Big tech's AI profits loom over S&P 500. The ability of the largest tech companies to turn their investments in artificial intelligence into even greater profits will determine the fate of the S&P 500.

Outlook for investors betting on AI | World Business Watch

Foreign investors are set to channel significant capital into Taiwan stocks in November, creating a record-setting inflow of $8.2 billion on a net basis, Bloomberg reported on Thursday.<o:p></o:p>

This surge being the largest monthly inflow since at least 2000, is attributed to growing optimism surrounding technology shares, fuelled by the belief that the Federal Reserve has concluded its interest-rate hikes.<o:p></o:p>

The Taiwan Stock Exchange (TWSE) Index has surged by an impressive 8.6 per cent in November, positioning itself as one of the top-performing indices in the Asia Pacific region. This rally aligns with a global trend as investors re-evaluate tech valuations amid expectations of a peak in borrowing costs.<o:p></o:p>

Bloomberg cited Caroline Yu Maurer, Head of China and Specialised Asia Strategies at HSBC Asset Management, who emphasised the close correlation between Taiwan's market and the U.S. cycle, particularly the AI-related cycle. She noted that Taiwan's leading stocks do not exhibit extreme valuations, providing an attractive proposition for investors. Maurer remarked that Taiwan “is very much geared toward the US cycle, essentially the AI-related cycle. (The leading stocks) are not really extreme on valuations, they’re not as expensive."<o:p></o:p>

As the tech-heavy market in Taiwan experiences this financial influx, its neighbour, South Korea, also attracted substantial inflows amounting to $3.1 billion. In contrast, Indian equities, while increasingly becoming a structural bet for many foreigners, saw relatively lower popularity, gathering $614 million in inflows. <o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

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Foreign investors are set to channel significant capital into Taiwan stocks in November, creating a record-setting inflow of $8.2 billion on a net basis, Bloomberg reported on Thursday.

Foreign investors are set to channel significant capital into Taiwan stocks in November, creating a record-setting inflow of $8.2 billion on a net basis, Bloomberg reported on Thursday. This surge being the largest monthly inflow since at least 2000, is attributed to growing optimism surrounding technology shares, fuelled by the belief that the Federal Reserve has concluded its interest-rate hikes. The Taiwan Stock Exchange (TWSE) Index has surged by an impressive 8.6 per cent in November, positioning itself as one of the top-performing indices in the Asia Pacific region. This rally aligns with a global trend as investors re-evaluate tech valuations amid expectations of a peak in borrowing costs. Bloomberg cited Caroline Yu Maurer, Head of China and Specialised Asia Strategies at HSBC Asset Management, who emphasised the close correlation between Taiwan's market and the U.S. cycle, particularly the AI-related cycle. She noted that Taiwan's leading stocks do not exhibit extreme valuations, providing an attractive proposition for investors. Maurer remarked that Taiwan “is very much geared toward the US cycle, essentially the AI-related cycle. (The leading stocks) are not really extreme on valuations, they’re not as expensive." As the tech-heavy market in Taiwan experiences this financial influx, its neighbour, South Korea, also attracted substantial inflows amounting to $3.1 billion. In contrast, Indian equities, while increasingly becoming a structural bet for many foreigners, saw relatively lower popularity, gathering $614 million in inflows. (With inputs from Bloomberg) WATCH WION LIVE HERE

Taiwan stocks ride high with record inflows as tech optimism surges

This morning, global markets reflected the aftermath of Wall Street's tech-fueled surge, with Asian shares generally on the rise as investors awaited the pivotal US Inflation report scheduled for Tuesday. Japanese and Hong Kong stocks experienced gains, contrasting with modest declines in mainland Chinese and Australian markets. The positive momentum followed Friday's NASDAQ 100 upswing of over 2%, driven by Microsoft's new high. However, early Asian trading hours saw a dip in US Market futures. Note: Singapore and Malaysian markets are closed today due to holidays.

Global markets in morning hours: Asia responds to tech-driven wall street gains

What should be your strategy for managing your investments, which are the stocks to ditch, and which to keep? Feroze Azeez, Deputy CEO, Anand Rathi Wealth decode on The India Story

Which are the stocks to ditch and which to keep, Feroze Azeez, Deputy CEO, Anand Rathi Wealth decode

Stocks, SIPs, real estate or gold where should you invest this Diwali to gain maximum benefits? Know from the market veteran, Dhirendra Kumar, CEO, Value Research.

Stocks, SIPs, real estate or gold where should you invest this Diwali?

Asia-Pacific markets saw a mixed start to the day, with some indexes rebounding after consecutive declines. Meanwhile, China reported a faster-than-expected decline in consumer prices. 
 
South Korea's Kospi index had experienced a 3.24 per cent&nbsp;drop in the past two sessions, erasing over half of its gains earlier in the week when a short-selling ban was reintroduced. 
 
On the other side of the world, U.S. markets showed resilience as the S&amp;P 500 extended its winning streak for an eighth day, marking its longest run in two years. The Nasdaq Composite also continued its upward trend, notching its longest string of gains in two years. However, the Dow Jones Industrial Average saw a marginal decline, ending its best win streak since July. 
 
Oil prices ticked upward despite deflationary signals from China. Investors remained on the lookout for further insight into demand from the world's two largest oil consumers. This followed a previous drop of more than 2 per cent&nbsp;in both benchmarks to their lowest levels since mid-July, as concerns over supply disruptions in the Middle East eased and worries about U.S. and Chinese demand intensified. 
 
In the world of precious metals, gold prices retreated at the opening bell. This came after the precious metal had declined for a third consecutive session as investors sought fresh signals regarding the U.S. central bank's stance on interest rates. At the same time, palladium hit a five-year low. 
 
Within the palladium market, analysts are observing a rapid evaporation of demand, primarily due to reduced production of internal combustion engines and a growing shift toward using platinum in auto catalyst components. It's important to note that both metals play a crucial role in emissions-controlling devices in automobiles.

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Asia-Pacific markets saw a mixed start to the day, with some indexes rebounding after consecutive declines. Meanwhile, China reported a faster-than-expected decline in consumer prices.

