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<ul class="summary-list"><li>US stocks reached new records on Tuesday, led by gains in Nvidia.</li><li>A weak consumer confidence reading caused indexes to briefly drop early morning.</li></ul>US stocks kept up their winning streak on Tuesday, with indexes pushing higher to new records. The gains weren't locked in from the start, however, as early-morning economic data briefly drove the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> and <a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> index into the red.Investors reacted with dismay after the latest consumer sentiment reading, with confidence among US consumers logging its largest one-month drop in more than three years.The Conference Board's consumer confidence index came in at 98.7 for September, well below consensus estimates of a 104 reading."It's never good to see consumer confidence fall this much. Consumers are clearly concerned about the implications of the upcoming election, the increasing conflict around the world, and the stubbornly high cost of food and credit," said Jamie Cox, managing partner for Harris Financial Group."The Federal Reserve seldom reads the tea leaves correctly on when and how much to cut rates, but 50 seems more correct in light of these data."Markets appear to be in agreement, and the odds of a half-point cut in November climbed to 60.7%, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">CME FedWatch Tool</a>.However, after the dip, the market bounced back later in the day with a nearly 5% rally in <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> helping investors push past the discouraging consumer update. The chipmaker ended the day up by about 4%, jumping on news that its CEO Jensen Huang was done selling stock for now. Under a predetermined trading plan, the executive was authorized to sell 6 million Nvidia shares through early next year — but he just met that threshold, Barron's first reported.Outside of the US, emerging equity markets logged big gains. The <a target="_blank" href="https://www.businessinsider.com/chinas-stimulus-boosts-emerging-markets-stocks-2024-9">stocks hit their highest level since 2022</a> as China announced its biggest stimulus package to revive its ailing economy.Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,732.93, up 0.25% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,208.22, up 0.2% (+83.57 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,074.52, up 0.56% </li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://www.businessinsider.com/diddy-sbf-dorm-style-room-brooklyn-jail-crypto-ftx-2024-9">Diddy and crypto fraudster SBF are sharing a dorm-like jail cell</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-labor-employment-data-record-high-recession-forecast-2024-9?_gl=1*49z9pe*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzIwNTc4OC42NDkuMS4xNzI3MjA3ODI4LjYwLjAuMA..">Stocks could surge 10% by year-end as long as a recession doesn't materialize</a>, Citi said.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-prediction-dot-com-bubble-economy-inflation-outlook-yardeni-2024-9?_gl=1*18z25uq*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzIwNTc4OC42NDkuMS4xNzI3MjA3ODY1LjIzLjAuMA..">Steep rate cuts could overheat the US economy and create an unsustainable 'melt-up,' </a>Ed Yardeni says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-nightmare-scenario-is-no-landing-in-the-economy-2024-9">A 'no landing' economic scenario would be bad news for investors</a>, economist says.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up.<a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets"> West Texas Intermediate</a> crude oil jumped 1.71% to $71.56 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, increased 1.72% to $75.17 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 1.29% to $2,687.8 an ounce.</li><li>The 10-year Treasury yield was flat at 3.734%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> gained 1.55% to $64,305.</li></ul>

Stock market today: New record highs as Nvidia surge offsets weak consumer sentiment     

