Sat, Nov 23, 2024 3:16 PM
Market capitalisation to GDP: Is the Buffett ratio giving us any signal?
A Flip by Shubhangi Gupta
Three Bank of America investment bankers in India have left the company as it probes allegations of wrongdoing over stock sales, a source familiar with the matter said. A whistleblower complaint alleged that Bank of America shared non-public information with some investors before it sold roughly $200 million worth of stock for some clients in India, according to a WSJ report in September.
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The health of the U.S. consumer and the retail sector will be in focus in the coming week, as Black Friday kicks off a holiday shopping season that could shed light on how buyers are grappling with higher prices. The benchmark S&P 500 rose 1.7% in the past week and approached all-time highs as investors digested the end of a solid third-quarter corporate reporting season.
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Equity markets recouped current week’s losses on the last trading session with a strong bounceback as investors used the bargain opportunity to accumulate beaten-down stocks. The strong rally on Friday meant that the benchmark Sensex closed the week nearly 2% higher. During the week, about 36 smallcap stocks have delivered double digit weekly returns.
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