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<ul><li>Tech brands have fared badly in 2023 due to global headwinds, recession threats and more.</li><li>Banking and financial services companies including fintechs saw their value swell during the year.</li><li>PhonePe and Cred were the new entrants into Kantar’s list of Top 75 Indian brands.</li><li>Auto companies made a comeback from Covid-lows with TVS and Mahindra being among the fastest risers. </li></ul>It is not just the share prices of technology services companies that are falling, even their brand value has taken a beating. India’s top brands have borne the brunt of the global economic downturn in 2023. The combined value of Kantar BrandZ’s top-75 Indian brands shed 4% of their value to $379 billion in 2023. Yet, they have fared better than their global counterparts, as its global list has shed 20% of its value. Most of this loss in brand value was seen in Indian tech brands whose value shrunk by 14%. The brands have a major presence in international markets, and have been impacted by global pressures, recession threats and geopolitical instability, says Kantar. “If you exclude tech, the combined brand value is quite stable,” said Soumya Mohanty, managing director and chief client officer, South Asia, Insights Division of Kantar. TCS on the top, as usual The spot of India’s most valuable brand, however, is retained by tech giant TCS. It has shed 6% of its value but has fared better than tech as a sector. “TCS has a strong corporate reputation which makes it more likely to retain clients and business. It can also help enable customer retention which is also a factor that adds to brand value,” Deepender Rana, executive managing director of South Asia Insights Division at Kantar told Business Insider India. Infosys’ brand value dropped by 17%, while HCL Tech’s brand value rose by 3%. Both these brands made it to the top 10. Wipro’s brand value dropped by a sharp 42%. The rest of the list is dominated by banks, telecom companies with only one consumer company, Asian Paints in the top 10. Kantar BrandZ Top 10 Most Valuable Indian Brands 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand Value 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$42.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$33.6 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.1 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$22.5 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.8 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11.7 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.3 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$9.3 bn </td></tr></tbody></table> Source: Kantar Autos zoom ahead Auto brands have been buzzing in 2023 and the sector has provided two of the fastest risers of the year. TVS, valued at $1.9 billion, occupies the 51st rank. The company has gained 59% in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra is valued at $2.01 billion and occupies the 47th rank. Mahindra, which grew its value by 48%, made itself incredibly meaningful in consumers’ eyes, and also significantly boosted its salience. The sector saw the second highest category growth of 19%, after tobacco. Royal Enfield’s value also swelled, thanks to Indians’ preference for premium products. A lot of Indian auto brands, like Tata Motors, also entered EV markets and are able to meet consumer needs better, observes Rana. “Auto companies’ value declined during Covid and made a comeback after they dealt with supply chain issues and dealt with bottlenecks,” said Mohanty. India’s largest auto company Maruti Suzuki, however, shed 5% of its brand value, while Bajaj Auto’s brand value went up by 9%. The value in finance Financial services brands have grown their brand value by 6% with 16 brands and contributing to the biggest chunk of the total brand value. Their growth is attributed to growth in digital banking and Axis Bank whose value swelled 28% and now ranks at 17. ICICI Bank which ranks at no 6 also has seen its brand value swell by 18%. Two of this year’s new entrants also belong to the fintech sector — PhonePe and Cred. This is in spite of the fact that tech as a sector saw its value go down during the year. PhonePe has made its debut on the list at No.21 with a value of $4.4 billion. It has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points, said Kantar. Meanwhile, Cred has entered at no 48 with a brand value of $2 billion. “Growth of credit and other digital trends are adding to the value of fintechs. There is a need for these services and brands are doing a good job of providing them,” Mohanty tells Business Insider India. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo and Nykaa have shed value; while Byju’s hasn’t been included in the list this year. FMCG as a sector has seen its brand value remain stable during the year.

