- August 16, 2023 07:27
Stock to buy today: Bank of India (₹89.69)
The short-term outlook is bullish for Bank of India. The stock rose 2.8 per cent on Monday, breaking above the key resistance level of ₹87. The moving average cross-overs on the daily chart also strengthens the bullish case.
- August 16, 2023 07:26
Wall St ends lower; strong retail sales stoke interest rate worries
Wall Street’s main stock indexes closed sharply lower on Tuesday after stronger-than-expected retail sales data stoked worries interest rates could stay higher for longer, while U.S. big banks dropped on a report that Fitch could downgrade some lenders.
- August 16, 2023 07:25
Fitch warns it may be forced to downgrade multiple banks, including JPMorgan – CNBC
An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday.
- August 16, 2023 07:15
China’s economic worries deepen Asian investor sentiment; US banks face downgrade threat
Amid US downturns driven by inflation and growth worries, Asian markets declined, dampening risk sentiment. Benchmark indexes slipped in Japan, South Korea, and Australia. Hong Kong equity futures also fell, while US futures remained stable. China’s economic concerns deepen, affecting Wednesday’s Asian investor sentiment. Wall Street’s main indices dropped S&P 500 -1.16%, Nasdaq -1.14%, Dow -1.02% due to robust retail sales sparking prolonged interest rate concerns and Fitch’s potential US bank downgrades, paralleling Moody’s recent downgrades’ impact on lenders. – Agencies
