Tue, Oct 22, 2024 1:54 PM
Polycab Consolidated September 2024 Net Sales at Rs 5,498.42 crore
A Flip by Shubhangi Gupta
General Motors continued to defy Wall Street's expectations this year, posting third-quarter results ahead of analyst projections on the back of steady gasoline-engine truck and SUV sales and a focus on keeping inventories lean. GM is targeting annual earnings at the top end of its previous forecast, and Chief Financial Officer Paul Jacobson brushed off economic concerns for customers.
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Citigroup strategists warn that exposure to the S&P 500 has reached levels that previously led to a 10% slump, citing extended long positions in futures linked to the benchmark index. However, they note that investors are more optimistic about the macro outlook now, and profitable positions are less stretched compared to 2023.
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Asian stocks fell and the dollar neared multi-month highs as investors prepared for the U.S. election, with a bond sell-off and gold price surge indicating market caution. Asian markets, including Japan's Nikkei and Australia's S&P/ASX 200, declined, while the dollar stood firm against major currencies.
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