TCS retains No 1 spot as India’s top brand but tech sector takes a hit

<ul><li>Amid news of sub-par <keyword id="65655" type="General" weightage="20" keywordseo="placements" source="Orion">placements</keyword> even at top-tier engineering colleges, students are worrying about their future</li><li>Experts advise preparing for the worst and acquiring additional skills through industry-certified courses </li><li>Continually update your profiles on job boards and expand your network on platforms such as LinkedIn</li></ul>Last week news began trending that claimed more than 30% of IIT Bombay students could not get placements. Later, the institution displaced these concerns and revealed that only 6.1% of eligible students are actively seeking employment. However, the fact remains that fresher <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> this year has taken a hit across almost all colleges across the country. “Direct fresher hiring from colleges has significantly decreased, owing to the general sluggishness in the economy,” says Karthikeyan Kesavan (Director &amp; head of perm Placement) Adecco India, a workforce solutions provider. The dip in fresher hiring may seem more pronounced in the IT sector, which traditionally hires the majority of new engineering entrants to the workforce. Typically, the IT sector absorbs 20-25% of the 1.5 million engineering graduates in India annually. “Companies have had to cut back on freshers' hiring due to a weak deal pipeline, recessionary fears in the US, and the need to utilise existing resources effectively,” says Krishna Vij, Business Head, TeamLease Digital, a job portal for tech freshers. According to NLB Services, a talent solutions company, the <keyword id="6374576" type="General" weightage="100" keywordseo="it-industry" source="Orion">IT industry</keyword> has seen a dip in the <keyword id="6441485" type="General" weightage="20" keywordseo="freshers-hiring" source="Orion">freshers hiring</keyword> intent from 49% in H1 2023 to 42% in H1 2024. What should you do? Uncertain economic conditions come in cycles and if you are a fresher it is just a coincidence that you trying to find your first job in the middle of one. Nothing to do with how good your skills are. But, to navigate such challenging times better, there are things you can do that increase your chances of getting hired. Acquire relevant skills through certifications In the 21st century, having a degree may not be enough. You need skills that are relevant to the job you are applying for, and proof that you have them. In addition to your regular degree, acquire one or two skills preferably through certification. There are many industry-certified courses available both online and offline. Before you enrol on any such courses, talk to your seniors or those already in a job to find out which are the skills in demand. It is essential to stay proactive and not give up. “Developing a combination of technical competencies and soft skills is crucial, alongside participation in hackathons and collaborative projects to showcase practical abilities,” says Vij. Update your profile and network Getting a job off-campus is a time-consuming process. It involves a lot of preparation and results may not be immediate. The first step is to let potential employers know that you are available for hire. “Continually update your profiles on job boards and expand your network on platforms such as LinkedIn, particularly with regards to target companies. Increase engagement and enhance visibility within the talent acquisition community,” says Kesavan. Seek out a mentor In difficult situations, sound advice always comes in handy. “Connecting with industry peers, experts and mentors can make a huge impact on one’s professional journey,” says Sachin Alug, CEO, NLB Services. Freshers must find appropriate networks that play a vital role in their learning, scope of opportunities and creating a sustainable career. From your college professor to your neighbour to your senior, you may find a good mentor if you continuously seek genuine help. Take up a part-time job If you are not getting a job consider taking up part-time gigs which are related to your field of work. Working part-time to utilise one’s time in a productive way can be a good idea for many candidates. “This not only empowers them financially but also allows them time to prepare for their full-time professions. While aspirants may choose part-time <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> as a temporary occupation, the focus must not shift from enhancing one’s skills in the direction they want to excel in,” says Alug. Finally, it is important that one maintains a positive attitude, resilience, and adaptability throughout the job search process.

Fresher hiring sees a significant decline, particularly in IT sector! What should you do?

