ECONOMIC SLOWDOWN
Consumption slowdown is forcing retailers to scale back & shut shop in unprofitable markets
Top retail chains like Reliance Retail, Shoppers Stop, and Spencer's are closing underperforming stores due to prolonged consumption slowdown. Reliance closed 249 stores, Spencer's exited North and South India. Companies are focusing on rationalizing networks and controlling costs to sustain operations amid weak demand and external challenges like heatwaves and elections.
US weekly jobless claims fall more than expected
Initial unemployment claims in the U.S. fell to 235,000 last week, better than expected, as weather and temporary plant closure impacts eased. Layoffs remained low, despite a gradual reduction in hiring due to the Federal Reserve's rate hikes. Meanwhile, continuous claims dropped slightly, indicating a steady labor market.
Top Chinese Communist Party body endorses comprehensive reforms to halt economic slowdown; highlights Xi Jinping's "core" leadership
China's Communist Party under President Xi Jinping's leadership adopts reforms aiming for socialist modernisation by 2035. Emphasis on building a high-standard socialist market economy and improving national security. Plans to strengthen military and enhance Party's leadership. Focus on economic growth and market efficiency.
Oil steadies as economic slowdown signals contend with US rate-cut hopes
The number of Americans filing new applications for unemployment benefits rose more than expected last week, while initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 243,000 for the week ended July 1.
China's GDP growth dips: Where is its economy headed?
China's GDP growth in the second quarter was 4.7%, below the expected 5.1%. The slowdown raises concerns about economic stability and calls for measures to stimulate growth. IMF projects a gradual slowdown in growth due to various factors including ageing population and property sector crisis. Policy meeting aims to outline strategies for promoting advanced manufacturing and boosting domestic consumption. Structural reforms are suggested to enhance productivity and address economic imbalances.
China's second-quarter GDP growth falls short of expectations
China's GDP grew 4.7% in Q2, after 5.3% in Q1. The National Bureau of Statistics cited weather, external uncertainties, and domestic challenges. Beijing aims for economic optimism at the third plenum. Trade tensions, property downturn, local debt, growth shift, 5.5% GDP target, ageing workforce, environmental challenges, Council on Foreign Relations, and China Economic Review impact the economy.
Motown, slowtown: Luxury car sales slow in line with broader slowdown in Indian auto market
Carmakers attributed the sluggish performance to a broader slowdown in the Indian car market, besides intense heat waves this summer, and an extended general election. Some experts also cited a shift in spending by the wealthy to experiences such as bespoke holiday itineraries.
Better placed than many for all market conditions: 8 non cyclical consumer stocks including unexpected ones with upside potential of up to 38%
But there is a high probability of the second one being true. There are many businesses where the argument of disposable income has been cited, but if one looks at long term trends, they have been finally able to do better, whether slower or faster growth. We take a look at such stocks which are non cyclical in nature which one must keep on watch list.
Asian stocks advance as S&P 500 closes above 5,500: Markets wrap
Market euphoria as S&P 500 hits records, Calvasina bullish. Job openings up, Fed's easing stance challenged. Eyes on US payrolls data for June update.
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
Wall Street closes subdued as investors sit, wait for inflation data
Tech stocks like Amazon surged as market volatility persisted. Atlanta Fed President hinted at rate cuts amidst narrowing inflation. Micron's revenue forecast met mixed reactions, reflecting ongoing market uncertainty.
Inflation, Fed meeting to give clues for US market direction
Investors await next week's inflation data and Fed meeting for signals on stock market trajectory amid conflicting economic signals. S&P 500's 12% YTD rise hinges on Fed's ability to manage inflation without hampering growth.
Wall St Week Ahead-Inflation, Fed meeting to give clues for US market direction
Political uncertainty may impact market stability. Early presidential debate raises concerns about 2024 election influence. Market attention shifts from economic data to political landscape.
After a 5% rally in 2 days, ITC earns a downgrade. Here's why
Emkay Global downgraded ITC to 'add' at Rs 460 citing near-term pressures like margin stress. Analysts' recommendations from Trendlyne data show 31 buy, 2 hold, and 1 sell. ITC shares yielded negative returns recently.
Haryana Exit Polls 2024 Live Updates: BJP to dominate Haryana with 6-8 seats, predicts multiple exit polls
Haryana2024 Exit Polls Live Updates: The state of Haryana, ranking 18th in India's Lok Sabha seat allocation, has ten seats. Out of these, nearly eight are unreserved, and two are reserved for SC candidates. The BJP had won all ten seats, building on their success from 2014 when they secured seven seats.
Election outcomes won't disrupt India's economic stability: Saurabh Mukherjea
There will probably be governance continuity as well, but almost certainly there will be policy continuity and hence, my point of view to the foreign investors is, beyond a point, you should not overemphasise the elections.
IMF revises China's GDP to 5% this year; growth may decelerate to 3.3 per cent by 2029, says Gita Gopinath
The 5 per cent growth revision by the International Monetary Fund (IMF) is in line with the target set by the Chinese government for the world's second-largest economy which is grappling with a slowdown triggered by the crippling property sector crisis and industrial overcapacity.
Indian students fail to land internships in US amid hire-local push
Indian students in the US, including those from Ivy League universities, face internship challenges amid job slowdown. Competition intensifies with scarcity of entry-level job opportunities, impacting job market competitiveness.
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