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Representative image There’s a price to be paid for being early in investing even if you get the broader story right, as US stock market bears are learning the hard way. While recession remains a very real threat, data released Thursday confirmed that it could take several quarters for the US economy to run out of momentum. Gross domestic product increased at a 2.9% annualised rate in the last quarter of 2022, Commerce Department data showed, while a separate report showed that already low initial jobless claims declined. The latest reports come on top of evidence that households still have stockpiles of excess savings accumulated during the COVID-19 pandemic that could take months or longer to deplete. Meanwhile, the S&P 500 Index is up about 12% from its Oct. 12 low, and many investors have missed the bounce because they’ve been hunkering down ahead of the widely predicted recession. To be sure, it’s hard to look at Thursday’s numbers and conclude that the bears are … [Read more...] about US GDP and jobs data show the stock market bears are still early

Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in the Lok Sabha on February 1. Moneycontrol conducted a survey of 30 market experts, including fund managers, analysts, heads of research, chief investment strategists and officers to get responses on some important questions relating to the upcoming Union Budget . Increase in capex Sectors like infrastructure, railways, defence, public sector undertakings and renewables are expected to witness an increase in spending by the government. Also Read | Budget-sensitive stocks | How to play these ahead of the D-Day? Read More The market will be satisfied if there is an increase in capital expenditure (capex) by 15 percent for FY24, said 53.3 percent of the surveyed participants. Whereas, 43.3 percent believe this is worse than they expected and that they will be disappointed. On being asked about their reaction if capex is increased by 15-30 percent, 48.3 percent said … [Read more...] about Budget 2023 Expectations Survey: What the market thinks about increase in capex

There’s a caveman-sized gap in the wellness industry. Brian Johnson, better known as Liver King, has embodied the “ancestral living” movement for the past couple of years, his jacked, sunburnt, Caucasian physique defining the aesthetic for his millions of devotees, regardless of what their own actual ancestors may have looked like. Johnson’s Instagram and TikTok accounts, followed by more than 5 million people, showcase his ripped body—supposedly built solely through lengthy, grueling workouts and regular consumption of raw beef liver and testicles—and he has popularized certain phrases, such as “Why eat vegetables when you can eat testicles?” through a volume-forward posting strategy. His thriving retail operation, Ancestral Supplements, hawks desiccated cow liver and bull testicle capsules. His “Nine Ancestral Tenets,” a collection of nouns and verbs, are “sleep, eat, move, shield, connect, cold, sun, fight, and bond.” Today, Johnson is also the defendant in a … [Read more...] about After Liver King’s fall, the ancestral living movement will need a new dad

Under the OMSS policy, the government allows FCI to sell food grains, especially wheat and rice, at pre-determined prices in the open market from time to time to bulk consumers and private traders. The central government on January 24 approved a proposal to sell 30 lakh tonnes of wheat in the open market to control prices of wheat and wheat flour. "Offloading of 30 LMT wheat in the market through OMSS (D) scheme within a span of two months through multiple channels will have wider reach as well as immediate impact on the soaring wheat and atta (wheat flour) prices and will help contain the rising prices and will bring much relief to the common man," the Ministry of Consumer Affairs, Food & Public Distribution said in a statement. Earlier today, the Group of Ministers headed by Home Minister Amit Shah held a meeting to discuss the buffer stock position of the country. Last week, food secretary Sanjeev Chopra said that prices of wheat and atta had increased in the … [Read more...] about Govt approves proposal to sell 30 lakh tonnes of wheat in open market to control prices

Representative image. The market succumbed to major selling pressure on January 27, with the benchmark indices falling nearly 2 percent despite a positive trend in global peers, as participants turned cautious ahead of key events next week – Union Budget 2023 and the US Federal Reserve meeting. Bears took a strong lead for a second consecutive session, which resulted in a loss of Rs 11.75 lakh crore of wealth during 2 sessions, as the BSE market capitalisation fell from Rs 280.39 lakh crore, to 268.64 lakh crore as of 14:46 hours IST. The mayhem At the same time, the BSE Sensex plunged 1.93 percent, or 1,160 points, to 59,045, while the Nifty50 tanked 2.1 percent, or 375 points, to 17,517. The broader markets were also caught in the bear trap with the BSE Midcap and Smallcap indices declining 1.5 percent and 2.5 percent, respectively as breadth was largely in the favour of sellers. Nearly 5 shares declined for every share rising on the BSE. Read More All … [Read more...] about Indices down 2% as pre-Budget selling wipes off Rs 12 lakh crore investor wealth

