Dow hits hits all-time high after steady US retail sales data
The Dow climbed 135 points, or 0.3 per cent, supported by a 10 per cent rise in UnitedHealth shares after filings showed Warren Buffett's Berkshire Hathaway and Michael Burry's Scion Asset Management bought stock in the company during the second quarter. The Dow briefly surpassed the previous peak of 45,073.63 touched on December 4. The S&P 500 slipped 0.2 per cent, while the Nasdaq Composite fell 0.3 per cent.
Figures released on Friday showed US retail sales rose 0.5 per cent in July, meeting the Dow Jones forecast. Sales excluding cars rose 0.3 per cent, also matching estimates.
For the week, the Dow gained 2 per cent, while the S&P 500 and Nasdaq each rose more than 1 per cent, supported earlier by inflation data that increased expectations the Federal Reserve could cut interest rates next month.
Those expectations were tempered on Thursday after wholesale inflation came in higher than expected. 'I don't think that one data point is enough to change a thesis around the trajectory of inflation,' Tom Lee, head of research at Fundstrat Global Advisors, told CNBC. 'Our base case remains that this is going to ultimately be viewed as transitory by the market.'
In corporate news, Intel gained 3 per cent after Bloomberg reported that the administration of US President Donald Trump is discussing taking a government stake in the company.
Semiconductor stocks were weaker after Applied Materials gave lower-than-expected forecasts for earnings and revenue, citing an expected drop in China sales. The VanEck Semiconductor ETF fell 2 per cent.
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Time of India
38 minutes ago
- Time of India
Boost for beekeepers: Haryana CM Nayab Saini announces inclusion of honey in Bhavantar Bharpai Yojana
KURUKSHETRA: In an important step for the welfare of farmers and beekeepers, Haryana chief minister Nayab Singh Saini on Saturday announced that honey will now be brought under the Bhavantar Bharpai Yojana (BBY), on the lines of horticulture crops. The move aims to ensure fair prices for honey producers while promoting scientific beekeeping as a profitable venture across the state. Addressing a state-level workshop on beekeeping at Ramnagar in Kurukshetra, CM Saini also declared that a honey sales and storage facility will soon be established at the Integrated Beekeeping Development Centre (IBDC), Ramnagar, with arrangements for quality testing. To further support this initiative, the government will set up a Quality Control Laboratory at a cost of Rs 20 crore. The Ramnagar institute, developed in collaboration with Israel, will be elevated to the status of a national-level centre for advanced and scientific research in apiculture, the CM said. Highlighting the role of beekeeping in strengthening rural incomes, CM Saini said, 'Beekeeping not only provides farmers with an additional source of earnings but also boosts crop yields through pollination. Haryana is committed to realizing Prime Minister Narendra Modi's call for a 'Sweet Revolution'.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The CM informed that under the Beekeeping Policy-2021, the state has set a target of preparing 7,750 beekeepers and producing 15,500 metric tonnes of honey by 2030. Currently, the Ramnagar centre provides training and has already distributed 74,000 bee boxes and 3.43 lakh comb sheets. Facilities for honey processing and bottling are also available. Farmers are being offered up to 85% subsidy on bee boxes, colonies, and equipment, he said. Underscoring the importance of diversification, Saini said horticulture and allied activities like dairy, fisheries, and beekeeping are becoming pillars of rural prosperity. 'In 2014, horticulture in Haryana was spread over 1.17 lakh acres, which has now expanded to 2.60 lakh acres. With FPOs, excellence centres, procurement schemes, and now BBY, farmers are becoming stronger,' he added. Encouraging youth and women entrepreneurs, the CM urged them to launch their own honey brands and explore global markets through online platforms. 