<ul><li>The <keyword id="1140805" type="COMPANY" weightage="20" keywordseo="Regional-Comprehensive-Economic-Partnership">Regional Comprehensive Economic Partnership</keyword> (RCEP) is a trade pact between 16 countries.</li><li>Negotiations that lasted for seven years have concluded and India has decided to opt out of the pact.</li><li>Indian industry fears that it will be outrun by foreign competition because of RCEP.</li></ul> India has decided not to sign the Regional Comprehensive Economic Partnership (RCEP) after negotiations that lasted for seven years. The free-trade agreement was being negotiated between Australia, China, India, Japan, New Zealand and Korea on one side and the 10 South East Asian countries⁠— Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Myanmar, Brunei, Cambodia, Laos⁠— on the other. The idea behind RCEP is to make trade easier and tariffs lower for exporters from these countries. However, Indian companies are afraid that this agreement will give foreign players a free ride in the Indian market and put homegrown companies at a disadvantage. But that is all free trade is all about⁠—- increased competition, better deal for consumers, and weeding out the inefficient. But policies can’t entirely stand on ideology. It has to account for ground realities. The five sectors in India that would have taken most of the hit from increased competition due to RCEP are textiles, dairy, steel, automobiles, and agricultural products. Out of these five textiles and steel have already lost a lot of export competitiveness in recent years. Car makers have been crushed under collapsing demand at home⁠— sales have been declining for months together. The entry of foreign companies would have further squeezed the space. Dairy has been a big point of contention. India is the world’s biggest consumer of milk and milk products and many Indian political outfits⁠— even those close to the government⁠— have sought to keep dairy out of the RCEP. 
 
 
 
 
 
 
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 All these are sectors that employ a lot of people and if Indian companies fail to match foreign competition it may lead to large scale unemployment, which is already very high. “Indian industry will have more to lose than gain if it agrees to a liberal tariff elimination schedule especially with respect to China.A separate tariff schedule for different partner countries has already been rejected by member countries," an earlier Niti Aayog report said. 
 
 
 
 
 
 
 
 
 
 
 
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 "At a time of growing protectionism and US’s stance towards China opening our market to China can be prove to be disastrous given proper standards and processes are not in place in India. Trade agreements are a means to promote bilateral trade, with both parties benefiting as a result of trade complementarities. With China, India’s trade seem to be very skewed and China’s capacity overhang in most sectors may lead to a surge of imports into India with very limited access for Indian exports into the chinese market,” the report added. SEE ALSO: <a href="https://www.businessinsider.in/education/news/indian-medical-students-will-now-have-to-learn-mandarin-to-study-in-china/articleshow/71498284.cms" data-type="tilCustomLink" target="_blank">Indian medical students will now have to learn Mandarin to study in China</a> <a href="https://www.businessinsider.in/international/news/the-five-points-that-xi-jinping-and-narendra-modi-could-discuss-at-mamallapuram/articleshow/71540430.cms" data-type="tilCustomLink" target="_blank">Xi Jinping arrives in India — here's a look at 5 contentious issues between India and China</a>

