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<keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are navigating choppy waters as global economic shifts, from rate cuts to evolving political climates, create new pressure points across the financial landscape, according to a recent report by ANI attributed originally to the Union Bank of India. The domestic stock and bond markets showed signs of strain, with <keyword id="19910363" type="General" weightage="20" keywordseo="bond-yields" source="keywords">bond yields</keyword> witnessing slight adjustments. India’s 10-year government bond yield dipped to 6.82%, a decrease from the previous session, reflecting cautious investor sentiment as the markets react to shifting global indicators. Meanwhile, the 5-year bond yield remained steady at 6.76%, a signal of lingering hesitation amid economic unpredictability. In the currency market, the rupee faced a notable decline, ending the day at ₹84.3725 against the US dollar, slipping from its prior close of ₹84.2800. Market analysts point to significant capital outflows as a key factor, with investors moving funds to perceived safer assets overseas. This migration has weighed heavily on the rupee, underlining the currency’s vulnerability in an environment of global economic flux. India’s stock market bore the brunt of this volatility, with key indices falling over 1%, effectively erasing the gains of a previous rally. This abrupt drop reportedly reflects renewed investor anxiety, largely triggered by the recent <keyword id="20189882" type="General" weightage="20" keywordseo="US-presidential-election" source="keywords">US presidential election</keyword> results. Experts suggest that the election has introduced a fresh layer of uncertainty, not only for the US economy but for global markets, impacting everything from policy decisions to investor sentiment. Analysts are also keeping a close eye on upcoming decisions by central banks, which will likely shape the path forward for the Indian equities market. Commodities showed contrasting trends, with Brent crude prices falling on lower demand expectations, as economic indicators point toward cautious spending globally. Gold, on the other hand, experienced a modest rise as investors sought refuge in safe-haven assets, highlighting a shift towards risk aversion among market participants. Globally, major central banks made coordinated efforts to sustain economic growth, with the Bank of England (BoE) announcing a 25 basis-point cut, lowering its benchmark rate to 4.75%. The BoE’s Monetary Policy Committee (MPC) largely backed this move to counter inflation, which has been declining, albeit gradually. Across the Atlantic, the US Federal Reserve mirrored this action with its own 25 basis-point cut, a sign of confidence in the ongoing economic recovery. Both rate cuts, though modest, signal a global trend towards caution as economies work to balance growth with stability. In Asia, the People’s Bank of China (PBoC) maintained its supportive stance. Governor Pan Gongsheng sought to reassure foreign investors by reaffirming the PBoC’s commitment to growth-oriented policies. Pan emphasized enhanced communication and pledged to open China’s financial services sector further, aiming to attract more international participants. Europe, meanwhile, faced mixed economic signals. Germany reported a steep 2.5% drop in industrial production in September, signalling a slowdown in manufacturing, while the Eurozone saw a mild 0.5% rise in retail sales, reflecting cautious consumer optimism in the region. Adding another layer to the global economic landscape, the European Union’s Climate Change Service warned that 2024 could be the hottest year on record, underscoring urgent climate challenges just as the UN COP29 climate summit approaches. The summit, set to take place in Azerbaijan, aims to rally increased funding for climate action, though tempered expectations linger in light of recent US political shifts. On the domestic front, Niti Aayog CEO BVR Subrahmanyam spoke about India’s potential role in pivotal global trade agreements, specifically the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These partnerships, Subrahmanyam suggested, could bolster India’s Micro, Small, and Medium Enterprises (MSME) sector, which currently accounts for 40% of India’s exports, offering a strategic advantage for Indian trade in an interconnected world. As the Indian markets digest these developments, experts believe continued volatility could be the theme for the coming months. (with ANI inputs)

Indian markets under pressure as global rate cuts stir uncertainty, new report says

