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The stock of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd climbed nearly 3 per cent during the late afternoon trade on Thursday following the announcement that the company's board will consider issuing 1:1 bonus shares on September 5. Shares of the firm jumped 2.63 per cent to Rs 3,074.80 on the BSE as soon as the announcement came in. At the NSE, the bellwether stock climbed 2.58 per cent to Rs 3,074. The company's market valuation also surged Rs 42,399.24 crore to Rs 20,60,461.42 crore. <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword>, the nation's most valuable company, had last issued bonus shares in September 2017. "A meeting of the Board of Directors of the company is scheduled to be held on Thursday, September 5, 2024, to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company by capitalisation of reserves," the firm said in the stock exchange filing. Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.

Reliance Industries valuation jumps by Rs 42,399 crore following 1:1 bonus shares consideration announcement

The IPO of ACME Solar, which opened for subscription yesterday, has been subscribed 1.81x in the retail investors category and 0.6x overall. The offer, worth Rs 2,900 crore, is a combination of Rs 2,395 crore of fresh issue and Rs 505 crore worth of OFS (offer for sale). With a price band of Rs 275-289, the IPO will close for subscription tomorrow. Retail investors can invest in a minimum of 1 lot of 51 shares, bringing the total amount to Rs 14,739. The company is set to list on both NSE and BSE on November 13, 2024. Despite the company's strong presence in the renewable energy space, the company's GMP (grey market premium) remains muted, almost negligible, trading at Rs 0 today. ACME's GMP has been dipping ever since November 30, 2024, when it stood at Rs 30. The allotment of shares is scheduled for November 11, 2024, with a tentative listing date on the BSE and NSE set for November 13, 2024. The company amassed Rs 1,300.5 crore via the issue of 4.5 crore equity shares from anchor investors ahead of its IPO. Around 1.5 crore equity shares, or about 33.4% of the total anchor book, were lapped up by 8 domestic mutual fund houses through a total of 17 schemes. <h2>About the company </h2>ACME Solar is one of India's top 10 renewable energy-independent power producers. To date, the company has developed a total of 2,719 MW of solar power projects. In terms of financial performance, over the last three fiscal years, the company has reported (on a consolidated basis) a total income of Rs 1,562.73 crore in FY22, Rs 1,361.67 crore in FY23, and Rs 1,466.27 crore in FY24. In terms of net profit/loss, ACME Solar incurred a net profit of Rs 62.01 crore in FY22, a loss of Rs 3.15 crore in FY23, and Rs 697.78 crore in FY24. For the first quarter of FY25, the company's revenue from operations stood at Rs 340.01 crore, while earning a net profit of Rs 1.39 crore. The company intends to utilize the IPO proceeds to repay and prepay part of its outstanding borrowings, and also for general corporate purposes. However, the company is not without its fair share of risks. Around 63.22% of its FY24 revenue is concentrated in just three Indian states—Andhra Pradesh, Rajasthan, and Telangana. Also, the company's business is highly dependent on its top 10 off-takers, which contributed 95.42% to its revenue as of the quarter ended June 30, 2024, 87.48% to its revenue in FY23, and 81.11% to the company's income in FY22. The loss of any of these off-takers can have adverse effects on their business, financial condition, results of operations, and cash flows. Moreover, not only does its growth depend on winning highly competitive project bids, but it is also highly reliant on government-owned transmission grids and infrastructure. <h2>Should you subscribe? </h2>Per Bajaj Broking, the issue appears to be aggressively priced, yet they would recommend subscribing to the IPO for the long term. "Over the past three fiscal years, the company has achieved an average EPS of Rs. 6.44 and an average RoNW of 13.95%. The issue is priced at a P/BV of 7.77 based on its NAV of Rs 37.19 as of June 30, 2024. When annualizing FY25 earnings to the post-IPO fully diluted equity base, the asking price results in a P/E of 3211.11, while based on FY24 earnings, the P/E stands at 25.06". However, there are financial concerns that cannot be ignored. "FY24 appears to be an exceptional year with significantly boosted profits, but otherwise, the company has shown inconsistent top and bottom lines over the reported periods. Its debt-equity ratio of 3.89 as of June 30, 2024, is notably high and raises concerns," it adds. According to Anand Rathi Research, the IPO can be subscribed to in the long run. "At the upper price band, the company is valued at a P/E of 30.17x, with an EV/EBITDA of 22.4x and a market cap of Rs 1,74,868 million post-issue of equity shares and a return on net worth of 26.93%. We believe that the IPO is richly priced," adds the note.

