Latest news with #Krishna
CNBC
10 hours ago
- Business
- CNBC
May jobs report, tariffs will rise to top of mind next week after comeback rally
Whether the stock market can sustain its big comeback next week will hinge in large part on the employment picture, with investors counting on resilient consumer spending to prop up an economy that's undergoing a massive upheaval from tariffs. Stocks have staged a rapid turnaround this month, with the S & P 500 rallying nearly 6% and the tech-heavy Nasdaq Composite climbing almost 9%. Tech stocks stocks tied to artificial intelligence especially benefited. Nvidia 's strong results this week added to renewed confidence in the sector, helping to drive up the chipmaker more than 23% in May alone . Still, there is concern that investors may be starting to get too complacent at a time when the S & P 500 looks priced for perfection. The broad market index is now trading at a forward price-to-earnings multiple of roughly 21, about where it was at the start of the year when investors worried that lofty valuations meant a pullback was in the offing. "While our own view is that recession risks have moderated since April, equities could still be getting complacent here considering EPS estimates are still getting marked down, the May rally likely got an assist from systematic/technical tailwinds, rates remain high, jobless claims are rising, and the tariff picture remains uncertain despite some recent risk-on headlines," Venu Krishna, head of U.S. equity-linked strategies at Barclays, said in a note. Ramped up tensions What's more, trade tensions are also ramping up again. The stock rally this month was driven in large part by the preliminary trade deal between the U.S. and China just two weeks ago, which reassured investors the worst of the tariff conflict may be in the past. On Friday, however, President Donald Trump revived fears of an extended trade war, saying China had reneged on their agreement. Nevertheless, Krishna said the stock market has looked past macroeconomic concerns before. In 2023, U.S. equities continued their upward ascent despite surging interest rates that led to a chorus of recession calls sounding from all corners of Wall Street. It was a demonstration of the stock market's "willingness to continue looking through macro distortions in the post-Covid era," Krishna said. Much of the reason investors appear willing to look past the macroeconomic challenges lies in the strength of the consumer, whose spending accounts for two thirds of the economy and which has powered forward even as sentiment tanked around Trump's tariffs. That has put greater attention on the employment data, with investors fearful that upcoming reports will start to show consumers and businesses crumbling under the weight of tariffs. Economists polled by FactSet expect the May jobs report next week will show the U.S. economy added just 125,000 jobs last month, down from the 177,000 jobs added n April. An in-line or stronger-than-expected result could be taken in stride by the stock market, while a miss on the consensus estimate could spook investors. For the time being, many investors remain optimistic. They expect a recession could be averted, even if a slowdown is inevitable, as both consumers and companies have so far weathered the tariff uncertainty better than was expected. Tight labor market "It's still a pretty tight labor market," said Anthony Saglimbene, chief market strategist at Ameriprise Financial. "Employers have been unwilling to shed employees, even if they're uncertain about the future, because they lived through the pandemic, and understood how hard it was to hire back and get qualified workers." "And so, the expectation is that, and we'll see this week, our labor market's holding up," Saglimbene added. Still, economists worry tariffs are slowly making their impact felt. EY-Parthenon chief economist Gregory Daco said that durable goods spending fell in the latest April personal income and outlays data, while the personal savings rate rose. "Tariffs had begun to take hold — but their full impact had yet to materialize," Daco wrote. "With employment growth slowing, income gains moderating and the inflationary effects of tariffs building, households are likely to become more cautious in the months ahead." "The Fed and Chair Powell deserve credit for guiding the economy to this point," Daco added. "But any summer celebration may be premature: a tariff-induced inflation storm is on the horizon." Fresh trade aggression Tariffs will continue to be top of mind for investors in the week ahead, especially after a federal court this week halted the majority of the administration's tariffs, only to be reversed by an appeals court granting a stay that allowed the levies to remain in place until next week. Investors worry the legal concerns only inject further uncertainty into tariff policy, especially if the Trump administration finds workarounds to put levies in place that could spur more trade aggression from the U.S. and retaliation abroad. Others worry that investors betting on the TACO trade, a term coined by the Financial Times standing for "Trump Always Chickens Out" on trade deals, could be a dangerous assumption. "We might actually get aggression where the market was anticipating we wouldn't, because [Trump] can't do exactly what he wanted to do with tariffs in the first place," Ameriprise's Saglimbene said. Week ahead calendar All times ET. Monday, June 2 9:45 a.m. S & P PMI Manufacturing final (May) 10 a.m. Construction Spending (May) 10 a.m. ISM Manufacturing (April) Earnings: The Campbell's Co. Tuesday, June 3 10 