US Stocks Rise Amid Falling Yields, Musk Faces SEC Lawsuit, Oil Hits 5-Month High
January 15, 2025
On January 14, 2025, the S&P BSE Sensex climbed by 242.71 points, or 0.32%, reaching 76,570.83, while the Nifty 50 index rose by 102.82 points, or 0.45%, to settle at 23,183.10.
This upward movement in the Indian markets comes in the wake of a stronger-than-expected jobs report, which has tempered investor expectations regarding imminent interest rate cuts by the Federal Reserve.
In global markets, reactions were mixed; European shares advanced as investors processed UK inflation data, whereas most Asian stocks ended lower ahead of crucial US CPI inflation data.
Concerns about potential market bubbles in government bonds were raised by Chinese central bank official Zou Lan, complicating efforts to stabilize the yuan amid falling bond yields.
The GBP/USD currency pair has declined for six consecutive sessions, reflecting growing concerns over the UK's fiscal health and resulting in capital flight.
As global coal prices have dropped due to oversupply and weak demand in China, e-auction premiums are reported to be between 65-70% in the third quarter of FY25.
In the corporate sector, Sarda Energy & Minerals (SEML) saw a 6.33% drop following the announcement of trial production commencement for its hydro power project.
Meanwhile, Ubisoft has postponed the launch of 'Assassin's Creed Shadows' and is exploring strategic options, leading to speculation about a potential takeover.
The SEC has filed a lawsuit against Elon Musk, alleging he failed to properly disclose his Twitter ownership during his acquisition of shares at low prices, which could cost him $150 million.
In the energy sector, BP's stock fell by approximately 3.2% after the company warned of a potential $100-$300 million hit to fourth-quarter profits due to weaker refinery margins.
Finally, the U.S. dollar stabilized after a decline for the first time in six sessions, influenced by a recent tariff report.
Summary based on 93 sources