Asia-Pacific markets saw a mixed start to the day, with some indexes rebounding after consecutive declines. Meanwhile, China reported a faster-than-expected decline in consumer prices. South Korea's Kospi index had experienced a 3.24 per cent drop in the past two sessions, erasing over half of its gains earlier in the week when a short-selling ban was reintroduced. On the other side of the world, U.S. markets showed resilience as the S&P 500 extended its winning streak for an eighth day, marking its longest run in two years. The Nasdaq Composite also continued its upward trend, notching its longest string of gains in two years. However, the Dow Jones Industrial Average saw a marginal decline, ending its best win streak since July. Oil prices ticked upward despite deflationary signals from China. Investors remained on the lookout for further insight into demand from the world's two largest oil consumers. This followed a previous drop of more than 2 per cent in both benchmarks to their lowest levels since mid-July, as concerns over supply disruptions in the Middle East eased and worries about U.S. and Chinese demand intensified. In the world of precious metals, gold prices retreated at the opening bell. This came after the precious metal had declined for a third consecutive session as investors sought fresh signals regarding the U.S. central bank's stance on interest rates. At the same time, palladium hit a five-year low. Within the palladium market, analysts are observing a rapid evaporation of demand, primarily due to reduced production of internal combustion engines and a growing shift toward using platinum in auto catalyst components. It's important to note that both metals play a crucial role in emissions-controlling devices in automobiles. WATCH WION LIVE HERE

Global Markets Roundup | S&P 500 extends winning streak for 8th straight session 

This morning, South Korean stocks fell over 2 per cent, leading losses in the wider Asia-Pacific as trade data posted by China showed exports lowered more than expected while imports ticked up. Investors are also awaiting a rate decision by the reserve bank of Australia.

South Korea’s kospi erased Monday’s gains when the index posted its best session since late march 2020 after the country re-imposed a ban on short selling.

In Japan, the nikkei 225 slipped in its first hour of trade and extended those losses.

Overnight in the U.S., all three indexes eked out narrow gains to build on last week’s strong rally. The Nasdaq composite jumped to finish higher, &nbsp;notching its longest positive streak since January.

Oil prices eased, giving up most of the gains from the previous day, on concerns over weak demand in China.

Gold eased as investors cautiously turned back to riskier assets, and positioned for a host of federal reserve speakers this week including Jerome Powell for clarity on U.S. rate cuts.

Risk appetite is a bit better and there have been no major surprise developments from the Israel-Hammas war, and this is taking away a little bit of the safe-haven bidding for gold and silver.

Remember, bullion gained over 7 per cent in October as the West Asia conflict boosted safe-haven demand.

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This morning, South Korean stocks fell over 2 per cent, leading losses in the wider Asia-Pacific as trade data posted by China showed exports lowered more than expected while imports ticked up.

This morning, South Korean stocks fell over 2 per cent, leading losses in the wider Asia-Pacific as trade data posted by China showed exports lowered more than expected while imports ticked up. Investors are also awaiting a rate decision by the reserve bank of Australia. South Korea’s kospi erased Monday’s gains when the index posted its best session since late march 2020 after the country re-imposed a ban on short selling. In Japan, the nikkei 225 slipped in its first hour of trade and extended those losses. Overnight in the U.S., all three indexes eked out narrow gains to build on last week’s strong rally. The Nasdaq composite jumped to finish higher, notching its longest positive streak since January. Oil prices eased, giving up most of the gains from the previous day, on concerns over weak demand in China. Gold eased as investors cautiously turned back to riskier assets, and positioned for a host of federal reserve speakers this week including Jerome Powell for clarity on U.S. rate cuts. Risk appetite is a bit better and there have been no major surprise developments from the Israel-Hammas war, and this is taking away a little bit of the safe-haven bidding for gold and silver. Remember, bullion gained over 7 per cent in October as the West Asia conflict boosted safe-haven demand. WATCH WION LIVE HERE

Global Markets Roundup | China's lower than expected exports leads to sell-off in Asian markets

The U.S. Stock market just had its greatest week in over a year. But worries about corporate America's earnings prospects remain just below the surface. The outlook for more companies is lower than analysts' expectations this earnings season.

US earnings: More than what meets the eye?

Chris Wood, the global head of equity strategy at Jefferies, said if prime minister Narendra Modi's party loses national elections next year, the Indian stock market will suffer.

Jefferies predicts 25% stock plunge if BJP loses 2024 polls

India's prominent blue-chip stocks faced a decline for the sixth consecutive session, as escalating selling pressure, coupled with heightened U.S. Treasury yields and apprehensions regarding the Middle East conflict, weighed on market sentiment. &nbsp;

According to a Reuters report, the NSE (National Stock Exchange) Nifty 50 index settled 1.39 per cent lower at 18,857.25, marking its first close below the 19,000 mark since June 28. The S&amp;P BSE (Bombay Stock Exchange) Sensex experienced a 1.41 per cent drop, concluding at 63,148.15. Over the past six sessions, these benchmarks have collectively lost nearly 5 per cent of their value, driving the Nifty into oversold territory for the first time in 16 months.&nbsp;

Only four of the Nifty 50 stocks managed to advance. The entire spectrum of 13 major sectoral indexes recorded losses, with high-weightage sectors like banks and IT shedding 1.29 per cent and 1 per cent respectively. A significant portion of the IT sector's decline was attributed to Tech Mahindra, which experienced a substantial 2.34 per cent fall following its largest profit decline in over 16 years. Adani Enterprises also lost 2.38 per cent amid reports that India's accounting regulator had initiated an investigation into one of the Adani group's auditors.&nbsp;

The small-cap and mid-cap segments, which had been outperforming their larger counterparts in recent times, were not immune to the market turmoil. These segments experienced losses of 0.34 per cent and 1.16 per cent respectively. The regional impact was evident, with the MSCI Asia ex-Japan index shedding 1.25 per cent. India's volatility index rose by 3.69 per cent to reach 11.73 at the close, marking its highest level in over three weeks.&nbsp;

Avinash Gorakshakar, the Head of Research at Profitmart Securities, told Reuters, "Domestic equities have been under pressure over the past two weeks because of worries that if the (West Asia) conflict continued for a long time, it would have adverse repercussions for the global economy and markets." He further added that "elevated U.S. treasury yields could trigger an extended period of foreign outflows."&nbsp;

The downward trajectory extended to individual stock performances. Asian Paints and McDonald's franchisee Westlife Foodworld dropped by 3.28 per cent and 1.81 per cent respectively after failing to meet profit estimates for the second quarter. However, private lender Axis Bank managed to gain 1.74 per cent following a positive outcome in the September quarter, driven by strong loan growth.&nbsp;

(With inputs from Reuters)&nbsp;

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India's prominent blue-chip stocks faced a decline for the sixth consecutive session, as escalating selling pressure, coupled with heightened U.S. Treasury yields and apprehensions regarding the Middle East conflict, weighed on market sentiment.

