US stocks subdued at open on mixed retail earnings ahead of Fed meet
The
Dow
Jones Industrial Average fell 0.4 points, or flat, at the open to 44,922.7. The S&P 500 fell 4.7 points, or 0.07%, at the open to 6,406.62, while the Nasdaq Composite dropped 45.3 points, or 0.21%, to 21,269.667 at the opening bell.
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Business Standard
10 minutes ago
- Business Standard
Stocks to Watch, Aug 21: India Cements, Clean Science, Railtel, Aurobindo
Stocks to Watch today, August 21, 2025: From India Cements to Clean Science and Technology, here are a few stocks that investors and traders will eye; check the full list Mumbai Stocks to Watch today, August 21, 2025: Indian equities are poised for a listless opening, amid mixed global cues. Last seen, GIFT Nifty futures were up 0.2 points at 25,083. Globally, investors await the Federal Reserve's annual symposium at Jackson Hole, Wyoming, from August 21 to August 23, where Fed Chairman Jerome Powell's comments will be scrutinised for any clues on the central bank's outlook on the economy and monetary policy. Overnight, US markets settled mixed as investors continued selling tech stocks. The S&P 500 was down 0.24 per cent, the Nasdaq was down 0.67 per cent, and the Dow Jones was flat with a positive bias. Asian markets traded mixed, with mainland China's CSI 300 up 0.38 per cent, Hong Kong's Hang Seng up 0.05 per cent, South Korea's Kospi up 0.82 per cent, and Australia's ASX 200 up 0.71 per cent. However, Japan's Nikkei 225 was down 0.57 per cent. Here is a list of stocks to watch today on August 21, 2025: Clean Science and Technology share price: Promoters Ashok Boob and Krishna Boob are likely to sell up to 24 per cent stake in the company via block deals, with the offer size at ₹2,626 crore and a floor price of ₹1,030 per share, reports cited. India Cements share price: UltraTech Cement is set to sell 20.1 million shares (6.49 per cent stake) in India Cements through Offer-for-Sale (OFS) on August 21–22. The floor price has been fixed at ₹368 per share. The OFS will open for non-retail investors on August 21, and for retail investors on August 22. Bharti Hexacom share price: The company has received approval from the majority shareholders at its 30th annual general meeting to sell mobile towers to its sister concern for ₹1,134 crore. Fortis Healthcare share price: In a bid to expand its footprint in Uttar Pradesh, hospital chain Fortis Healthcare on Wednesday signed an operations and management (O&M) agreement with Ekana Group to run a 550-bed greenfield hospital in Lucknow. Aurobindo Pharma share price: The company has emerged as the leading contender to buy Prague-based drugmaker Zentiva from private equity (PE) firm Advent International in a deal estimated at $5-5.5 billion, according to reports. Computer Age Management Services (CAMS) share price: CAMS has received a no-objection letter from the Reserve Bank of India (RBI) to transfer its online payment aggregator activities to its subsidiary CAMS Payment Services (CAMSPAY). Following the transfer, CAMS will voluntarily surrender its Certificate of Authorisation to the RBI. RailTel Corporation of India share price: The company has received a work order worth ₹35 crore from Kerala State Information Technology Mission for the operation and maintenance (O&M) of the SDC project, and another order worth ₹15.4 crore from the Higher Education Department, Government of Odisha. ICICI Bank share price: The private sector lender has increased its allocation to corporate social responsibility (CSR) to ₹801 crore in FY25 from ₹519 crore in FY24, according to its ESG report for FY25. IdeaForge Technology share price: The company has unveiled its mapping drone for a host of applications, including glacier mapping, complex urban landscapes surveys, conducting dense forest studies, and monitoring industrial corridors. Ashok Leyland share price: Ashok Leyland is set to expand its footprint in West Asia with a new manufacturing unit in Saudi Arabia. Titan Company share price: P B Balaji has resigned as Non-Executive Non-Independent Director, effective August 20. Godrej Properties share price: The Mumbai-based real estate developer has entered into an agreement to acquire a 7 per cent equity stake in Godrej Skyline Developers from an existing shareholder. The company has also emerged as the highest bidder for 7.825 acre land parcel in Kukatpally (KPHB), Hyderabad, with a total combined bid value of ₹547.75 crore, according to the bid status intimation email issued by e-auction facilitator MSTC Limited. SMC Global Securities share price: The company is investing ₹15 crore in equity shares of the National Commodity & Derivatives Exchange (NCDEX). Step-down subsidiary Prabal Motors has executed a Business Transfer Agreement (BTA) to acquire BharatBenz dealership operations from Globe CV in Punjab. The board will meet on August 25 to consider issuing non-convertible debentures (NCDs) worth up to ₹2,500 crore.