After a 10.2% increase last year, <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> are expected to rise another 9.9%, <keyword id="22706139" type="General" weightage="20" keywordseo="Infomerics-Ratings" source="keywords" meta.keywordsubtype="org" meta.entityname="Infomerics Ratings" meta.hostid="261" meta.entityid="Infomerics Ratings">Infomerics Ratings</keyword> said in a report, attributing largely to the <keyword id="20132853" type="General" weightage="20" keywordseo="Middle-East-crisis" source="keywords">Middle East crisis</keyword> involving Iran and Israel. The dragged <keyword id="20130144" type="General" weightage="20" keywordseo="geopolitical-crisis" source="keywords">geopolitical crisis</keyword> in the Middle East has spurred a rush into safe-haven assets such as gold. Historically, gold, as an asset, is considered a haven as it typically manages to retain or appreciate its underlying value in times of turbulence. "But this rise would now partly be offset by the reduced duty cut (in India)," said the Infomerics Ratings report. Historical trends, such as the surge during the Russia-Ukraine war, highlight gold's role as a safeguard against inflation and market instability during <keyword id="19982403" type="General" weightage="20" keywordseo="global-uncertainties" source="keywords">global uncertainties</keyword>. Prices of gold, considered safe investment bets, have seen a mild correction after the latest stellar bull run. Gold has been in demand for a considerable period, with its prices rallying to hit record highs now and then. Geopolitical conflict in West Asia that stretched for a long time, buying by several central banks, including the RBI, and physical demand, have altogether pushed gold prices northwards. Gold is a scarce commodity, and any mismatch in demand-supply conditions may invariably trigger a sharp price rise. "Gold's diverse uses, in jewellery, technology and by central banks and investors, mean different sectors of the gold market rise to prominence at different points in the global economic cycle. This diversity of demand and self-balancing nature of the gold market underpin gold's robust qualities as an investment asset," said Infomerics Ratings. Festive season buying, a weak dollar, uncertainty surrounding the US elections, and possible Fed rate cuts in September could raise prices, the report noted. In the wake of the presentation of the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> on July 23, 2024, by the Finance Minister, gold prices in India declined sharply. Finance Minister Nirmala Sitharaman slashed the import duty on gold from 15% to 6% in the Budget presented on July 23. Days after the Budget, gold became cheaper by Rs 6,200 in most states of India. In the capital Delhi, the price of 10 grams of 24 carat gold came down to about Rs 69,140. "With surging demand for gold, especially as the <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword> approaches, gold prices are likely to rise this financial year, driven by escalating geopolitical tensions, robust central bank buying, and expectations of <keyword id="21050688" type="General" weightage="20" keywordseo="US-Fed-rate-cuts" source="keywords">US Fed rate cuts</keyword>." Infomerics Ratings report said. In India, gold has strong cultural and religious significance. As per <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="261" meta.entityid="World Gold Council">World Gold Council</keyword>, India is one of the largest consumers of gold jewellery, accounting for about 25% of global gold demand. The demand for gold in India is primarily driven by weddings and festivals, making it an integral part of the country's culture and traditions. Touching upon regulatory structure and challenges in the gold sector, the report noted that the regulatory landscape for the gold industry in India is fragmented. "The regulatory landscape for the gold industry in India is fragmented, involving multiple circulars and notifications from various authorities such as the RBI, Ministry of Finance, Ministry of Commerce, DGFT, Customs, and others. This patchwork of regulations leads to confusion, inefficiency, and difficulty in compliance, as stakeholders must navigate through numerous documents to understand the rules," the report read.

Gold shines as demand for safe haven asset strong; Infomerics Ratings anticipates 10% price jump this year