India's prominent blue-chip stocks faced a decline for the sixth consecutive session, as escalating selling pressure, coupled with heightened U.S. Treasury yields and apprehensions regarding the Middle East conflict, weighed on market sentiment. According to a Reuters report, the NSE (National Stock Exchange) Nifty 50 index settled 1.39 per cent lower at 18,857.25, marking its first close below the 19,000 mark since June 28. The S&P BSE (Bombay Stock Exchange) Sensex experienced a 1.41 per cent drop, concluding at 63,148.15. Over the past six sessions, these benchmarks have collectively lost nearly 5 per cent of their value, driving the Nifty into oversold territory for the first time in 16 months. Only four of the Nifty 50 stocks managed to advance. The entire spectrum of 13 major sectoral indexes recorded losses, with high-weightage sectors like banks and IT shedding 1.29 per cent and 1 per cent respectively. A significant portion of the IT sector's decline was attributed to Tech Mahindra, which experienced a substantial 2.34 per cent fall following its largest profit decline in over 16 years. Adani Enterprises also lost 2.38 per cent amid reports that India's accounting regulator had initiated an investigation into one of the Adani group's auditors. The small-cap and mid-cap segments, which had been outperforming their larger counterparts in recent times, were not immune to the market turmoil. These segments experienced losses of 0.34 per cent and 1.16 per cent respectively. The regional impact was evident, with the MSCI Asia ex-Japan index shedding 1.25 per cent. India's volatility index rose by 3.69 per cent to reach 11.73 at the close, marking its highest level in over three weeks. Avinash Gorakshakar, the Head of Research at Profitmart Securities, told Reuters, "Domestic equities have been under pressure over the past two weeks because of worries that if the (West Asia) conflict continued for a long time, it would have adverse repercussions for the global economy and markets." He further added that "elevated U.S. treasury yields could trigger an extended period of foreign outflows." The downward trajectory extended to individual stock performances. Asian Paints and McDonald's franchisee Westlife Foodworld dropped by 3.28 per cent and 1.81 per cent respectively after failing to meet profit estimates for the second quarter. However, private lender Axis Bank managed to gain 1.74 per cent following a positive outcome in the September quarter, driven by strong loan growth. (With inputs from Reuters) WATCH WION LIVE HERE

India's blue-chip stocks slide to near four-month lows amid global economic concerns 

Nikhil Kamath's journey in finance and entrepreneurship is nothing short of a modern-day legend. From a school dropout who sold phones at the age of 14 to becoming the co-founder of India's largest stockbroker, Zerodha, and the country's youngest billionaire, his story is a testament to the power of determination, timing, and the pursuit of dreams. Let's delve into the inspiring journey of Nikhil Kamath.

The early struggles

Nikhil's path to success was far from conventional. He openly admitted to despising school, and, as a teenager, he chose to sell phones, much to his mother's dismay. His lack of interest in education led to his school denying him the opportunity to sit for the class 10 board exams, eventually pushing him to drop out.

Unconventional choices continued as he moved in with his girlfriend and began working at a call centre during the evenings, earning a monthly salary of&nbsp;8,000 rupees. In the mornings, he dabbled in trading, self-educating, and honing his skills away from the family ecosystem and societal judgment.

The turning point

In 2006, Nikhil had a fateful encounter with an American man who entrusted him with the responsibility of managing his money. This experience served as a stepping stone for Nikhil, leading him to establish a brokerage firm named "Kamath &amp; Associates." However, it was in 2010 that Nikhil took a monumental leap and founded Zerodha, a disruptive trading platform. Shortly after, he was joined by his elder brother, Nithin Kamath, in this ambitious endeavour.

The Zerodha revolution

Zerodha was founded with the mission to simplify retail trading for everyday investors, and the timing couldn't have been more perfect. Approximately 15 per cent&nbsp;of India's total retail trading volume now flows through Zerodha, with a staggering daily turnover of over $10 billion. The platform's accessibility, discounts, and user-friendly interface attracted millions, and it thrived, especially during the pandemic.

Billionaire status

The success of Zerodha catapulted Nikhil Kamath to billionaire status, making him the youngest billionaire in India at the age of 37. According to Forbes ' latest rankings, his combined net worth with his brother Nithin now stands at a remarkable $5.5 billion, securing him the 40th position among India's richest individuals.

Giving back and future endeavours

Nikhil Kamath has pledged to donate 25 per cent&nbsp;of his wealth to philanthropic causes and $100 million toward combating climate change, echoing the generosity of Warren Buffett.

He recently unveiled the 'WTF Fund' initiative, an innovative endeavour to empower budding entrepreneurs to thrive within the sectors of fashion, beauty, and home brands. This initiative boasts a collaboration with luminaries such as Kishore Biyani, the founder of Future Group, Ananth Narayanan, the mind behind Mensa Brands, and Raj Shamani, a content creator renowned for his House of X and the Figuring Out Podcast.

As he said in an interview with South China Morning Post (SCMP),&nbsp;'The idea is to move the central focus away from doing well for oneself, to being a more significant part of the various communities I am a part of; businesses that are not just for profit but have an impact element.'

Nikhil Kamath's rise is a story of financial success and an inspiring tale of determination, risk-taking, and the importance of timing in entrepreneurship. His journey serves as a beacon of hope and motivation for younger entrepreneurs, emphasising that dreams can be realised through relentless pursuit and the courage to step away from the conventional.

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Nikhil Kamath's journey in finance and entrepreneurship is nothing short of a modern-day legend. From a school dropout who sold phones at the age of 14 to becoming the co-founder of India's largest stockbroker, Zerodha, and the country's youngest billionaire, his story is a testament to the power of determination, timing, and the pursuit of dreams.

Nikhil Kamath's journey in finance and entrepreneurship is nothing short of a modern-day legend. From a school dropout who sold phones at the age of 14 to becoming the co-founder of India's largest stockbroker, Zerodha, and the country's youngest billionaire, his story is a testament to the power of determination, timing, and the pursuit of dreams. Let's delve into the inspiring journey of Nikhil Kamath. The early struggles Nikhil's path to success was far from conventional. He openly admitted to despising school, and, as a teenager, he chose to sell phones, much to his mother's dismay. His lack of interest in education led to his school denying him the opportunity to sit for the class 10 board exams, eventually pushing him to drop out. Unconventional choices continued as he moved in with his girlfriend and began working at a call centre during the evenings, earning a monthly salary of 8,000 rupees. In the mornings, he dabbled in trading, self-educating, and honing his skills away from the family ecosystem and societal judgment. The turning point In 2006, Nikhil had a fateful encounter with an American man who entrusted him with the responsibility of managing his money. This experience served as a stepping stone for Nikhil, leading him to establish a brokerage firm named "Kamath & Associates." However, it was in 2010 that Nikhil took a monumental leap and founded Zerodha, a disruptive trading platform. Shortly after, he was joined by his elder brother, Nithin Kamath, in this ambitious endeavour. The Zerodha revolution Zerodha was founded with the mission to simplify retail trading for everyday investors, and the timing couldn't have been more perfect. Approximately 15 per cent of India's total retail trading volume now flows through Zerodha, with a staggering daily turnover of over $10 billion. The platform's accessibility, discounts, and user-friendly interface attracted millions, and it thrived, especially during the pandemic. Billionaire status The success of Zerodha catapulted Nikhil Kamath to billionaire status, making him the youngest billionaire in India at the age of 37. According to Forbes ' latest rankings, his combined net worth with his brother Nithin now stands at a remarkable $5.5 billion, securing him the 40th position among India's richest individuals. Giving back and future endeavours Nikhil Kamath has pledged to donate 25 per cent of his wealth to philanthropic causes and $100 million toward combating climate change, echoing the generosity of Warren Buffett. He recently unveiled the 'WTF Fund' initiative, an innovative endeavour to empower budding entrepreneurs to thrive within the sectors of fashion, beauty, and home brands. This initiative boasts a collaboration with luminaries such as Kishore Biyani, the founder of Future Group, Ananth Narayanan, the mind behind Mensa Brands, and Raj Shamani, a content creator renowned for his House of X and the Figuring Out Podcast. As he said in an interview with South China Morning Post (SCMP), 'The idea is to move the central focus away from doing well for oneself, to being a more significant part of the various communities I am a part of; businesses that are not just for profit but have an impact element.' Nikhil Kamath's rise is a story of financial success and an inspiring tale of determination, risk-taking, and the importance of timing in entrepreneurship. His journey serves as a beacon of hope and motivation for younger entrepreneurs, emphasising that dreams can be realised through relentless pursuit and the courage to step away from the conventional. WATCH WION LIVE HERE