'Beekeeping requires minimal land and can be an ideal startup opportunity. The government will extend full financial and technical support,' he assured. Supporting the initiative, Haryana Agriculture and Farmers' Welfare minister Shyam Singh Rana emphasized that enhancing farmers' income is the government's top priority. He said that sectors like dairy, animal husbandry, fisheries, and beekeeping are being promoted alongside crops to build a stronger rural economy. The workshop was attended by former minister Subhash Sudha, senior officials, agricultural experts, and representatives of beekeepers' associations. As per the data available on the website of Agricultural and Processed Food Products Export Development Authority under Union Ministry of Commerce and Industry, about 500 flowering plant species, both wild and cultivated, are useful as major or minor sources of nectar and pollen. As per Union Ministry of Agriculture and Farmers' Welfare-2023, India's total production of honey was 142 thousand metric tonne (MT). In India, the area under production of natural honey includesUttar Pradesh (17%), West Bengal (16%), Punjab (14%), Bihar (12%) and Rajasthan (9%). These states amount to the top five natural honey producers. The country has exported 107963.21 MT Natural Honey worth USD 177.52 million to the world during the financial year 2023-24, with major export destinations including USA, UAE, Saudi Arabia, Qatar and Libya, as per DGCI&S data. As per an article 'Beekeeping: Opportunities and Challenges in Haryana' published in August 2024 by Biological Forum journal and written by experts of Chaudhary Charan Singh Haryana Agricultural University, Hisar, 'Beekeeping in Haryana offers significant potential due to the state's favorable climate, diverse flora, and agriculture-based economy, which enhances crop yield through pollination, and provides opportunities for income diversification. The varied cropping patterns, affected by different soil types, irrigation facilities, temperature, relative humidity, and agro-climatic conditions, make Haryana suitable for beekeeping, particularly with Apis mellifera . Haryana is among the top seven honey producing states (in India), yielding approximately 4,500 metric tons annually, with over 5,000 active beekeepers.' Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Time of India
2 hours ago
- Time of India
Sagittarius, Weekly Horoscope, August 17 to August 23, 2025: Romance strengthens through heartfelt connections
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Time of India
3 hours ago
- Time of India
US stock market prediction: Will Nasdaq, S&P 500, Dow Jones slip or rise on Monday? Check lucrative stocks
US Stock Market indexes -- Dow Jones, S&P 500, and Nasdaq -- will look to maintain its positive run at the Wall Street. However, investors will keep close eyes on the Federal Reserve and Fed Chair Jerome Powell to check whether there will be interest rate cut or not. U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week. The S&P 500 slipped 0.3 per cent from the all-time high it set the day before, as it closed its fourth winning week in the last five. The Dow Jones Industrial Average flirted with its own record, which was set in December, before ending just below the mark with a rise of 34 points, or 0.1 per cent. The Nasdaq composite dipped 0.4 per cent, though it's still near its record set on Wednesday. The U.S. stock market reached all-time highs this past week as expectations built that the Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation. US Stock Market Outlook Companies likely to benefit most from lower borrowing costs have been among the big winners in recent Wall Street trading, said Andrew Slimmon, head of Applied Equity Advisors at Morgan Stanley Asset Management. Shares of leading homebuilders such as PulteGroup, Lennar, and D.R. Horton are up between 4.2 per cent and 8.8 per cent in the last week, as of midday Friday, thanks largely to the recent drop in mortgage lending rates. Live Events Their gains trounced the 1 per cent rally in the Standard & Poor's 500 index over the last week. The group has outpaced the broader market more dramatically over the last month, with gains of 15 per cent to 22 per cent compared to 3.3 per cent for the S&P 500. But their future gains hinge on mortgage rates continuing to fall, something that a recent uptick in 10-year Treasury bond yields puts into question. FAQs Q1. What are US Stock Market indexes? A1. US Stock Market indexes are Dow Jones, S&P 500, and Nasdaq. Q2. Which stocks have gone up? A2. Shares of leading homebuilders such as PulteGroup, Lennar, and D.R. Horton are up between 4.2 per cent and 8.8 per cent in the last week, as of midday Friday, thanks largely to the recent drop in mortgage lending rates.