ACME Solar IPO: Should you subscribe? Here's all you need to know

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword>' 2024 annual report revealed that <keyword id="20671686" type="General" weightage="100" keywordseo="JioBharat" source="keywords">JioBharat</keyword>, an affordable keypad smartphone, has achieved an impressive 50 per cent <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in the <keyword id="3342432" type="General" weightage="20" keywordseo="sub-rs-1" source="Orion">sub-Rs 1</keyword>,000 segment. Launched with the mission to empower every Indian with digital services, JioBharat has marked a significant step towards digital freedom for the 250 million feature phone users in India, bridging the digital divide like never before. Since its launch a year ago, JioBharat has been transforming lives by offering features and digital capabilities such as UPI, JioCinema, and JioTV, enabling various segments of society to achieve more. This affordable device not only empowers users with smartphone capabilities but also provides high-quality and affordable data, making it accessible to the common people. Despite the recent industry-wide tariff increases, <keyword id="2003276" type="General" weightage="20" keywordseo="Jio" source="Orion">Jio</keyword> has maintained consistent pricing for JioBharat, allowing users to enjoy full digital capabilities at just Rs 123 per month. In contrast, the most affordable plans from other operators start at Rs 199 per month and enables access to limited functionality, restricted to voice and SMS services, as their feature phones do not support data or LTE usage. In his letter to shareholders, <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, Chairman of Reliance Industries Ltd, stated, "The launch of the JioBharat phone is another revolutionary step towards bridging the country's digital divide. A smartphone at the price of a feature phone, the JioBharat phone will go a long way in realizing a 2G-mukt Bharat." In 2016, when Jio was launched, it left no stone unturned to democratise internet access and pass the benefits of technology to every Indian. With affordable high-speed data and a ubiquitous network, technology was no longer a privilege for a select few. The subsequent launch of affordable devices like <keyword id="22711694" type="General" weightage="20" keywordseo="jiophone" source="keywords">JioPhone</keyword> and the availability of affordable wired broadband (<keyword id="20282548" type="General" weightage="20" keywordseo="jiofiber" source="keywords">JioFiber</keyword>) has truly democratised data connectivity. "With the launch of Jio 4G in 2016, we set out on a journey to make digital inclusion in India a reality. Jio turned a Data Dark India into a Data Rich nation, supplying every Indian home with affordable, high-speed 4G data. And this year, Jio has further enhanced the country's digital infrastructure by rolling out its True5G network across India in world-record time," states Mukesh Ambani's letter to shareholders in the latest annual report released on Thursday.

JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

<ul><li><keyword id="22600395" type="General" weightage="20" keywordseo="KRN-Heat-Exchanger" source="keywords" meta.keywordsubtype="org" meta.entityname="KRN Heat Exchanger" meta.hostid="261" meta.entityid="KRN Heat Exchanger">KRN Heat Exchanger</keyword> has listed with a premium of over 118% on Thursday.</li><li>The company’s share price is listed at ₹470, against an issue price of ₹220.</li><li>The company's <keyword id="20097096" type="General" weightage="20" keywordseo="market-valuation" source="keywords">market valuation</keyword> stood at ₹2,980.10 crore.</li></ul>Shares of KRN Heat Exchanger And Refrigeration Ltd listed with a premium of over 118% on Thursday against the issue price of ₹220. The stock listed at ₹470, reflecting a jump of 113.63% from the issue price on the BSE. Later, it zoomed 125.90 per cent to ₹497. At the <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords">NSE</keyword>, it surged 118.18 per cent to ₹480. The company's market valuation stood at ₹2,980.10 crore. The initial share sale of KRN Heat Exchanger and Refrigeration Ltd garnered 213.26 times subscriptions on the closing day of bidding on Friday, helped by overwhelming participation from institutional investors. The ₹342-crore Initial Public Offer (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) had a price range of ₹209-220 per share. The Rajasthan-based company manufactures fin and tube-type heat exchangers for the heat ventilation, air-conditioning and refrigeration industry. The company's entire manufacturing operations are carried out at its consolidated manufacturing facility comprising two industrial plots situated in the RIICO Industrial Area, Neemrana, <keyword id="19898913" type="General" weightage="20" keywordseo="Rajasthan" source="keywords">Rajasthan</keyword>. The company has a 7,800 sq. mt manufacturing facility in Neemrana, Rajasthan. Its customers include Daikin, Blue Star, Carrier, Voltas and more. It also exports its products to the USA, UAE, UK and more. The company’s income was ₹308.28 crore in FY24, up from ₹247.48 crore in FY23. The company reported a profit after tax (PAT) of ₹39.07 crore in FY24, up from ₹32.31 crore PAT reported in FY23. As per the company, the funds raised will be used to invest in a new subsidiary and for general corporate purposes. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/bmw-ce-02-electric-scooter-launched-in-india-at-4-50-lakh/articleshow/113849708.cms">BMW CE 02 electric scooter launched in India at ₹4.50 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a>