<ul class="summary-list"><li>Positioning in financial stocks is light relative to other sectors, Morgan Stanley says.</li><li>They see the group as underappreciated, and cite its exposure to ongoing economic strength.</li></ul>Investors are lingering in defensive trades that don't take advantage of the economy's ongoing strength, Morgan Stanley said, highlighting opportunities in underinvested sectors.The firm — which just last week upgraded cyclical stocks to "overweight" relative to defensives — highlighted the financials group as particularly attractive.Morgan Stanley said net exposure to financials is in the bottom 15th percentile of a historical data series that that goes back to 2010. And as the chart below shows, it's also the most lightly owned of any sector.<div type="image" title="A Morgan Stanley chart showing equity sector exposure." height="1448" width="2366" msid="114226247" hostid="261" sizebytes="104460"></div>But Mike Wilson, the bank's CIO and chief US equity strategist, sees a combination of headwinds that could lift financial stocks. "In our view, this creates opportunity in [the financial] sector that we upgraded to overweight last week given: rebounding capital markets activity, a better loan growth environment in 2025, an acceleration in buybacks post Basel Endgame re-proposal, and attractive relative valuation," he wrote.Bank stocks also have more attractive valuations after de-risking last month after large-cap dealers signaled caution on their operating environment in September. Morgan Stanley noted that this weakness lowered earnings-season expectations for investors, making it easier for major lenders to outperform forecasts.<a target="_blank" href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> and <a target="_blank" href="https://markets.businessinsider.com/stocks/wfc-stock">Wells Fargo</a> have jumped since publishing better-than-expected earnings reports last week. Since Friday's open, these banks are up 3.8% and 8.8%, respectively.Despite this, the market's appetite for financials hasn't yet materialized, Wilson found. But this isn't just limited to bank stocks — investors are also passing up on other cyclical sectors, concentrating exposure in defensive and quality names.Utilities, healthcare, and real estate — which are defensive plays — are among four sectors with the highest net exposure.According to Wilson, this shows that investors are still positioning themselves for a soft-growth scenario, which seems less likely given in light of recent macroeconomic trends.Though Morgan Stanley moved to neutral on cyclicals versus defensives late last month, it upgraded cyclicals to overweight last week after September's <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">jobs report surged past Wall Street forecasts</a>."As several key macro data points have come in better than expected (namely the jobs report and the ISM Services Index) following the Fed's 50bp rate cut, cyclicals have begun to show relative strength," Wilson said.At the same time, rates market yields are moving higher, indicating that growth concerns are falling.According to the note, cyclicals such as industrials, financials, and energy move up when yields rise, whereas defensive stocks are negatively correlated to higher rates.

Financial stocks are still being woefully underappreciated by investors, Morgan Stanley says