New Delhi: India's fossil fuel emissions are projected to rise by 4.6 per cent in 2024, while China could see a marginal rise of 0.2 per cent, according to new research by a group of international scientists. As the UN climate conference in Baku, Azerbaijan, discussed raising trillions of dollars to tackle <keyword id="19907392" type="General" weightage="20" keywordseo="Climate-change" source="keywords">climate change</keyword>, the group of scientists known as the "Global Carbon Project" warned that emissions from fossil fuels -- the main driver of warming -- could hit a record 37.4 billion tonnes in 2024, up 0.8 percent from 2023 levels. This comes despite rapid growth in renewable energy and a landmark agreement at COP28 in Dubai last year to move away from fossil fuels. The "<keyword id="23948569" type="General" weightage="20" keywordseo="Global-carbon-budget-2024" source="keywords">Global Carbon Budget 2024</keyword>" report said total global CO2 emissions are set to go up from 40.6 billion tons in 2023 to 41.6 billion metric tons in 2024, which is on course to become the warmest year on record. "The impacts of climate change are becoming increasingly dramatic, yet we still see no sign that burning of fossil fuels has peaked," Professor Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study, said. The 'Global Carbon Project' team said India, the world's most populous country and fastest-growing major economy, may see its fossil fuel emissions rise by 4.6 percent. According to a UN report released last month, India's greenhouse gas emissions surged by 6.1 per cent in 2023, contributing to 8 per cent of the global total. However, the country's historical contribution to global CO2 emissions stands at only 3 per cent. India's per capita emissions remain low at 2.9 tons of CO2 equivalent (tCO2e), far below the global average of 6.6 tCO2e. India, the world's third-largest greenhouse gas emitter, has pledged to reach net zero emissions (balancing emissions with removals) by 2070 and aims to achieve 500 gigawatts of renewable energy capacity by 2030. China's emissions, which make up 32 per cent of the global total, are likely to increase slightly by 0.2 per cent, though there is a chance they could decline, according to the data released on Wednesday. Emissions from the United States and the European Union, which contribute 13 per cent and 7 per cent of the global total, are both set to decline, with drops of 0.6 per cent for the US and 3.8 per cent for the EU. Emissions from the rest of the world, which together account for 38 per cent of global emissions, could see a rise of 1.1 per cent. The researchers said that in 2024, coal emissions will likely increase by 0.2 per cent, oil by 0.9 per cent, and gas by 2.4 per cent, globally. Coal, oil, and gas contribute 41 per cent, 32 per cent, and 21 per cent of global fossil CO2 emissions, respectively. However, given the uncertainty in projections, it remains possible that coal emissions could decline in 2024, they said. The report also pointed out that emissions from international aviation and shipping, which account for 3 per cent of global emissions and are tracked separately from national or regional totals, are expected to rise by 7.8 per cent in 2024. However, these emissions will still be 3.5 per cent below the 2019 pre-pandemic levels. Globally, emissions from land-use changes, like deforestation, have dropped by 20 per cent over the past decade but are expected to rise in 2024. Permanent CO2 removal through reforestation and new forest planting now offsets about half of the emissions from permanent deforestation, they added. Technology-based CO2 removal accounts for only a tiny fraction -- around one-millionth -- of CO2 emissions from fossil fuels. The report said that emissions from fires in 2024 have been above the average since the beginning of the satellite record in 2003, particularly due to the extreme 2023 wildfire season in Canada (which continued into 2024) and severe drought in Brazil. Land and ocean carbon sinks continued to absorb around half of the total carbon emissions, despite being negatively affected by climate change.

Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

<ul class="summary-list"><li>Trump's tariff threats may boost Chinese exports as importers rush to beat tariffs.</li><li>Trump's proposed tariffs could lead to increased global manufacturing activity temporarily.</li></ul>US President-elect Donald Trump may be good for China's export business — at least temporarily.Trump, who <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">won</a> the presidential election, has pledged to impose sweeping tariffs of 10% to 20% on imports to the US. He has threatened a 60% tariff on imports from China.His tariff threats are causing <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">jitters</a> around the world. With Trump set to take office on January 20, factories globally may be working overtime to ship out as much as they can before any potential tariffs kick in, economists say."There could be real front-loading of activity ahead of the enacting of tariffs," said Joe Lupton, a senior global economist at JPMorgan, on a <a target="_blank" class="" href="https://markets.jpmorgan.com/research/email/scx/-miq4i59/b3efe732-ef66-49ae-ad3d-5390f5279831/KAL-1-87CAN94L">podcast</a> over the weekend."Just as businesses try to get ahead of that, you could actually see a little bit of pop in global manufacturing, China manufacturing, as we head into the first quarter," he added.The demand for imports, including those from China, could also come from the US itself."Trump's return could create a short-term boost to Chinese exports as US importers increase their purchases to get ahead of the tariffs," wrote Zichun Huang, a China economist at Capital Economics, in a Thursday note.Some of the front-loading may already be taking place.Exports from China grew 12.7% in October from a year ago — their fastest pace in two years and far higher than their 2.4% rise in September, according to official data. Several major ports in China faced delays in September due to a <a target="_blank" class="" href="https://worldwidelogisticsltd.com/2024/09/18/6908/">major typhoon</a> and the backlog spilled in October.<h2 id="194ec862-e0b6-4683-b8c7-95de349dd1e3">Exports could dip with focus on trade deficits</h2>Any a temporary boost in trade would just be that: temporary.Asian export growth could still dip into the negative zone in the second half of next year amid Trump's focus on reducing US bilateral trade deficits, wrote economists at Nomura in a Friday note.Six of the top 10 countries that run deficits with the US are Asian countries, including China, Vietnam, Japan, South Korea, and India."Higher US tariffs on Chinese exports could re-direct those exports into Asia, hurting local production," wrote the Nomura economists."More tit-for-tat trade retaliation, trade policy uncertainty and delayed policy easing in some Asian economies will also likely spill into domestic demand," they added.