Here's why India decided to stay out of RCEP— a free trade agreement

<ul class="summary-list"><li>Stock market highs are expected to continue into 2025, according to Oppenheimer's Ari Wald.</li><li>In a note, Wald highlighted strong market breadth and healthy signs across various sectors.</li></ul>Record highs in the stock market are set to continue, as few signals suggest a top in equity prices is near.That's according to Oppenheimer managing director and technical analyst Ari Wald, who said in a note over the weekend that there are bullish "inflection points" in the underlying market."We continue to balance seasonal headwinds against our view that evidence of a major top is not compelling," Wald said.Wald said he is encouraged by the fact that the number of stocks on the New York Stock Exchange above their 200-day moving average is above 60%, which is a healthy sign for a market advance, as it shows that it's not just a handful of mega-cap tech companies driving the gains.<div type="image" title="A chart of the S&amp;P 500" height="502" width="894" msid="113605545" hostid="261" sizebytes="40934"></div>"We stress that market breadth remains constructive, and defensive leadership may represent a 'catch-up' into previous underperformers," Wald said.Wald said that based on the chart, traders can buy last week's breakout to new cycle highs in the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, with a stop-loss set at the 5,650 level on a closing basis.A stop-loss is a risk management tool used by traders to automatically sell a security when a certain price is hit.For the S&amp;P 500, the 5,650 level represents potential downside of just 1%, while Wald's upside price target of 6,000 in the first half of 2025 represents potential upside of 5%.Wald's 6,000 price target for the S&amp;P 500 is based on the median bull market cycle."The S&amp;P 500 is up 64% over the 23 months between October 2022 and September 2024. Since 1932, the median bull cycle has gained 73% over a 32-month period," Wald said.Meanwhile, the average bull market cycle gain is 102% over a 34-month period.And if the current bull market follows the path of the average bull market, stocks could continue to rise through the end of 2025 with the S&amp;P 500 rising to around the 7,000 level.That 7,000 target aligns with <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-price-target-bullish-high-6000-yearend-bubble-2024-6">a bullish prediction from Evercore ISI,</a> which said in June that the AI craze could push stocks higher in 2025.Beneath the surface of the broad market, Wald said he is encouraged by the "right" leadership making new highs, including the Industrials sector."We view the cycle high for Industrials as confirmation of an intact bull market," Wall said.Record highs in the financials sector is another positive sign for the broader stock market, while the technology sector could be gearing up for its next big move higher, according to Wald."Technology is coming off an all-time high on both an absolute and relative basis in July. While the sector's relative trend has moderated, we still believe Technology represents one of the strongest long-term structures in the market," Wald said.Finally, Wald highlighted the healthcare sector as another area of the market that is showing resilience, even as it lags other sectors.While the healthcare sector is breaking out to new all-time highs, on a relative basis it is falling to new multi-year lows compared to the S&amp;P 500."We think the divergence between Health Care's absolute and relative trend speaks to the broadness of market breadth — even lagging sectors are rallying," Wald said.Similar scenarios are playing out in the communication services and materials sectors, according to the note.

Why stocks have a lot more room to rally before hitting a peak, according to a technical analyst

<ul class="summary-list"><li>The S&amp;P 500 extended its winning streak to eight days, rising nearly 1% on Monday.</li><li>Broad-based gains across sectors and strong economic data have driven recent market performance.</li></ul>The <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> extended its winning streak to eight days on Monday.The benchmark index was up nearly 1% on Monday, and is up nearly 8% since its winning streak began on August 8.Monday's gains were broad based across sectors, with communication services and consumer discretionary stocks leading the way, followed by technology and basic materials.Shares of Nvidia surged more than 3% on Monday, helped out by <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-earnings-stock-prediction-q2-ai-blackwell-chips-demand-wedbush-2024-8">a bullish note from Wedbush regarding the future of AI tech spending.</a>The stock market gains over the past week-and-a-half have come amid better-than-expected economic data and earnings results, highlighted by July's retail sales data and Walmart's second-quarter earnings results, both released last week.Now investors will <a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cute-powell-jackson-hole-signal-us-economy-2024-8">turn their attention to the Federal Reserve's annual meeting</a> in Jackson Hole, Wyoming, with Fed Chair Jerome Powell to give a speech on Friday.While the Fed will not make an interest-rate decision this week, the meeting serves as a chance for Powell to prepare markets for a September interest-rate cut."The key is whether Fed Chair Powell is dovish. We expect this to be the case for two simple reasons: first, inflation is tracking better than consensus expected," Fundstrat's Tom Lee said in a note on Monday. "Second, labor market is softening as unemployment is rising. Why would the Fed be hawkish."Aside from the Fed, investors will pay attention to second-quarter earnings results from retailers later this week, including <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/low-stock">Lowe's</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tjx-stock">TJX Cos.</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tgt-stock">Target</a>, as well as <a target="_blank" class="" href="https://www.businessinsider.com/democratic-national-convention-preview-harris-gaza-war-protests-election-2024-8">commentary from the Democratic National Convention</a>.On Monday, Kamala Harris' campaign said the Vice President supports raising the corporate tax rate to 28% from 21%.Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,608.25, up 0.97% </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>: 40,896.53, up 0.58% (+236.77 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,876.77, up 1.39%</li></ul>Here's what else is going on today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/wealth-billionaires-musk-bezos-zuckerberg-net-worth-jensen-huang-waltoans-2024-8">Meet the 15 members of the $100 billion club, who are jointly worth more than Alphabet.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/us-recession-outlook-earnings-results-slowdown-fears-overblown-economy-consumer-2024-8">Goldman Sachs lowered the odds of a recession to 20% thanks to an ever-resilient US consumer.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/mormon-church-stock-portfolio-top-10-holdings-new-ai-stock-2024-8">These are the top 10 holdings of the Mormon church's $55 billion stock portfolio, which include a new AI stock.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-record-highs-soon-but-bail-mid-september-2024-8">The US stock market will hit fresh record highs over the next four weeks, but expect selling pressure to begin on September 16, according to Goldman Sachs.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-investing-impact-legal-sport-betting-gambling-study-2024-8">The rise of legal sports gambling is coming at the expense of stock investing, a new study found.</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 decreased 2.45% to $73.69 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, dropped 2.51% to $77.68 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.20% to $2,542.80 an ounce.</li><li>The 10-year Treasury yield was down 2 basis points at 3.87%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 0.84% to $58,931.</li></ul>

