Mon, Feb 26, 2024 7:34 PM
Gold trips as markets scale back US rate cut bets ahead of key data
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.
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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.
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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.
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