US Stocks Climbing As Traders Bet On Rate-cut Hopes
Video Credit: Wochit News - Duration: 00:32s - Published
US Stocks Climbing As Traders Bet On Rate-cut Hopes
Stocks climbed on Friday as the growing prospect of a cut to US interest rates this month outweighed renewed tensions in the US-China trade war, an unexpected contraction in Singapore, and uninspiring Chinese trade data.
Federal Reserve Chair Jerome Powell told Congress that the central bank is largely in agreement that "more accommodative monetary policy may be appropriate." However, Trump accused China of "letting us down" by not purchasing US agricultural products as promised.
Federal Reserve Chairman Jerome Powell on Wednesday repeated his pledge to use a "full range of tools" to support the U.S. economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak, saying the economic path will depend significantly on the course of the virus.
The US Federal Reserve is expected to remain apolitical and stay out of the business of Congress. Even so, President Donald Trump has repeatedly jeered at Fed Chair Jerome Powell, even going so far as to call him 'an enemy of the state.' Nevertheless, Business Powell stuck his neck out in a Congressional hearing this week, calling for more government intervention in the economy.
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chairman Jerome Powell told Congress on Tuesday. Conway G. Gittens has more of his testimony.
Federal Reserve Chair Jerome Powell on Tuesday testified before the Senate Banking Committee and said that the U.S. economy appears to be entering the second phase of reopening assuming the virus remains under control.
The chief of Bihar police commented on the progress in the investigation into actor Sushant Singh Rajput's death. DGP Gupteshwar Pandey said that the probe team visiting Mumbai was yet to receive important documents like forensic and autopsy reports from Maharashtra police. He added that he's sure that Mumbai cops will cooperate in the probe and the case will move further when such information and documents are received. A day earlier, Bihar deputy CM Sushil Kumar Modi had alleged that Maharashtra government was under pressure from a Congress-backed 'Bollywood mafia' to let those involved in the Sushant case go scot-free. The Bihar police is also looking for Siddharth Pithani, Sushant's flatmate, who had earlier written to the Mumbai police that the late actor's family was pressurising him to give a statement against Rhea Chakraborty. Sushant Singh was found dead at his Mumbai house on June 14. His father has accused his girlfriend Rhea of wrongfully confining him and also taking crores of Rupees from him.
Credit: HT Digital Content Duration: 03:11Published
Congress leader PC Sharma on August 01 said that he has tested positive for coronavirus. In a self-made video, the former minister in Kamal Nath government in Madhya Pradesh, said, "I have tested positive for COVID-19. I am healthy for now and undergoing medical treatment at Chirayu Hospital. I appeal to all who met me to get tested and quarantine themselves."
According to CNN, Democratic Presidential Candidate Joe Biden has started to narrow down his personal list of potential running mates. A handful of women remain in consideration for Biden's VP spot. Biden allies, members of Congress, and top donors, and those close to the vetting process says that California Rep. Karen Bass is believed to be part of the list. Bass is also a 66-year-old chair of the Congressional Black Caucus.
The BJP is gunning for the resignation of the Rajasthan Speaker after a video of him discussing the political situation in the state went viral. In the video, which cannot be independently verified by Hindustan Times, the Speaker is seen telling CM Gehlot's son Vaibhav that if 30 MLAs had left from the camp, the situation could have been serious. Sachin Pilot, who has rebelled against the Gehlot government, had initially claimed that he enjoys the support of 30 Congress MLAs. Later the Speaker had sent disqualification notices to Pilot and his 18 loyalist MLAs. BJP state chief Satish Poonia said that the video proves beyond doubt that the Speaker is supposed to be impartial but the video shows that he is leaning towards the Congress government. The video comes a day after the Speaker approached the Supreme Court against the Rajasthan High Court order which agreed to examine the constitutional validity of a provision in the anti-defection law and ordered status quo in the disqualification proceedings against Pilot and his loyalists. Watch the full video for all the details.
Credit: HT Digital Content Duration: 02:20Published
The mortal remains of Rajya Sabha MP and former Samajwadi Party leader Amar Singh being taken to a crematorium in Delhi. His mortal remains were taken from his Chhatarpur residence to a crematorium on August 03. Amar Singh, 64, passed away at a Singapore hospital on August 01. He was undergoing treatment at a hospital in Singapore for several months.