<ul class="summary-list"><li>JetBlue Airways announced plans to build its first-ever airport lounges.</li><li>The first lounge will come online at New York's JFK International next year with Boston to follow.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/jetblue-mint-business-class-apartment-studio-jfk-edinburgh-scotland-2024-5">JetBlue Airways</a> plans to build its first airport lounges, it announced Thursday.The new lounges, the first of which are set for New York's JFK International and Boston Logan International, are part of the New York-based carrier's continued push to bolster its premium <a target="_blank" class="" href="https://www.businessinsider.com/review-jetblue-mint-business-class-paris-lie-flat-seats-2023-7">Mint business class experience</a>."Customers have asked for a JetBlue lounge for years, and we can't wait to unveil our take in New York and Boston," Jetblue President Marty St. George said in a press release.The first lounge is set to open in New York in late 2025. The 8,000-square-foot facility will be located in Terminal 5, JetBlue's head of marketing, Jayne O'Brien, told Business Insider.In Boston, a larger, 11,000-square-foot facility would be located in the airport's Terminal B to C connector,<div type="image" title="JetBlue terminal 5 at JFK." height="4054" width="6082" msid="113501927" hostid="261" sizebytes="1089532"></div>Access to the new lounges will initially be limited to transatlantic Mint customers, holders of the airline's soon-to-be-announced premium credit card, and the highest tier (level 4) members of JetBlue's TrueBlue Mosaic loyalty program."Initially, we want to see how this goes and approach it very carefully so that we don't have overcrowded lounges and disappointed customers," O'Brien said of the decision to limit initial access to the lounge.<h2 id="84bbec34-9e1e-4b53-a327-2bf0a6c2224e">Lounges were a glaring hole in JetBlue's Mint experience</h2>JetBlue was established more than a quarter century ago as a single-cabin, low-cost carrier that delivered the comforts and service of a pricier mainline carrier.That changed in 2016 when the airline launched its first <a target="_blank" class="" href="https://www.businessinsider.com/comparison-jetblue-mint-business-economy-class-even-more-space-seat-2023-8">Mint premium business class cabin with lie-flat seats</a>.While <a target="_blank" class="" href="https://www.businessinsider.com/upgrade-to-jetblue-mint-business-class-cabin-worth-it-2024-6">Mint's in-flight product</a> has been very well received by critics and the traveling public, the lack of a dedicated airport lounge dampened the cabin's overall competitiveness.The airline has attempted to address this shortcoming by offering complimentary members to Priority Pass through its co-branded credit cards.JetBlue customers also briefly had access to American Airlines Admirals Club lounges through the carriers' Northeast Alliance partnership, which was dissolved in July 2023 after a federal judge ruled it violated antitrust laws.<div type="image" title="American Airlines JFK Airport Lounge" height="1666" width="2500" msid="113501930" hostid="261" sizebytes="216858"></div>According to O'Brien, the airline is taking a measured, wait-and-see approach to establishing additional lounges across the Atlantic or at its other major operational hubs in the US.<h2 id="b3146b00-52b9-4ee2-a44b-56e4033c3101">Loyalty is big business for airlines</h2>For the airline industry, loyalty extends beyond the benefits of return business.<a target="_blank" class="" href="https://www.businessinsider.com/airlines-rewards-programs-investigation-united-delta-american-southwest-2024-9">Selling frequent-flyer miles to credit card</a> companies to be offered as customer rewards has become a highly lucrative source of extra income for airlines in recent years.A major selling point for these airline credit cards, some of which can cost consumers more than $500 a year in fees, is <a target="_blank" class="" href="https://www.businessinsider.com/chase-airport-lounge-vs-amex-centurion-compared-laguardia-nyc-2024-9">the prospect of lounge access.</a>In 2023, Delta earned $6.8 billion from American Express, while American Airlines made $5.2 billion from its Citi Mastercards and other partners, for example.JetBlue generated just $422 million in loyalty-related revenue during that same period, helping pad an otherwise <a target="_blank" class="" href="https://www.businessinsider.com/why-airlines-are-struggling-despite-record-travel-demand-profits-revenue-2024-6">rough few months of financial performance. </a>With the new lounges in its arsenal, the airline will be better positioned to keep loyal customers coming back. It should also bolster the revenue generated from its <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/credit-cards/jetblue-plus-credit-card-review">JetBlue Mastercards.</a>"Our core, most valuable customers are telling us that lounges are important to them, so that is why we're doing this now," O'Brien said.

JetBlue is fixing its business class' biggest weakness by building its own airport lounges

