Did Donald Trump wink first? It is apparent that pressure from home businesses and concerns over economic fallout of the tit-for-tat tariff war are making the US President take a step back in the cut-throat trade war. But then, as one analyst said, we have seen this film before, and it might be naive to think too much on the back of this headline!
STREET PULSE: Where we stand Stocks bounced worldwide, the dollar rebounded and safe havens retreated after the US delayed tariffs on some Chinese products. SGX Nifty traded 20 points higher in Singapore at 7 am (IST), signalling a possible rebound for Dalal Street after Tuesday's massive fall.
Read More  | Asian shares joined a global equities rally. MSCI's Asia-Pacific index (ex-Japan) rose 0.4%, KOSPI 1.2% and Nikkei 0.8%. |
| Wall Street rallied overnight. Dow rose 372 points, or 1.44%, the S&P500 42 points, or 1.48%, and Nasdaq 152 points, or 1.95% |
| Oil prices fell after industry data showed US crude inventories unexpectedly rose last week. Brent crude fell 35 cents to $60.95 a barrel while US oil slipped 46 cents to $56.64. |
| LOOK WHO'S |  |
Thaw. Is it?... US President Donald Trump on Tuesday backed off his Sept 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on US holiday sales. The move sent stocks sharply higher and drew cautious relief from retailers and technology groups. On Wall Street, market bellwether Apple soared 4.2% while Nasdaq gained 2%.
Read More | Back home, Sun Pharma earnings rose in double digits for first time in 2 years, signalling a likely pharma revival |
Morale Booster... The government will not operationalise the new CSR provisions in the recently-amended Companies Act that make violations punishable by jail, following intense lobbying by a jittery India Inc. The followup rules required to implement the provisions will not be issued, the government said.
Read More | FinMin may soon consult the Law Ministry on how best to provide relief to FPIs from the super-rich surcharge |
| Partial guarantee scheme for stressed NBFCs operationalised to let PSU banks buy assets and provide liquidity |
| WHO'S |  |
Slow, slower, slowest...
India's auto sales recorded their steepest fall in nearly two decades in July as weak consumer sentiments, fuelled by high vehicle ownership costs and sparse credit availability hit demand again. SIAM data showed vehicle sales last month dropped 18.71 per cent. Previously the sharpest decline of 21.81% was recorded in December 2000.
Read More Spoiler Alert!... Malls and restaurant owners are wary of RIL's 'first-day, first show' movie plan for premium Jio Gigafiber customers, which they said could impact the mall economy and jeopardise revenue streams. RIL said its first-day, first-show movie service will be launched in mid-2020.
Read More Meanwhile... The outlook for Indian real estate fell to a 21-month low in the quarter to June, indicating a significant decline in optimism regarding the performance of the sector in next six months, showed a joint survey done by Ficci, Nardeco and Knight Frank.
Read More 
Buy
No comments:
Post a Comment