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Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

<ul class="summary-list"><li>Markets are moving on early US election results that favor Donald Trump.</li><li>US Treasury yields and the dollar are rising, with futures and cryptocurrencies also gaining.</li></ul>Markets are turning to the Trump trade on election night as betting odds move in favor of Republican candidate and former President Donald Trump.While the election is far too early to call, online betting sites, including <a target="_blank" class="" href="https://www.predictit.org/markets/detail/7456/Who-will-win-the-2024-US-presidential-election">PredictIt</a> and <a target="_blank" class="" href="https://polymarket.com/event/presidential-election-winner-2024">Polymarket,</a> show Trump ahead in the race for the top job.This turn in sentiment supported the so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/donald-trump-trade-rally-betting-markets-kamala-harris-bitcoin-djt-2024-10">Trump trade</a>, which is predicated on corporate tax cuts and significant deficit spending, as well as hawkish trade and foreign policy, Kyle Rodda, a senior market analyst at <a target="_blank" href="http://Capital.com">Capital.com,</a> said in a note on election night."Deeper deficit spending implies stronger US growth, higher corporate profits (juiced by tax cuts), higher levels of debt, greater Treasury issuance, and marginally higher inflation," wrote Rodda."This dynamic draws investors into equities, especially 'old' or 'real' economy companies in the industrials, financials, materials and energy sectors, with the Dollar rising because of higher rates and upward pressure on yields from higher inflationary pressures and debt issuance," he added.US Treasury yields rose across the board on Tuesday night as investors view a second Trump presidential term as <a target="_blank" rel="" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*4j037*_ga*MTM0MjM1NDU5My4xNjg1MTUzMTcw*_ga_E21CV80ZCZ*MTczMDg1ODYyOS4xNDM0LjEuMTczMDg1OTIxMC42MC4wLjA.">an inflationary event.</a> Trump has pledged to impose <a target="_blank" rel="" href="https://www.businessinsider.com/trump-tariff-trade-tax-proposal-inflation-interest-rates-outlooks-predictions-2024-7?utm_medium=ingest&amp;utm_source=markets">sweeping tariffs on imports</a>, which would stem currency outflow and drive up inflation and interest rates.The benchmark <a target="_blank" class="" href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury yield</a> climbed about 14 basis points to about 4.4315% as of 10:26 p.m. ET. The <a target="_blank" class="" href="https://markets.businessinsider.com/rates/u-s--rates-2-years">two-year yield</a> gained 7 basis points to 4.2699%.Bets on higher interest rates sent the US dollar higher. The <a target="_blank" rel="" class="" href="https://markets.businessinsider.com/index/us-dollar-index?utm_medium=ingest&amp;utm_source=markets">US Dollar Index,</a> which measures the greenback against a basket of six major currencies, was trading 1.43% higher.The dollar gained 1.5% against the Japanese yen, with the <a target="_blank" class="" href="https://markets.businessinsider.com/currencies/usd-jpy">USD/JPY</a> currency pair at 153.9. Meanwhile, the greenback was 1.5% higher against the <a target="_blank" class="" href="https://markets.businessinsider.com/currencies/usd-eur">euro</a> and 3% higher against the <a target="_blank" class="" href="https://markets.businessinsider.com/currencies/usd-mxn">Mexican peso.</a>Meanwhile, US futures moved higher on increasing prospects of a Trump win. Supporters of Trump's proposed tax and regulatory policies view them as pro-business moves that would boost corporate profits and deal activity.<a target="_blank" class="" href="https://markets.businessinsider.com/futures/s&amp;p-500-futures">S&amp;P 500 futures</a> were up 1.25% higher, while <a target="_blank" class="" href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones Industrial Average futures</a> were up 1.2%. <a target="_blank" class="" href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq 100 futures</a> gained 1.2%.Cryptocurrencies are also gaining, with Bitcoin up 6.8%. Trump has <a target="_blank" class="" href="https://www.businessinsider.com/trump-bitcoin-stance-2024-7?utm_medium=ingest&amp;utm_source=markets">endorsed digital assets</a> in recent years, and some investors are buying the asset as an inflation hedge.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/djt-stock">Trump Media and Technology Group</a> shares rallied 10.4% in after-hours trade after reporting third-quarter earnings, which initially sent shares down. The social media company, which trades under Trump's initials, reported an operating loss of $23.7 million and a net loss of $19.2 million. But it has no debt and a balance of cash, cash equivalents, and short-term investments of $673 million as of September 30 — sharply higher than in the second quarter."Markets are very thin and skittish, DJT exceptionally so," Steve Sosnick, the chief strategist at Interactive Brokers, told CNN.Rodda wrote that even though the Trump trade is playing out hours after the polls closed, it's still too early for confident calls."Ultimately, the counting is only just starting and a clear result is some way from being found. While some states have already been called by the media, most swing states have either just closed the polls and have just started tabulating votes, or are still open," he added.

