Global Markets:
US Stocks Rise Ahead of Final Fed Meeting of 2023: Stock futures are slightly higher this morning as investors await the outcome of the Federal Reserve’s final policy meeting of the year. The Fed is widely expected to raise interest rates by another 50 basis points, but investors will be watching closely for any clues about the future path of monetary policy.
Ethiopia Holds Investor Call with Bondholders: Ethiopia will hold an investor call with its international bondholders at the end of this week, after announcing last Friday that it could not pay a $33 million bond coupon due on Monday. The government is seeking “broadly similar treatment” from the holders of its single $1 billion international bond maturing in December 2024.
COP28 Enters Final Stretch: The United Nations Climate Change Conference (COP28) is entering its final stretch in Dubai, with countries still at odds over fossil fuels. Some nations are calling for a complete phase-out of fossil fuels, while others are pushing for a transition to cleaner energy sources.
China Stocks Rebound: Chinese stocks rebounded today, as ETF volumes suggest buying by the state fund. This comes after a sell-off last week fueled by concerns about the economy and rising COVID-19 cases.
Other Top Stories:
Macy’s Receives $5.8 Billion Buyout Offer: Department store chain Macy’s has received a $5.8 billion buyout offer from a private equity firm. The deal is still in its early stages, but it could take Macy’s private if it is approved.
Harvard Psychologist: If You Use Any of These 7 Phrases, You ‘May Have Low Emotional Intelligence’: A Harvard psychologist has identified seven phrases that may indicate low emotional intelligence (EQ). These phrases include “I always knew I was right” and “I’m not going to apologize for that.”
Donald Tusk Eyes Thaw in EU Relations as Poland’s Prime Minister: Former European Council President Donald Tusk has indicated that he is open to a thaw in relations between Poland and the European Union. Tusk is a potential candidate to succeed Mateusz Morawiecki as Poland’s prime minister.
Local Markets:
Nifty Hits 21k High, Faces Bearish Pressure: The Indian stock market index Nifty hit an all-time high of 21,000 today before facing some bearish pressure. The Bank Nifty index also surged to 48,200, but analysts are warning of potential overbought conditions.
GMR Airports Infrastructure Jumps over 3%: Shares of GMR Airports Infrastructure jumped over 3% today after investment firm GQG Partners acquired a 4.7% stake in the company. Jefferies has maintained a “Buy” rating for the stock, with a target price of ₹1,600.
SIPs Continue to Grow: The Systematic Investment Plan (SIP) segment of the mutual fund industry continues to grow, as investors seek to invest in a disciplined and long-term manner. Experts believe that SIPs are a good way to build wealth over time.
This is just a brief overview of some of the top financial news stories for Monday, December 11, 2023. For more information, please visit your favorite financial news website or app.
