Tue, Feb 27, 2024 5:50 PM
OMC stocks off highs after Russia bans petrol exports for 6 months
A Flip by Shubhangi Gupta
US inflation is proving stubborn while consumer spending shows scant signs of any concerning slowdown, laying the groundwork for a more cautious approach to interest-rate cuts from the Federal Reserve. Even though inflation has dropped notably over the past two years, the government’s October consumer price report underscored the challenge facing Fed officials.
Open Flip
Nvidia shares ended lower last week, giving back around $150 billion in market value amid a broader selloff in rate-sensitive tech stocks ahead of the group's hotly anticipated third quarter earnings on Wednesday. Nvidia (NVDA) , which commands a near 80% share of the market for high-end AI-powering chips and processors, is finding that its biggest challenge isn't the technological advances.
Open Flip
After a lagged public offer, food delivery giant Swiggy delivered a powerful stock market debut, beating analysts' estimates. D-Street experts say the new-age tech stock is poised for a strong run on the bourses, similar to its rival Zomato, which is now a multibagger stock. After an intense competitive period (FY15-18) during which multiple food delivery offerings contended to stay afloat.
Open Flip
