DIRS.INFO The most relevant business & tech news

☆ RBI Governor: 7.5% GDP growth for India is sustainable
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBI Governor: 7.5% GDP growth for India is sustainableThe Governor of the Reserve Bank of India, Shaktikanta Das, joins CNBC's Tanvir Gill in an exclusive interview to discuss India's long-term growth trajectory.

Persons: Shaktikanta Das, Tanvir Gill Organizations: Reserve Bank of India Locations: India

☆ India's Bajaj Housing Finance sees shares more than double on debut after stellar IPO
▼ + stars: | 2024-09-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Shares of India's Bajaj Housing Finance more than doubled Monday on their market debut, reflecting strong demand from investors looking to play the country's growing real estate sector. Bajaj Housing Finance's blockbuster IPO last week drew bids worth $39 billion, with shares being oversubscribed nearly 64 times. After Monday's debut the total market cap of the company was pegged at about $15.6 billion (1,331.59 billion rupees), exchange data showed. Bajaj Housing Finance, headquartered in Pune, caters to more than 88.11 million customers across the country, according to the company's website. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes.

Organizations: India's Bajaj Housing Finance, National Stock Exchange, Bajaj Housing, Bajaj Housing Finance, Bajaj Finance Locations: India, Pune

☆ Jim Cramer: 'Don't freak out' about Fed rate-cut size, focus on stocks that benefit
▼ + stars: | 2024-09-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Monday that investors shouldn't panic over the size of the Federal Reserve's expected interest rate cut this week. Instead, they should focus on the stocks that will benefit from the easing monetary policy. He stressed, "What matters is we're in a rate cut cycle. In a rate cut cycle, you buy a lot of stocks that … should really start accelerating because they've been hurt." When central bankers announce their next policy move, Cramer said that there will likely be some market volatility regardless of the size of the reduction.

Persons: CNBC's Jim Cramer, Cramer, Stanley Blacker, Decker, Stanley Black Organizations: Stanley, Trust, CNBC Locations: U.S, Cramer's

☆ Morgan Stanley lays out the stock market's best-case scenario for this week's Fed decision — and 2 areas to buy after the cut
▼ + stars: | 2024-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Ideally the Fed will cut rates by a half-point without triggering growth worries, Morgan Stanley says. According to new research from Morgan Stanley, that would be the best possible outcome for stocks. Ahead of the rate cut, Morgan Stanley suggested that investors increase exposure to two stock cohorts that have historically outperformed in similar environments: defensive and high-quality. Defensive stocks include sectors such as utilities and consumer staples — groups that are less reliant on macroeconomic conditions to perform well. Large caps also tend to outperform small caps both before and after the Fed's first rate cut.

Persons: Morgan Stanley, Mike Wilson, —, Morgan, cyclicals, Wilson Organizations: Service, Federal Reserve

☆ It's a big week for central banks around the world, with a slew of rate moves on the table
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.

Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan

☆ 5 things to know about billionaires, from a personal assistant to the uber-wealthy
▼ + stars: | 2024-09-16 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Now, he places personal and executive assistants with CEOs, billionaires, and celebrities. Here are five things to know about billionaires, according to a billionaire whisperer. Brian Daniel worked as a personal assistant for ultra-high-net-worth clients — including members of the royal family of Saudi Arabia. "A lot of billionaires like bragging rights, where they want access to things that other people can't get access to." Advertisement"They can afford to pay the bill to have the celebrities come to their parties and be on their yachts," Daniel said.

Persons: —, They're, Brian Daniel, he's, Warren Buffett, there's, Daniel, Damien Hirst, Jeff Bezos —, they're, doesn't, they've, I've, didn't Organizations: Service, Business Locations: Hollywood, Saudi Arabia, Europe

☆ Goldman Sachs sees S&P 500 at 6,000 in 12 months, gives basket to play lower rates
▼ + stars: | 2024-09-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The Wall Street investment bank sees the S & P 500 rising about 6% to 6,000 in the next 12 months from Friday's close of 5,626.02. "Resilient economic growth should lead to modestly higher bond yields while continued earnings growth drives modestly higher equity prices," David Kostin, Goldman's head of U.S. equity, said in a note to clients on Friday. Wall Street is counting on lower corporate and consumer borrowing costs to boost earnings growth and stock prices. With multiples flat, EPS growth will lead the S & P 500 modestly higher." Goldman believes stocks with a "long duration" could outperform in a falling interest rate environment.