The Trump trade is taking off on election night

The rupee fell 7 paise to trade at 84.47 against the US dollar in early trade on Thursday weighed down by a muted trend in domestic equities and strength of the American currency in the overseas markets. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the latest <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords">Federal Open Market Committee</keyword> (FOMC) minutes reveal a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar. "The 84.50 level remains a strong support for the USD/INR pair. <keyword id="23456490" type="General" weightage="20" keywordseo="RBI-interventions" source="keywords">RBI interventions</keyword>, coupled with anticipated capital inflows -- such as Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 million capital raise -- are expected to support the rupee further," CR Forex Advisors MD Amit Pabari said. Pabari further added that the USD/INR pair is likely to encounter resistance near the 84.50 mark, with expectations of trading within the 83.80 to 84.50 range, showing a slight downward bias. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.14 per cent at 106.22. Brent crude, the global oil benchmark, fell 0.18 per cent to USD 72.70 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 68.21 points or 0.09 per cent to 80,302.29 in morning trade, while Nifty was up 34.20 points or 0.14 per cent to 24,309.10 points. Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self"></a> <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Rupee falls 7 paise to 84.47 against US dollar in early trade

Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Forex traders said the <keyword id="21663515" type="General" weightage="20" keywordseo="MSCI-equity-index" source="keywords">MSCI equity index</keyword> rebalancing significantly boosted sentiment for Indian equity markets as <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee. Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets. At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close. On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar. "While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said. Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability. "Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said. On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11. Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank">OnePlus Open OxygenOS 15 update now rolling out with Flux Themes, improved AI features and more</a><a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank">Microsoft’s AI-powered Recall feature is now rolling out to Copilot+ PCs</a><a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank">Jio, Airtel and Vi lost nearly 11 million subscribers in September 2024</a>

Rupee rises 7 paise to 84.22 against US dollar in early trade

The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals. Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09 per cent at 106.10. Brent crude, the global oil benchmark, rose by 0.19 per cent to USD 73.44 per barrel in futures trade. On the domestic equity market front, Sensex was trading 271.42 points, or 0.35 per cent higher, at 77,610.43 points. The Nifty advanced 105.55 points, or 0.45 per cent, to 23,559.35 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 1,403.40 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank">Tata to buy a majority stake in Pegatron's iPhone plant in India</a><a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Rupee rises 2 paise to 84.40 against US dollar in early trade

<ul class="summary-list"><li>US stocks were lower Monday as investors braced for the US presidential election. </li><li>Record voter turnout is expected, with over 76 million early votes already cast.</li></ul>US stocks traded slightly lower on Monday as investors prepared for an action-packed week of events.All eyes are on the US Presidential election, with polls set to close Tuesday evening. So far, more than 76 million Americans have voted via mail-in ballots or via early in-person voting, suggesting potential record turnout this year. After <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-iowa-polling-lead-swing-states-2024-11">a shock Iowa poll showed Kamala Harris leading the state</a> against Donald Trump over the weekend, betting odds have tightened in the race after Trump spent the weeks leading up to the vote far ahead of Harris. For a full rundown of the implications for the economy and stock market based on who wins the election, read BI's deep dive on <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">the potential impacts here.</a>After the election, investors will shift their attention to the Federal Reserve. The central bank's FOMC meeting is scheduled for Wednesday and Thursday, <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">with an interest rate decision expected on Thursday.</a>According to the CME FedWatch Tool, markets see a 96% chance of the Fed cutting rates by 25 basis points.Investors will also pay attention to initial jobless claims and productivity data, set to be released Thursday morning.Here's where US indexes stood shortly after the 9:30 a.m. opening 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>: 5,711.31, down 0.31%</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>: 41,893.80, down 0.38% (-158.39)</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>: 18,121.72, down 0.62%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/berkshire-hathaway-apple-stake-cut-quarterly-earnings-2024-11">Berkshire Hathaway trimmed its stake in Apple again. The conglomerate is now sitting of $325 billion in cash.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/us-oil-opec-crude-production-record-oil-prices-commodity-market-2024-11">The US is pumping more oil than ever, and it's complicating things for crude-exporting countries.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia will replace Intel in the Dow Jones Industrial Average, and Sherwin-Williams will replace Dow.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11">Wall Street professionals expect Donald Trump to win the Presidential election, according to a new survey.</a></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 oil rose 2.59% to $71.29 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 2.42% to $74.87 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> jumped 0.19% to $2,754.30 an ounce.</li><li>The 10-year Treasury yield declined 11 basis points to 4.284%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> decreased 0.17% to $68.627.</li></ul>