Global manufacturing is poised for a temporary boom ahead of possible Trump tariffs, economists say

<ul class="summary-list"><li>A mass IT outage is causing global travel chaos. </li><li>Passengers face delays and cancellations at airports as digital services relying on Microsoft were affected. </li></ul>A <a target="_blank" class="" href="https://www.businessinsider.com/major-disruptions-airline-bank-london-stock-exchange-microsoft-outage-2024-7">global IT outage</a> has brought travel systems worldwide to a standstill, causing issues for passengers at airports, on train services, and at gas stations.<a target="_blank" class="" href="https://www.businessinsider.com/mass-it-outage-companies-operations-airlines-affected-microsoft-crowdstrike-2024-7">Major airlines, banks, and retailers</a> are experiencing <a target="_blank" class="" href="https://www.businessinsider.com/mass-it-outage-microsoft-chaos-delays-distruption-shown-in-photos-2024-7">widespread disruptions</a> after Microsoft reported problems with its online services, <a target="_blank" class="" href="https://www.businessinsider.com/crowdstrike-global-it-outage-one-defective-it-update-sparked-chaos-2024-7">linked to an issue at cybersecurity firm CrowdStrike</a>.American, United, and Delta <a target="_blank" class="" href="https://www.businessinsider.com/united-american-warn-pilots-of-communication-issues-amid-grounding-2024-7">issued ground stops on Friday</a> due to potential communication issues, while airports and airlines worldwide reported issues and delays affecting airlines.As boarding, tickets, and <a target="_blank" class="" href="https://www.businessinsider.com/united-american-warn-pilots-of-communication-issues-amid-grounding-2024-7">pilot communication channels</a> were affected by the outage, passengers were hit with delays and cancellations.Scott Sanders, a passenger at Seattle-Tacoma International Airport, told Business Insider that people were sleeping on the ground due to the disruption. The atmosphere was relatively calm, he said.Sanders' flight to Cincinnati/Northern Kentucky International Airport (CVG) had been scheduled to depart on Thursday at 10:55 p.m. However, after one and a half hours of sitting on board the plane, passengers were told to disembark.He still hoped to reach his father's 80th birthday celebration on Saturday.Jordan van den Lamb, a public servant, told BI that he had been stranded for six hours at Hobart Airport in Tasmania.Lamb said the airport was empty because other passengers were told their flights were canceled.He was told there was still a chance his flight would take off. But five hours later, it was canceled. Jetstar would not pay for accommodation, he said.But it did offer aggrieved passengers two vouchers amounting to $10.70 (16 AUD), which they were only allowed to spend all at once with no change given.<h2 id="94377cb2-ef0f-4b53-b24c-a56b1ba255b5">'Tired and hopeless'</h2>At Los Angeles International Airport, Sarah Patterson experienced a similar disruption.Patterson told BI her flight with Spirit Airlines to Newark Liberty International Airport (EWR) was delayed by more than two hours on Thursday evening before it was eventually canceled.It took three hours to get her checked luggage back from the airline, she said.On top of the delay, the airline's app was completely unresponsive and they had been told that no rebookings could be made."There's about three flights of people, at least, all in a single line for the Spirit desk, all trying to get rebooked," Patterson said."I have a family vacation I'm supposed to go on on Saturday, so it's pretty brutal," she said.A spokesperson for Spirit told BI that its team is working "as quickly as possible to have everything restored." The company wrote on X Friday that it is currently unable to rebook flights for impacted passengers because of the outage.Jacqualine Ebule was also stuck at LAX after boarding her 11:15 p.m. flight to Washington, D.C. An hour later, they were told to disembark, and at 3:30 a.m., the flight was canceled."We sat on the tarmac for an hour, and they said it was a technical issue with Microsoft," Ebule told BI. "We then had to deplane and everyone has just been sitting around waiting."Calling the whole experience "a hassle" she was thinking of just heading home."People with kids look extremely tired and hopeless," she added.<h2 id="c9ae466d-6ea6-4ba9-a551-18531a175aca">Reverting to manual processes</h2>The <a target="_blank" class="" href="https://www.businessinsider.com/global-it-outage-y2k-24-years-later-crowdstrike-cyber-expert-2024-7">global IT outage</a> is affecting airlines differently depending on their use of Microsoft services for their operations.At Melbourne Airport, Australia, the international airlines Jetstar and Scoot were experiencing ongoing issues, while all other international airlines were processing passengers normally, the airport confirmed <a target="_blank" class="" href="https://x.com/Melair/status/1814217651834786060">on X</a> on Friday morning.Some airlines resorted to using manual processes to manage the situation.<div type="image" title="A man stands looking at a piece of paper in front of a whiteboard displaying flight information in an airport lounge." height="4032" width="3024" msid="111866981" hostid="261"></div>In Singapore Changi Airport, whiteboards displaying flight numbers were laid out in a terminal 1 lounge.Elsewhere, passengers of Indian airline IndiGo posted images of handwritten boarding passes on social media. BI was unable to verify their accounts. However, the airline confirmed on X that the outage had impacted access to boarding passes and check-in.<h2 id="526b6277-1c02-4b21-8488-0b787cf60316">Trains and gas stations</h2>Travelers trying to use <a target="_blank" class="" href="https://www.businessinsider.com/nyc-dc-subway-global-it-outage-crowdstrike-new-york-washington-2024-7">other forms of transport</a> have also faced disruption.National train operators in the UK <a target="_blank" class="" href="https://x.com/nationalrailenq/status/1814206628113113153">reported</a> network-wide IT issues on Friday morning.In the US, Amtrak confirmed to customers on X that they were experiencing problems with their booking website, and <a target="_blank" class="" href="https://www.businessinsider.com/nyc-dc-subway-global-it-outage-crowdstrike-new-york-washington-2024-7">arrival information at some stations</a> was not working.Drivers were not exempt from the travel chaos either.Some Speedway gas stations around the US closed because digital gas pumps failed to work, and others were not accepting payments, a Speedway customer service employee confirmed to BI."They had to move to cash only and some don't have any internet," the employee said.