a.m. Durable Orders final (April) 10 a.m. Factory Orders (April) 10 a.m. JOLTS Job Openings (May) Earnings: Hewlett Packard Enterprise , CrowdStrike Holdings , Dollar General Wednesday, June 4 9:45 a.m. PMI Composite final (May) 9:45 a.m. S & P PMI Services final (May) 10 a.m. ISM Services PMI (May) 2 p.m. Fed Beige Book Earnings: Dollar Tree Thursday, June 5 8:30 a.m. Continuing Jobless Claims (05/24) 8:30 a.m. Initial Claims (05/31) 8:30 a.m. Unit Labor Costs final (Q1) 8:30 a.m. Productivity final (Q1) 8:30 a.m. Trade Balance (April) Earnings: Broadcom , Brown-Forman , Fastenal Friday, June 6 8:30 a.m. Hourly Earnings preliminary (May) 8:30 a.m. Average Workweek preliminary (May) 8:30 a.m. Manufacturing Payrolls (May) 8:30 a.m. Nonfarm Payrolls (May) 8:30 a.m. Participation Rate (May) 8:30 a.m. Private Nonfarm Payrolls (May) 8:30 a.m. Unemployment Rate (May) 3:00 p.m. Consumer Credit (April)
Time of India
15 hours ago
- Business
- Time of India
Bengaluru Airport bags IndiGo's Rs 1,100 cr MRO facility, to be built on 31 acres
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Airline carrier IndiGo on Friday announced plans to establish an additional maintenance, repair and overhaul (MRO) facility at Bengaluru 's Kempegowda International Airport (KIA). The airline signed a Memorandum of Understanding (MoU) with Bangalore International Airport Ltd (BIAL), under which BIAL will allocate approximately 31 acres for the facility will be built with an investment of over Rs 1,100 crore, inclusive of infrastructure, plant and machinery, the Karnataka government said in a statement. With this project BIAL will support a projected 1,300 aircrafts by FY31 and potentially scale it to 2,100 aircrafts by FY 37-38, it added. The new MRO facility at KIA will be an addition to its current infrastructure already serving Airbus, Boeing and defence aircrafts."Indigo's second MRO facility is expected to generate over 750 direct high-skill jobs in engineering, logistics, warehousing, and support services," Karnataka's Commissioner for Industrial Development Gunjan Krishna said the new facility will be equipped to handle both narrow-body and wide-body aircraft, boosting the airline's operational presence in southern planned facility will consist of four hangars to accommodate four wide-body aircraft or eight narrow-body aircraft, and one paint hangar to accommodate one wide-body aircraft.'With Indigo and Air India both now operating MRO facilities in Karnataka, alongside TASL's upcoming MRO plant and HAL 's existing MRO operations in the state, Karnataka truly earns its title as the MRO Capital of Asia ,' the Industries department said in a per government sources the Kalaburagi airport was also offered to IndiGo but the airline chose Bengaluru as its base.'The presence of IndiGo's MRO will also accelerate the entry of OEMs and Tier-1 suppliers, resulting in a multiplier effect in terms of jobs, industrial growth, and vendor development,' Commissioner Krishna added. She added that the project underscores Karnataka's commitment to fostering world-class aviation infrastructure and catalyzing high-skill job a few days ago Indigo said it has roped in Ton Dortmans with over 40 years of experience to build IndiGo's overall MRO strategy including for Airbus- A350 aircraft. Last year the carrier placed an order for 30 A350-900 more than 400 aircraft in its fleet and over 900 aircrafts still on order, a dedicated MRO facility will give a significant advantage in terms of aircraft availability, greater cost efficiencies and quicker turnaround benefiting the airline and its customers, Indigo said in a statement."Developing broad IndiGo MRO capabilities marks a significant and very strategic step for IndiGo. Partnering with BIAL underlines our shared commitment to drive long-term growth of the aviation ecosystem in Bengaluru", IndiGo Chief Executive Officer Pieter Elbers told the media
Hans India
17 hours ago
- Entertainment
- Hans India
Varalaxmi Sarathkumar's powerful look from ‘Police Complaint' unveiled
Varalaxmi Sarathkumar, acclaimed for her intense performances in South Indian cinema, is set to thrill Telugu audiences with her upcoming horror-thriller Police Complaint. The film's first look was unveiled on the occasion of Superstar Krishna's birthday, giving fans a glimpse of Varalaxmi in a never-before-seen avatar. Directed by Sanjeev Megoti, known for films like Aghora, Pourusham, and Adiparvam, Police Complaint delves into the concept of 'Chain Reaction of Karma,' where every action has a consequence. The director promises a gripping blend of horror, action, and thrills. 'We're exploring karma through a horror-thriller lens, and Varalaxmi's character will keep audiences hooked,' he said. Produced by Singapore Balakrishna and Mallela Prabhakar under MSK Pramidasri Films and Sri Vishnu Global Media, the film features a powerful ensemble including Naveen Chandra, Krishnasai, Ragini Dwivedi, Ravi Shankar, Aditya Om, Amit, and Rajashree Nair. The team has also confirmed a special tribute song to Superstar Krishna, which they believe will be a standout element of the film. The producers expressed their excitement, stating, 'We are mounting this project on a grand scale. Varalaxmi's performance and the tribute song will be major highlights. Sanjeev Megoti's vision is coming to life with precision.' The supporting cast includes well-known faces like Sharath Lohitashwa, Srinivas Reddy, Sapthagiri, Gemini Suresh, Jabardasth Naveen, and child artist Baby Tanasvi. With shooting progressing briskly, Police Complaint promises a fresh cinematic experience for fans of the thriller genre.