KRN Heat Exchanger share price jumps over 118% on listing

<ul><li>Stock markets opened marginally up on Monday, starting the week on a cautious note.</li><li>Experts noted that the effect of the Chinese stimulus and <keyword id="20064250" type="General" weightage="20" keywordseo="geopolitical-risks" source="keywords">geopolitical risks</keyword> in <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> is slowing.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> and Angel One are the major companies set to announce their quarterly results today.</li></ul>On Monday, the stock markets started the week cautiously, with both indices showing small gains. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> index went up by 59.20 points and opened at 25,023. The BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index also did well, going up by 0.24% or 195 points to open at 81,576.93. Experts say that the Chinese stimulus and the world's politics are having less of an effect on Indian markets. But the upcoming US presidential election is making the world more volatile, so the markets won't be able to relax anytime soon. "Chinese stimulus boost is wearing thin but Indian markets are not benefitting for now. Earnings will be drivers of the Indian markets this week. The geopolitical risks have reduced slightly with a relatively calm weekend in the Middle East. October has played out to the US Presidential cycle historical performance. Expect more volatility going into the tight US race and a relief rally post the Nov 5th vote" said Ajay Bagga, Banking and Market Expert. The equity market experienced a surge in prices today, with all sectors demonstrating a positive trend from the outset. Nifty Media emerged as the standout performer, registering a significant increase of 0.55% at the opening bell. Investors are advised to closely monitor the performance of Reliance Industries, HCL Technologies, Angel One, and Alok Industries. These companies are scheduled to release their quarterly financial results later today. "Nifty continues to remain in a range of 24800 to 25200. However, FIIs long continue to be at 36% indicating the rise of net shorts which can see a selling pressure in indices at resistances. For any short covering in Nifty, it has to cross the 25300+ level for the same. However, were the support of 24800/24750 to break, a fresh round of selling can be witnessed towards the 24500/24300 range" said Soni Patnaik, AVP, Derivatives Research Analyst, JM Financial Services. In other Asian markets on Monday, Hong Kong's Hang Seng index was down by 1.21%, along with Taiwan's Taiwan Weighted, which was also down marginally. South Korea's KOSPI index gained 1% at the time of filing this report. <h2>FPIs turn net seller in October</h2>Foreign investors turned net sellers in October, withdrawing shares worth ₹58,711 crore in the month so far owing to the escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of ₹57,724 crore in September. Looking ahead, global factors such as geopolitical developments and the future direction of interest rates will play a crucial role in determining the flow of foreign investments into the Indian equity markets, as per Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India. The geopolitical crisis has also led to a sharp rise in Brent crude oil prices from $69 per barrel on Sep 10 to $79 per barrel on Oct 10, which poses inflationary risks and increases the fiscal burden for India, he added. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-leads-the-first-phase-of-festive-sales-with-a-20-market-share/articleshow/114070723.cms">Samsung leads the first phase of festive sales with a 20% market share</a>

Nifty, Sensex open with gain: experts note reduction of geopolitical risks on markets

<ul class="summary-list"><li>Indexes fell for a second day on Thursday as a huge week for tech earnings shows mixed results.</li><li>Meta and Microsoft slid after slight earnings beats, and Amazon and Apple are set to report after market close.</li></ul>Indexes slid on Thursday, heading for a second day of declines as big tech earnings fail to impress investors so far.The S&amp;P 500 and Nasdaq both slid, and the Dow Jones Industrial Average lost over 200 points shortly after the opening bell.The drop comes amid a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-tech-earnings-gdp-inflation-jobs-report-economy-2024-10?_gl=1*lobd5h*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDMxNTM4MS4zMzguMS4xNzMwMzE5NTU1LjYwLjAuMA..">packed week for earnings</a>, with several of the biggest tech stocks reporting third-quarter results.Microsoft and Meta reported earnings that beat estimates after the closing bell on Wednesday, but the shares of both tech giants slid on forward guidance. Microsoft declined more than 4% after it shared expectations for slower growth in its cloud business, while Meta shares lost over 2% after forecasting "significant" capital expenditures growth next year.Earlier in the week, <a target="_blank" class="" href="https://www.businessinsider.com/google-third-quarter-earnings-report-q3-2024-2024-10#:~:text=Google's%20parent%20company%2C%20Alphabet%2C%20released,AI%20products%2C%20the%20company%20said.">Alphabet's earnings</a> beat generated more enthusiasm among investors as CEO Sundar Pichai said the company's AI investments are "paying off."Investors are bracing for earnings from Apple and Amazon after market close today. They will be paying particularly close attention for <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-q4-earnings-preview-wall-street-ai-fuels-iphone-demand-2024-10">signs that AI is driving iPhone demand for Apple</a>, especially after the company rolled out its iOS 18.1 update earlier this week, and they expect a <a target="_blank" class="" href="https://www.businessinsider.com/amazon-earnings-preview-aws-consumer-spending-retail-ai-project-kuiper-2024-10">strong beat from Amazon</a>.Meanwhile, the personal-consumption expenditures index, the Fed's preferred inflation gauge, cooled to 2.1% year over year in September from 2.2% in August. That marks progress toward the Fed's 2% inflation target, but the core index—which excludes food and energy prices—came in hotter than expected at 2.7%.Jobless claims from last week fell by more than expected to 216,000, a 12,000 drop from the week prior. Economists had expected claims to come in at 230,000.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>: 5,764.93, down 0.84% </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>: 41,943.67, down 0.47% (-198.87 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>: 18,372.58, down 1.25% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/trump-harris-immigration-jobs-arizona-economy-mass-deportation-employment-wages-2024-10">Arizona is the epicenter of the debate</a> about how mass deportations under Trump would hit the US economy. </li><li>Bringing manufacturing back to the US is a <a target="_blank" class="" href="https://www.businessinsider.com/us-manufacturing-production-boom-economy-made-in-america-trade-war-2024-10">$10 trillion opportunity</a> for the economy, Morgan Stanley says.</li><li>Stocks are gripped by <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-election-impact-trump-harris-economy-ai-citi-2024-10?_gl=1*1sq6l9x*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDM4MDA3NS4zMzkuMS4xNzMwMzgwNjUyLjM3LjAuMA..">"near-euphoric sentiment"</a> and the election may offer a chance to pull back, Citi says.</li><li>Nvidia stock is undervalued because AI companies <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-undervalued-9-trillion-ai-spend-masayoshi-son-softbank-2024-10?_gl=1*l4g43y*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDM4MDA3NS4zMzkuMS4xNzMwMzgwNzQwLjU5LjAuMA..">need to spend another $9 trillion</a> to achieve superintelligence, Softbank CEO says.</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 almost 1% to $69.27 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 0.8% to $73.13 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 slipped almost 1% to $2,776.80 an ounce.</li><li>The 10-year Treasury yield rose two basis points to 4.292%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged up to $71,869.</li></ul>