Airline passengers face chaos and uncertainty after massive IT outage

New Delhi [India], May 20 (ANI): A recent Certified Practising Accountant (CPA) Australia survey has revealed an overwhelming optimism among <keyword id="21735155" type="General" weightage="100" keywordseo="Indian-small-businesses" source="keywords">Indian small businesses</keyword>, with 84 per cent anticipating continued growth in 2024, significantly surpassing the market average of 70 per cent. Despite global <keyword id="20413867" type="General" weightage="20" keywordseo="economic-uncertainties" source="keywords">economic uncertainties</keyword>, 80 per cent of Indian respondents remain confident about the local economy's prospects for 2024, well above the survey average of 65 per cent. This buoyant outlook has been on an upward trajectory since 2022, highlighting the resilience and dynamism of India's small business sector. <keyword id="21735156" type="General" weightage="20" keywordseo="CPA-Australia-survey" source="keywords">CPA Australia survey</keyword> showed a rise in the growth rate of Indian <keyword id="390673" type="General" weightage="20" keywordseo="small-businesses" source="Orion">small businesses</keyword> from 73 per cent in 2022 to 77 per cent in 2023--the highest since 2019. Indian small businesses are riding a wave of optimism and growth, according to <keyword id="21735157" type="General" weightage="20" keywordseo="CPA-Australia" source="keywords" meta.keywordsubtype="org" meta.entityname="CPA Australia" meta.hostid="261" meta.entityid="CPA Australia">CPA Australia</keyword>'s latest annual Asia-Pacific Small Business Survey. The survey reveals that over three-quarters of Indian small businesses reported growth in 2023, surpassing pre-pandemic levels and making India's small business sector one of the most dynamic and fastest-growing in the Asia-Pacific region. Prafulla Chhajed, a CPA member of CPA Australia in India, emphasized the critical role of Micro, Small, and Medium-sized Enterprises (<keyword id="19910977" type="General" weightage="20" keywordseo="MSMEs" source="keywords">MSMEs</keyword>) in driving India's economic success. Chhajed said, "Micro, Small and Medium-sized Enterprises (MSMEs) are making a significant contribution to India's economic success. Not only is India's rapid economic growth and improving business environment boosting their confidence, support from the government ranging from digitalisation to access to funds, is assisting businesses to recover from the pandemic." He further said, "India's small businesses are enthusiastically improving their performance through innovation, adopting technologies, and building connections with overseas markets. 'Good staff' was nominated as the top positive factor that benefited India small business performance in 2023. It explains why Indian respondents have been so willing to add new employees over the past two years". "This year the pace in jobs creation by small businesses is expected to slow, although remain high in comparison to other markets. This is most likely due to a combination of factors including increasing levels of automation and rising labour costs," he added. However, Chhajed cautioned that the pace of job creation might slow down due to rising automation and labor costs, though it will still remain high compared to other markets. The survey highlighted several challenges faced by Indian small businesses, including increasing costs, competition, and cashflow difficulties. Staff and material costs were particularly detrimental in 2023, rising slightly from the previous year. To cope with these expenses and support growth, 68 per cent of small businesses sought external funding last year, though this figure dropped 20 percentage points from 2022. This year, 81 per cent plan to seek finance, despite tougher financing conditions. Only 42 per cent of respondents found it easy to secure funds in 2023, a sharp decline from 69 per cent in 2022. This trend is expected to continue, with just 43 per cent anticipating ease in accessing funds this year, down from 64 per cent previously. "Difficulty in accessing finance is a common challenge for small businesses worldwide. Though government loans like <keyword id="20151906" type="General" weightage="20" keywordseo="pradhan-mantri-mudra-yojana" source="keywords">Pradhan Mantri MUDRA Yojana</keyword> (PMMY) helps to foster entrepreneurship by offering financial