Author: businessinvestopedia.com

NEW DELHI: Shares of GM Breweries, Dharmaji Crop Guard, JK Paper, Padumjee Paper Products and Refex Industries hit fresh 52-week highs during trade on the NSE on Tuesday. Selling in key blue chip stocks led the NSE Nifty index to fall 18.11 points to close at 24,123.85. However, shares of Hilton Metals, Acme Fintrade (India), Vaid Leasing, Future Supply Chain and Sarthak Metals hit their 52-week lows. Overall, 21 stocks advanced and 29 declined in the Nifty50 index. In the Nifty 50 index, L&T, Wipro, Infosys, HDFC Bank and TCS were among the top intraday gainers while Shriram Finance, Bharti…

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A sign advertising homes for sale stands outside a building in Manhattan, New York City on April 11, 2024.Spencer Pratt | Getty ImagesManhattan is becoming a buyer’s market as apartment prices fall and inventory increases in the second quarter of 2024, according to a new report.The average Manhattan property sales price fell 3% to just over $2 million, while the median price fell 2% to $1.2 million and luxury apartment prices fell for the first time in more than a year, according to a report from Douglas Elliman and Miller Samuel.The price declines are being driven by a growing inventory…

A look at companies making headlines in midday trading: Chewy, GameStop — Shares of Chewy fell 6.6% after a regulatory filing showed that meme stock trader Keith Gill (aka Roaring Kitty) bought 9 million shares of the pet food e-commerce company, giving him a 6.6% stake. His other major holding, GameStop, fell 5.5%. It’s unclear if he sold GameStop shares to buy Chewy. Boeing, Spirit AeroSystems — Boeing said Monday it would buy back aircraft maker Spirit AeroSystems in an all-stock deal for $4.7 billion. Boeing and Spirit AeroSystems shares rose about 2.6% and 3.4%, respectively. Trump Media & Technology…

As the new trading month began on Monday, JPMorgan highlighted stocks it believes can outperform in July. The S&P 500 rose 3.5% in June to hit an all-time high, marking the seventh of eight consecutive months of gains. Now that Wall Street is heading into the second half of 2024, JPMorgan has updated its Analyst Focus List, which includes top stock ideas across growth, earnings, value and short strategies. Below are some of the bank’s top picks for July. Telecommunications giant AT&T is one of JPMorgan’s new additions to the list in its value strategy. AT&T shares have risen 13%…

BlackRock, the world’s largest asset manager, said on Monday it has launched a “buffer” exchange-traded fund aimed at offering a 100% downside hedge to risk-averse investors looking to invest in the stock market.So-called buffer or risk-managed ETFs maximize returns from investors’ assets while providing protection from downside risk over a specific period of time. The novel product will be appealing to investors hoping to ride the rally in stock prices as they continue to trade near record highs, but who worry that a slowing economy combined with high interest rates for a long period of time could hurt sentiment going…

Zeta Global Holdings CEO David A. Steinberg at the New York Stock Exchange.Source: NYSEMeasuring the strength of the expanding US economy isn’t easy, so one company is turning to artificial intelligence to do the job.The Zeta Economic Index, released on Monday, uses generative AI to analyze what its developers call “trillions of behavioral signals” of data focused primarily on consumer activity to assess growth both across broad health levels and a separate measure of stability.The index essentially measures online and offline activity across eight categories, aiming to provide a comprehensive view that combines standard economic data points such as unemployment…

Banking industry groups viewed Friday’s U.S. Supreme Court ruling as a potential victory for their members, who have been the targets of increased regulation in recent years. The nation’s highest court overturned the decades-old Chevron doctrine, which since 1984 has held that when laws are ambiguous, courts will defer to regulatory interpretations of statutes, including those enacted by bank regulators. The Chevron Doctrine was rejected by majority decisions in two similar cases, Loper Bright Enterprises v. Raimondo and Relentless, Inc. v. U.S. Department of Commerce. The Chevron doctrine “violates the Administrative Procedure Act’s injunction that ‘courts of review,’ not bodies…

A Starbucks Coffee shop in Krakow, Poland, February 29, 2024. Beata Saurzel | Nurphoto | Getty ImagesStarbucks Cafes across the country have begun implementing various measures, such as changing the way customers order drinks, to reduce the congestion and long waiting times that have plagued chain restaurants.The major overhaul comes as the coffee giant prepares for a surge in orders through its mobile app.At the center of the plan is Starbucks’ “Siren Craft System,” a set of processes aimed at making baristas’ jobs easier and accelerating service time for customers. Starbucks says more than 10 percent of its 10,000 stores…

Wells Fargo said Tesla’s shares will likely take a hit in the third quarter as the company’s strategy of boosting sales by lowering prices loses momentum. The bank expects Tesla to ship 1.55 million vehicles this year, down 14% from a year ago and 13% below the consensus estimate. “We remain concerned by recent moderation in the three major regions (U.S., EU, and China),” analysts led by Colin Langan told clients in a research note on Monday. “The company’s reliance on largely ineffective credit-backed promotions leaves it with few levers left to boost sales volumes outside of pricing and model…