Stock market today: Indexes drop as tech shares slide before Apple, Amazon earnings

<ul class="summary-list"><li>The Dow closed above 44,000 and the S&amp;P 500 closed above 6,000 for the first time on Monday.</li><li>Bitcoin soared 8% to hit a record high as crypto's post-election rally continued. </li></ul>US stocks were higher on Monday, with the <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> jumping about 300 points while the <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> edged slightly higher.The Dow closed above the 44,000 level for the first time ever, while the S&amp;P 500 hit a record intra-day high and closed above the 6,000 level for the first time.The Trump trade was largely extended on Monday, with shares of Tesla, bitcoin, the US dollar, and shares of US banks all surging.Bitcoin jumped 8% to hit a record high of $87,478. Crypto investors continued to celebrate Trump's win, which the <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">market expects to be a positive</a> catalyst amid the President-Elect's promises of policies aimed at boosting the sector. Meanwhile, tech shares mostly slumped, with shares of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, the world's three largest companies, all down about 1%.Investors' top concern this week is inflation data, with consumer price index data for the month of October set to be released Wednesday morning.Economists expect a 2.5% year-over-year jump in CPI, compared to a rise of 2.4% in the prior month."While economic fundamentals suggest inflation should continue to moderate, policy changes pose an upside risk to the outlook. Nevertheless, we think the October CPI report will be good enough for the Fed to follow through with a 25bp cut in December," Bank of America said on Monday.In addition to inflation data, corporate earnings remain on investors' radars, though they are starting to wind down.So far, 91% of S&amp;P 500 companies have reported third-quarter results. Of those companies, 77% beat profit estimates by a median of 6%, while 59% beat revenue estimates by a median of 6%, according to data from Fundstrat.Nvidia is the last big company that will report earnings. The chip giant is scheduled to report its third-quarter results after the market close on November 20.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>: 6,001.35, up 0.10%</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>: 44,293.13, up 0.69% (+304.14 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>: 19,298.76, up 0.06% </li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-short-sellers-losss-donald-trump-election-tsla-elon-musk-2024-11">Tesla short-sellers have lost $8 billion since Donald Trump's election win, according to S3 Partners.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-policies-tax-cuts-inflation-government-debt-deficit-jeremy-siegel-2024-11">President-elect Trump could dial back some of his proposed policies in a bid to not upset the stock market, Jeremy Siegel said.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">Economists say Trump could give Americans the very thing they voted against.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-reaches-80000-for-first-time-trump-election-crypto-2024-11">Bitcoin surged past the $80,000 price level over the weekend and hit a high of $82,500.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/retirement-saving-inflation-cost-of-living-crisis-investing-401k-pensions-2024-11">Americans' cost-of-living anxiety is creating a population of oversavers.</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 declined 3.13% to $68.18 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 2.59% to $71.96 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> dropped 2.41% to $2,629.90 an ounce.</li><li>The 10-year Treasury yield was unchanged as the bond market was closed in observance of Veterans Day.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> surged 8.37% to $87,160.69.</li></ul>