Oil Crude oil prices rebounded on Wednesday as demand recovery hopes in top importer China following its exit from COVID-19 pandemic curbs provided support after prices dropped in the previous session on concerns about global economic growth. Brent crude futures gained 59 cents, or 0.7%, to $86.72 per barrel by 0214 GMT after falling 2.3% in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 46 cents, or 0.6%, to $80.59 per barrel, having dropped 1.8% on Tuesday. The economic worries were exacerbated by a bigger-than-expected build in U.S. oil inventories that was reported after the market settled on Tuesday. U.S. crude stocks rose by about 3.4 million barrels in the week ended Jan. 20, according to market sources citing American Petroleum Institute figures on Tuesday. That was triple the build of about 1 million forecast in a preliminary Reuters poll on Monday. "But the build is expected to be temporary as the supply disruptions from a cold … [Read more...] about Oil rebounds as China demand recovery optimism supports prices

With the past rate increases playing out in full force and inflation losing its sting by the day, there is a great deal of interest in tracking growth dynamics and the ideal asset allocation for investors (Representative image) The billion-dollar question uppermost in everyone’s mind is: How will the Budget 2023 turn out? Can it live up to everybody’s expectations? Will it go the populist way, given the fact that it’s the last full-year budget before the 2024 Lok Sabha elections? Speculation is rife. The grapevine has it that the government is pretty much mindful of the high interest rate environment and will do every bit to focus on fiscal consolidation and make sure the sovereign cost of... … [Read more...] about Business in the Week Ahead (January 30-February 3, 2023)

U.S. crude inventories edged up by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20 (Representative image: Reuters) Oil prices rose more than 1% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data . Brent futures rose $1.18, or 1.4%, to $87.30 a barrel by 11:42 a.m. EST (1642 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.12, or 1.4%, to $81.27. Earlier in the session, WTI was on track for its highest close since Nov. 16. Currently, however, both Brent and WTI were on track for their highest closing levels since Jan. 23. "WTI is deriving some support from liquidation of NYMEX (New York Mercantile Exchange) crack spreads as products begin to shift focus" from bullish supply disruptions in December to weaker demand, analysts at energy consulting firm Ritterbusch and Associates said in a note. U.S. crack spreads – measures of refining profit … [Read more...] about Oil up 1% as positive US economic data, China reopening boosts demand optimism

In parts of rural Colorado, where the cattle and antelope often far outnumber the people, doctors are few and far between. To help fill that gap in health care coverage, the federal government started a program more than five decades ago catering to rural residents, one free checkup at a time. The Colorado Area Health Education Center does community outreach events around the state, including free health screenings at the National Western Stock Show during its two-week run this month. The program in Colorado was founded in 1977, and “we’ve been going ever since,” said Josina Romero O’Connell, the state’s AHEC director. The federal government started the overarching AHEC program six years earlier in an attempt to address health care disparities in rural regions of the U.S. It then expanded state by state. Colorado’s rural areas make up about 12% of the state’s total population, with 47 of its 64 counties considered rural or “frontier” — a designation indicating a … [Read more...] about Colorado rural residents facing hurdles to health care get assistance from a program

Share to Twitter Share to Linkedin What Happened Yuga Labs, the creators of the successful NFT collections the Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherside metaverse, has launched its first Web3 game called Dookey Dash. Holders of Bored Apes and Mutant Apes were able to mint free “sewer passes” which are NFTs required to play the game. In total, 23,390 passes were issued across four tiers of holders, with higher tiers receiving in-game bonuses and access to exclusive content. The top tier passes were issued to wallets holding both Bored Ape and Kennel NFTs, and the bottom tier were sent to wallets holding a Mutant Ape NFT. Dookey Dash went live on January 19th and will only remain playable for three weeks, through February 8th. The game is an “endless runner” style experience reminiscent of the popular mobile game, Temple Run, and the gameplay entails dodging obstacles and collecting special items. The more … [Read more...] about NFT Blue Chip Yuga Labs Dives Into Web3 Gaming, But Speculative Frenzy Could Leave Some Investors Hurting