Search
  • Arun Goswami
  • 26 Dec, 2024
  • Mumbai

Stock market indexes lacked direction and momentum in thin trading as investors reviewed portfolios ahead of the close of the calendar year. 

The Sensex index decreased by 0.1% to 78,412.81, and the Nifty index rose by 0.01% to 23,742.75. 

On the Mumbai stock exchange, 128 stocks traded at their 52-week highs, and 51 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee eased to 85.28 against the U.S. dollar.

Indian Oil Corporation decreased 0.2% to ₹137.92, and the company said it plans to invest ₹61,000 crore to build a naphtha cracker project in Paradip, Odisha. 

Ola Electric Mobility Ltd. gained 1.4% to ₹95.36 after the company claimed its distribution network of stores has increased to 4,000 from 800 last month. 

Walchand Nagar Industries Ltd. rose 1% to ₹262.25 after the company received an order worth ₹45 crore from Flourine Korea Ltd. 

Max India Ltd. declined 1.2% to ₹276.40 after the diversified real estate and insurance company sold three floors in Max Towers located in Noida, Uttar Pradesh, for a total consideration of ₹105 crore. 

Bharat Petroleum Corporation advanced 0.7% to ₹294.25, and the company was deemed as the lowest bidder for NTPC's 150 MW solar power project. 

Ramkay Infrastructure Ltd. increased 2.9% to ₹621.15 after the company received an order worth ₹215 crore from Hyderabad Metropolitan Water Supply & Sewage Board. 

NALCO increased 2.2% to ₹218.15, and the company signed a coal mining agreement for two blocks in Odisha with the ministry of coal, increasing its annual coal production to 4 million or 40 lakh tons. 

NTPC Green Energy declined 4.8% to ₹126.70 after the one-month lock-up period for shareholders expired following the company's initial public offering. 

  • Barry Adams
  • 24 Dec, 2024
  • New York City

Stock market indexes retained an upward bias on Wall Street in a holiday-shortened week as investors reflect on solid gains in 2024. 

The S&P 500 index gained 0.2%, and the Nasdaq Composite advanced 0.3% in early trading amid continued rallies in tech and semiconductor stocks. 

In Monday's trading, the S&P 500 index gained 0.7%, the Nasdaq Composite advanced 1.0%, and market indexes rebounded from a 2% loss in the previous week. 

Benchmark indexes accelerated gains after the post-election results, driven in large part by the hopes of looser regulations and an easier business climate for large businesses in the energy, financial services, and tech sectors. 

However, investors are worried that higher tariffs on imported goods, especially from China, are going to contribute to inflationary forces, forcing the Federal Reserve to slow interest rate cuts in 2025. 

Investors are also overlooking the policy uncertainties of the incoming presidential administration, and key cabinet appointments are failing to inspire confidence, and top-tier and experienced professionals are avoiding joining the new administration. 

Investors are hoping that the Federal Reserve will deliver on its revised 50 basis points rate-cut estimate in 2025, but policymakers left the door open for a rate pivot if inflationary forces remain elevated. 

Consumer price inflation has slowed from its peak at 9.1% in June 2022, but prices are still rising from a higher base, forcing consumers to watch spending and curtail discretionary spending. 

For the year so far, as of Monday's close, the S&P 500 index has gained 26%, the Nasdaq Composite advanced 33.9%, and the Russell 2000 index increased 11.1%. 

President Donald Trump's second administration is going to be just as chaotic as the first one, and government shutdowns are more likely, and staff turnover is expected to remain near record high.

Trump stressed several times, while campaigning for his first and second candidacy, that he will eradicate the entire federal government debt by the end of his eight years in office. 

Despite Trump's campaign promises and extreme rhetoric, federal government debt is expected to surge to over $44 trillion, an increase of $8 trillion over the four years of administration, matching his record for the first time in the office.

Consumer price inflation has slowed from its peak at 9.1% in June 2022, but prices are still rising from a higher base, forcing consumers to watch spending and curtail discretionary spending. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.2% to 5,985.50, the Nasdaq Composite rose 0.4% to 19,845.81, and the Russell 2000 index decreased by 0.2% to 2,237.44. 

The yield on 2-year Treasury notes edged higher to 4.36%, 10-year Treasury notes inched up to 4.61%, and 30-year Treasury bonds increased to 4.80%.

WTI crude oil increased $0.58 to $69.62 a barrel, and natural gas prices edged up 7 cents to $3.72 a thermal unit.

Gold decreased by $2.74 to $2,612.55 an ounce, and silver fell by $0.10 to $29.57. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher by 0.06 to 108.14 and traded at a two-year high. 

 

U.S. Stock Movers 

American Airlines Group declined 0.7% to $17.12 after the Federal Aviation Administration confirmed that the carrier grounded all U.S. flights because of a technical glitch on one of the busiest travel days of the year. 

The airline lifted the halt around 8:00 a.m. ET, and about 26 flights were canceled across the nation, but more than a thousand flights were affected, scheduled to depart after 6:00 a.m. ET. 

  • Barry Adams
  • 24 Dec, 2024
  • New York City

Stock market indexes retained an upward bias on Wall Street in a holiday-shortened week as investors reflect on solid gains in 2024. 

The S&P 500 index gained 0.2%, and the Nasdaq Composite advanced 0.3% in early trading amid continued rallies in tech and semiconductor stocks. 

In Monday's trading, the S&P 500 index gained 0.7%, the Nasdaq Composite advanced 1.0%, and market indexes rebounded from a 2% loss in the previous week. 