Stock market today: Dow closes above 44,000, tech shares stumble as traders eye inflation data

<ul class="summary-list"><li>US stocks raced to record highs after the 2024 presidential election concluded.</li><li>Investors seem certain that President-elect Donald Trump's policies are best for stocks.</li></ul>Wall Street is in love with Donald Trump, as if there was ever any doubt.A robust, multi-year bull market rally for US stocks reached another gear after the businessman-turned-politician <a target="_blank" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">won the presidential election</a>. The S&amp;P 500 just topped 6,000 for the first time ever, and the tech-focused Nasdaq Composite is also in uncharted territory.Traders are convinced that the bulk of <a target="_blank" href="https://www.businessinsider.com/donald-trump-election-victory-impact-investments-costs-housing-taxes-childcare-2024-11">Trump's economic policies</a>, which include tax cuts and fewer government regulations, will create a business-friendly backdrop that drives stocks higher."Investor sentiment is pro-growth, pro-deregulation, and pro-markets," said David Bahnsen, the chief investment officer at The Bahnsen Group, in recent commentary sent to Business Insider.<h2 id="3e5bdf8a-fc97-4e3d-a950-f23703f0015e">'Animal spirits' have been unleashed</h2>While some are skeptical of the consensus view, <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-trump-president-economy-tariffs-trade-war-kelly-2024-11">including those who are terrified about tariffs</a>, it looks as if investors broadly are scrambling to add exposure to equities. A staggering $22 billion flowed into exchange-traded funds on Wednesday, which was more than four times higher than the previous record for the day after the US election, according to State Street Global Advisors.Markets may hate uncertainty even more than tax hikes, so it's possible that a Kamala Harris win also could have sparked a relief rally.But that might dismiss how ecstatic big-money investors are about another Trump term, given that the S&amp;P 500 rose over 50% from his victory in 2016 until shortly before the pandemic."Business animal spirits could be rekindled once again from Trump's pro-business approach, which could lead to a more robust capital expenditures and investment environment," said Jeff Schulze, the head of economic and market strategy at ClearBridge Investments, in commentary.That term, "<a target="_blank" href="https://www.investopedia.com/terms/a/animal-spirits.asp">animal spirits,</a>" was coined in the 1930s by famed economist John Maynard Keynes, who remarked that investors' decisions are often driven by intense emotions like greed and fear.Anthony Saglimbene, Ameriprise's chief market strategist, borrowed Keynes' famous phrase to make the same point as Schulze: investors may be euphoric for the foreseeable future."Animal spirits through year-end could push major averages higher as the overhang of the election is removed and investors look to put excess cash to work in stocks," Saglimbene said in commentary.<h2 id="648d2368-71e0-40ed-9ed5-95b7faf9578c">How to invest after Trump's win</h2>Although the US economy <a target="_blank" href="https://www.businessinsider.com/economy-outlook-tariffs-trump-trade-war-slowdown-jpmorgan-david-kelly-2024-10">looks healthy by most measures</a>, many market strategists are counting on an even bigger boom under Trump that <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-election-investing-strategy-2016-comparison-morgan-stanley-2024-11">would benefit economically sensitive stocks</a>."This broad 'risk-on' mood for the U.S. stock market is cutting across all sectors, but particularly favoring more cyclically sensitive sectors that would benefit from a re-strengthening of the economy and tailwinds to corporate profitability," said Jim Baird, the chief investment officer at Plante Moran Financial Advisors, in written commentary sent to BI.Sectors that are heavily reliant on economic growth, like energy and financials, will stay hot, said Sébastien Page, the head of global multi-asset at T. Rowe Price, in a recent interview."I don't think it's over the top," Page said of the postelection market rally.Several of the strategists and investment chiefs that Business Insider leaned on for this story also cited small caps as a top idea, provided that the economy stays strong and taxes fall."Enough people had been worried about, 'Could we have a credit cycle? Could we have an economic slowdown into next year? What would increases in taxes and regulation do?'" said Sean Gallagher, the global head of Lazard's small-cap equity platform, in an interview.He continued: "Now that's off the table. I think it just increases small-business optimism. I think it'll increase <a target="_blank" href="https://www.investopedia.com/terms/c/capitalexpenditure.asp">CapEx</a>, which has been kind of held back."Smaller companies performed admirably early on in Trump's first tenure, though <a target="_blank" href="https://www.businessinsider.com/cheap-stocks-to-buy-strong-growth-market-outlook-garp-bmo-2024-10">they've lagged large caps for years</a>. Gallagher is highly optimistic about the group again, both because of the economic environment and their valuations, which are <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-small-mid-caps-market-rotation-outlook-bmo-2024-10">startlingly cheap relative to their peers</a>.Schulze from ClearBridge is also aboard the cyclical and small caps train. The strategist is fired up about what Trump's penchant for lower taxes and limited regulations means for industrials, consumer discretionary stocks, and financials.Saglimbene from Ameriprise concurred again that "the backdrop for financials could improve, as less regulation and the potential for merger/acquisition and capital market activity accelerate."Add the technology sector to the list of winners from less governmental oversight, Bahnsen said. Tech companies seem like a clearer beneficiary since the Federal Trade Commission (FTC) should be less hostile to their interests.For all the optimism in markets, some strategists are branching out from stocks.Jim Thorne, who's the chief market strategist at Canada-based wealth management firm Wellington-Altus, said in commentary that he's most interested in gold and bitcoin, which some have referred to as the yellow metal's digital doppelgänger.The world is awash with cash, making scarce assets like gold and bitcoin more valuable, and Thorne also noted that global economic growth is slowing. That suggests that the path forward for risk assets may not be smooth — even if Trump is successful in his second term."Investors should brace for volatility and shifts in market leadership as we transition to a peacetime economy, shaped by Trump's policies," Thorne said in written commentary.

