Latest news with #S&P500
The Star
2 hours ago
- Business
- The Star
Citi announces research expansion into private industry, mostly tech firms
The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File Photo (Reuters) -Citigroup said on Tuesday it is expanding its research coverage to include private companies, with a focus on rapidly growing tech firms, mirroring a similar strategy by JPMorgan Chase, which has reportedly begun covering non-listed firms. The expansion will focus on about 100 of the most influential private companies, especially in key sectors like artificial intelligence, offering event-driven analysis on product launches, customer acquisitions and new business lines. However, the reports will not include price targets, buy/sell recommendations, or earnings forecasts, the bank said. This comes as several private companies, such as OpenAI, SpaceX and TikTok-parent Bytedance, command valuations that rival or surpass several major S&P 500 firms, blurring the distinction between public and private market influence. JPMorgan Chase has also been offering research coverage for private companies, many of which have high valuations or are delaying listings, a person familiar with the matter told Reuters on Friday. (Reporting by Sneha Kumar in Bengaluru; Editing by Sumana Nandy)
The Herald Scotland
2 hours ago
- Business
- The Herald Scotland
US stock futures higher after Trump EU trade deal
Additionally, the EU will invest $600 billion in the U.S. and buy $750 billion worth of U.S. energy, Trump said. "More adverse scenarios seem to have been avoided, for now, and this is excellent news but whether everything will now be 'big and huge' still remains to be seen," said Carsten Brzeski, global head of macro for Dutch bank ING. At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.17%, while broad S&P 500 futures added 0.26% and Nasdaq futures rose 0.45%. Separately, the U.S. and China are expected to extend their tariff truce by another three months, the South China Morning Post reported. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng plan to have talks in Stockholm. Busy week ahead With a trade deal with the U.S.' largest trading partner easing tariff fears, investors will turn to earnings and the Federal Reserve's policy meeting for more direction. More so-called Magnificient Seven influential megacap technolgy companies are due to report quarterly results. They include Facebook parent Meta, Microsoft. Amazon and Apple. With about 30% of S&P 500 companies having reported results, overall quarterly earnings are on track for a 7.7% increase from a year ago, according to LSEG IBES. That's higher than the July 1 forecast for a 5.8% increase. Meanwhile, virtually no one expects the Fed to lower rates this week but investors will look for clues on when it might. The Fed has said with the economy showing resiliency, it would wait to see how Trump's tariffs play out before moving rates. At the end of the week, after the Fed's meeting, investors will see more inflation data and the key monthly jobs report to see if the labor market continues to hold up despite the Trump's back-and-forth tariff barbs over the past few months. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
The Star
3 hours ago
- Business
- The Star
China's rebound has a distinct ‘cool factor'
THE first seven months of 2025 have delivered a whirlwind of news on Chinese technology and business, oscillating between anxiety and euphoria, but what has cut through the noise has been the emergence of a 'cool factor'. In January, TikTok suspended its US services for one day, when the outgoing administration shut down the app due to its ties to China, before the decision was swiftly reversed by the incoming Trump administration. Days later, Chinese artificial intelligence (AI) company DeepSeek shocked the world with its cost-effective, high-performance R-1 reasoning model, triggering an intense debate about who will lead the 'AI race'. And then in early May, US-China tensions reached unprecedented heights, as tariffs jumped above 100%, effectively halting bilateral trade, before de-escalation. By summer, however, China was once again exporting critical rare earth to the United States and Nvidia had re-started the sales of its AI chips to China, suggesting a burgeoning trade detente between the world's two largest economies. Amid this volatility, China's capital markets have responded favourably. The MSCI China Index has surged around 25% year-to-date through July 25, outpacing the MSCI All-Country World index's 12% gain and the S&P 500 index's 9% rise. Notably, this strong performance has been driven not just by typical business-cycle fluctuations, but also an appeal rooted in innovation, collaboration and youth culture, suggesting China's next growth cycle could look very different from those in the past. Imitator to innovator China's evolution from low-cost imitator to global innovator is epitomised by its electric vehicle (EV) dominance. Chinese EV leader BYD, which began as a battery maker and currently has a market cap of US$150bil, was once dismissed by Elon Musk for its unattractive products and weak technology. However, a decade of development, supported by state-backed infrastructure including China's 10-million-strong charging