<ul class="summary-list"><li>US indexes fell steeply Tuesday as weak manufacturing data prompted fresh fears about the economy. </li><li>The ISM Manufacturing index failed to meet expectations, and investors are now awaiting August jobs data. </li></ul>Stocks plunged Tuesday as manufacturing data chipped at confidence in the US economy.The <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> and <a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a> shed 2% and 1.5%, respectively. The tech-heavy Nasdaq tumbled over 3%, as a sharp drop in <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> compounded the index's decline.Tuesday's fallout marks the worst day for stocks since the market meltdown in early August and offered a grim introduction to September, which is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-season-fed-cuts-election-investing-2024-8?mrfhud=true">historically a bad month for the stock market</a>. A weak manufacturing print intensified pressure on Tuesday's sell-off, as the ISM Manufacturing Purchasing Managers Index failed to meet expectations. The index rose 47.2% in August, under 47.9% consensus forecasts."Manufacturing employment shrank for the third consecutive month as manufacturing activity slowed in recent months. Although the manufacturing sector holds a smaller portion of the macro economy now than in previous cycles, investors should still position themselves for a broader slowdown throughout the balance of this year," LPL Financial chief economist Jeffrey Roach said.As wavering manufacturing activity amplifies fears that the US may be facing a cooldown, investors have more reason to hope for a strong payrolls report on Friday.All eyes are on this jobs print, and any surprise in the labor data could make or break the soft landing narrative.Currently, economists anticipated that the US added 162,000 jobs last month, which suggests that the unemployment rate will edge down modestly from 4.3% to 4.2%.If forecasts are correct, the Federal Reserve should be able to cut interest rates by a gradual quarter point in its upcoming September meeting. But a weaker-than-expected payrolls print would prompt the bank to slash rates by more than the market is currently pricing in.Non-equity assets also suffered on Tuesday. While oil prices tumbled, the 10-year Treasury yield shed six points to 3.846%. Investors may need to brace for more volatility ahead, as September is famously a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-season-fed-cuts-election-investing-2024-8?utm_medium=ingest&amp;utm_source=markets">challenging month for stocks</a>.Here's where US indexes stood shortly after the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,528.93, down 2.12%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,936.93, down 1.51% (-626.15 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,136.30, down 3.26%</li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-prediction-nvda-sell-stock-market-inflation-rates-outlook-2024-9">Nvidia is flashing a sell signal,</a> veteran strategist Bill Blain warns.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-outlook-election-rate-cuts-jobs-tom-lee-2024-9">Stocks are set to drop as much as 10% in the next 8 weeks</a>, Fundstrat's Tom Lee warns.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/gold-price-outlook-buy-continued-rally-next-year-2025-goldman-2024-9">3 reasons to buy up gold ahead of a 2025 rally</a>, Goldman Sachs says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/fed-interestrate-cuts-stock-market-bull-run-upside-outlook-jpmorgan-2024-9">Investors might be overestimating how far stocks will reach when the Fed cuts rates</a>, JPMorgan says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-prediction-yen-carry-trade-bank-of-japan-rates-2024-9">Last month's stock market turmoil could repeat once rates rise in Japan</a>, Societe Generale says.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil shed 4.38% to $70.33 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, plummeted 4.86% to $73.75 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> stayed essentially flat at $2,523.1 an ounce.</li><li>The 10-year Treasury yield dropped six points to 3.846%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> shed 0.66% to $58,077.</li></ul>

Stock market today: Nasdaq drops 3% as weak manufacturing data renews US growth fears

