Author: businessinvestopedia.com

Jeremy SiegelScott Mullin | CNBC Wharton professor Jeremy Siegel doesn’t think it’s important for the Fed to make emergency interest rate cuts anymore, but he still wants policymakers to cut rates quickly and aggressively.Siegel caused a stir on Monday when he told CNBC that Fed Chairman Jerome Powell and his colleagues should immediately implement an emergency 0.75 percentage point rate cut, followed by one more cut in September.Those comments came as markets plunged on fears of a recession and worries that the Fed was being too reluctant to ease monetary policy now that inflation has slowed, but strong data since…

MUMBAI – Steel Authority of India’s profit for the June quarter fell nearly 93 percent from a year ago to Rs 110 crore as prices fell due to cheap imports into the country, leading the steelmaker to incur a special-interest loss of Rs 3,120 crore.The state-run company sold 4.01 million tonnes of steel during the quarter, up more than 3 percent from a year ago, but its operating revenue fell 1.5 percent to Rs 23,998 crore.”…operating revenue was impacted by lower Net Sales Realised (NSR) in the domestic steel market due to cheaper imports,” the company said in a statement.However,…

A federal judge ruled on Wednesday that cryptocurrency company Ripple Pay just over $125 million Fine for improperly selling XRP tokens to institutional investors. The total is Approximately $2 billion Not only was it required by the Securities and Exchange Commission, $10 million cap Ripple made this claim in a court filing in April. The fine represents remittances for 1,278 transactions that Judge Analisa Torres said violated securities laws. Torres rejected the SEC’s request that Ripple return more than $876 million in profits from XRP sales, as well as pay $198 million in interest and a $876 million penalty. she…

Under Armour The company on Thursday reported declining sales across its businesses, but the sports apparel retailer reported better-than-expected first-quarter results, sending its shares soaring in early trading.The company beat Wall Street expectations on sales and profits, and its shares rose more than 20% in trading on Thursday.Based on LSEG’s analyst survey, the sports apparel company’s first-quarter results compared with Wall Street expectations:Earnings per share: Adjusted 1 cent (expected loss of 8 cents)Revenue: Expected $1.15 billion (expected $1.18 billion)Under Armour reported a loss of $305.4 million, or 70 cents a share, for the three months ended June 30. This compares…

(This is CNBC Pro’s live coverage of investor chatter on Thursday’s market volatility.) Investors will try to regain their footing Thursday, searching for signs that the economy is not deteriorating as quickly as feared a few days ago. Wall Street got some good news on that front, as new jobless claims numbers showed the labor market is resilient. Investors expect the consumer to become a bigger focus toward the end of the year after a disappointing July jobs report was one of the catalysts for the recent selloff. Stocks have fallen in four of the past five sessions. On Wednesday,…

New claims for jobless benefits last week came in lower than expected, offsetting other signs of a weakening labor market.The Labor Department said Thursday that initial jobless claims this week came in at a seasonally adjusted 233,000, down 17,000 from the previous week’s upwardly revised figure and below the Dow Jones forecast of 240,000.The report has put Wall Street on edge amid signs that job growth is slowing and a possible recession is closing in. Stock market futures, which had been negative, turned sharply positive after the 8:30 a.m. ET release, and Treasury yields remained elevated.While the top figures eased…

JPMorgan has raised its chances that the U.S. economy will fall into recession this year, the latest sign of concern about the nation’s financial health following this week’s market turmoil. Bruce Kassman, the bank’s chief global economist, said in a client note on Wednesday that the bank has raised its chances of a U.S. or global recession by the end of the year to 35 percent, up from a 25 percent figure in the bank’s midyear outlook. Meanwhile, JPMorgan left its chances of a recession by the second half of 2025 unchanged at 45 percent. Investors have been questioning whether…

Shares of Sagal India, which focuses on specialised infrastructure projects, made a modest stock market debut at Rs 419 per share, up just 4% from the issue price of Rs 401.Since listing, the stock price has fallen further and is trading at Rs 404, almost the same as the IPO price.Although the IPO was oversubscribed, a respectable 14 times, the actual listing performance was below initial expectations, influenced by market conditions at the time.Analysts said the company’s focus on specialized infrastructure projects and efficient execution model remain its main strengths, but the mid-market listing highlights the challenges posed by large…

Blind computing network Nillion has announced a partnership with Ritual, a decentralized AI infrastructure network, to “develop decentralized blind AI inference technology to democratize access to AI.” According to the team, “This collaboration will enable traditional and Web3 applications to use Ritual for trustless, verifiable inference of sensitive data through Nillion’s blind computing technology, ensuring data privacy throughout the entire computing process. This partnership will foster the sharing of secure AI models, potentially powering innovation in areas such as healthcare, IoT, and chatbot systems.”

According to Citi, investors looking to escape selling pressure should look for stocks that can withstand economic turmoil and are currently more attractively valued. Major stock indexes were pressured by a series of weak U.S. economic data, which has raised concerns that a recession is looming. The unwinding of the Japanese yen’s carry trade also contributed to the decline in stock prices, with the Dow Jones Industrial Average and the S&P 500 recording their first one-day declines in nearly two years on Monday. Against this backdrop, Citi has compiled a “Shopping List for After the Stock Market Draw,” listing stocks…