The Art of Timing: Nikhil Kamath's entrepreneurial triumph in stocks

Nike's stock increased on Friday after the sportswear manufacturer's profits allayed fears about price gouging. It provides Nike and the sportswear industry as a whole with much-needed momentum.

Nike races ahead despite China slowdown concerns

There is no true alternative to the US stock market for equity investors, as seen by the stagflation crisis in Europe and the property slowdown in China. With just four months remaining in 2023, the S&P 500's gains are ahead of the Stoxx Europe 600 by nearly eight percentage points. The S&P index is on track for the eighth year of outperformance in the previous decade as AI hype overshadows recession worries and high valuations.

US stocks outshine global rivals

Months after US-based short seller Hindenburg raised questions about its business dealings, India's Adani group is once again in the line of fire. This time, a non-profit media organisation, said that the business partners of the Adani family used 'opaque' funds to invest in its stocks.

After Hindenburg, another group slams Adani

The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be&nbsp;reduced to T+3 days from T+6 days. The new rules, which will come into&nbsp;effect in December this year, will allow&nbsp;IPOs to be listed three days after the issue closing date, The Economic Times reported.

“Consequent to extensive consultation with the market participants and considering the public comments received pursuant to the consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for the listing of specified securities after the closure of the public issue to three working days (T+3 days) as against the present requirement of six working days (T+6 days); ‘T’ being issue closing date,” The Economic Times quoted Sebi as saying.

The offer documents for public issues must properly disclose the T+3 schedule for listing, the report&nbsp;stated.

For public issues opening on or after September 1, 2023, the new guidelines will be voluntary, and they will be required for issues starting on or after December 1, 2023.

The market regulator said that stakeholders will gain from the shortened listing schedule since issuers and allottees will receive their funds and securities earlier, the report noted.&nbsp;

Additionally, the action guarantees that subscribers who were not given shares would immediately refunds. All stakeholders’ resources, including those of stock exchanges, banks, depositories, and brokers, will be used for a shorter period of time throughout the public offering process.

Companies must complete allocations under the new rules by 6 p.m. on T+1 day. On the T+2 day, funds will be returned to unsuccessful applicants.

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The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be reduced to T+3 days from T+6 days.

The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be reduced to T+3 days from T+6 days. The new rules, which will come into effect in December this year, will allow IPOs to be listed three days after the issue closing date, The Economic Times reported. “Consequent to extensive consultation with the market participants and considering the public comments received pursuant to the consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for the listing of specified securities after the closure of the public issue to three working days (T+3 days) as against the present requirement of six working days (T+6 days); ‘T’ being issue closing date,” The Economic Times quoted Sebi as saying. The offer documents for public issues must properly disclose the T+3 schedule for listing, the report stated. For public issues opening on or after September 1, 2023, the new guidelines will be voluntary, and they will be required for issues starting on or after December 1, 2023. The market regulator said that stakeholders will gain from the shortened listing schedule since issuers and allottees will receive their funds and securities earlier, the report noted. Additionally, the action guarantees that subscribers who were not given shares would immediately refunds. All stakeholders’ resources, including those of stock exchanges, banks, depositories, and brokers, will be used for a shorter period of time throughout the public offering process. Companies must complete allocations under the new rules by 6 p.m. on T+1 day. On the T+2 day, funds will be returned to unsuccessful applicants. WATCH WION LIVE HERE

IPO rules changed, listing time brought down further: Sebi 

Microsoft has pushed its stock to new highs that have prepared CEO Satya Nadella's overall earnings from the business to above a golden threshold of one billion dollars and that's big news. A Bloomberg report showed Nadella's compensation from Microsoft including salary bonuses and dividends was included in the total win. The stock price of Microsoft has jumped by more than one thousand per cent since the day he took over as the CEO.

Microsoft CEO Satya Nadella's compensation tops $1bn

Here, we bring you a quick round-up of all the latest news and top headlines from all across the globe: As foreign investors continue to increase their bets on India a resilient domestic economy and relatively cheap valuations are helping the bulls to stay in control. Morgan Stanley analysts have picked Apple as their top stock for the rest of 2023.

India's economic boom to drive Apple stock

ChatGPT is the hip thing&nbsp;these days, and keeps generating&nbsp;awe on how amazing can be its&nbsp; use&nbsp;in different fields and the difference it brings to work output and applications. The artificial intelligence-powered blockbuster chatbot can answer questions, seduce lonely humans and even write complex computer codes. ChatGPT single-handedly ushered in huge&nbsp;appreciation (and fear!) of artificial intelligence in popular imagination. It appeared that human intelligence was soon to be obsolete. Jobs would be lost and machines would take over. In sharp contrast to all the praise, now a dog has defeated ChatGPT when&nbsp;both were asked to select shares that would be profitable. The shares selected by ChatGPT yielded 3.5 per cent profit while those selected by the dog registered a profit of a whopping 13.5 per cent. The Times reported about this experiment.

The fun exercise was reportedly carried out in Germany. Details of the experiment are available in the German magazine WirtschaftsWoche.

No worries if you don't know German. Because if you want to know more about this, read on.

Freddy, an eight-year-old dog selected some shares by 'gravitating towards treats laid out on slips of paper'.

Both Freddy and ChatGPT were given a notional amount of 19,000 euros and were asked to pick shares.

