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Top Wall Street bank pitches options play to ride potential Indian rupee rally to 83
Economic Times
·
1m ago
Medial
Goldman Sachs is recommending an options play on the Indian rupee, betting on its appreciation to 83 per U.S. dollar over nine months. This speculation is supported by India's improving economic fundamentals, foreign inflows, lower oil prices, and potential U.S.-India trade deals. The bank suggests buying a 9-month USD/INR binary put option with a strike price of 83, anticipating benefits from India's economic growth and potential trade developments.
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Nvidia rallies as Wall Street anticipates pivotal report
Economic Times
·
1y ago
Medial
Nvidia's shares have more than tripled this year, with the chipmaker at the center of a Wall Street technology rally fueled by optimism about the potential of AI. A lot of market shift and sentiment in AI funding is dependent on Nvidia's shares' performance.
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Nvidia earnings could spark $200 billion swing in shares, options show
Livemint
·
1y ago
Medial
Options traders are expecting a big move in Nvidia's stock after the company reports its earnings. Data shows that options are predicting an 8.7% swing in either direction, translating to a potential market cap swing of $200 billion. However, this expectation is more muted compared to previous quarters, with an average move of 12%. Nvidia, considered a bellwether of the AI industry, has seen significant gains this year and is expected to drive 9% of S&P 500 earnings growth in the next 12 months. Wall Street is eagerly awaiting the company's quarterly report.
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In the city, personal safety starts with your smartphone
Livemint
·
1y ago
Medial
The Wall Street Journal highlights the use of technology tools for personal safety in the wake of rising crime rates in the US. The article mentions various apps and features available on smartphones, such as Apple's Check In feature, which allows users to notify a chosen contact when they've reached their destination safely. The piece also mentions location tracking options like Apple's Find My network, as well as safety features on ride-hailing apps like Uber and Lyft. It goes on to discuss the use of self-defense products like tasers and pepper sprays, although it acknowledges that these tools have limitations and should not replace personal awareness and decision-making.
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Hedge funds gain little from rally sparked by US-China trade deal
Economic Times
·
2m ago
Medial
Hedge funds experienced minimal gains from a significant Wall Street rally driven by a U.S.-China trade agreement, according to a Morgan Stanley report. On Monday, hedge funds rose just 0.60% versus the S&P 500's 3.23% gain. Global portfolios have shifted away from U.S. investments due to trade war uncertainties, increasing bearish positions. Despite technology and AI stocks surging, hedge funds' reduced exposure to these sectors limited their profit from the rise.
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Wall Street just can't get enough of Nvidia
Business Insider
·
1y ago
Medial
Wall Street is buzzing with excitement over Nvidia as the chipmaker's market value surpasses Amazon and Google. Traders anticipate a potential 11% swing in Nvidia's shares following its upcoming earnings report. Several high-profile investors, including Bridgewater Associates and Fisher Investments, increased their stakes in Nvidia. However, concerns linger among others, such as David Tepper and Jim Chanos, who have trimmed their positions. The stock has experienced a significant surge, pushing Nvidia's valuation to $1.83 trillion and establishing it as a dominant player in the Big Tech market. AI-driven advancements have contributed to the rally, with Nvidia's GPUs being crucial for powering large language models like OpenAI's ChatGPT.
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Tech, autos boost Japan's Nikkei as trade war worries ease
Economic Times
·
3m ago
Medial
Japan's Nikkei share average rose to a three-week high, driven by a tech-led rally in Wall Street and easing trade war concerns between the US and China, as the White House signaled a willingness to de-escalate tensions. Auto shares, including Toyota, rose following reports that tariffs might be exempted for car companies. Chip shares also gained, with Nintendo and Fanuc posting strong results. However, concerns remain about companies withholding full-year guidance amid global trade uncertainties.
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Uber forecasts upbeat second quarter on steady ride-hailing, delivery demand
Economic Times
·
3m ago
Medial
Uber forecasts robust second-quarter performance, exceeding Wall Street expectations, driven by strong demand for ride-hailing and food delivery services. The company anticipates gross bookings between $45.75 billion and $47.25 billion. Despite a 14% rise in total revenue, Uber's numbers slightly missed expectations. The firm expects second-quarter adjusted earnings between $2.02 billion and $2.12 billion. Accelerating into autonomous driving, Uber is strengthening ties with partners like Waymo, contributing to a 42% stock surge in 2023.
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Uber forecasts gross bookings for second quarter below expectations
Economic Times
·
1y ago
Medial
Uber reported weaker-than-expected first-quarter gross bookings and forecasts for its second quarter, indicating a slowdown in its ride-share and food delivery services. However, the company's profit growth initiatives have shown positive results, with first-quarter core profit surpassing Wall Street expectations. In comparison, rival Lyft reported strong results and projected a robust quarter, citing industry-wide ride-share demand growth and user-friendly features. Uber, with a wider global presence and a range of services, including logistics, expects adjusted core profit for the second quarter to be between $1.45 billion and $1.53 billion. Gross bookings are predicted to be around $38.75 billion to $40.25 billion.
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US investigating Meta for role in drug sales: report
Economic Times
·
1y ago
Medial
U.S. federal authorities are investigating the potential involvement of Meta Platforms in the illegal drug trade, according to the Wall Street Journal. The investigation focuses on the sale of drugs facilitated through the platform. Meta Platforms, previously known as Facebook, is under scrutiny as authorities seek to uncover any potential connections to the illegal drug market.
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RBI Taps global counterparts for efficient cross-border digital currency transactions
Inc42
·
1y ago
Medial
The Reserve Bank of India (RBI) is collaborating with the US, Hong Kong, and the Society for Worldwide Interbank Financial Telecommunications (SWIFT) to explore fast and cost-effective digital cross-border settlements using central bank digital currencies (CBDCs). The RBI's internal working group is examining technological options to establish a roadmap for direct transactions between countries. RBI Governor Shaktikanta Das has emphasized the potential of CBDCs to facilitate efficient and faster cross-border payments in an increasingly technology-driven world. The RBI has already launched pilots for its CBDC, the digital rupee, in both wholesale and retail segments.
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