Latest news with #S&P
Yahoo
19 hours ago
- Business
- Yahoo
Josh Brown Pitches ‘Potential Breakout' Stock
Hilton Worldwide Holdings Inc (NYSE:HLT) is one of the . Josh Brown, CEO of Ritholtz Wealth Management, recently talked about hotels and resorts company Hilton Worldwide Holdings Inc (NYSE:HLT) during a program on CNBC and called it a breakout stock. Here is how Brown made the case of the stock that's up 12% so far this year. 'This is a potential breakout. It's not quite in progress, but it's getting very close. And I thought I'd spotlight this. Basically, we saw a golden cross happen as the stock climbed out of its Liberation Day lows. Hilton was in a 24% drawdown. Now, it's back to within 4% of 52-week highs. Got that 50-day crossing back over the 200-day. Look, the sector itself — leisure, lodging, travel, service industries in the S&P — every single name, with one exception, is above its 50-day. The sector is just absolutely on fire. We talked about the cruise lines the other day, and Hilton should follow through here. Full-year guidance looked great, and that's why the stock's working. So, I think the 270s is where traders want to watch for that trigger. If it can get through the 270s on convincing volume, I think it's a pretty good setup.' Photo by jared rice on unsplash While we acknowledge the potential of HLT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
a day ago
- Business
- Yahoo
Asian Equities Traded in US as ADRs Rise in Thursday Trading
Asian equities traded in the US as American depositary receipts rose Thursday morning with the S&P A Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Will Canada's double whammy of tax cuts and defence spending hurt its AAA credit rating?
Canada's top-tier credit rating remains intact despite a post-election surge in federal spending and tax cuts, according to a new Desjardins report — but growing debt and a costly NATO defence commitment could threaten that standing in the years ahead. Canada currently holds some of the highest possible credit ratings among advanced economies — AAA from S&P, Aaa from Moody's and AA+ from Fitch — making it one of the best-rated bond issuers in the G7. Desjardins' report says that standing appears safe for now, despite growing fiscal pressures. 'The likely substantial increase in borrowing ahead probably doesn't mean much for the government of Canada's top-notch credit rating, at least in the near term,' it said. A sovereign credit rating is both an absolute and a relative assessment. On an absolute basis, it reflects a sovereign country's outstanding debt and its capacity to manage it, while also taking into account the relative credit developments of other sovereign countries. At NATO meetings at the end of June, member countries agreed to increase defence spending up to five per cent of their GDP by 2035. The spending is to be divided into core defence expenditures of 3.5 per cent and 1.5 per cent in defence-adjacent spending, according to Desjardins. For Canada, which lags behind its fellow NATO members in spending, this is a significant increase from its current defence outlay of 1.4 per cent of GDP. It has now committed to raising that number to two per cent by the end of the 2025-26 fiscal year. Randall Bartlett, chief economist at Desjardins, said that the spending could impact Canada's AAA credit rating. 'Canada has a lot of things going for it on the fiscal front. But over time, if our fiscal situation erodes, particularly if we can't find those savings, that does put Canada in a precarious position of potentially putting our AAA credit rating at risk,' he said. Bartlett noted that Canada has a long way to go to close the gap with its NATO partners, and a much further way to go than most other members to meet the new requirements. 'For the amount of spending that requires, the share of GDP is going to be a lot higher in Canada than it is in other countries, and that's certainly going to increase the debt burden of the federal government,' he said. According to IMF forecasts cited in the report, Canada's gross general government debt as a share of GDP would need to be about seven per cent higher if defence expenditure is to reach 3.5 per cent of GDP by 2030. This is assuming no new spending and/or revenue cuts are introduced in other sectors to offset military spending. Bartlett reiterated that, in the near-term, Canada's rating is safe due to its strong fiscal positioning. However, he emphasized that the debt to GDP ratio will move higher. The new NATO defence spending framework could prove to be an issue for countries like Canada who have committed to meeting the targets and might find it hard to live up to that commitment, Bartlett said. He also raised concerns regarding Canada's fiscal path moving forward, citing the lack of information from the government. 'I think the fiscal path in Canada is certainly headed in the wrong direction at this point. Not only is spending higher, but the federal government has decided to cut taxes at the same time. That could put us in a very challenging situation in the future, which would potentially require deeper savings through spending cuts and lead to some very difficult choices,' Bartlett said. Michael Wernick: Canada needs a Defence and Security Tax to meet its new NATO commitments head on Expect higher deficits to meet Canada's 5% NATO defence spending target He further emphasized that the lack of a fiscal plan is a major concern, especially considering the dynamics of the global economy. 'I think it is deeply concerning, because not only does our forecast and those of others show that the GDP ratio is rising consistently over time, but it speaks to a lack of transparency in financial reporting (from the government)' he said.