Benchmark indexes accelerated gains after the post-election results, driven in large part by the hopes of looser regulations and an easier business climate for large businesses in the energy, financial services, and tech sectors. 

However, investors are worried that higher tariffs on imported goods, especially from China, are going to contribute to inflationary forces, forcing the Federal Reserve to slow interest rate cuts in 2025. 

Investors are also overlooking the policy uncertainties of the incoming presidential administration, and key cabinet appointments are failing to inspire confidence, and top-tier and experienced professionals are avoiding joining the new administration. 

Investors are hoping that the Federal Reserve will deliver on its revised 50 basis points rate-cut estimate in 2025, but policymakers left the door open for a rate pivot if inflationary forces remain elevated. 

Consumer price inflation has slowed from its peak at 9.1% in June 2022, but prices are still rising from a higher base, forcing consumers to watch spending and curtail discretionary spending. 

For the year so far, as of Monday's close, the S&P 500 index has gained 26%, the Nasdaq Composite advanced 33.9%, and the Russell 2000 index increased 11.1%. 

President Donald Trump's second administration is going to be just as chaotic as the first one, and government shutdowns are more likely, and staff turnover is expected to remain near record high.

Trump stressed several times, while campaigning for his first and second candidacy, that he will eradicate the entire federal government debt by the end of his eight years in office. 

Despite Trump's campaign promises and extreme rhetoric, federal government debt is expected to surge to over $44 trillion, an increase of $8 trillion over the four years of administration, matching his record for the first time in the office.

Consumer price inflation has slowed from its peak at 9.1% in June 2022, but prices are still rising from a higher base, forcing consumers to watch spending and curtail discretionary spending. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.2% to 5,985.50, the Nasdaq Composite rose 0.4% to 19,845.81, and the Russell 2000 index decreased by 0.2% to 2,237.44. 

The yield on 2-year Treasury notes edged higher to 4.36%, 10-year Treasury notes inched up to 4.61%, and 30-year Treasury bonds increased to 4.80%.

WTI crude oil increased $0.58 to $69.62 a barrel, and natural gas prices edged up 7 cents to $3.72 a thermal unit.

Gold decreased by $2.74 to $2,612.55 an ounce, and silver fell by $0.10 to $29.57. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher by 0.06 to 108.14 and traded at a two-year high. 

 

U.S. Stock Movers 

American Airlines Group declined 0.7% to $17.12 after the Federal Aviation Administration confirmed that the carrier grounded all U.S. flights because of a technical glitch on one of the busiest travel days of the year. 

The airline lifted the halt around 8:00 a.m. ET, and about 26 flights were canceled across the nation, but more than a thousand flights were affected, scheduled to depart after 6:00 a.m. ET. 

  • Bridgette Randall
  • 24 Dec, 2024
  • London

Stocks lacked direction, and investors stayed away in a holiday-shortened week amid persistent political uncertainties and a weakening economic backdrop in the Eurozone. 

Benchmark indexes in Paris and London gained 0.6% as financial markets closed earlier, and markets in Frankfurt and Milan remained on Christmas Eve. 

Financial markets in Paris, Milan, London, Frankfurt, and Madrid will remain closed on Wednesday and Thursday to celebrate Christmas. 

France's public debt increased to €3.3 trillion at the end of the third quarter, according to the latest data released by the statistical agency, INSEE. 

The public debt increased by €71.7 billion in the third quarter, following the increase of €69.0 billion in the previous quarter, and rose to 113.7% of gross domestic product. 

French government bonds were in focus after the newly appointed prime minister, Francois Bayrou, reiterated his government's commitment to cut the deficit. 

However, Bayrou's government lacks appointments from a wider spectrum of political parties, exposing the newly-formed minority government to a no-confidence vote in the near future. 

France is facing unprecedented political turmoil with four different prime ministers in one year, no annual financial budget, and several bills awaiting the approval of the Assemble Nationale. 

Germany is undergoing political chaos as far-right parties gain in popularity, and the next governing coalition is likely to be short-lived after the general elections in February. 

 

Europe Indexes and Yields

The CAC-40 index advanced by 0.6% to 7,314.89, and the FTSE 100 index inched higher by 0.6% to 8,149.23.

The yield on 10-year German bonds edged higher to 2.32%, French bonds eased to 3.13%, the UK gilts increased to 4.60%, and Italian bonds rose to 3.49%.

The euro edged lower to $1.039; the British pound inched up to $1.247; and the U.S. dollar strengthened to 90.05 Swiss cents.

Brent crude increased $0.70 to $73.32 a barrel, and the Dutch TTF natural gas rose by €0.18 to €45.95 per MWh. 

 

Europe Stock Movers

China-linked stocks were in focus in Paris amid rising expectations of fiscal stimulus measures and clear implementation plans in China. 

However, additional stimulus expectations may not be met soon, as the Chinese policymakers struggle to devise long-term bond offerings and await U.S. trade policy of the incoming presidential administration. 

China's finance ministry said it plans to increase spending in 2025 with more support for increasing consumption to boost economic growth.

LVMH added 0.7% to €632.90, Kering gained 0.4% to €236.40, and Hermes International SCA edged up a fraction to €2,303.0. 

Alstom SA decreased 0.05% to €21.83 after the French rail transportation engineering company said it won two orders worth €760 million from European customers in December. 

Vistry Group PLC dropped 16% to 546.17 pence after the UK-based home builder issued its third profit warning this year, citing delays in completing year-end transactions. 

Vistry Group has lost 39.6% in 2024, and the stock has fallen more than 60% from its high of 1,436 pence in early September. 

  • 24 Jan, 2025

  • 24 Jan, 2025