support, MSMEs should not solely rely on borrowing to fund their long-term development, particularly in a high-interest rate environment", Chhajed explained. A significant number of Indian small businesses focused on managing costs and cash flow last year. Among the technologies they invested in, accounting software was particularly popular, with 23 per cent adoption. Professional advice was also sought frequently, with 34 per cent consulting accountants and 38 per cent seeking advice from friends and family. "Indian MSMEs are very competitive in many areas such as digitalisation and innovation, now they should focus on cost management and cashflow to increase their financial return. It's wise to use accounting software to control cost and analyse financial performance regularly. Further, financial experts like qualified accountants may provide professional advice to small businesses to manage technical issues like taxation and improve financial performance", Chhajed suggested. Indian small businesses also show a strong inclination towards innovation and global expansion. Leading the 11 surveyed markets, 34 per cent of respondents expect substantial revenue growth from overseas markets this year, significantly higher than the survey average of 19 per cent. Additionally, 44 per cent plan to introduce new products or services, compared to the market average of 29 per cent. Chhajed said, "The Indian government has established good platforms to bolster our MSMEs' global expansion, for example, international trade fairs for MSMEs. He added, "They could leverage these opportunities to connect with overseas customers and promote their novel products globally. Besides, our thriving digital economy also fosters MSMEs' innovation and revolution in the digital era." The survey gathered insights from 4,222 small businesses across 11 Asia-Pacific markets, including 505 respondents from India, providing a comprehensive overview of the region's small business landscape. (ANI)

84% of Indian small businesses anticipate robust growth in 2024: CPA Australia survey

<ul class="summary-list"><li>Tom Lee has long called for a stock market rally after the Federal Reserve cuts interest rates.</li><li>But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election.</li></ul>Prominent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates.But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election. "This Fed cut cycle I think is setting the stage for markets to be really strong over the next one month or next three months," Lee, co-founder and head of research at Fundstrat Global Advisors, told CNBC in a Thursday interview."But, what the stocks do between now and let's say election day, I think is still a lot of uncertainty. And that's the reason why I'm a little hesitant for investors to dive in," he added.In the days leading up to the Fed's policy meeting, Lee said a rate cut would <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fed-rate-cuts-recession-outlook-fomc-meeting-2024-9">position stocks for a multi-week rally</a>, bolstered by further confidence that more rate cuts are on the horizon and that a soft landing is in the cards. That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely. Even then, though, Lee acknowledged there would be volatility leading up to the election, but would calm down afterward for a strong year ahead.Lee has been bullish on stocks for years, with predictions that the S&amp;P 500 could triple, hitting <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-triple-by-2030-tom-lee-fundstrat-2024-6#:~:text=In%20a%20recent%20interview%20on,normal%20S%26P%20cycle%20following%20demographics%E2%80%A6?utm_medium=ingest&amp;utm_source=markets">15,000 by 2030</a>.Other analysts have also acknowledged the market volatility associated with presidential elections.That volatility <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">typically peaks in mid-October</a> ahead of the elections in November, after which stocks see a relief rally once the outcome is known, SoFi's Liz Young Thomas told Business Insider earlier this month.With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.Small-cap shares, in particular, will benefit from rate cuts and what Lee calls a "cyclical boost to the economy," which will result from a drop in consumers' costs like mortgages, auto loans, and credit cards."All these are big tailwinds for small caps," he said.

Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat's Tom Lee says

<ul class="summary-list"><li>Joe Biden's withdrawal from the 2024 presidential race is causing market uncertainty.</li><li>Investors were already trying to position themselves following the failed assassination attempt on former President Trump on July 13.</li></ul>US President <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-dropping-out-presidential-race-2024-7">Joe Biden's withdrawal from the presidential election</a> is throwing fresh uncertainty into the markets for a second straight week.Investors were already trying to position themselves for the so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-dominate-markets-weekend-shooting-bitcoin-dollar-inflation-bonds-2024-7">"Trump trade"</a> following the failed assassination attempt on former President Donald Trump on July 13. Now, they are trying to figure out how Biden dropping out would change the game.Analysts are gearing up for volatility."We have seen some rotation toward 'red' sectors and away from 'blue' ones in recent weeks as recent momentum has favored the Republican party," Mark Haefele, UBS Global Wealth Management's chief investment officer, wrote in a note on Sunday. "That could at least partially reverse in the coming days as markets parse the latest developments."The US dollar — which is expected to gain under a potential Trump presidency — weakened on Monday. This helped dollar-denominated spot gold rise 0.2% to above $2,400 an ounce.Markets at large were relatively calm following Biden's withdrawal after the Trump trade gripped sentiment last week. S&amp;P 500 stock futures were 0.2% at 1:33 a.m. ET, while Nasdaq-100 futures were up 0.4%.Yields for 10-year US Treasury yields were 1.7 basis points lower, "which may reflect a little less risk of even more fiscal spending," Jim Reid, a multi-asset research strategist at Deutsche Bank, wrote on Monday.Both EUROSTOXX 50 and FTSE futures were slightly higher.Kyle Rodda, a senior market analyst at trading platform Capital.com, told Business Insider that Biden's withdrawal from the race also removes a layer of uncertainty in the market."This move probably improves the chances of the Democrats to win the presidency," said Rodda, referring to Biden's decision not to seek a second term.Gold, as a safe haven asset, is likely to come under pressure should Harris' chances improve, since it reduces the risk of fallout from Trump's hawkish foreign policy and massive deficit spending, Chris Weston, the head of research at Australian onine broker Pepperstone, wrote in a note.<h2 id="b3f48522-54de-4da9-82d3-437e495c1682">Investors are watching to see if Harris wins the Democrats' nomination</h2>Investors are still focusing on whether the Democratic Party will nominate Kamala Harris as its presidential candidate."There is a small risk that Harris' presumptive nomination is met with resistance within the Democratic Party and causes internal divisions, leading to calls for another candidate," said Rodda. "That would reignite the volatility we saw at the end of last week."The <a target="_blank" class="" href="https://markets.businessinsider.com/">CBOE Volatility Index</a> rose 33% last week following the assassination attempt on Trump, reflecting market jitters over the political landscape. The index was not yet open for trade on Monday as of the time this article was published.Analysts don't expect the Democrats' fiscal and trade policy agenda to shift much if they nominate Harris."The Dems will want to position her as a continuity candidate," said Rodda."Biden's withdrawal resets the contest. However, to the extent that Harris is nominated to succeed Biden as the Democratic standard-bearer, we believe the dynamics of the election will not change as much as one might expect," said UBS' Haefele."The American electorate is highly polarized and most of Biden's supporters will be reluctant to abandon the party's nominee," he added.<h2 id="e61103fa-8cc5-45d1-b7c4-8f13267a9b79">Focus on fundamentals</h2>Despite the uncertainty, UBS advises investors to not forget fundamentals matter too — maybe even more so than politics."Investors should remember that US political outcomes are far from the largest driver of financial market returns, or even sector performance," wrote Haefele.The Swiss bank is advising investors to not alter their strategies too dramatically based on political expectations."Economic data and Fed rate cut expectations remain at least as important," Haefele added.

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