Union Defence Minister Rajnath Singh paid last respects to Rajya Sabha MP and former Samajwadi Party leader Amar Singh at the his residence in Delhi's Chhatarpur on August 03. Rajnath Singh also met his family members. Amar Singh, 64, passed away at a Singapore hospital on August 01. He was undergoing treatment at a hospital in Singapore for several months.
The mortal remains of Rajya Sabha MP Amar Singh have been kept at his residence in the national capital. SP leader Shivpal Singh Yadav Rajya Sabha MP Subhash Chandra paid their last respect to articulate politician. He passed away on August 01 at the age of 64 at the hospital in Singapore. He was undergoing treatment at a hospital for several months.
Career politician and Member of Parliament, Amar Singh, passed away on August 1, 2020. He had been hospitalised in Singapore. Singh was an active commentator of domestic issues till the very end, even tweeting tributes to Bal Gangadhar Tilak and Eid-al-Adha wishes. He had been battling health issues for a long time. On March 22, he had tweeted a video from his hospital bed, supporting Prime Minister Narendra Modi's call for social distancing amid the Covid-19 pandemic. Around 3 weeks earlier, he had debunked rumours of his death with a message titled 'Tiger Zinda Hai'. A month earlier, he had posted a rapprochement message for actor Amitabh Bachchan. The two had been close friends till a falling out around a decade ago. In the political world, Singh had been considered close to Samajwadi Party founder-patron Mulayam Singh Yadav, until he quit the party in 2010. A year later, he floated the Rashtriya Lok Manch which didn't perform well in the subsequent elections. In 2014, he had joined Ajit Singh's Rashtriya Lok Dal.
Credit: HT Digital Content Duration: 01:35Published
Rajya Sabha Member of Parliament and former Samajwadi Party leader Amar Singh passed away at the age of 64 on August 01. He was undergoing treatment at hospital in Singapore for several months. Amar Singh had suffered kidney failure back in 2013. Defence Minister Rajnath Singh expressed condolences.
Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.
US Senator Dick Durbin is requesting the Fed probe card networks and issuers, such as Mastercard and Visa. The senator wants an investigation over potentially anticompetitive fees. Durbin's letter hi-lighted that merchants are paying excessive debit card fees during the pandemic. The companies have planned major fee changes for US-based merchants. The Feds are requesting a competition-based investigating into Visa, Mastercard, and major issuers.
Spartan Capital Securities' Peter Cardillo expects the Fed to say it'll do "whatever it takes" to keep adding liquidity to the markets when policymakers meet this week. But he also tells Reuters' Fred Katayama that he thinks there's a good chance the markets will pull back, regardless of the Fed, because "the economy is faltering."
Investors on Tuesday paused ahead of a Federal Reserve Meeting that could reveal the Fed's view on recent signs of economic recovery. No major policy announcements are expected when the US central bank's meeting wraps up on Wednesday. However, investors will scrutinize its remarks on the health of the economy, which has been reopening slowly after coronavirus-related closures. According to Reuters, the S&P 1500 airlines index declined 8.5% on Tuesday.
[NFA] The White House and Donald Trump's campaign on Sunday sought to shut down the Republican president's musings on delaying the 2020 vote, saying there will be an election on Nov. 3. This report produced by Chris Dignam.
A self-proclaimed white supremacist exploded in a rage and hit a female restaurant staffer in the face. That's what happened at a restaurant in Nokomis, Florida. There, Nicholas Arnold Schock was caught on video going berserk.
Donald Trump, President of the United States of America, commented on the progress of research to stop the Covid-19 pandemic. Commenting on the race to develop a vaccine, he said that many companies are close to creating a successful one. He also announced a $2 billion deal with Sanofi and GSX for clinical trials and mass production of 10 crore doses of a vaccine. The US military is prepared to carry out distribution of a vaccine once it gets requisite clearance, said Trump. He also said that 'tremendous work' is being done on therapeutics, or non-vaccine treatment. The US government is looking at such methods 'very, very strongly'. The nation's Covid case tally has crossed 45 lakh, the highest in the world, with over 1.52 lakh deaths so far. The pandemic is set to be the biggest issue, apart from alleged discrimination against African-Americans, in the upcoming Presidential polls in the US. Elections are slated to be held in November 2020, although Trump has called for a postponement which was met with stern opposition. Watch the full video for more.
Credit: HT Digital Content Duration: 03:33Published
Stocks climbed on Friday as the growing prospect of a cut to US interest rates this month outweighed renewed tensions in the US-China trade war, an unexpected contraction in Singapore, and uninspiring..