'Animal spirits': 7 market strategists share how to ride the red wave as US stocks surge to new records

Shares of Anil Ambani-led group firms -- <keyword id="20367971" type="General" weightage="20" keywordseo="reliance-home-finance" source="keywords">Reliance Home Finance</keyword> Ltd, <keyword id="6360089" type="General" weightage="20" keywordseo="Reliance-Power" source="Orion">Reliance Power</keyword> and <keyword id="46907" type="General" weightage="20" keywordseo="Reliance-Communications" source="Orion">Reliance Communications</keyword> -- hit their <keyword id="10112182" type="General" weightage="20" keywordseo="lower-circuit-limits" source="Orion">lower circuit limits</keyword> on Monday as investors continued to desert the counters after markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> barred the industrialist and 24 others from the securities market for five years on charges of diversion of funds from <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Home Finance Ltd. The stock of Reliance Power dropped 4.99 per cent to hit the lower circuit limit of Rs 32.73 on the BSE. Shares of Reliance Home Finance Ltd tumbled 4.93 per cent to Rs 4.24 -- the lowest trading permissible limit for the day. Reliance Communications dived 4.92 per cent to touch the lower circuit of Rs 2.32. Reliance Infrastructure also declined 2.90 per cent to Rs 205.55. Shares of Reliance Infrastructure, Reliance Home Finance and Reliance Power had slumped on Friday also. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or Key Managerial Personnel (KMP) in any listed company or Sebi-registered entity for five years. Besides, a fine ranging Rs 21 crore to Rs 25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it. After receiving multiple complaints alleging the diversion/siphoning of funds of Reliance Home Finance Ltd, Sebi conducted an investigation for the period of FY 2018-19 to ascertain any regulatory violations. In its probe, Sebi found that <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>, with the help of RHFL's KMPs -- Amit Bapna, Ravindra Sudhalkar and Pinkesh R Shah -- have orchestrated a fraudulent scheme to "siphon off" funds from RHFL by disguising them as loans to entities linked to him. Although the board of directors of RHFL had issued strong directives to stop such lending practices and review corporate loans regularly, the company's management ignored these orders. Sebi, in its 222-page order on Thursday, noted the cavalier approach by the company's management and promoter in approving loans worth hundreds of crores to companies that had little to no assets, cash flow, net worth, or revenue. This suggests a sinister objective behind the 'loans'. The situation becomes even more suspicious when considering that many of these borrowers were closely linked to the promoters of RHFL. Eventually, most of these borrowers failed to repay their loans, causing RHFL to default on its own debt obligations. This led to the company's resolution under the RBI Framework, leaving its public shareholders in a difficult position.