Persons: Goldman Sachs, Goldman, David Kostin, Kostin, Russell, Goldman's Organizations: Federal Reserve, Electric, Rivian Automotive, Lucid, Costco Wholesale Locations: U.S, Friday's

☆ Oil prices inch up on Fed rate cut outlook
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by U.S. supply resumptions following Hurricane Francine and weaker China data. Brent crude futures for November were up 15 cents, or 0.2% at $71.76 a barrel at 0015 GMT. U.S. crude futures for October were up 23 cents, or 0.3%, at $68.88 a barrel. Still, nearly a fifth of crude oil production and 28% of natural gas output in the Gulf of Mexico remain offline in the hurricane's aftermath. A key factor that will dominate the market this week is how aggressive a rate cut the U.S. Federal Reserve will deliver following its Sept. 17-18 meeting.

Persons: Francine, Donald Trump, Benjamin Netanyahu, Israel Organizations: Brent, U.S . Federal, FedWatch, ANZ, Republican Locations: Tatarstan, Russia, U.S, China, Mexico, Gulf, Florida, Iran, Israel

☆ Gold keeps rising to record after record. How to play it from here with options
▼ + stars: | 2024-09-16 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Gold is at a new record around $2,610 per ounce — more than ten times the low of just over $253 per ounce in 1999. @GC.1 ALL mountain Gold futures, long term Physical gold holders typically retain their assets through market fluctuations. The fundamental case A notable exception has been Saudi Arabia, which has historically acted as a liquidity source by buying gold when prices fell and selling as prices rose. In 2023, central banks purchased 1,037 metric tons of gold, with China buying nearly 225 tons, the largest amount since 1977. The trade As an alternative to buying gold directly, one could consider purchasing a longer-dated call option and selling a nearer-dated strangle to offset decay on the SPDR Gold Shares (GLD) , which tracks the price of gold.

Persons: Carter Braxton Worth Organizations: CNBC, NBC UNIVERSAL Locations: U.S, Saudi Arabia, China, Central

☆ I got my green card after working at Microsoft on an H-1B visa. The process was very painful, but I love the US and don't plan to leave.
▼ + stars: | 2024-09-16 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

I applied for a green card after working on my H-1B visa for a year. By this point, I had lived in the US for about six years and created a whole life here, but the green card process was very painful. The process makes life pretty horribleHaving a work visa and going through the green card process are privileges, but it is very hard to separate the emotional component. Luckily, Microsoft paid for the attorneys in the green card process, and no cost came out of my pocket. In 2022, I finally received my green card after three years.

Persons: —, Andres Pico, I'm, Lauryn Haas Organizations: Service, Business, ACT, University of South, of Hispanic Professional Engineers, Virginia Tech, Microsoft, Verizon, Deutsche Bank, Disney, Starbucks, lhaas Locations: Seattle, Manta, Ecuador, University of South Florida, Tampa

☆ Donovan: Political violence generally doesn't influence election outcomes.
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDonovan: Political violence generally doesn't influence election outcomes. Paul Donovan, Chief Economist at UBS Global Wealth Management and a member of the bank's Election Watch 2024 research team, believes political violence, like assassination attempts, generally doesn't influence election outcomes.