Amid questions on the depleting <keyword id="20776807" type="General" weightage="100" keywordseo="loan-to-deposit-ratio" source="keywords">loan-to-deposit ratio</keyword> in <keyword id="19895091" type="General" weightage="20" keywordseo="Indian-banks" source="keywords">Indian banks</keyword>, a recent report by <keyword id="19896146" type="General" weightage="20" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="269" meta.entityid="Motilal Oswal">Motilal Oswal</keyword> suggests that the loan-to-deposit (LD) ratio is likely to subside on its own in the coming months. The debate on loan-to-deposit ratio (LD), particularly concerning sluggish <keyword id="19998084" type="General" weightage="20" keywordseo="deposit-growth" source="keywords">deposit growth</keyword> and potential risks to <keyword id="20089808" type="General" weightage="20" keywordseo="financial-stability" source="keywords">financial stability</keyword> is raised by even the finance minister and the <keyword id="20151998" type="General" weightage="20" keywordseo="RBI-governor" source="keywords">RBI governor</keyword>. However, the report notes that on closer examination, the situation may not be as alarming as it seems. As of 9th August, 2024 the Indian <keyword id="19964544" type="General" weightage="20" keywordseo="banking-sector" source="keywords">banking sector</keyword>'s loan-to-deposit (LD) ratio stood at 77.2 %, which is slightly below its recent peak of 78.2 % on 22nd March 2024, and its all-time high of 78.8 % in September 2013. The report stated that typically a rising LD ratio is indicative of a tightness in the banking sector, potentially indicating overheating. A lower LD indicates that the bank is aggressive in its credit disbursement practises, which could be risky. It highlighted that an analysis of the sector's transactions with the Reserve Bank of India (RBI) through the liquidity adjustment facility (LAF), along with recent trends in the weighted average call rate (WACR), suggests that the current rise in the LD ratio does not indicate tightness, which is why there is no immediate cause of concern. In fact, the report added that the concern over weak deposit growth may be overstated. Historical data show that bank deposits grew at an average rate of 9.5 % during the pre-COVID period (January 2015 to February 2020) and 10.4 % in the post-COVID period (March 2020 to August 2024). Earlier, Finance Minister Nirmala Sitharaman also urged state-run banks to enhance deposit mobilization through attractive offers and focusing on Tier-2 and Tier-3 cities. Loan-to-deposit ratio pegs the total deposits received by the bank against the loans it has offered. It helps in understanding how liquid the bank is. The loan-to-deposit ratio (LDR) is a financial metric that compares a bank's total loans to its total deposits. It's used to assess a bank's liquidity and credit risk, and to inform lending and deposit-taking decisions The report said while the exact measures are unclear, the deposit growth could potentially be increased by making other asset classes less attractive through taxation or interest rates, or by boosting fiscal spending to increase net credit to the government. In its forecast, the report noted that private banks will witness a moderation in their <keyword id="19998083" type="General" weightage="20" keywordseo="credit-growth" source="keywords">credit growth</keyword>, while public sector banks will maintain a healthy credit growth rate. "Our analysis suggests that deposit growth could be raised by either making other asset classes unattractive (through taxation and/or interest rate) or increasing the growth in net credit to the government by pushing fiscal spending higher" the report added. Alternatively, policymakers might consider curtailing loan growth to lower the LD ratio. However, this could slow deposit growth, particularly if corporate credit growth remains weak. Encouraging savers to shift investments from other assets to bank deposits could also be an option, but this carries risks of overreach and potential damage to economic confidence. Das had also flagged the excessive growth, or froth developing in the personal loan space. Notably, while credit growth in unsecured personal loans like credit cards continues to decline, it remains elevated at 23.3% as of June 2024. However, this is a significant reduction from 34.2% witnessed in November 2023. As fiscal spending increases, bank credit to the government is likely to grow, which should elevate deposits and broad money supply. The report said "However, the extent of foreign capital inflows and the RBI's policy for managing these inflows remain uncertain". Last month, RBI governor Shaktikanta Das had also addressed this issue in the 50th meeting of MPC (Monetary Policy Committee). Per him, deposit mobilisation has been lagging credit growth for some time now. This may potentially expose the system to structural liquidity issues. "While there could be a debate regarding ‘deposits funding loans’ vis-à-vis ‘loans funding deposits’, the current regulatory concern stems from the fact that there could be structural changes happening which banks need to recognise and, accordingly, devise their strategies. Households and consumers who traditionally leaned on banks for parking or investing their savings are increasingly turning to capital markets and other financial intermediaries", Das said. Per him, while bank deposits continue to remain dominant as a percentage of financial assets owned by households, their share has been declining consistently, since households are now increasingly allocating their savings to mutual funds, insurance funds, pension funds and other avenues.

Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

<ul class="summary-list"><li>Intel's stock plunged as much as 30% on Friday, its biggest daily decline since at least 1982.</li><li>The dip comes after the company announced plans to lay off 15,000 workers.</li></ul>Intel's stock took a big hit after the company issued disappointing guidance and announced sweeping layoffs in its most recent earnings report.Shares plunged as much as 30% on Friday, its biggest single-day drop since at least 1982, according to Bloomberg data.The decline comes after the software company announced quarterly revenue of $12.83 billion, down 1% from the previous year and missing analyst expectations of $12.94 billion, according to LSEG estimates.The company also lowered its revenue forecast for the current quarter to a range between $12.5 billion and $13.5 billion, down from analyst estimates of $14.35 billion.Intel executives pointed to unexpected trends in the most recent quarter, despite product milestones for the company."Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones," CEO Pat Gelsinger said in a press release. "Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies."Those operations and efficiency improvements include plans to layoff over 15% of staff by the end of this year, realign structure and operations, and cut operations expenses by over $10 billion next year.The stock's fall and weak earnings also had spillover effects in global semiconductor stocks, too. Tokyo Electron fell 12% in Japan, driving down the index to its <a target="_blank" href="https://markets.businessinsider.com/news/stocks/japanese-stock-market-selloff-boj-rate-hike-us-economy-s2024-8">worst day since 2020</a>. The Netherlands' ASML fell more than 8%, while Nvidia tumbled 7% at intraday lows.Intel's executives said they want to conduct their restructuring plan quickly, and foresee longer-term success as result."In terms of the long-term forecast, we're clearly tempering our view of how fast we can grow in the near term based on the market conditions, but our model is built that we will scale up or scale down the capital requirements appropriate to the market conditions we see," Gelsinger told investors in a Thursday call.