Stock market today: S&P 500 hits 8-day win streak as investors focus on Fed conference

<a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hi! Did you go a bit overboard with candy yesterday? Don't sweat it. Here's some guidance on <a href="https://www.insider.com/guides/health/diet-nutrition/sugar-detox">how to undergo a sugar detox</a>.In today's big story, we're looking at a Wall Street giant jumping into one of the <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10">hottest sectors in finance</a>.What's on deck: <ul><li>Markets: The Fed isn't likely to cut interest rates today, but there's <a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10">still good news for consumers</a>. </li><li>Tech: Meet the jobs proving to be the <a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11">most resilient to an AI takeover</a>.</li><li>Business: A utopian residential cruise ship made <a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10">big promises it has yet to deliver on</a>.</li></ul>But first, do you need some money?<h3>The big story</h3><h2>Everybody's a lender</h2><a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><div type="image" title="Illustration of BlackRock's CEO with images of money" height="1440" width="1920" msid="104894485" hostid="261" sizebytes="386366"></div>When you hear <a href="https://www.businessinsider.com/blackrock-news-updates">BlackRock</a>, what's the first thing that pops into your head? <a href="https://www.businessinsider.com/blackrock-esg-backlash-larry-fink-succession-2023-7">Larry Fink</a>? <a href="https://www.businessinsider.com/blackrock-spot-bitcoin-etf-crypto-reactions-2023-6">ETFs</a>? <a href="https://www.businessinsider.com/blackrock-esg-municipal-bond-etf-delay-2023-8">ESG</a>? <a href="https://www.businessinsider.com/blackrock-aladdin-tech-performance-competition-2023-1">Aladdin</a> (not the movie)? <a href="https://www.businessinsider.com/blackrock-social-media-tiktok-2022-5">Conspiracy theories</a>?The world's largest asset manager wears many hats. Now it's trying to add another to its $9.1 trillion wardrobe: lender.BlackRock is the latest player <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10">pushing into the red-hot private credit market</a>, writes Insider's Rebecca Ungarino.The business of lending directly to companies has become the <a href="https://www.businessinsider.com/private-debt-credit-market-risks-outlook-2023-2022-11">topic du jour on Wall Street</a>. Sky-high interest rates and stricter lending requirements from big banks created an opportunity for investment firms. These so-called shadow banks can offer borrowers alternative forms of financing, albeit with some hefty interest payments. But BlackRock's private-credit ambitions have put the massive firm in uncharted waters, Rebecca writes, as it's <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10" target="_blank" rel="noopener">a small fish in a big pond</a>. The firm's $81 billion private credit business is only a drop in the industry's $1.75 trillion bucket. It's also well behind larger players like <a href="https://www.businessinsider.com/private-credit-power-players-debt-executives-blackstone-kkr-ares-2022">Apollo, Blackstone, and KKR</a>.<a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><div type="image" title="BlackRock's Larry Fink" height="1440" width="1920" msid="104894487" hostid="261" sizebytes="65764"></div>BlackRock's private credit plans also add further validity to an industry on the rise. One executive in the space told Rebecca that BlackRock's entrance is a "stamp of approval" for the market. And while everyone seems to want in on the action — private credit was the <a href="https://www.businessinsider.com/private-credit-toast-of-the-town-greenwich-economic-forum-2023-10">talk of the Greenwich Economic Forum</a> last month — it's unclear how that'll ultimately impact the industry. Lending is a complicated enough business on its own. Adding more competitors in a high-rate environment, without the shackles that regulate traditional banks, feels like a recipe for disaster.Maybe I'm paranoid, but Wall Street's history of investing in floating-rate debt structures shrouded in mystery isn't pristine. BlackRock's cohead of US private capital said during a recent earnings call the firm was passing on more lending opportunities, citing deal terms without adequate lender protections. But as more inexperienced players dive into the space, the probability of someone willing to lend to a borrower in need, regardless of the red flags, will rise.