Persons: Donovan, Paul Donovan Organizations: UBS Global Wealth Management

☆ This 'back of the napkin math' shows whether you could have a surprise tax bill, expert says
▼ + stars: | 2024-09-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If your gross income and tax situation has not changed from last year, you are likely to owe a similar amount for 2024, Lucas explained. If you have paid roughly 75% of last year's total taxes by the end of September, "you're going to be pretty darn close, assuming everything is the same as the prior year," he said. In those scenarios, you will need a more in-depth analysis to double-check your 2024 withholding, he said. IRS tax withholding estimatorIf your tax situation changed this year, experts recommend periodically using a free tool from the IRS, known as the "tax withholding estimator." watch nowAlternatively, you could make payments directly to the IRS to cover your 2024 tax shortfall, Lucas said.

Persons: Lucas, you've, Mark Steber, Jackson Hewitt Organizations: Bank, Getty, IRS

☆ European markets set to open higher ahead of bumper week for central banks
▼ + stars: | 2024-09-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

A view of the Navigli in Milan, Italy on May 20, 2024. LONDON — European stocks were set to open higher Monday as investors prepared for a bumper week of interest rate decisions from the U.S Federal Reserve and the Bank of England. The FTSE 100 was seen opening 4 points higher at 8,278, Germany's DAX up 27 points at 18,713, France's CAC 7 points higher at 7,468 and Italy's FTSE MIB up 30 points at 33,583, according to IG data. The pan-European Stoxx 600 closed higher on Friday and added 1.09% for the week as positive momentum returned to the market. With a U.S. rate cut now all but guaranteed, investors are waiting to see by how much the Fed will cut rates on Wednesday, and what guidance chair Jerome Powell will give on the future path for monetary policy.

Persons: Germany's DAX, Jerome Powell Organizations: LONDON, U.S Federal Reserve, Bank of England, CAC Locations: Milan, Italy

☆ Here are the stocks that win when the Fed cuts rates with no recession
▼ + stars: | 2024-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Fed funds futures have fully priced in that the central bank will lower interest rates, according to CME's FedWatch tool . Many now expect the Fed will achieve the coveted "soft landing" outcome, which means inflation is curbed without tipping the economy into a recession. Rate cuts without a recession has historically been a positive mixture for stocks. Given this backdrop, CNBC Pro screened for names that have performed nicely in past periods where the Fed pulled rates lower without the U.S. economy tipping into a recession. To find these companies, CNBC Pro searched the S & P 500 for members with the highest median gain one year after the Fed has cut rates without an official recession.

Persons: Genuity, LSEG, Paul Lejuez, WMT Organizations: Reserve, CNBC Pro, Nike, Dow Jones Industrial, Intel, Boeing, Walmart, Dow, Citi, Wall Locations: U.S, Rochester , New York

☆ Young, rich investors are making 2 key mistakes, says CFP and financial psychologist: They'll 'learn the hard way'
▼ + stars: | 2024-09-16 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

If you're looking to build wealth, traditional forms of investment aren't going to get you there — at least according to young, rich people. For younger wealthy investors, though, stocks come in behind seven other types of investments, including real estate, cryptocurrency, private equity and direct investment into companies. Klontz says that younger wealthy investors may be falling victim to some of the same cognitive biases that regular investors do — and it may be holding them back from maximizing their returns. Young people have ignored traditional advice 'for thousands of years'In general, it's not surprising that younger investors, regardless of wealth level, want to chart a different path than older generations. DON'T MISS: How to master your money and grow your wealth Older investors tend to favor the returns offered by stocks, because that is what has historically delivered returns.

Persons: Brad Klontz, Klontz, it's, Everything's, They're Organizations: of America Private Bank, Wealthy, Creighton University

☆ KBW CEO Tom Michaud on the Fed's rate decision, state of banking sector and Basel III requirements
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKBW CEO Tom Michaud on the Fed's rate decision, state of banking sector and Basel III requirementsThomas Michaud, KBW president and CEO, joins 'Squawk Box' to discuss this week's Fed interest rate decision, what to make of the recent volatility in bank stocks, impact of new Basel III requirements on the banking sector, and more.