Stock market today: Indexes trade lower as investors brace for US election

<ul class="summary-list"><li>Kamala Harris' election odds have risen in betting markets this week as early voting picked up. </li><li>Data shows women outpacing men in early voting, a potential warning sign for Trump. </li></ul>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/donald-trump-trade-rally-betting-markets-kamala-harris-bitcoin-djt-2024-10">Trump trade</a> has wobbled this week as Kamala Harris' betting odds have crept higher amid some promising signals for the Democratic candidate from early voting data. Kalshi, the betting market open to US citizens, showed Harris' odds of winning the election rising to about 44% from a low of about 35% on Tuesday, while Trump's odds of winning the election dropped from a peak of about 65% to 56%.Meanwhile, odds of Harris winning the popular vote gained about 10 percentage points this week, rising from a low of about 61% on Tuesday to 71% Friday morning, according to Kalshi data.Possibly driving the change in each candidate's betting odds are promising hints for Harris' campaign in early voting data nationally and in key states. "The situation in Pennsylvania—where women have outpaced men by 13 points in the early vote—has sent the [Trump] campaign into a tailspin during the past two days," <a target="_blank" class="" href="https://puck.news/inside-mar-a-lago-pennsylavania-anxiety-chief-of-staff-games-czar-rfk-jr/">Puck reported</a> on Thursday.The Trump campaign is also worried about losing Michigan, which has seen a surge in young student voters, so winning Pennsylvania is crucial for the campaign, Puck reported. So far, nearly 65 million people have voted early via in-person voting or mail-in ballots. The gender breakdown of the early voting is 54% women compared to 44% men, and Harris has been winning women at a wide margin based on the polls.A weakening in some popular Trump trades has been seen as the betting odds shifted this week. Perhaps the most prominent Trump trades out there is the stock of Truth Social's parent company, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/AAPL-stock">Trump Media and Technology Group. </a>Since Trump's election odds peaked on Tuesday, shares of Trump Media plunged as much as 40%.Bitcoin — <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10">which has soared</a> on the back of Trump's rising odds in betting markets amid hope that he would pursue a much more pro-crypto agenda — has also declined since Trump's election odds peaked this week. The cryptocurrency dropped as much as 7%, though it's since rebounded, rising about 3% Friday morning.Other Trump trades haven't dropped significantly, but they've seen their recent rallies stall, <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">like the US dollar,</a> which is seen as likely to rise considerably under a Trump presidency due to the potential for broad tariffs and higher interest rates. The US dollar index rose 4% since the start of October as Trump's election odds soared, but after hitting a peak on Tuesday, has edged slightly lower slightly.While Trump is still far ahead of Harris in betting markets, even after this week's shift, the polls are much tighter. The latest <a target="_blank" class="" href="https://projects.fivethirtyeight.com/polls/">polling average from 538</a> has Harris leading 48% versus 46.8% for Trump.