Intel plunges 30%, most since 1982, after announcing layoffs and weak guidance

<ul class="summary-list"><li>US stocks dropped Wednesday, with the Nasdaq seeing its steepest single-day loss since 2022.</li><li>Tesla and Alphabet earnings reports disappointed investors and dragged tech lower. </li></ul>US stocks dropped on Wednesday, led by a steep sell-off in the tech sector after the first batch of mega-cap earnings disappointed investors. The major indexes all ended the day lower, with the Nasdaq Composite falling more than 3% to notch its worst trading day in since 2022. The S&amp;P 500 dropped more than 2% and the Dow Jones Industrial Average lost more than 500 points. Investors were shaken after Tesla and Alphabet reported financials for the second quarter. <a target="_blank" class="" href="https://www.businessinsider.com/tesla-elon-musk-tough-q2-earnings-report-robotaxi-fsd-2024-7">Tesla shares dropped 12%</a> after the carmaker missed earnings estimates and logged a big drop in auto revenue. <a target="_blank" class="" href="https://www.businessinsider.com/alphabets-investors-want-data-ai-returns-no-one-has-answers-2024-7">Alphabet</a> shares, meanwhile, fell 5% after the Google parent beat on earnings but reported weaker ad revenue from YouTube and rising capital expenditures during the quarter. Other mega-cap tech stocks also tumbled in Wednesday's session as investor sentiment soured. Nvidia shares fell almost 7%, while Meta shares ended the trading session 5.6% lower."So is the Tech-led bull market over? Is the AI bubble bursting? Or are investors rotating out of Tech into all the laggards? Or is the bull market simply broadening?" Yardeni Research wrote in a note. "For now, we believe that the stock market was overbought and is experiencing a minor selloff."Investors are waiting on more mega-cap tech earnings, with Meta, Apple, and Amazon set to report their financials next week.In the meantime, traders are eyeing fresh economic data releases. Second-quarter GDP estimates are due on Thursday, and the personal consumption expenditures price index, the Fed's preferred measure of inflation, is due on Friday. Markets are expecting PCE inflation to slow to 2.5% on an annual basis, while GDP is expected to show the economy grew 2.1% last quarter.The readings will help inform rate-cut bets as the central bank heads into its two-day policy meeting next week. Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,427.12, down 2.31% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,853.87, down 1.25% (-504.22 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,342.41, down 3.64%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/housing-market-outlook-home-prices-supply-shortage-inventory-mortgage-rates-2024-7">The housing market is poised to loosen up</a> as more inventory hits the market and home prices cool, according to Fannie Mae.</li><li><a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-wartime-boom-outlook-western-us-sanctions-soviet-union-2024-7">Russia's war-driven economy is a mirage</a>, and more sanctions are needed to keep the pressure on, European finance ministers said.</li><li>Tesla's earnings were tough, but here's why the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-price-earnings-ai-robotaxi-self-driving-dan-ives-2024-7">carmaker could be getting its mojo back</a>, according to Wedbush's Dan Ives.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude ticked 0.77% higher to $77.55 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, dipped 0.12% to $80.72 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged lower by 0.12% to $2,406 per ounce.</li><li>The 10-year Treasury yield rose nearly five basis points to 4.287%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dipped 0.25% to $65,883.</li></ul>