Persons: Tom Michaud, Thomas Michaud Locations: Basel

☆ Currencies listless as markets waffle over Fed rate cut
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +4 min

A quarter-point reduction by the Fed as it kicks off its rate cuts is still seen as the slightly more likely outcome, but only marginally so. Futures price a total of 125 basis points in rate cuts in 2024. Investors are also looking to the Bank of Japan's interest rate decision on Friday, when it is expected to keep its short-term policy rate target steady at 0.25%. Bank of Canada Governor Tiff Macklem meanwhile opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. The BoC, after keeping its key policy rate at 5%, a more than two-decade high, for a year, has trimmed it by a quarter point three times in a row since June.

Persons: Chris Weston, Fumio Kishida, Sanae Takaichi, Christine Lagarde, Philip R, Lane, Luis de Guindos Organizations: U.S, Bank of England, Bank of Japan, Treasury, Fed, FedWatch, Bank of, Liberal Democratic Party, Sterling, European Central Bank, ECB, Bank of Canada, Financial Times, BoC Locations: Japan, Asia, China, South Korea

☆ Bank of America sees rate cuts propelling gold to $3,000, and this stock is a way to play it
▼ + stars: | 2024-09-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Bank of America doesn't see gold's rally ending soon and thinks producer Gold Fields could benefit. A key asset for the metal producer is Chilean mine Salares Norte, which could increase growth through near-term gold production. "Salares Norte should be a highly cash generative asset and we think it could account for [about]. BofA also thinks lower Federal Reserve rates can drive gold to $3,000 by 2025. A longer-term catalyst includes Gold Fields' acquisition of Osisko Mining in August.

Persons: Gold, Jason Fairclough, Fairclough, BofA Organizations: America, Osisko Mining Locations: Chilean, Norte, Quebec

☆ Harris can chart her own path with the top regulators — and Big Business hopes she's on their side
▼ + stars: | 2024-09-16 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Chris Larsen, the billionaire founder of blockchain payments company Ripple who is among the execs to endorse Harris, told Business Insider he wants her to make different appointments if she wins. "The way that they have already been interacting with business leaders is a compelling indication of where things could go in the future," Levie told Business Insider. Kovacic previously told Business Insider that Harris' relationship to economic progressives like Warren remains unclear. "It's not as though they think she will simply be an agent of Big Tech," he previously told Business Insider. "In the next four years, we'll be dealing with major policy subjects that relate to the next many decades of innovation," he told Business Insider.

Persons: —, Joe Biden, hamstrung, he'd, Sen, Elizabeth Warren of, Biden, Warren, Warren's, Lina Khan, Gary Gensler, Kamala Harris, Khan, William Kovacic, That's, Harris, Adam Kovacevich, Elizabeth Warren, Kovacevich, Kamala Harris doesn't, Politico, winced, Aaron Levie, Arati Prabhakar, Chris Larsen, Larsen, Catalini, Gensler, Dallas Mavericks Mark Cuban, Levie, Kovacic, Obama, Douglas Farrar, we'll Organizations: Service, White, Democratic, Business, Federal Trade Commission, Securities, Exchange, George Washington University, of, Consumers Bank Association, Science, Technology, Bloomberg, MIT Cryptoeconomics, SEC, Dallas Mavericks, FTC, Democratic Party, Warren, Biden, Big Tech, Harris Locations: Elizabeth Warren of Massachusetts, Biden's, Harris, California, Gensler

☆ CNBC Daily Open: The real question isn’t the Fed’s first cut, but where it goes after
▼ + stars: | 2024-09-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC's Sarah Min breaks down how a rate cut could affect the S&P 500 . Welcome to U.S. rate cut week! Furthermore, jumbo hikes of 75 basis points were enacted between June 2022 to November 2022. But given that the rate cut has been so clearly telegraphed by the Fed, it's hard to imagine it not happening. This cut might not be big in terms of basis points, but it will be big in what it signals to markets.