Trump trades waver as Harris' betting odds edge up days before the election     

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its all-time low level and witnessed a range-bound trade against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week. Forex traders said RBI interventions will keep the <keyword id="23844589" type="General" weightage="20" keywordseo="USD/INR-pair" source="keywords">USD/INR pair</keyword> between 83.80 and 84.35. Moreover, the US Federal Reserve monetary policy and officials' comments will be in focus to derive further momentum. At the interbank foreign exchange, the rupee opened at 84.26 against the greenback, registering a rise of 5 paise over its previous close. On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar. "The <keyword id="20045514" type="General" weightage="20" keywordseo="Indian-rupee" source="keywords">Indian rupee</keyword> fell to its lowest (level) on Wednesday and is expected to continue with its fall as the Reserve Bank of India (RBI) allows a weaker rupee with FPIs (<keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword>) continuing their selling mode in equities," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. RBI protected the rupee for some time but left the protection as pressure on buying dollars was immense after a rise in the dollar index and an increase in US yields, Bhansali added. Forex traders said the rupee was trading in a narrow range as persistent foreign fund outflows, a muted trend in domestic equities and the strength of the American currency in the overseas market, dented investor sentiments. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent lower at 104.98. Brent crude, the global oil benchmark, rose 0.79 per cent to USD 75.51 per barrel in futures trade. On the domestic equity market front, Sensex declined 429.83 points, or 0.53 per cent, to 79,948.30 points. The Nifty fell 143.25 points, or 0.59 per cent, to 24,340.80 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,445.59 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a><a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank">Swiggy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Rupee rises 5 paise to 84.26 against US dollar in early trade

<ul class="summary-list"><li>Trades on Thursday were trying to reverse three days of declines for the S&amp;P 500 and the Dow.</li><li>A rise in tech stocks fueled the indexes higher after Tesla reported strong earnings.</li></ul>US stocks were mixed Thursday morning, as the market tried to break out of a three-day slump following this week's bond sell-off. The S&amp;P 500 was up in early trades, though the Dow Jones Industrial Average lost over 100 points shortly after the opening bell. Major indexes have struggled this week as <a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/treasury-yields-bonds-interest-rates-economy-inflation-election-labor-market-2024-10">bonds sold off</a> and yields spiked. Traders have been adjusting their expectations for interest rate cuts. Yields edged lower on Thursday, with the 10-year Treasury bond yield down one basis point to 4.232%A rise in tech stocks fueled the Nasdaq higher as Tesla reported <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10?_gl=1*1b1iqo9*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTc3NDk1OC4zMDguMS4xNzI5Nzc1Nzk4LjYwLjAuMA..#wedbush-analyst-dan-ives-sticks-with-bullish-view-on-tesla-despite-recent-volatility?utm_medium=ingest&amp;utm_source=markets">strong earnings</a> after market closed on Wednesday. The carmaker reported earnings per share of $0.62, easily beating analysts' expectations of $0.51, and announced that its <a target="_blank" rel="" class="" href="https://www.businessinsider.com/tesla-cybertruck-profit-2024-10">Cybertruck has reached profitability</a>. Its revenue, though, came in below slightly estimates."Plans for new vehicles, including more affordable models, remain on track for the start of production in the first half of 2025," the company said.Tesla stock surged 17% after the opening bell to trade at $250.30 a share. Meanwhile, jobless claims last week fell unexpectedly to 227,000, a drop of 15,000 from the week before. That number comes in below consensus estimates of 242,000.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<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>: 5,810.04, up 0.22% </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>: 42,394.72, down 0.28% (-120.23 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>: 18,383.49, up 0.56% </li></ul>Here's what else is going on Thursday:<ul><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/treasury-yields-bonds-interest-rates-economy-inflation-election-labor-market-2024-10">bond market is selling off</a> as traders reassess the path of the Federal Reserve's rate cut, with higher chances of rates remaining unchanged.</li><li>Investors' exposure to the S&amp;P 500 is the highest since mid-2023 in a signal that's <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-warning-signs-investor-exposure-sp500-nasdaq-citi-2024-10">previously preceded a 10% slump</a>, Citi says.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-tumbles-analyst-says-iphone-16-orders-slashed-2024-10">Apple stock tumbles</a> after analyst says iPhone 16 orders cut by 10 million units, sees "no evidence" of AI boosting demand.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> rose 1% to $71.39 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, climbed 1% to $75.68 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose almost 1% to $2,753 an ounce.</li><li>The 10-year Treasury yield fell one basis point to 4.323%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was up 1.4% to $66,707.</li></ul>

Stock market today: Indexes trade mixed as traders look to break out of 3-day slump 