Stock market today: Nasdaq suffers worst day since 2022 as weak earnings spark steep sell-off     

<ul class="summary-list"><li>Weak retail sales data on Tuesday sent bond yields lowers</li><li>Month-to-month sales rose 0.1%, below estimates.</li></ul>US stocks edged up on Tuesday after retail sales data for May came in weaker than expected, sending Treasury yields lower.The <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> and <a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_100?utm_medium=ingest&amp;utm_source=markets">Nasdaq</a> continued their record-setting run, with investors eyeing the impact of a less robust consumer on the outlook for rate cuts.US consumers appeared to cut back last month, with month-over-month sales rising 0.1% in May, below estimates. Prior months were also revised lower. Sales climbed 2.3% year-to-year.Investors this year have grown sensitive to signs of economic weakness, and markets will want to see how this could play into the Federal Reserve's monetary policy plans.Treasury yields responded by dropping about three basis points to 4.25%."The much anticipated retail sales report pushed Treasury yields lower as it came in weaker than estimates, but it was the downward revision for two previous months that has analysts concerned that lower and middle income wage earners are under pressure from both prices and higher prices," Quincy Krosby, chief global strategist for LPL Financial, said Tuesday morning. "Should employment data, particularly initial unemployment claims, continue to indicate a more defined softening in the labor market, the Fed may—as Fed Chair Powell suggests —need to recalibrate its timetable for commencing policy easing."So far, most investors continue to bet on the first rate cut to happen in September, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">CME FedWatch Tool</a>, though recent comments from the Fed put the date of the first cut at the December policy meeting.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,483.03, up 0.18%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,848.97, up 0.18% (-70.87 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,874.40, up 0.08%</li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://www.businessinsider.com/job-market-fed-rate-cuts-outlook-economy-recession-goldman-sachs-2024-6">Three weak spots in labor that could trigger steeper Fed cuts</a>, according to Goldman Sachs.</li><li>Microsoft could <a target="_blank" href="https://markets.businessinsider.com/news/stocks/microsoft-stock-ai-spending-investing-copilot-azure-nvidia-dan-ives-2024-6?_gl=1*utt1s1*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxODcxMjk1MS4zMzcuMS4xNzE4NzE0ODMyLjE5LjAuMA..">climb 24% to $550 thanks to AI monetization</a>, Wedbush Securities says.</li><li>Treasury secretaries Janet Yellen and Larry Summers have <a target="_blank" href="https://www.businessinsider.com/trump-tariff-income-tax-proposal-stagflation-yellen-summers-trade-war-2024-6">blasted Trump's plan to replace the income tax with tariffs</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-what-needs-to-happen-avoid-decline-tech-2024-6?_gl=1*11fgr4w*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxODcxMjk1MS4zMzcuMS4xNzE4NzE0OTg0LjYwLjAuMA..">Here's what needs to happen for stocks to avoid a 23% correction</a>, according to JPMorgan's Kolanovic.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil was up 0.25% to $80.50 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, edged 0.2% higher to $84.46 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> inched up to $2,336 per ounce.</li><li>The 10-year Treasury yield slid three basis points to 4.25%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> fell by 1% to $64,648.</li></ul>

You Searched For "Financially weak" and got 8 results

Stock market today: New record highs as Nvidia surge offsets weak consumer sentiment

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JetBlue is fixing its business class' biggest weakness by building its own airport lounges

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Stock market today: Nasdaq drops 3% as weak manufacturing data renews US growth fears

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Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

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Intel plunges 30%, most since 1982, after announcing layoffs and weak guidance

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Stock market today: Nasdaq suffers worst day since 2022 as weak earnings spark steep sell-off

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Stock market today: Indexes rise as traders assess weak May retail sales data

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