ChatGPT does not give specific suggestions for investment, but it reportedly volunteered to assemble a “diversified portfolio of stocks [in firms] that demonstrate solid accounts, have growing sales, remain profitable and have a high market capitalisation”.

The chatbot selected a relatively modest portfolio. The portfolio had&nbsp;shares from tech companies like Apple and Amazon along with successful consumer focussed businesses like McDonald's and Coca-Cola.

The portfolio yielded a return of 3.5 per cent.

Over to Freddy.

The 'Warren Wooffett' selected shares from energy, AI and tech hardware companies. The dog also chose Nvidia, a high-end chipmaker.

The portfolio reportedly earned a profit of 13.5 per cent.

<h3>So what does this mean?</h3>

Financial theorists have wondered since the 19th century whether trading in shares needs specific expertise or it is just a matter of chance.

The Times reported that in tests in which schoolchildren and animals were asked to select shares by throwing darts at a wall, it was found that the shares that were 'selected' outperformed those chosen by financial analysts.

Also Read | <a href="https://www.wionews.com/science/astronomers-discover-most-reflective-planet-thats-like-a-mirror-614007">Astronomers discover most reflective planet that's 'like a mirror'</a>

The Chicago Sun-Times reportedly hired a monkey as its star investment columnist in the 2000s. The monkey chose stocks by circling items with a red felt-tip pen. This, says The Times, beat financial analysts more often than not.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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ChatGPT is the hip thing these days, and keeps generating awe on how amazing can be its use in different fields and the difference it brings to work output and applications.

ChatGPT is the hip thing these days, and keeps generating awe on how amazing can be its use in different fields and the difference it brings to work output and applications. The artificial intelligence-powered blockbuster chatbot can answer questions, seduce lonely humans and even write complex computer codes. ChatGPT single-handedly ushered in huge appreciation (and fear!) of artificial intelligence in popular imagination. It appeared that human intelligence was soon to be obsolete. Jobs would be lost and machines would take over. In sharp contrast to all the praise, now a dog has defeated ChatGPT when both were asked to select shares that would be profitable. The shares selected by ChatGPT yielded 3.5 per cent profit while those selected by the dog registered a profit of a whopping 13.5 per cent. The Times reported about this experiment. The fun exercise was reportedly carried out in Germany. Details of the experiment are available in the German magazine WirtschaftsWoche. No worries if you don't know German. Because if you want to know more about this, read on. Freddy, an eight-year-old dog selected some shares by 'gravitating towards treats laid out on slips of paper'. Both Freddy and ChatGPT were given a notional amount of 19,000 euros and were asked to pick shares. ChatGPT does not give specific suggestions for investment, but it reportedly volunteered to assemble a “diversified portfolio of stocks [in firms] that demonstrate solid accounts, have growing sales, remain profitable and have a high market capitalisation”. The chatbot selected a relatively modest portfolio. The portfolio had shares from tech companies like Apple and Amazon along with successful consumer focussed businesses like McDonald's and Coca-Cola. The portfolio yielded a return of 3.5 per cent. Over to Freddy. The 'Warren Wooffett' selected shares from energy, AI and tech hardware companies. The dog also chose Nvidia, a high-end chipmaker. The portfolio reportedly earned a profit of 13.5 per cent. So what does this mean? Financial theorists have wondered since the 19th century whether trading in shares needs specific expertise or it is just a matter of chance. The Times reported that in tests in which schoolchildren and animals were asked to select shares by throwing darts at a wall, it was found that the shares that were 'selected' outperformed those chosen by financial analysts. Also Read | Astronomers discover most reflective planet that's 'like a mirror' The Chicago Sun-Times reportedly hired a monkey as its star investment columnist in the 2000s. The monkey chose stocks by circling items with a red felt-tip pen. This, says The Times, beat financial analysts more often than not. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

'Warren Wooffett': Dog defeats ChatGPT in contest to select profitable shares

Regional bank stocks in the US Rallied as deposits started returning, with western alliance bancorp reporting significant deposit growth of over $2 billion since April. While analysts caution against prematurely declaring an end to the banking crisis, the recovery in banking shares indicates an easing of concerns about the health of us regional lenders.

US Regional banking stocks rally

Wall Street's three major stock indexes closed lower on Thursday, with bank stocks creating the biggest drag while investors also worried that Friday's jobs report could spur more aggressive interest rate hikes from the Federal Reserve.

Wall Street falls on bank stocks tumble, jobs report jitters

Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.&nbsp;The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the U.S. short-seller's claims as baseless, saying it was timed to damage its reputation ahead of a large share offering.

The group's flagship firm, Adani Enterprises, will on Friday (January&nbsp;27) launch the country's biggest public secondary share offering, aiming to raise to&nbsp;$2.5 billion&nbsp;to fund capital expenditure and pay off some debt.

Hindenburg, known for having shorted electric truck maker Nikola Corp&nbsp;and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments.

Its research report questioned how the Adani Group has used offshore entities in tax havens like Mauritius and the Caribbean Islands.

It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing", and asserted that shares in seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations".

Adani Group's Chief Financial Officer, Jugeshinder Singh, said in a statement the company was shocked by the report, calling it a "malicious combination of selective misinformation and stale, baseless and discredited allegations."

"The Group has always been in compliance with all laws," the company said, without addressing specific allegations made by Hindenburg.

"The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises," it added.

The report coincided with bidding for Adani's secondary share sale by anchor investors on Wednesday. Abu Dhabi Investment Authority and Morgan Stanley were among investors who bid for shares worth Rs 90 billion&nbsp;($1.1 billion), compared with Rs 60 billion worth of stock on offer,&nbsp;a source told Reuters.

The research report, Hindenburg said, was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents.

India's capital markets regulator, the Securities and Exchange Board of India, did not immediately respond to a request for comment.

Adani has repeatedly dismissed debt concerns. Singh&nbsp;told media&nbsp;on Jan. 21, "Nobody has raised debt concerns to us. No single investor has."

Shares in Adani Ports And Special Economic Zone&nbsp;fell 6.3% while Adani Enterprises ended down 1.5%.

Hindenburg's report said five of seven key listed Adani companies have reported current ratios — a measure of liquid assets minus near-term liabilities — below 1. This, the short-seller said, suggested "a heightened short-term liquidity risk".

Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to Rs 2.2 trillion.

Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd&nbsp;exceeding equity by more than 2,000%.

CreditSights, part of the Fitch Group, described the group last September as "overleveraged". While the report later corrected some calculation errors, CreditSights said it continued to be concerned about Adani Group's leverage.

Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans.

"Equity share pledges are an inherently unstable source of lending collateral," it said in the report.

Last year, the Adani Group bought cement firms ACC&nbsp;and Ambuja Cements&nbsp;from Switzerland's Holcim&nbsp;for $10.5 billion. Days later, it pledged shares in the two firms, worth about $12.5 billion at the time, to banks in a non-disposal agreement that prevents it from offloading the shares until lenders agree that debts are paid.