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
S&P/TSX composite down in late-morning trading, U.S. stock markets also lower
TORONTO - Losses in industrial and telecommunication stocks weighed on the Toronto market as Canada's main stock index fell in late-morning trading, while U.S. stock markets also pulled back. The S&P/TSX composite index was down 78.55 points at 27,308.38. In New York, the Dow Jones industrial average was down 149.30 points at 44,335.19. The S&P 500 index was down 3.89 points at 6,293.47, while the Nasdaq composite was down 15.60 points at 20,870.05. The Canadian dollar traded for 72.89 cents US compared with 72.71 cents US on Thursday. The September crude oil contract was up 78 cents US at US$67.01 per barrel. The August gold contract was up US$14.80 at US$3,360.10 an ounce. This report by The Canadian Press was first published July 18, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Business Standard
2 days ago
- Business
- Business Standard
Benchmarks dip for second day; Nifty slips below 25,000
Key equity benchmarks closed lower for a second consecutive session on Friday, weighed down by lackluster corporate earnings and subdued global cues. The Nifty 50 index slipped below the psychological 25,000 mark, pressured by declines in banking and consumer durables stocks. The S&P BSE Sensex dropped 501.51 points or 0.61% to 81,757.73. The Nifty 50 index slipped 143.05 points or 0.57% to 24,968.40. With this, the Sensex and Nifty have shed 1.06% and 0.97% over the past two sessions, respectively. Among the top drags, Axis Bank plunged 5.24% after a weak quarterly performance. HDFC Bank and Bharat Electronics also fell 1.47% and 2.34%, respectively. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 0.62% and the S&P BSE Small-Cap index shed 0.64%. Market breadth was decisively negative with 2,394 stocks declining against 1,657 advancing on the BSE. Volatility edged up, as the India VIX rose 1.33% to 11.39, signaling rising nervousness among investors. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.11% to 6.309 from the previous close of 6.303. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.1625 compared with its close of 86.1200 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.44% to Rs 97,900. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.26% to 98.39. The United States 10-year bond yield shed 0.47% to 4.443. In the commodities market, Brent crude for September 2025 settlement shed 62 cents or 0.89% to $70.14 a barrel. Global Markets: Most European stocks traded higher on Friday, as investors focused on corporate earnings for clues on the impact of U.S. tariff policies on businesses. German producer prices fell by -1.3% on the year in June, the federal statistics office reported on Friday. Most Asian shares ended higher, taking cues from Wall Street's rally overnight. Investors cheered a batch of upbeat US economic reports and corporate earnings that comfortably beat expectations. In Japan, inflation showed some signs of cooling. Core inflation for June eased to 3.3%, down from Mays 29-month high of 3.7%, with rice prices showing signs of moderation. Headline inflation also slipped to 3.3%, from 3.5% the previous month. However, the "core-core" inflation gauge, closely tracked by the Bank of Japan, as it strips out both food and energy, edged up to 3.4%, hinting that underlying price pressures are still in play. Over on Wall Street, the S&P 500 and Nasdaq closed at record highs on Thursday. Strong earnings and resilient consumer spending drove the rally. The Dow Jones rose 0.52%, while the S&P 500 climbed 0.54%, and the Nasdaq jumped 0.74%. Investors also brushed off worries about new US trade tariffs set to kick in from August 1 under President Trump, focusing instead on growth and AI-fueled optimism. Taiwanese chip