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10"></a><div type="image" title="Fed chair Jerome Powell" height="1280" width="1706" msid="104894489" hostid="261" sizebytes="88792"></div><ol><li>The Fed probably won't cut rates, but that's not a bad thing. The Federal Reserve makes its second-to-last interest rate decision of the year today. All signs are pointing to another pause in hikes, but officials remain <a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10">confident they can skirt a recession</a>. </li><li>Charlie Munger isn't a fan of VCs. Warren Buffett's business partner had some strong words for the venture community, saying VCs are "<a href="https://markets.businessinsider.com/news/stocks/charlie-munger-acquired-podcast-vc-venture-capital-berkshire-warren-buffett-2023-10">not great investors or great at anything</a>." The VC industry in the US also doesn't do a good job of supporting founders of early-stage companies, he said on a recent podcast. </li><li>A CEO walks into a bar… Executives who crack jokes during earnings calls <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-ceo-joking-earnings-calls-elon-musk-tesla-2023-10">gave their company's share price an immediate boost</a>, according to a research paper. Humor can even help if it's not all good news, as jokes "can soften the disclosure of negative news and signal relatively stronger future firm performance," according to the paper. </li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11"></a><div type="image" title="Illustration showing workers holding a plunger, needle, and scissors" height="960" width="1920" msid="104894492" hostid="261" sizebytes="227234"></div><ol><li> The AI-proof jobs. Blue-collar jobs like nurses, construction workers, and barbers will be the big winners of the AI revolution. While ChatGPT replaces the rest of us, <a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11">these careers should see a substantial boom</a>.</li><li>A leaked email provides clues regarding the UNest CEO's abrupt resignation. Ksenia Yudina, the founder and former CEO of UNest, accused three board members of voting for a <a href="https://www.businessinsider.com/the-ceo-of-unest-resigned-after-she-said-the-board">hostile takeover of UNest</a> that was '"illegal and unethical," according to an email she sent to investors and board members obtained by Insider. UNest's COO, meanwhile, said customers of the startup, which helps families save for college, have no reason to worry about their money.</li><li>The real risk of AI. Meta's chief AI scientist said some tech executives' warnings about the dangers of AI are their way of trying to <a href="https://www.businessinsider.com/sam-altman-and-demis-hassabis-just-want-to-control-ai-2023-10">control the future of AI</a>. Similarly, a Google Brain cofounder said Big Tech companies are lying about AI risks to <a href="https://www.businessinsider.com/andrew-ng-google-brain-big-tech-ai-risks-2023-10">shut down competition</a>.</li></ol><h2>3 things in business</h2><a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10"></a><div type="image" title="Graphic of a ship in a toilet" height="960" width="1920" msid="104894494" hostid="261" sizebytes="171244"></div><ol><li> Choppy waters for a startup cruise ship pitching itself as a utopian community. Storylines' MV Narrative offers customers an "anti-aging global lifestyle" aboard a $900 million, 18-deck ship traveling to six continents over 1,000 days. But the ship's launch has been delayed seven years from when it was initially slated to hit the seas, and former employees, consultants, and investors <a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10">doubt it will even be built</a>. </li><li> Move fast and blow up your startup. A minor update to ChatGPT enabling users to upload and analyze PDFs has massive implications for startups designed to do precisely that. It's the latest example of how Big Tech can <a href="https://www.businessinsider.com/openai-chatgpt-pdfs-ai-startups-wrappers-2023-10">wreak havoc on smaller players overnight</a>.