ACC and Ambuja both fell over 7% on Wednesday.

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Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.

Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the U.S. short-seller's claims as baseless, saying it was timed to damage its reputation ahead of a large share offering. The group's flagship firm, Adani Enterprises, will on Friday (January 27) launch the country's biggest public secondary share offering, aiming to raise to $2.5 billion to fund capital expenditure and pay off some debt. Hindenburg, known for having shorted electric truck maker Nikola Corp and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments. Its research report questioned how the Adani Group has used offshore entities in tax havens like Mauritius and the Caribbean Islands. It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing", and asserted that shares in seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations". Adani Group's Chief Financial Officer, Jugeshinder Singh, said in a statement the company was shocked by the report, calling it a "malicious combination of selective misinformation and stale, baseless and discredited allegations." "The Group has always been in compliance with all laws," the company said, without addressing specific allegations made by Hindenburg. "The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises," it added. The report coincided with bidding for Adani's secondary share sale by anchor investors on Wednesday. Abu Dhabi Investment Authority and Morgan Stanley were among investors who bid for shares worth Rs 90 billion ($1.1 billion), compared with Rs 60 billion worth of stock on offer, a source told Reuters. The research report, Hindenburg said, was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents. India's capital markets regulator, the Securities and Exchange Board of India, did not immediately respond to a request for comment. Adani has repeatedly dismissed debt concerns. Singh told media on Jan. 21, "Nobody has raised debt concerns to us. No single investor has." Shares in Adani Ports And Special Economic Zone fell 6.3% while Adani Enterprises ended down 1.5%. Hindenburg's report said five of seven key listed Adani companies have reported current ratios — a measure of liquid assets minus near-term liabilities — below 1. This, the short-seller said, suggested "a heightened short-term liquidity risk". Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to Rs 2.2 trillion. Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd exceeding equity by more than 2,000%. CreditSights, part of the Fitch Group, described the group last September as "overleveraged". While the report later corrected some calculation errors, CreditSights said it continued to be concerned about Adani Group's leverage. Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans. "Equity share pledges are an inherently unstable source of lending collateral," it said in the report. Last year, the Adani Group bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. Days later, it pledged shares in the two firms, worth about $12.5 billion at the time, to banks in a non-disposal agreement that prevents it from offloading the shares until lenders agree that debts are paid. ACC and Ambuja both fell over 7% on Wednesday. WATCH WION LIVE HERE:

Hindenburg shorts India's Adani Group, cites debt and accounting concerns

According to the reports, BlackRock Inc, the world's largest asset manager, is cutting some staff after growing in recent years, with 500 jobs impacted. Watch to know more.

BlackRock plans to lay off 500 workers worldwide

Apple Inc's stock market value shrank sharply on Tuesday following its steep drop last year, leaving it below $2 trillion for the first time since March 2021. Watch this video to know more.

World Business Watch: Apple's stock market value falls below $2 trillion

Tech giant Apple and electric car major Tesla are witnessing major tumble in their share prices as concerns mount over delays in their production lines amid Covid crisis in China. Both companies have struggled to keep their manufacturing on track as China grapples with fresh wave of Covid infections.

Apple stocks have tumbled to the lowest since June 2021. For Tesla, the tumble is of 73 per cent from a record high in November 2021.

Apple supplier Foxconn says its revenue in November was down 11 per cent compared with the same month in 2021, following unrest at its Zhangzhou plant known as "iPhone City."

Watch | China: Tesla halts production at Shanghai plant; year-end closure comes as Covid cases rise

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This week, media reports said Tesla's Shanghai manufacturing plant had cut production as Covid infections rose in China. The company declined to comment.

But analysts say the company's sluggish sales are evident in the fact that it has offered discounts to both Chinese and North American customers, BBC reported.

Also Read | <a href="https://www.wionews.com/business-economy/teslas-wall-street-fortunes-plummet-by-two-third-since-elon-musks-twitter-takeover-547212">Tesla's Wall Street fortunes plummet by two-third since Elon Musk's Twitter takeover</a> 
 
Investors have also raised concerns about Tesla's chief executive Elon Musk, who has repeatedly made controversial headlines. He took over Twitter in October after a drawn-out legal battle and since then Musk has focused a significant amount of his time on running the social media platform. Some have cited his alleged distraction during this time as another reason for the fall in Tesla's share price.

(With inputs from agencies)

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Tech giant Apple and electric car major Tesla are witnessing major tumble in their share prices as concerns mount over delays in their production lines amid Covid crisis in China.

Tech giant Apple and electric car major Tesla are witnessing major tumble in their share prices as concerns mount over delays in their production lines amid Covid crisis in China. Both companies have struggled to keep their manufacturing on track as China grapples with fresh wave of Covid infections. Apple stocks have tumbled to the lowest since June 2021. For Tesla, the tumble is of 73 per cent from a record high in November 2021. Apple supplier Foxconn says its revenue in November was down 11 per cent compared with the same month in 2021, following unrest at its Zhangzhou plant known as "iPhone City." Watch | China: Tesla halts production at Shanghai plant; year-end closure comes as Covid cases rise × This week, media reports said Tesla's Shanghai manufacturing plant had cut production as Covid infections rose in China. The company declined to comment. But analysts say the company's sluggish sales are evident in the fact that it has offered discounts to both Chinese and North American customers, BBC reported. Also Read | Tesla's Wall Street fortunes plummet by two-third since Elon Musk's Twitter takeover Investors have also raised concerns about Tesla's chief executive Elon Musk, who has repeatedly made controversial headlines. He took over Twitter in October after a drawn-out legal battle and since then Musk has focused a significant amount of his time on running the social media platform. Some have cited his alleged distraction during this time as another reason for the fall in Tesla's share price. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Apple, Tesla stocks hit major lows as concerns prevail over production amid Covid

US software giant Microsoft will buy a four-percent stake in the London Stock Exchange Group under a new IT services tie-up. Watch this video to know more.

WION Dispatch: Microsoft to acquire four-percent stake in London Stock Exchange

US tech billionaires just have their best day ever on Thursday, when they added $59 billion to their fortunes following Thursday's stock market rally at Wall Street.

Best day on record for U.S. tech billionaires; Asia stocks jump on U.S. inflation numbers

It was a brutal week for the big Tech firms. The biggest US companies have lost nearly a trillion dollars in terms of their valuation before partial rebound. Wall Street losing confidence in resilience of big tech firms?

WION Fineprint| Big Tech firms lose nearly $800 Bn in value; Meta reports slump in profit margins

Wall Street tech rout has widened as economic gloom hits U.S. tech stocks. Intel is looking to cut workers to reduce costs. Watch this report.

