3 in May. Economists polled by the Wall Street Journal had forecast the index to register 100 in June.
Stocks in Asia were muted on Wednesday as Federal Reserve officials said they wanted more evidence of cooling inflation before lowering interest rates.
A rally in the banking stocks pushed Nifty to hit another record - 34th time this year though a host of other sectors ended in the negative. At close, Nifty was up 0.78% or 183.5 points at 23.721.3. Nifty broke out upwards and formed a long bull candle on June 25. It made a new high and closed near the intra day high. Nifty could now head towards 23960 while 23350 could offer support in the near term.