Economic Times
10 minutes ago
- Economic Times
Australian shares hit fresh high on mining and banks boost
Australian shares reached a record high, propelled by gains in the mining and banking sectors. Investors are keenly awaiting U.S. Federal Reserve Chair Jerome Powell's speech for insights into future interest rate decisions. Meanwhile, James Hardie and Whitehaven Coal experienced significant declines due to bleak outlooks and profit drops, respectively. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Australian shares rose to a record high on Thursday, driven by miners and banks, while investors awaited U.S. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday to gauge the interest rate S&P/ASX 200 index was up 0.6% at 8,966.80, as of 0043 GMT, after touching a fresh high of 8,973.70 earlier in the benchmark has gained 2.6% so far this month, hitting multiple record highs as risk sentiment improved due to a slew of factors including an interest rate cut and positive corporate around the globe are focussed on whether Powell will push back against market expectations for a rate cut next month when he speaks at the Fed's Jackson Hole symposium on Friday, following a weak jobs report for are currently pricing in around an 82% chance of a 25-basis-point rate cut in September, according to the CME Fedwatch in Australia, investors focussed on corporate shares of James Hardie deepened their rout from Wednesday, falling as much as 9.6% to A$28.92, their lowest level since January 20, fibre cement maker on Wednesday flagged a bleak outlook for fiscal 2026 and forecast earnings below street Coal fell as much as 4.2% to a one-month low of A$6.160, as the coal miner's annual profit declined by more than rose 1%, with BHP and Rio Tinto up 0.1% and 0.9%, climbed 0.3%, with the "big four" banks rising between 0.1% and 0.7%.New Zealand's benchmark S&P/NZX 50 index rose 0.4% to 13, Reserve Bank of New Zealand said the effect of interest rate cuts on the local economy had been slower than expected, with tariff threats impacting business and consumer confidence.
Economic Times
13 minutes ago
- Economic Times
Dollar drifts as investors ponder Fed independence ahead of Powell speech
The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve's independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates. ADVERTISEMENT Trump called on Fed Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in Michigan and Georgia, intensifying his effort to gain influence over the U.S. central bank. Cook said she had "no intention of being bullied to step down" from her position at the central bank. Trump has also told aides he is considering trying to fire Cook, the Wall Street Journal reported on Wednesday. "It has the potential to raise questions around the Fed's oversight and regulatory functions but it has little to no near-term monetary policy implications," said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities. That explained the relatively muted reaction in the currency markets to the news as the dollar initially dipped on the news but was mostly calm into the Asian session. The Japanese yen held onto gains made in previous sessions and was little changed at 147.41 per dollar, while the euro was steady at $1.1642. Sterling last fetched $1.34535. ADVERTISEMENT That left the dollar index, which measures the U.S. currency against six other peers, steady at 98.301. Unlock 500+ Stock Recos on App Trump has repeatedly criticised Powell for being too slow to cut rates, stoking investor worries about the central bank's independence and its credibility. ADVERTISEMENT Investors expect Trump will replace Powell with a more dovish appointment when his term ends in May. Trump earlier this month said he would nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a vacant Fed seat after Adriana Kugler unexpectedly resigned. Kristina Clifton, a senior economist at the Commonwealth Bank of Australia in Sydney, said if Cook resigns it would create another opening for Trump to appoint a Fed Governor who will vote to lower interest rates. ADVERTISEMENT "Perceived political interference in the Federal Reserve can undermine its independence, steepening the yield curve and denting the USD's safe haven status." The main focus this week has been on whether Powell will push back against market expectations for a rate cut at the Fed's September 16-17 meeting when he speaks on Friday at the Jackson Hole meeting, following a weak jobs report for July. ADVERTISEMENT "Markets are adamant that recent labour market data necessitates some policy calibration and are expecting Chair Powell to tip his hat in that direction," TD's Newnaha said. Traders are pricing in an 82% chance of a 25-basis-point rate cut next month, CME FedWatch tool showed. While the odds have lowered from last week after hotter than expected producer price inflation tempered expectations, investors are still pricing in over 50 bps of easing this year. Some analysts cautioned that markets could end up being disappointed by Powell's speech, noting that the impact of Trump's tariffs on inflation remains uncertain. "It is not clear that Powell will deliver strong guidance," said Benoit Anne, managing director in the investment solutions group at MFS Investment Management. If the dovish signals elude us, there will be significant pricing out of the odds for a September cut." In other currencies, the New Zealand dollar was nursing steep overnight losses at $0.58205 after diving 1.2% to its lowest level since April. New Zealand's central bank cut interest rates on Wednesday as expected but left the door wide open to yet more easing if needed. The Australian dollar eased 0.13% to $0.64245, hovering near a two-week low. (You can now subscribe to our ETMarkets WhatsApp channel)