Wall Street tech rout widens as economic gloom hits U.S. tech stocks

Global stocks and the pound climbed Monday as markets reacted to the news that former finance minister Rishi Sunak would become Britain's new prime minister.

European and American equities climbed despite data showing Britain and Germany headed for recession and a plunging Hong Kong stock market as Chinese President Xi Jinping handed key economic posts to loyalists behind his zero-Covid strategy.

Wall Street also opened in the green on Monday, with sentiment boosted by hopes the Federal Reserve would soon slow its pace of interest rate hikes.

Watch | UK: Penny Mordaunt backs out, Rishi Sunak to be the next UK PM

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News that European gas prices were at a four-month low also spurred traders, as the reference Dutch TTF dipped below 100 euros for the first time since June, reaching 98.60 euros per megawatt hour at around 1030 GMT on Monday.

All eyes were on Britain as Sunak was poised to become the country's third prime minister in less than two months following the resignations of Boris Johnson and Liz Truss.

His last rival for leadership of the ruling Conservative party, Penny Mordaunt, dropped out of the race on Monday, clearing the way for Sunak to become prime minister after his failed bid earlier this year.

"The pound started the week trading higher as many see the new potential PM as a source of some stability, particularly when compared to the chaotic term served by the Truss government which saw massive volatility across markets," noted XTB chief market analyst Walid Koudmani.

"Many see Sunak as the final chance for the Conservative Party as he has managed to maintain some credibility" compared with the uncertainty of the Truss and Johnson premierships, he added.

"Investors clearly hope Sunak will stabilise the economy and the political situation -- though it's hard to work out at this point which is the harder task," commented AJ Bell financial analyst Danni Hewson.

Yields on UK government bonds also dropped following recent surges in the wake of Truss's disastrous budget that led to her downfall.

Focus was also on the euro after new Italian Prime Minister Giorgia Meloni took office.

Meloni's post-fascist Brothers of Italy scored a historic victory in general elections on September 25.

Her new government is the most far-right in Italy since World War II, and takes power at a time of decades-high inflation and an energy crisis linked to Russia's invasion of Ukraine.

Milan's stock market was up 1.3 percent in early afternoon trading on Monday, mirroring strong gains in Frankfurt and Paris, while yields on Italian government bonds also fell.

London was up by 0.6 percent in mid-afternoon trading, but the stronger pound and falling oil and gas prices were weighing on the heavyweight energy sector, according to traders.

The eurozone was meanwhile looking ahead to Thursday when the European Central Bank is expected to announce another bumper rise in interest rates aimed at curbing sky-high prices.

On the corporate front, Dutch medical device manufacturer Philips announced it would axe 4,000 jobs after its recall of faulty sleep respirators pushed it into a loss.

Following the news, the group's share price dropped 0.8 percent on the Amsterdam stock exchange on Monday.

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Global stocks and the pound climbed Monday as markets reacted to the news that former finance minister Rishi Sunak would become Britain's new prime minister. European and American equities climbed despite data showing Britain and Germany headed for recession and a plunging Hong Kong stock market as Chinese President Xi Jinping handed key economic posts to loyalists behind his zero-Covid strategy.

Global stocks and the pound climbed Monday as markets reacted to the news that former finance minister Rishi Sunak would become Britain's new prime minister. European and American equities climbed despite data showing Britain and Germany headed for recession and a plunging Hong Kong stock market as Chinese President Xi Jinping handed key economic posts to loyalists behind his zero-Covid strategy. Wall Street also opened in the green on Monday, with sentiment boosted by hopes the Federal Reserve would soon slow its pace of interest rate hikes. Watch | UK: Penny Mordaunt backs out, Rishi Sunak to be the next UK PM × News that European gas prices were at a four-month low also spurred traders, as the reference Dutch TTF dipped below 100 euros for the first time since June, reaching 98.60 euros per megawatt hour at around 1030 GMT on Monday. All eyes were on Britain as Sunak was poised to become the country's third prime minister in less than two months following the resignations of Boris Johnson and Liz Truss. His last rival for leadership of the ruling Conservative party, Penny Mordaunt, dropped out of the race on Monday, clearing the way for Sunak to become prime minister after his failed bid earlier this year. "The pound started the week trading higher as many see the new potential PM as a source of some stability, particularly when compared to the chaotic term served by the Truss government which saw massive volatility across markets," noted XTB chief market analyst Walid Koudmani. "Many see Sunak as the final chance for the Conservative Party as he has managed to maintain some credibility" compared with the uncertainty of the Truss and Johnson premierships, he added. "Investors clearly hope Sunak will stabilise the economy and the political situation -- though it's hard to work out at this point which is the harder task," commented AJ Bell financial analyst Danni Hewson. Yields on UK government bonds also dropped following recent surges in the wake of Truss's disastrous budget that led to her downfall. Focus was also on the euro after new Italian Prime Minister Giorgia Meloni took office. Meloni's post-fascist Brothers of Italy scored a historic victory in general elections on September 25. Her new government is the most far-right in Italy since World War II, and takes power at a time of decades-high inflation and an energy crisis linked to Russia's invasion of Ukraine. Milan's stock market was up 1.3 percent in early afternoon trading on Monday, mirroring strong gains in Frankfurt and Paris, while yields on Italian government bonds also fell. London was up by 0.6 percent in mid-afternoon trading, but the stronger pound and falling oil and gas prices were weighing on the heavyweight energy sector, according to traders. The eurozone was meanwhile looking ahead to Thursday when the European Central Bank is expected to announce another bumper rise in interest rates aimed at curbing sky-high prices. On the corporate front, Dutch medical device manufacturer Philips announced it would axe 4,000 jobs after its recall of faulty sleep respirators pushed it into a loss. Following the news, the group's share price dropped 0.8 percent on the Amsterdam stock exchange on Monday. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Stocks, pound up as Sunak to become new British PM

Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.S. data for clues to the outlook for rates.

As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any perceived softening in sentiment on the part of policymakers.

After Thursday data showed the U.S. economy contracted in the second quarter, stocks rose as traders bet rates would rise more slowly. Euro zone numbers on Friday, meanwhile, beat expectations, yet recession fears are mounting as energy inflation continues to bite in the face of conflict in Ukraine.

The MSCI World index was last up 0.3%, on course for a near-6% monthly gain, its best since November 2020, buoyed by broad gains across European markets, with the STOXX Europe 600 up 0.9%.

U.S. stocks look set to gain at the open, with futures for the S&amp;P 500 and Nasdaq up 0.8% and 1.1%, respectively, with all eyes on fresh wages and consumer price data for clues to the health of the economy.

Despite the positive end to the month for stocks, Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said investors should proceed with caution.

"In the near term, we think the risk-reward for broad equity indexes will be muted. Equities are pricing in a 'soft landing', yet the risk of a deeper 'slump' in economic activity is elevated."