</li><li>Gen Z's best bet for curing loneliness might be returning to the office. Young people have been <a href="https://www.businessinsider.com/cure-for-gen-z-loneliness-heading-returning-to-office-2023-10">hit particularly hard by the solitude of remote work</a>. Gen Z workers told Insider how remote work increased anxiety, lowered morale, and curtailed opportunities for career advancement.</li></ol><h2>In other news</h2><ul><li><a href="https://www.businessinsider.com/israel-airstrike-gaza-refugee-camp-hamas-civilians-2023-10">Israel defends devastating refugee camp strikes, saying civilians caught up in hunt for a Hamas commander are a 'tragedy of war'</a></li><li><a href="https://www.businessinsider.com/elon-musk-x-twitter-employee-stock-ipo-acquisition-rsus-2023-10">Internal documents reveal new details of X stock awards to staff, including what happens if the company IPOs or is acquired</a></li><li><a href="https://www.insider.com/robert-de-niro-trial-testimony-call-assistant-grandmother-funeral-2023-10">Robert De Niro testifies it was fine to call his assistant at her grandmother's funeral: 'I don't know if they were putting the body in the ground'</a></li><li><a href="https://www.businessinsider.com/sam-bankman-fried-trial-testimony-defense-fundamental-flaw-2023-10">Sam Bankman-Fried can't get past the fundamental flaw in his defense strategy</a></li><li><a href="https://www.businessinsider.com/white-house-advisor-catching-up-on-ai-biden-executive-order-2023-10">Q&amp;A: White House AI advisor says US is 'catching up' to the tech</a></li><li><a href="https://www.businessinsider.com/mcdonalds-price-loses-lower-income-customers-inflation-pressure-2023-10" target="_blank" rel="noopener">McDonald's isn't cheap anymore</a></li><li><a href="https://www.businessinsider.com/walmart-spark-gig-delivery-workers-cant-bring-groceries-your-kitchen-2023-10">Walmart Spark delivery drivers are sick of customers asking them to bring deliveries into their homes</a> </li><li><a href="https://www.businessinsider.com/tesla-competition-detroit-falls-flat-2023-10">Tesla's competition in Detroit can't keep up – the EV company keeps winning</a></li><li><a href="https://markets.businessinsider.com/news/stocks/housing-market-affordability-index-chart-mortgage-rates-home-prices-inventory-2023-10">CHART OF THE DAY: Housing market affordability plunges to lowest level since 1985</a></li></ul><h2>What's happening today</h2><ul><li>The Fed's decision on interest rates. The Federal Open Market Committee decided to pause rate hikes during its last meeting in September. </li><li>Keeping you on your toes: Happy World Ballet Day! Some of the world's top ballet companies will stream from their rehearsal studios.</li><li>Earnings today: Airbnb, DoorDash, and<a href="https://markets.businessinsider.com/earnings-calendar?utm_medium=newsletter&amp;utm_source=Sailthru&amp;utm_campaign=Insider_Today"> other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>What happens in Vegas</h2><a href="https://www.insider.com/las-vegas-tips-for-booking-hotels-resorts-from-repeat-visitor-2023-10"></a><div type="image" title="Las Vegas" height="1279" width="1708" msid="104894495" hostid="261" sizebytes="196080"></div>How to get the perfect hotel at the best price in Las Vegas. Wendy Lee has been to Sin City over 50 times, and shares <a href="https://www.insider.com/las-vegas-tips-for-booking-hotels-resorts-from-repeat-visitor-2023-10">eight tips to follow ahead of your next trip</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

