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1 / 10Anybody who looks at the US market screen this morning would not believe that this is a result of a near-1,000-point recovery on an intraday basis. The Dow Jones ended 120 points higher on Wednesday. At one point, the index was down 750 points. The S&P 500 recovered 150 points from the lows of the day to end 1% higher, while the Nasdaq also recovered 650 points from the day’s low to end with gains of over 2%.
2 / 10The inflation in the United States further eased in August, reaching a three-year low and paving the way for the Federal Reserve to cut interest rates next week. The data from the US Bureau of Labor Statistics showed that consumer prices rose 2.5% in August from a year earlier, down from 2.9% in July. It was the fifth straight annual drop and the smallest such increase since February 2021. From July to August, prices rose just 0.2%. Core inflation, however, came in hotter than expected.
3 / 10Nvidia Corp. Chief Executive Officer Jensen Huang, whose products have become the hottest commodity in the technology world, said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc. technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Shares ended 8% higher on Wednesday.
4 / 10Shares of Donald Trump’s social-media company tumbled on Wednesday following his debate against his presidential election opponent Kamala Harris. Trump Media & Technology Group Corp., which operates Truth Social and counts the presidential candidate as its top shareholder, shed 10% in its biggest one-day drop since June 28. The move comes as Trump’s odds of winning the election fell to 48%, according to data from betting market website PredictIt.
5 / 10The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of the US Fed beginning its own rate-cutting cycle. Traders are widely anticipating an interest rate cut at the Federal Reserve’s September 17-18 meeting, as well as at the ECB’s meeting this week.
6 / 10Global sales of fully electric and plug-in hybrid vehicles rose by a yearly 20% in August, driven by record high sales in China, and despite a 33% drop in Europe to its weakest month since January 2023, market research firm Rho Motion said on Thursday. Rho Motion expects this year’s sales in China, the world’s largest EV market, to rise by one third from last year to 10.5 million vehicles, while it sees European sales roughly in line with last year’s 3.1 million units, data manager Charles Lester told Reuters.
7 / 10We at CNBC-TV18 have been asking this question since the start of the week. Are the traders positioning themselves to use any bounce on the Nifty as a means to exit their positional longs? Well, something on similar lines played out on Wednesday as the Nifty witnessed selling pressure the moment it crossed 25,100 intraday. Today is also the weekly options expiry for the Nifty along with a host of events and data points to watch out for.
8 / 10The Government has launched a ₹10,900 crore PM E-Drive scheme that will replace Fame-II. The two-year scheme will provide subsidies on the purchase of electric two-wheelers, electric three-wheelers, electric trucks and buses as well as electric ambulances. The government has also approved the PM-eBus Sewa-Payment Security Mechanism scheme that will help roll out over 38,000 electric buses till 2028-29 with an outlay of over ₹3,435 crore.
9 / 10The three-day IPO of Bajaj Housing Finance closed on Wednesday with an overall subscription of over 67 times. The issue received bids for over ₹3.2 lakh crore, for a plan to raise just over ₹4,200 crore. The ₹4,200 crore number comes due to the fact that the company had already raised ₹1,758 crore from Anchor investors.
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