Fri, Sep 20, 2024 2:43 PM
‘EY being targeted’: Long working hours a broader issue, says official
A Flip by Shubhangi Gupta
India's NSE Nifty 50 and S&P BSE Sensex are trailing only Wall Street's Nasdaq and S&P 500 as top-performing indexes this year, with analysts expecting the rally to extend into 2025.The Nifty and Sensex have gained 18.7% and 17% respectively in 2024, securing the third and fourth spots among major global bourses. The Nasdaq and S&P have added approximately 22% and 20.5%.
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European auto stocks are so unpopular right now that investors keep reducing their exposure even as the scale of the industry's problems has driven valuations close to record lows, which would normally be a big incentive for would-be buyers. The STOXX 600 Autos and Parts index is among this year's worst performers. Analysts predict a 13.6% earnings drop in 2024.
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As the Federal Reserve kicks off a long-awaited rate cutting cycle, some investors are wary that richly valued U.S. stocks may have already priced in the benefits of easier monetary policy, making it harder for markets to rise much further. Investors on Thursday cheered the first rate cuts in more than four years, sending the S&P 500 to fresh records.
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