BlackRock is jumping into one of the hottest sectors on Wall Street

<ul class="summary-list"><li>Recession risk in the US is rising, says economist David Rosenberg of Rosenberg Research.</li><li>Rosenberg's analysis shows 45% of recession indicators have been triggered, up from 10% in 2022.</li></ul>The probability of a recession hitting the US economy is rising after a flurry of signals have flashed in recent weeks and months.That's according to economist David Rosenberg of Rosenberg Research, who compiled a list of recessionary indicators in a note on Friday."What is the best recession indicator? That's a hard question to answer — why not dodge it completely and just look at all of them?" Rosenberg asked.Rosenberg's compilation of 20 recessionary indicators comes as the US economy continues its resilient run, defying recession callers.Second-quarter <a target="_blank" class="" href="https://www.businessinsider.com/category/gdp">GDP growth</a> was revised higher-than-expected to 3.0% from the 2.8% expected on Thursday, retail spending data is still solid, and consumers could soon get another breath of life <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-wall-street-how-much-jackson-hole-fed-2024-8">when the Federal Reserve cuts interest rates,</a> which is expected to happen in September.But according to Rosenberg, some worrying signals have historically only flashed on the precipice of an economic downturn."The 'indicator of indicators' indicates recession," Rosenberg said.Of the 20 recession indicators compiled by Rosenberg, nine have been triggered.<div type="image" title="A chart of recession indicators flashing" height="569" width="991" msid="112952172" hostid="261" sizebytes="39428"></div>Some of the recession signals that have flashed include <a target="_blank" class="" href="https://www.businessinsider.com/sahm-rule-recession-outlook-indicator-triggered-unemployment-rate-jobs-report-2024-8">the Sahm Rule,</a> the Leading Economic Indicator Index, and <a target="_blank" class="" href="https://www.businessinsider.com/recession-outlook-yield-curve-inversion-economy-hard-landing-indicator-stocks-2024-4">the inverted yield curve,</a> among others.Many of the recessionary indicators that have not yet flashed are found in the manufacturing and transportation sectors, which remain solid."Currently, 45% of the recession indicators we tracked have been triggered. Going back to 1999, that's never happened without a recession occurring," Rosenberg said.The list of signals flahsing has steadily risen since 2022, when only 10% were triggered. That rose to about 25% in 2023 and the first half of 2024.But since then, the recession warnings have been growing."Sometimes more is more, and this is a case in point. Looking at recession thresholds across different sectors of the economy makes it clear that something has been changing since mid-2024 — the long-anticipated slowdown may finally be arriving," Rosenberg said.To prepare for a potential economic downturn, Rosenberg recommended clients diversify their portfolios in "recession-proof" assets like Treasurys and gold and tilt them to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-defense-warning-diluted-by-ai-powered-utility-rally-2024-8">defensive equities like utilities and consumer staples.</a>Below is a list of the 20 recession indicators compiled by Rosenberg Research.<div type="image" title="A list of 20 recessionary indicators" height="744" width="932" msid="112952165" hostid="261" sizebytes="49004"></div>

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