Persons: It's, Sarah Min, Donald Trump, Rafael Barros, Cat Stevens, Aditya Bhave, CNBC's Pia Singh, Hakyung Kim, Brian Evans Organizations: Eccles Federal Reserve, CNBC, U.S . Federal Reserve, China's National Bureau, Statistics, Republican, Federal Bureau of Investigation, Secret Service, U.S, Federal, Fed, Bank of America U.S Locations: Washington , DC, Florida, U.S

☆ Fed Chair Powell is 'probably sympathetic' to a 50 basis point rate cut: JPMorgan's Kelsey Berro
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell is 'probably sympathetic' to a 50 basis point rate cut: JPMorgan's Kelsey BerroKelsey Berro, JPMorgan Asset Management fixed income portfolio manager, joins 'Squawk Box' to discuss the Fed's interest rate decision this week, what to expect from the central bank meeting, rate path outlook, state of the economy, latest market trends, and more.

Persons: Powell, JPMorgan's Kelsey Berro Kelsey Berro Organizations: JPMorgan, Management

☆ Axis AMC CIO: Banking earnings to "be more muted" this year
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAxis AMC CIO: Banking earnings to "be more muted" this yearAshish Gupta, CIO at Axis Mutual Fund sees a pickup in Indian IPOs in response to increased demand to invest in the Indian market, but a more muted earnings picture for banks as the Reserve Bank of India looks to cut rates in 2024.

Persons: Ashish Gupta Organizations: Mutual Fund, Reserve Bank of Locations: Reserve Bank of India

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, Oracle, Carvana, Micron, Sprouts, Zillow, Coca-Cola & more
▼ + stars: | 2024-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Alphabet as outperform Evercore says it's sticking with shares of the search giant. Morgan Stanley reiterates Micron as equal weight Morgan Stanley lowered its price target on the stock to $100 per share from $140. Morgan Stanley reiterates Tesla overweight Morgan Stanley says it's sticking with its overweight rating heading into Tesla's robotaxi day on Oct. 10. Morgan Stanley upgrades Ase Technology to overweight from equal weight Morgan Stanley said in its upgrade of Ase that the chipmaker's stock is defensive. Morgan Stanley upgrades Chart Industries to overweight from equal weight Morgan Stanley says the gas liquefication company has "significant exposure to both energy transition and renewables as well as traditional energy."

Persons: Evercore, Morgan Stanley, Tesla, Simon, Eaton, Wells, Pro Max, Carvana Evercore, Jack Sinclair, Curtis Valentine, Merchant Scott Neal, BTIG, Truist, Melius Organizations: DOJ, Micron, Technology, Industries, Citi, downgrades Colgate, Palmolive, CL, Barclays, GE, GE Vernova, JPMorgan, Apple, Pro, Ally, Mizuho, Oracle, " Bank of America, Nvidia, Bank of America Locations: Tesla's, Staples

☆ We are not artificially keeping the Indian Rupee strong, says RBI Governor
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are not artificially keeping the Indian Rupee strong, says RBI GovernorShaktikanta Das, Reserve Bank of India's Governor discusses the reasons behind Indian Rupee's relative stability against the U.S. dollar the past 2 years.

Persons: Shaktikanta Das Organizations: Reserve Bank, India's, U.S .

☆ Gold prices at all-time highs as traders eye deeper U.S. rate cut
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed to a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September. Gold prices surged to record highs on Monday, driven by a softer dollar and expectations of a larger interest rate reduction by the U.S. Federal Reserve this week. Spot gold was up 0.5% at $2,588.29 per ounce, as of 0551 GMT, after hitting an all-time high of $2,589.23 earlier in the session. This would be Fed's first rate cut since 2020. Zero-yield bullion tends to be a preferred investment amid lower interest rates and geopolitical turmoil.

Persons: Jerome Powell, Tim Waterer, Donald Trump Organizations: Federal, U.S . Federal Reserve, KCM, Bank of England, Bank of Japan, Republican, FBI Locations: China, Japan, Indonesia, Malaysia, South Korea

Search resuls for: "Best Local Bank Mechanics

25 mentions found