David Tepper expects stock valuations to fall due to interest rates and quantitative tightening. The Appaloosa boss says that financial conditions have worsened so valuations must drop too. Investors should expect stocks to command lower valuations than in past years, as financial conditions are a lot tighter today, David Tepper says. “It’s not that complicated…
US stocks traded mixed on Friday as a government shutdown looked increasingly likely. The session also closed out a dismal September, with the S&P 500 losing 5% to mark its worst month of 2023. US stocks traded mixed on Friday as investors initially cheered better-than-expected inflation news but grew jittery as a government shutdown appeared…
Wildfires and extreme heat have damaged olive harvests in Europe, leading to shortages of olive oil. To keep up with demand, olive oil is being imported from South America. In the past couple of years, extreme weather, wildfires and droughts have damaged olive tree harvests to the point where Europe is now almost out of…
Wall Street heavyweights Larry Fink and Bill Ackman see US Treasury yields reaching 5%. “That could happen in the very short-term,” Ackman said. “Like literally weeks.” Wall Street heavyweights Bill Ackman and Larry Fink see inflation remaining higher and expect US Treasury yields to soon hit 5%. Ackman, who is the CEO of Pershing Square…
French authorities are looking into billionaire Bernard Arnault’s dealings with a Russian businessman. Nikolai Sarkisov bought properties in 2018 through intermediary companies, but the buyer was Arnault, reports said. The Paris public prosecutor’s office said Friday that it is investigating billionaire LVMH CEO Bernard Arnault’s dealings with Russian businessman Nikolai Sarkisov, according to multiple media…
Russia and Saudi Arabia have made billions in additional oil revenue after their production cuts lifted prices. Russia likely generated an additional $2.8 billion over the past quarter, according to Energy Aspects data. Russia and Saudi Arabia have likely pulled billions in additional oil revenue after steep oil production cuts lifted crude prices. Russia has…
The National Association of Home Builders sounded the alarm on the risks of a government shutdown. If the National Flood Insurance Program isn’t renewed, 1,300 home sales will be affected daily. The federal government’s impending shutdown could significantly disrupt housing market activity, the National Association of Home Builders said on Tuesday. In a letter to…
US stocks jumped Friday as investors took in better-than-expected inflation. Core PCE, the Fed’s preferred inflation measure, rose 0.1% in August, below estimates of 0.2%. US stocks edged higher on Friday as markets digested cooler-than-expected inflation data. All three benchmark indexes rose higher at the open, with the Dow Jones Industrial Average gaining nearly points.…
Nifty50 went over 19,700 and settled at 19,638, gaining as much as 0.5% in day’s trade. The Midcap index outperformed the benchmarks and closed in the green for the week. FII selling, rising US bond yields, and surging crude oil prices have been pulling down markets in the last few sessions. Indian benchmark indices bounced…
Passive flows from foreign institutions account for roughly 42% ($6bn) of net FII inflows in the secondary markets in India so far in calendar year 2023. Blackrock is the largest foreign investor in India and 25% of its total assets under management in India come from its India dedicated exchange traded funds. Passive investors accounted…
