As the new week began, Asian stocks experienced a relatively quiet start due to a holiday in Japan. This absence of one market source of volatility provided a temporary sense of calm to investors. However, the focus quickly shifted towards the upcoming release of major economic data from the U.S. and China, which is expected
Economy
Republican U.S. vice presidential candidate JD Vance expressed his support for Donald Trump’s assertion that presidents should have a say in Federal Reserve Board policy-making. Vance believes that monetary policy decisions, including interest-rate moves, should be considered “political” decisions. He emphasized the importance of the country’s elected leaders having input regarding crucial decisions that impact
In response to the allegations made by US-based shortseller Hindenburg Research, India’s markets regulator, SEBI, issued a statement urging investors to remain calm and conduct proper due diligence before reacting. The allegations pertained to SEBI’s head, Madhabi Puri Buch, and her previous investments in offshore funds associated with the Adani Group. SEBI revealed that the
During a recent campaign stop in Nevada, U.S. Vice President Kamala Harris reiterated her commitment to supporting working families by pledging to eliminate taxes on tips. This move was seen as an effort to win over service workers in the state, a crucial constituency that can sway the outcome of the upcoming presidential election. Harris,
Federal Reserve Governor Michelle Bowman recently delivered remarks that deviated slightly from her usual hawkish tone. She acknowledged some progress in inflation in the past few months, which she deemed “welcome.” Despite this progress, she stressed that inflation remains “uncomfortably above” the central bank’s 2% target and is still susceptible to upside risks. Call for
Mahindra & Mahindra’s collaboration with China’s Shaanxi Automobile Group to establish a $3 billion joint venture to build a car manufacturing plant in India is a significant development in the automotive industry. The majority ownership by Mahindra and the location in Prime Minister Narendra Modi’s home state of Gujarat indicate strategic decision-making and potential benefits
In a recent ruling, the St. Louis-based 8th U.S. Circuit Court of Appeals extended an order blocking President Joe Biden’s administration from further implementing a student debt relief plan aimed at reducing monthly payments for millions of borrowers and expediting loan forgiveness for some. The court granted an injunction requested by seven Republican-led states, arguing
As the week came to a close, the S&P 500 showed resilience, ending on a positive note despite a tumultuous start. The market had been rattled by fears of a recession and concerns surrounding the unwinding of a global yen-funded carry trade. The technology sector emerged as a saving grace on Friday, providing the index
On Thursday, the Reserve Bank of India (RBI) decided to keep its key interest rate unchanged at 6.50%. This decision was widely expected and reflects the central bank’s focus on reducing inflation, despite the current global market volatility. The Monetary Policy Committee (MPC), which is comprised of three RBI members and three external members, voted