giant TSMC stole the spotlight with stellar earnings and a bullish outlook on AI-related demand. Its US-listed shares surged 3.4%, igniting gains across the semiconductor and tech sectors. Adding to the momentum, US retail sales rebounded strongly in June after two months of decline. Sales rose 0.6% month-on-month, reversing a 0.9% dip in May, thanks to increased auto purchases and a still-healthy consumer. Stocks in Spotlight: Gujarat Mineral Development Corporation (GMDC) surged 14.75%, following reports that the Prime Ministers Office (PMO) may convene a stakeholder meeting to discuss the rare-earth magnet supply situation. GMDC is reportedly keen on entering the rare earth and critical minerals sector, considering it a potential value driver due to its applications in electric vehicles and renewable energy. Saregama India surged 4.51% after the company struck a major deal to acquire NAV Records Haryanvi music catalogue. The acquisition includes over 6,500 tracks spanning Haryanvi, Punjabi, Ghazals, Devotional, and Indie Pop, giving Saregama a powerful entry into a regional music segment where it previously lacked dominance. The deal also includes high-traffic YouTube channels like NAV Haryanvi and Nupur Audio, which together command a 24 million subscriber base. Axis Bank declined 5.24% after the banks net profit de-grew 4% YoY to Rs 5,806 crore in Q1FY26. The banks Net Interest Income (NII) was up 1% YoY to Rs 13,560 crore. Net Interest Margin (NIM) for Q1FY26 stood at 3.80% as against 3.97% in Q4FY25 and 4.05% in Q1FY25. Wipro advanced 2.56% after the IT major's net income for the Q1 quarter was at Rs 3330 crore, decrease of 6.7% QoQ and increase of 10.9% YoY. Gross revenue at Rs 22130 crore, decrease of 1.6% QoQ and increase of 0.8% YoY. Total bookings was at $4,971 million, up by 24.1% QoQ and 50.7% YoY in constant currency. The company expects revenue from its IT Services business segment to be in the range of $2,560 million to $2,612 million. This translates to sequential guidance of (-)1.0% to 1.0% in constant currency terms. LTIMindtree declined 1.27%. The company reported a 11.13% jump in consolidated net profit to Rs 1,254.10 crore on 0.71% increase in revenue from operations to Rs 9,840.60 crore in Q1 FY26 over Q4 FY25. Jio Financial Services shed 0.44%. The companys consolidated net profit rose 3.83% to Rs 325 crore while total income jumped 48.09% to Rs 418 crore in Q1 June 2025 over Q1 June 2024. Nuvoco Vistas Corporation advanced 1.52% after the company posted strong Q1 FY26 results. On a consolidated basis, net profit surged 4,589% year-on-year to Rs 133.16 crore in Q1 FY26. Revenue from operations grew 8.96% YoY to Rs 2,872.70 crore during the quarter. Route Mobile fell 4.78% after the company's consolidated net profit declined 32.23% to Rs 53.21 crore on a 4.77% drop in revenue from operation to Rs 1,050.83 crore in Q1 FY26 over Q1 FY25. Indian Hotels Company (IHCL) advanced 1.56% after the companys consolidated net profit rose 19.31% to Rs 296.37 crore on 31.66% surge in revenue from operations to Rs 2,041.08 crore in Q1 FY26 over Q1 FY25. Sterling and Wilson Renewable Energy (SWREL) dropped 4.44%. The company reported a consolidated net profit of Rs 31.97 crore in Q1 FY26, which is nearly eight times the PAT of Rs 4.19 crore posted in Q1 FY25. Revenue increased by 92.5% to Rs 1761.63 crore in the first quarter from Rs 915.06 crore recorded in the same period last year. Sunteck Realty declined 1.95%. The company reported a 46.75% rise in net profit to Rs 33.43 crore, despite a 40.45% decrease in total revenue from operations to Rs 188.32 crore in Q1 FY26 compared to Q1 FY25. Indian Overseas Bank (IOB) fell 0.15%. The bank reported 75.57% rise in net profit to Rs 1,111.04 crore on 17.15% increase in total income to Rs 8,866.47 crore in Q1 FY26 over Q1 FY25.