<ul class="summary-list"><li>Inflation has come down from pandemic highs, but one economist isn't expecting a return to 2%.</li><li>Rate cuts and other changes in the economy point to 3%+ long-term inflation, says Steven Blitz.</li></ul>For the last decade or so, the Federal Reserve's magic number for inflation has been 2%.The central bank has been aiming to keep the long-run inflation rate at this level to maintain stable prices and a healthy economy.And after the runaway prices of the pandemic era, it seems like the Fed is drawing closer to its 2% goal: the inflation rate was 2.4% for the 12-month period ending in September.However, don't count on a return to the 2% era, said Steven Blitz, chief economist at business intelligence firm GlobalData. Blitz believes the economy is on track for higher, not lower, long-term inflation."I think inflation is going to settle around 3%, 3.5%," Blitz told Business Insider in an interview. "There is now a higher base inflation rate than there was before COVID for a number of reasons."The Fed's rate-cutting campaign is certainly a contributing factor to higher future inflation, in Blitz's opinion. In the past, runaway inflation has only returned to 2% after the Fed engineered a hard landing that slowed consumer spending and wage growth, Blitz said. Financial historian <a target="_blank" href="https://www.businessinsider.com/inflation-fed-powell-mistake-1970s-runaway-stagflation-unemployment-interest-rates-2024-10">Mark Higgins</a> points out that when the Fed cut rates too quickly in the 1960s, inflation spiked and contributed to stagflation in the 1970s.But there are other factors contributing to an increased long-term inflation rate, many of which Blitz tracked even before the pandemic.Debt levels are creeping up, generating an inflationary effect by increasing demand and prices for goods. In terms of consumer and business debt, after the Great Financial Crisis, households and businesses focused on deleveraging their balance sheets, but this trend started reversing after the passage of the Tax Cuts and Jobs Act in 2018, Blitz said. Reduced taxes incentivized spending and also increased the national debt. A higher national debt balance can erode confidence in the dollar, further increasing inflation.Changing demographics in the workplace are also driving increasing debt and higher long-term inflation, according to Blitz.The workforce is getting younger as Gen Z employees enter the market and baby boomers and Gen X employees retire, resulting in growing spending power from Gen Z.As millennials age and gain more income, they're entering their prime homebuying years."They're in that part of their life where they normally leverage their balance sheets to take in physical assets," Blitz said. And as more millennials start families and have children, their expenditures will only continue to increase. These demographic changes will stoke consumer demand and, subsequently, inflation.And lastly, inflation is creeping up thanks to changes in international trade, Blitz said. Import penetration, or the amount of foreign goods flowing into the US, is reaching a plateau. Importing cheap goods from overseas has a disinflationary effect by decreasing prices paid by consumers.Blitz believes import penetration in the US is near or has already reached peak levels, meaning that the deflationary impacts of international trade will be muted in the future. With trends such as nearshoring and reshoring driving companies to move their operations closer to domestic markets, import penetration could certainly decline.In Blitz's perspective, all of these factors add up to an inflation rate exceeding 2% going forward.<h2 id="42586d83-d9bb-4112-b404-1a3b9311f18b">Investing for higher inflation</h2>Investors could start seeing persistent inflation take hold within the next year, according to Blitz. The September jobs report is already one early sign of sticky inflation, especially wage inflation, in his opinion.There are a few ways that investors can prepare their portfolios.In a high-interest-rate environment, bonds are less attractive, Blitz said. Bonds suffer from inflation risk because inflation eats into interest rate payments, reducing their real yield. Higher inflation also pushes up yields as investors demand higher compensation, reducing the value of the assets.Instead, look towards the stock market, he said. While increased inflation might hurt the stock market overall, there are some pockets of equities that will benefit. Technology and value stocks typically perform well in the wake of higher inflation, according to Blitz.In a high-inflation environment, companies look to put their capital into more durable investments as the dollar depreciates. Blitz believes the chip industry in particular is an inflation-resilient choice because they supply assets critical to many supply chains.High inflation can be a boon to value stocks because it boosts businesses' margins."In a lower inflation environment, it's harder to grow revenue off of the nominal growth of the economy," Blitz said. That results in outperformance from growth stocks, which investors anticipate will increase profits at a substantially higher pace relative to the rest of the market.In a 3% to 3.5% inflation environment, there's more opportunity for overlooked value stocks to appreciate. High-quality value stocks with stable margins will actually receive a lift from rising prices, especially if they have good cost management, Blitz said.Those looking to increase their exposure to these areas of the stock market can do so through funds such as the iShares Semiconductor ETF (<a target="_blank" href="https://markets.businessinsider.com/etfs/ishares-semiconductor-etf-us4642875235?miRedirects=1">SOXX</a>) and the Vanguard Value Index Fund ETF (<a target="_blank" href="https://markets.businessinsider.com/etfs/vanguard-value-index-fund-etf-shares-us9229087443?miRedirects=1">VTV</a>).

You Searched For "early trade" and got 10 results

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