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It didn’t trim back its outlook despite economic challenges, including a slowing U.S. economy beset by historic growth in prices and the Fed’s aggressive rate increases. In Alphabet’s case, it looks like the Google parent’s results, while bad, weren’t quite as bad as feared.

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Nityanand Prabhu, executive director and business head of LIC MF, told PTI that it has set an internal target of garnering at least Rs 1,000 crore from the scheme during the primary subscription period. Total revenue from operations stood at Rs 71,934.66 crore, up 8.32 percent from Rs 66,406.45 crore in the year-ago quarter. Standalone revenue for the quarter Rs 8,005 crore, up 8.4 percent from the year-ago quarter. Damodaran’s assessment projects a potential downside of over 19 per cent for Zomato. For those who burnt their hands, Aswath’s latest blog is a lesson for a life time.

Asia Shares, Bonds Find Some Relief In Fed Messaging

Stocks were poised to open higher on a pivotal Wednesday morning. Investors are looking for what the Fed is going to say after its two-day meeting , and there are some key earnings on the schedule. Boeing reported before the bell, while Ford, Qualcomm and Facebook parent Meta are expected after the market close. This earnings season is replete with warnings about inflation and macroeconomic anxiety, but reports have largely been OK. About 70% of the 150-plus S&P 500 companies that have announced earnings so far have beaten Wall Street’s expectations, according to FactSet. Federal Reserve Chair Jerome Powell answers questions after the FOMC decided to raise the federal funds rate by 75 basis points.

  • In Alphabet’s case, it looks like the Google parent’s results, while bad, weren’t quite as bad as feared.
  • Meanwhile, bond yields are higher, as the U.S. 10-Year Treasury yield is now hovering around 2.82%.
  • Collective S&P 500 earnings for the second-quarter are forecast to grow by around 6.2% from last year, to a share-weighted $467.2 billion, but that pace is largely the result of record profits for the energy sector.
  • Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers.
  • Boeing also got a bounce after clarifying plans to restart deliveries of its 787 Dreamliner.
  • It’s likely that this downward trend will continue going forward as the Federal Reserve looks to raise interest rates to fight inflation.

Sign Up NowGet this delivered to your inbox, and more info about our products and services. Meta revenue estimates were a disappointment as it recorded its first-ever drop in quarterly Forex revenue. FTN Financial Chief Economist Chris Low weighs in after the Federal Reserve raised its benchmark interest rate by 75 basis points for the second straight month.

Economist Reveals What It Will Take To Put The Brakes On The Fed

The brokerage firm has retained the positive view on the auto sector. Among OEMs pack, they are positive on M&M, Tata Motors, Maruti Suzuki, Ashok Leyland and Escorts. Climbed 18% on Wednesday after the provider of solar power components reported impressive second-quarter growth metrics. A dovish Fed, alongside stronger-than-expected outlooks from Microsoft and Google, have stocks trading firmly higher into the Wednesday close. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session. TDOC stock plunged after the telemedicine specialist guided to the low end of full-year targets. Teladoc reported a huge Q2 loss due to a big impairment charge, though revenue slightly beat.

stock market news today

The total number of IIT aspirants this year is expected to top 22 lakh. But, with only 16,000 seats available across India’s 23 IITs, competition for every seat is intense. And since Kota churns out a large number of successful IIT aspirants every year, demand for the town’s classes and teachers has jumped post the pandemic. The company’s assets under management crossed a milestone of Rs 2,00,000 crore in the quarter and stood at Rs 2,04,018 crore as of June 30, 2022, growing by 28 percent.

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