Page 12 - Us Fed News Today

"Benchmark indices ended the first week of 2024 with minor losses, and the midcap index ended the week with gains for the second consecutive week. Sectoral indices ended the week on a mixed note. Eight out of 12 sectors rose while four declined. The realty sector was the top gainer, rising more than 7%," Arvinder Singh Nanda, Senior Vice President of Master Capital Services, said.

The dollar index fell 0.4% to 102.0 after hitting 103.10 following the stronger-than-expected jobs report. That was the highest since mid-December. On the week however, the dollar gained 0.6%, on pace for its best weekly rise since early December.

Nomura predicts a 12% rise in Nifty to reach 24260 by 2024, based on 20x December 2025F earnings. Their fair value range is 18-21x, suggesting a 0-7% return during 2024.

Minutes of the Feds December 12-13 meeting released on Wednesday showed a growing sense among policymakers that inflation was under control and rising concerns about the risks that "overly restrictive" monetary policy may pose to the economy.

Asian currencies were trading weaker after US federal reserve meeting minutes indicated interest rates will remain elevated for longer

Investors should steer clear of stocks with questionable fundamentals in 2024 as these tend to fall more compared to those with strong fundamentals, when markets turn volatile.

As part of the portfolio readjustment for the year 2024, the brokerage prefers increasing exposure to largecaps (over smallcaps/microcaps). It would be better to tactically take home some profits in the broader market (read small/microcaps), it added.

A key recession indicator highlighted by Rosenberg is the inverted yield curve, which has been inverted for 13 months, the longest period since 1979-80.

The attacks on vessels in the Red Sea have led to a rise in shipping costs, while possibility of rate cuts by Fed has lifted sentiments.

Mumbai, Stating that the countrys external balances are stronger than expected on the back of strong inflows, a Wall Street brokerage on Tuesday projected