Some of that concern had been evident in Asian stock markets overnight, after Beijing omitted reference to its full-year GDP growth target following a high-level Communist Party meeting.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%.

News in the prior session that U.S. gross domestic product had shrunk 0.9% last quarter, to add to a 1.6% contraction in the quarter before that, weighed on the country's bond yields and the greenback, but both staged a partial recovery on Friday.

The yield on benchmark 10-year Treasury notes recovered slightly from its overnight lows to trade at 2.7029% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8703%.

After earlier flirting with positive territory, the dollar was last down 0.4% against a basket of its major peers - yet still on course for a second month of gains.

Futures markets now predict that U.S. interest rates will peak by December this year compared to June 2023 and the Federal Reserve will cut interest rates by nearly 50 bps next year to support slowing growth. [0#FF:]

Against the weakening U.S. backdrop, second-quarter GDP data from the euro zone beat expectations, up 0.7%, although growth in the region's biggest economy, Germany, lagged.

In response, Germany's 10-year bond yield - the benchmark for the euro zone - was last up at 0.89%.

Across commodities, Brent crude futures and U.S. West Texas Intermediate crude extended early gains and were last up around 2.3% as concerns about supply shortages ahead of the next meeting of OPEC ministers offset doubts around the economic outlook.

Gold gave back some of its early gains to trade up 0.4% to $1,759 an ounce, helped by the weaker dollar. 
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Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.

Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.S. data for clues to the outlook for rates. As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any perceived softening in sentiment on the part of policymakers. After Thursday data showed the U.S. economy contracted in the second quarter, stocks rose as traders bet rates would rise more slowly. Euro zone numbers on Friday, meanwhile, beat expectations, yet recession fears are mounting as energy inflation continues to bite in the face of conflict in Ukraine. The MSCI World index was last up 0.3%, on course for a near-6% monthly gain, its best since November 2020, buoyed by broad gains across European markets, with the STOXX Europe 600 up 0.9%. U.S. stocks look set to gain at the open, with futures for the S&P 500 and Nasdaq up 0.8% and 1.1%, respectively, with all eyes on fresh wages and consumer price data for clues to the health of the economy. Despite the positive end to the month for stocks, Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said investors should proceed with caution. "In the near term, we think the risk-reward for broad equity indexes will be muted. Equities are pricing in a 'soft landing', yet the risk of a deeper 'slump' in economic activity is elevated." Some of that concern had been evident in Asian stock markets overnight, after Beijing omitted reference to its full-year GDP growth target following a high-level Communist Party meeting. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%. News in the prior session that U.S. gross domestic product had shrunk 0.9% last quarter, to add to a 1.6% contraction in the quarter before that, weighed on the country's bond yields and the greenback, but both staged a partial recovery on Friday. The yield on benchmark 10-year Treasury notes recovered slightly from its overnight lows to trade at 2.7029% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8703%. After earlier flirting with positive territory, the dollar was last down 0.4% against a basket of its major peers - yet still on course for a second month of gains. Futures markets now predict that U.S. interest rates will peak by December this year compared to June 2023 and the Federal Reserve will cut interest rates by nearly 50 bps next year to support slowing growth. [0#FF:] Against the weakening U.S. backdrop, second-quarter GDP data from the euro zone beat expectations, up 0.7%, although growth in the region's biggest economy, Germany, lagged. In response, Germany's 10-year bond yield - the benchmark for the euro zone - was last up at 0.89%. Across commodities, Brent crude futures and U.S. West Texas Intermediate crude extended early gains and were last up around 2.3% as concerns about supply shortages ahead of the next meeting of OPEC ministers offset doubts around the economic outlook. Gold gave back some of its early gains to trade up 0.4% to $1,759 an ounce, helped by the weaker dollar.

World stocks eye best month since late 2020, dollar dips

Twitter stocks took a tumble on Monday (July 12) after Tesla chief Elon Musk withdrew his bid to buy the social media giant for USD 44 billion. On Wall Street, stocks of the platform dropped by 5.46 per cent to USD 34.80 by around 7:05 am (11:05 GMT). It had lost 5.10 percent before the weekend.

Musk pulled the plug on the deal of Friday. He has accused the company of 'misleading' statements about number of fake accounts, as per letter from his lawyers. A copy of the letter was file with the Securities and Exchange Commission (SEC)

The billionaire's latest move to pull out of the deal that was inked in April has paved way for epic court battle over billion-dollar breakup fee.

Twiitter says that the number of fake accounts is less than five per cent. The billionaire says that the number is much higher.

According to several US media, Twitter has hired prominent New York law firm Wachtell, Lipton, Rosen &amp; Katz. Twitter declined to comment to AFP.

After the news broke, Musk tweeted: "They said I couldn't buy Twitter. Then they wouldn't disclose bot info. Now they want to force me to buy Twitter in court. Now they have to disclose bot info in court," accompanied by pictures of him laughing.

For analyst Dan Ives at Wedbush Securities, "this is a 'code red' situation for Twitter and its Board as now the company will go head to head against Musk in a Game of Thrones court battle."

"We see no other bidders emerging at this time while legal proceedings play out in the courts."

(With inputs from agencies)

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Twitter stocks took a tumble on Monday (July 12) after Tesla chief Elon Musk withdrew his bid to buy the social media giant for USD 44 billion. On Wall Street, stocks of the platform dropped by 5.

Twitter stocks took a tumble on Monday (July 12) after Tesla chief Elon Musk withdrew his bid to buy the social media giant for USD 44 billion. On Wall Street, stocks of the platform dropped by 5.46 per cent to USD 34.80 by around 7:05 am (11:05 GMT). It had lost 5.10 percent before the weekend. Musk pulled the plug on the deal of Friday. He has accused the company of 'misleading' statements about number of fake accounts, as per letter from his lawyers. A copy of the letter was file with the Securities and Exchange Commission (SEC) The billionaire's latest move to pull out of the deal that was inked in April has paved way for epic court battle over billion-dollar breakup fee. Twiitter says that the number of fake accounts is less than five per cent. The billionaire says that the number is much higher. According to several US media, Twitter has hired prominent New York law firm Wachtell, Lipton, Rosen & Katz. Twitter declined to comment to AFP. After the news broke, Musk tweeted: "They said I couldn't buy Twitter. Then they wouldn't disclose bot info. Now they want to force me to buy Twitter in court. Now they have to disclose bot info in court," accompanied by pictures of him laughing. For analyst Dan Ives at Wedbush Securities, "this is a 'code red' situation for Twitter and its Board as now the company will go head to head against Musk in a Game of Thrones court battle." "We see no other bidders emerging at this time while legal proceedings play out in the courts." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Twitter stocks tumble after Musk pulls out of takeover deal

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