NDTV
20 hours ago
- NDTV
Krishna's Butterball: What Makes This UNESCO World Heritage Site In Mahabalipuram So Unique
Indian is a land of natural wonders. One such destination in the country brimming with cultural spectacles is Tamil Nadu. The state treats tourists with architecturally brilliant temples and pristine coasts. At its heart lies Mahabalipuram — a coastal town offering a treasure trove of ancient art, architecture, rock-cut caves, monolithic structures and many more awe-inspiring spots. One such unique tourist attraction in Mahabalipuram is Krishna's Butterball. Recently, travel vlogger Tanya Khanijow shared her experience of visiting the place on Instagram. 'South India is so unique. There's a place here where gravity is not just working,' explains Tanya Khanijow in the clip. The video then introduces viewers to an enormous 250-ton boulder, almost as tall as a 5-storey building. It stands on a 45-degree slope and 'hasn't moved in the last 1200 years.' Correct, that's Krishna's Butterball. Tourists in the video are seen trying at least to tilt the huge orb of rock with their hands, but to no avail. Watch the full video below: View this post on Instagram A post shared by Tanya Khanijow (@tanyakhanijow) All About Krishna's Butterball Krishna's Butterball, a UNESCO World Heritage Site, is a colossal granite boulder. It is approximately 6 metres high and 5 metres wide and positioned on a steep slope of a small hill near Ganesh Ratha. It is a part of the Group of Monuments located at Mamallapuram. Mythological Significance According to Hindu mythology, Lord Krishna once dropped his favourite butterball in the exact spot and it hasn't moved an inch since. Krishna loved butter and the rock bears a striking resemblance to a dollop of butter, hence its name. Another myth suggests that the Pallava king Narasimhavarman I tried to move the granite boulder with elephants. But he failed in the endeavour. Not even natural phenomena like heat or rain could budge the rock. Attempts To Move Later in 1908, the Governor of Madras, Arthur Lawley, attempted to displace the rock off the hill. He was concerned about the safety of the villagers. To pull off the impossible act, he brought seven elephants with a pulling power of 42 tons. Unfortunately, even he couldn't accomplish the feat. Science Behind Krishna's Butterball Scientists believe that Krishna's Butterball is a rare geological occurrence known as exfoliation. Over centuries, wind, fire and erosion have shaped the rock, making it perfectly wedged on the hill. Research also revealed that the rock is composed of a unique type of granite called gneiss, durable and resistant to erosion. The granite's remarkable balance defies the law of physics. Scientists have decoded that the shape of the rock, the slope of the hill and the natural friction between the rock and the ground have all contributed to its unique positioning.
Hans India
2 days ago
- Hans India
Leopard attack: Forest dept launches intensive operation after newly-wed man is killed
Mysuru: In a tragic incident that has shaken the region, a 24-year-old newlywed man was mauled to death by a leopard in the Sollepura forest area near Nagapura Haadi of Hunsur taluk on Monday. In response, the Forest Department has launched a large-scale combing operation to capture the elusive big cat, deploying multiple specialized teams and equipment. The victim, Harish from Kurubara Hosahalli village under the Hanagodu range in the Hunsur division, was herding goats with his father, Krishna, in the forest when the leopard attacked. Reports indicate that the animal approached to snatch a goat, and Harish, in an attempt to chase it away, was fatally attacked. Despite efforts to take him to the hospital, Harish succumbed to his injuries on the way. Harish had been married just three months ago, adding a heart-breaking layer to the tragedy. Following the incident, the Forest Department has launched an intensive leopard capture operation. Over 30 personnel from the Elephant Task Force, Leopard Task Force, and the Hunsur Regional Division of the Nagarahole Tiger Reserve are actively involved in the mission. Officials say that the forest is being thoroughly combed and that the leopard is expected to be captured soon. 'We have deployed all resources, and we are hopeful that the leopard will be trapped in the coming days,' stated a forest department official involved in the operation. In the wake of the fatal attack, the Forest Department has announced a compensation of Rs20 lakh to Harish's family. Of this, Rs 5 lakh has been handed over immediately at the time of the postmortem, while the remaining Rs15 lakh will be issued subsequently. Deputy Conservator of Forests (DCF) Seema confirmed the details of the relief package. The incident has reignited concerns over human-wildlife conflict in the buffer zones of protected areas like Nagarahole, especially as settlements and grazing activities continue near forest fringes. This is the second such attack reported in the region this year.
