Global stocks are expected to outperform US equities in the next five years. A Bank of America survey reveals that most fund managers predict international stocks will be the top asset class. This forecast signals a potential shift from the long-standing dominance of US stocks. The S&P 500 is already underperforming global stocks this year, marking a significant change.
Vishal Mega Mart is set to join the FTSE Global Mid Cap Index on June 20, potentially attracting $115 million in inflows, according to Nuvama Alternative estimates. Following a 20% stake sale by promoters, the company is also eyeing inclusion in the MSCI Index in August, which could bring in an additional $225 million.
The Federal Reserve maintained interest rates. Officials anticipate two rate cuts next year. Economic uncertainty persists, though it has lessened. Growth estimates are lowered, while unemployment and inflation forecasts are raised. Seven officials now foresee no rate cuts this year. Investors await insights from Fed Chair Jerome Powell on Trump's policies and potential rate adjustments.
IndusInd Bank's stock witnessed a significant rise. This followed an upgrade by Nomura from 'Neutral' to 'Buy'. The upgrade comes after the bank faced accounting discrepancies. Nomura's target price suggests a substantial upside. The firm acknowledged the bank's commitment to improved governance. RBI's recognition of recovery efforts also boosted confidence.
An RBI investigation revealed lapses in Standard Chartered Bank's sale of complex derivative products, leading to accountability measures. Several employees from the forex derivatives desk have departed amidst intensified scrutiny. Bonuses for senior officials are withheld due to ongoing internal reviews and regulatory concerns regarding inadequate risk disclosures to clients.
'Buy the dips' is a strategy where investors take advantage of short-term market declines to buy stocks or ETFs at lower prices on the belief that the decline is temporary.
The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year.
