Indian IT services are poised for growth, fueled by a favorable US business environment and rising technology spending. Despite past immigration challenges, the sector adapted, and with anticipated tax cuts and increased investments in healthcare and banking, companies like Coforge and HCL Technologies are well-positioned to lead.
Oil prices dropped over 2% on Friday, driven by concerns about weakening demand from China and the potential for slower interest rate cuts by the U.S. Federal Reserve. China's factory output slowed, and its demand for oil decreased, while U.S. economic data was stronger than anticipated, potentially influencing the Fed's decision on rate cuts.
Gold prices were heading for their most significant weekly drop in over three years as the dollar strengthened due to expectations of less aggressive interest rate cuts by the U.S. Federal Reserve. This rise in the dollar made gold less appealing to investors holding other currencies.
The U.S. dollar was on track for its most significant weekly gain in over a month as market expectations shifted towards fewer interest rate cuts. This shift was influenced by the belief that President-elect Donald Trump's policies could fuel inflation, giving the Federal Reserve less leeway to reduce rates.
European shares fell on Friday, dragged down by disappointing earnings, concerns about the impact of U.S. President-elect Donald Trump's policies, and a jump in Treasury yields. Investors were also concerned about U.S.-China relations and the impact of Trump's pick to lead the Department of Health and Human Services.
Global stocks were on track for their biggest weekly decline in two months as investors adjusted to the possibility of a slower pace of interest-rate cuts by the Federal Reserve. Stronger-than-expected economic data and hawkish comments from Fed officials, including Chair Jerome Powell, contributed to the market's recalibration.
Wall Street's major indexes experienced their most significant single-day decline in two weeks, driven by concerns over a potential slowdown in interest rate cuts and reactions to President-elect Donald Trump's cabinet appointments.
Netflix is facing a major outage in the US. Thousands of users are unable to access the streaming service. The outage is affecting users from various regions. The issue was at its peak with nearly 14,000 reports. Users are facing problems with video streaming, server connection and login. Netflix is yet to release a statement.
Donald Trump selected Steven Cheung and Sergio Gor for key roles. Cheung became White House communications director. Gor took charge of the personnel office. Both had supported Trump's 2016 campaign. Cheung was known for his strong approach in dealing with Trump's rivals. Gor collaborated with Donald Trump Jr. on a publishing venture. He also headed a political group backing Trump.