Reliance Home Finance, Reliance Power shares hit lower circuit limits

The <keyword id="21233022" type="General" weightage="20" keywordseo="Indian-textile-industry" source="keywords">Indian textile industry</keyword> is set to experience developments in 2024, driven by improving demand in <keyword id="21017131" type="General" weightage="20" keywordseo="export-markets" source="keywords">export markets</keyword>, resilient consumer spending in key sectors, and favourable geopolitical conditions, according to the B&amp;K Securities report. In the ready-made garments (RMG) sector, the demand offtake in export markets is anticipated to show substantial improvement in 2024. While domestic demand is expected to remain moderate due to lower discretionary spending and overstocking from the previous fiscal year, the recovery in export demand is promising. The domestic market could see a boost in the second half of FY25, supported by an increase in wedding days and festive season, although the rise in realisations is likely to be marginal. The export growth in RMG is expected to be driven by a combination of factors including restocking by Western retailers, increased demand for spring-summer collections, and a general uptick in retail sales. The anticipated interest rate cuts in the US will further stimulate demand. India's RMG exports will also benefit from stable cotton prices and uninterrupted supply, enhancing cost competitiveness on the global stage. The ongoing crisis in Bangladesh, a major player in the global RMG market, presents a temporary tailwind for Indian exporters. However, the benefits for India are expected to be short-lived due to differences in product portfolios and Bangladesh's trade agreements with the European Union. Over the medium to long term, India could see more substantial gains as global buyers continue to diversify their <keyword id="19959553" type="General" weightage="20" keywordseo="supply-chains" source="keywords">supply chains</keyword> away from China and Bangladesh, particularly as Bangladesh faces challenges such as rising wages and the loss of its Least Developed Country (LDC) status by 2029. The <keyword id="21356289" type="General" weightage="20" keywordseo="home-textiles" source="keywords">home textiles</keyword> segment is poised to continue its growth trajectory, primarily driven by robust consumer spending in the United States, which accounts for approximately 60 per cent of India's home <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword>. The market share of Indian players in the US has been steadily increasing, supported by the China+1 strategy adopted by big box retailers to diversify their supply chains. India's competitive advantage in raw material costs and increased domestic capacity will likely sustain its dominance in the US home textiles market. The Free Trade Agreement (FTA) negotiations with the UK and the European Union offer additional opportunities for growth, potentially leading to higher margins and increased market share for Indian players. While the industry is on a positive trajectory, it faces near-term challenges such as logistical disruptions due to the Red Sea crisis and uncompetitive domestic cotton prices. Moreover, as sustainability becomes a major theme in <keyword id="21977676" type="General" weightage="20" keywordseo="western-markets" source="keywords">Western markets</keyword>, <keyword id="804823" type="General" weightage="20" keywordseo="Indian-textile" source="Orion">Indian textile</keyword> companies will need to invest in compliance with these evolving norms to remain competitive. (ANI)

Indian textile exports to remain strong amid global shifts; FTA negotiations with EU to offer growth opportunities

New Delhi: Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week, with <keyword id="19951944" type="General" weightage="100" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="153" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> stealing the show, amid bullish investors' sentiment in equities. Last week, the BSE benchmark jumped 1,707.01 points or 2.10 per cent. The 30-share BSE Sensex hit its lifetime high of 83,116.19 on Thursday. Bharti Airtel's valuation jumped Rs 54,282.62 crore to Rs 9,30,490.20 crore, becoming the biggest gainer among the top-10 firms. The market capitalisation (mcap) of <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="153" meta.entityid="ICICI Bank">ICICI Bank</keyword> surged Rs 29,662.44 crore to Rs 8,80,867.09 crore. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) added Rs 23,427.12 crore taking its valuation to Rs 16,36,189.63 crore. The mcap of Hindustan Unilever soared Rs 22,438.6 crore to Rs 6,89,358.33 crore and that of <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="153" meta.entityid="HDFC Bank">HDFC Bank</keyword> zoomed Rs 22,093.99 crore to Rs 12,70,035.77 crore. The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore. The valuation of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="153" meta.entityid="Reliance Industries">Reliance Industries</keyword> jumped Rs 9,878.19 crore to Rs 19,92,160.61 crore and that of State Bank of India went up by Rs 7,095.07 crore to Rs 7,05,535.20 crore. However, the mcap of Life Insurance Corporation of India (LIC) declined by Rs 3,004.38 crore to Rs 6,54,004.76 crore. Reliance Industries was leading the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.

Mcap of nine of top-10 most valued firms jump Rs 2 lakh crore, Bharti Airtel leads the surge

<keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> benchmark indices <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> surged nearly 1% on Monday amid renewed hopes that the US <keyword id="19904332" type="General" weightage="20" keywordseo="Federal-Reserve" source="keywords">Federal Reserve</keyword> will start cutting <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> soon. Traders said <keyword id="20072947" type="General" weightage="20" keywordseo="foreign-fund-inflows" source="keywords">foreign fund inflows</keyword> and buying in frontline stocks HDFC Bank and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> also drove the markets higher. On Friday, US Federal Reserve Chair Jerome Powell said the time had come to lower the main interest rate from a two-decade high."The time has come for policy to adjust," Powell said. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." The 30-share BSE Sensex jumped 611.90 points or 0.75 % to settle at 81,698.11. During the day, it surged 738.06 points or 0.91 % to 81,824.27. The NSE Nifty soared 187.45 points or 0.76 % to 25,010.60. Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra &amp; Mahindra, Tata Steel, Larsen &amp; Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards. In Asian markets, Shanghai and Hong Kong settled in the positive territory while Seoul and Tokyo ended lower. European markets were trading mostly lower. The <keyword id="20577663" type="General" weightage="20" keywordseo="US-markets" source="keywords">US markets</keyword> ended with significant gains on Friday."The Fed chief Powell's clear message of the beginning of the rate cutting cycle will impart further resilience to the ongoing global rally in stock markets," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,944.48 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 1.08 % to USD 79.87 a barrel. Rising for the fourth straight session on Friday, the BSE benchmark ended 33.02 points or 0.04 % higher at 81,086.21. The NSE Nifty edged up 11.65 points or 0.05 % to close at 24,823.15, registering gains for the seventh session in a row. Ajit Mishra – SVP, Research, Religare Broking Ltd noted that the markets kicked off the week on a positive note, gaining over half a percent, driven by a dovish stance from the US Fed. Mirroring other global markets, the Nifty opened strong and moved closer to its record high in the early hours. However, profit-taking in select heavyweight stocks limited further gains as the day went on. Eventually, the Nifty closed at 25,010.60, up 0.8%. All major sectors contributed to the rally, with metals, realty, and IT emerging as the top performers. The broader indices also moved higher, posting gains between 0.3% and 0.7%. "We maintain our optimistic outlook given the favorable global cues and recommend a “buy on dips” strategy. While there has been some selective participation from the banking sector, a lack of decisiveness among major private banks is restraining the momentum. Traders should adjust their positions accordingly, with focus on stock selection", he said. Aditya Gaggar, director of Progressive Shares highlighted that after an initial movement, the index held its gains and oscillated in a thin range to settle at 25,010.60 with gains of 187.45 points. "On a sectoral front, Metal (+2.16%) was the top performer followed by Realty (+1.76%) and IT (+1.39%) while PSU Bank (0.50%) was the major laggard. Mid and small caps also remained rangebound and underperformed the frontline index. With a strong bullish candle, the Index has filled its bearish gap zone which indicates a strong presence of bulls. The immediate hurdle is placed at the previous high of 25,078 while the downside seems to be protected at 24,870", he said.

Sensex, Nifty surge on rally in US markets, foreign fund inflows

<ul class="summary-list"><li>A sell-off in semiconductors pulled stock indexes away from record highs.</li><li>The rout was led by Dutch chip firm ASML, which shed 17% on Tuesday.</li></ul>A drop in chipmaker shares on Tuesday hit pause on the latest rally, yanking indexes from the record highs achieved in the previous session. The tech-heavy Nasdaq dropped 1% as Tuesday's session delivered a double-whammy to the semiconductor industry.Europe's largest tech firm, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10?_gl=1*amy9ty*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTAwNzg2MS43MzIuMS4xNzI5MDIwOTMzLjYwLjAuMA..">ASML</a>, set off sector-wide gloom when it <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10?_gl=1*amy9ty*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTAwNzg2MS43MzIuMS4xNzI5MDIwOTMzLjYwLjAuMA..">posted disappointing earnings and slashed 2025 guidance</a>. Shares of the Dutch chip machine maker plunged 16%.Meanwhile, a report that the US is considering export caps on specific chip sales only added to investor concern, pulling the broader chip sector lower. <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> shed over 5%, while Broadcom dropped over 3%, and Taiwan Semiconductor Manufacturing Company stock dipped more than 2%. The rout took attention from Tuesday's bank sector performance, as Goldman Sachs, Bank of America, and Citigroup beat earnings estimates. Meanwhile, oil prices also made waves during the day, falling back as geopolitical tensions between Israel and Iran took a step back from the worst-case scenario. Though Israel plans to retaliate for a previous Iranian missile strike, it told the US it will only focus on military targets.Brent crude, the international benchmark, fell as much as 5% in intraday trading. 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>: 5,815.59, down 0.76%</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>: 42,740.42, down .76% (-324.80 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>: 18,315.59, down 1.01%</li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://www.businessinsider.com/recession-outlook-economy-layoffs-inflation-spending-job-market-tariffs-morgan-stanley-2024-10">Two things could still go wrong in the US economy and spark a recession</a>, according to Morgan Stanley.</li><li><a target="_blank" href="https://www.businessinsider.com/russia-economy-china-trade-moscow-beijing-imports-bank-transactions-payments-2024-10">Russian imports from China surged in September as Moscow deepens ties with Beijing</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stocks-vs-bonds-fed-easing-economic-data-goldman-sachs-2024-10?_gl=1*hrqcps*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTAwNzg2MS43MzIuMS4xNzI5MDE5NTkzLjU5LjAuMA..">Stocks beat bonds as risk-on returns amid Fed easing cycle</a>, Goldman Sachs says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-record-price-crypto-election-outcome-microstrategy-cryptocurrency-outlook-trump-2024-10?_gl=1*1s2rwmh*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTAwNzg2MS43MzIuMS4xNzI5MDE5NjY3LjUyLjAuMA..">Bitcoin could face 12% more upside in the weeks ahead of the US election</a>, according to Standard Chartered.</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 dropped 3.78% to $71.04 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, fell 3.52% to $74.73 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> climbed 0.62% to $2,682.1 an ounce.</li><li>The 10-year Treasury yield shed four basis points to 4.03%.</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> rose 1.30% lower to $65,825.</li></ul>

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