network, has propelled BYD past Musk's Tesla in global sales. In 2024, one of every five EVs sold globally was from BYD, whose market share is now double that of Tesla's. Moreover, BYD's vehicles, like many other Chinese EVs, now boast the type of sleek designs and novel amenities associated with its US rival. Beyond product innovations, some Chinese companies are also experimenting with new business models and sales strategies. For example, livestream social shopping, which was pioneered by Alibaba, has been adopted by Amazon, Instagram, YouTube and even Walmart (in collaboration with TikTok) in the US to target Gen-Z and millennial shoppers. New players like Chinese toymaker Pop Mart are also experimenting with fresh business models. Its designer toys are sold in mystery boxes, where sealed packages conceal randomised plush Labubu figures, which adorn the luxury handbags of many influencers. This strategy seeks to tap into the thrill of uncertainty, creating viral demand beyond the Chinese domestic market. And this appears to be working. Pop Mart's sales from outside mainland China contributed to nearly 40% of its total revenue in 2024, and its profit in the first half of 2025 is expected to soar by at least 350% year-on-year. Open-source architect Historically, tensions surrounding intellectual property have dogged China's global trade relationships. Today, however, its embrace of open-source collaboration appears to signal a profound shift. China is now the fastest-growing and second-largest contributor of open-source code on GitHub, the world's leading platform for software collaboration. Moreover, Chinese tech giants like Huawei and Tencent rank among the top corporate sponsors of Apache and Linux foundations, major non-profit organisations that shape foundational technologies like AI and cloud computing. DeepSeek's R-1 model exemplifies this strategy. Released under the permissive MIT licence, it grants large-scale commercial reuse rights (unlike Google's Apache 2.0 or Meta's Llama licences) and has fuelled countless derivative models globally. Such openness has the potential to build developer loyalty, influence AI standards, and circumvent geopolitical friction. This shift has been underpinned by a focus on developing scientific prowess. In 2024, China led the world in high-quality research publications, according to Nature, holding the top spot for the second consecutive year. Its advantage in publications extends even to semiconductor design and fabrication, a field where US technological superiority is often assumed, with Chinese scholars authoring over half of the most-cited papers in this field in 2024. Structural headwinds However, the outlook for the country's businesses is not all rosy. Industrial profits are still shrinking, falling 1.1% year-to-date, despite various government stimulus measures, including a recently expanded consumer subsidy scheme and a central bank-backed initiative for state-owned enterprises to buy unsold homes. And price wars in sectors such as EVs and food delivery have gotten so brutal that the authorities have stepped in to mediate 'irrational' competition. Another structural issue is the country's stubbornly high youth unemployment rate (16-24-year olds excluding students), which remained at 14.5% – well above the 5% rate for the labour force as a whole. If China's future growth is to be driven more by a 'cool' factor, then the career prospects of its youth need to be strong enough to support their distinct consumption preferences as well as their entrepreneurial endeavours. Regardless of these challenges, innovation and open collaboration still have the potential to reshape China's global identity. Importantly, economic growth driven by these factors may be more evenly distributed and idiosyncratic, and therefore less cyclical, compared to China's old economic engines of real estate, infrastructure and production capacity investments. No longer just the world's factory, China is becoming a source of culturally resonant innovation. And as America's track record over the past decades suggests, no one should underestimate the value of cool. — Reuters Taosha Wang is a portfolio manager and creator of the Thematically Thinking newsletter at Fidelity International. The views expressed here are the writer's own.
Economic Times
3 hours ago
- Business
- Economic Times
Era of multilaterals over; in this era of bilaterals, India will be counted: Ashish Chauhan
Ashish Chauhan, MD & CEO, NSE, says India's growing economic importance is reshaping global geopolitics, marking a shift from a multilateral era where it was often overlooked. Now the fourth largest economy with technological prowess, India demands recognition. Post-World War II systems are becoming less relevant as India asserts its influence. If you look at a 20, 30, 50 years' time horizon, there is nothing better than India. On an average, we have given a growth of 6.5-7%. In rupee terms, we have given CAGR of almost 12-13%. In dollar terms we are 1% higher than S&P 500 in those 30 years. So, we have done wonderfully well in the last 30 years. ADVERTISEMENT Everything comes with its share of ups and downs. And that is exactly what the market is. When I met you earlier, at the National Stock Exchange, you said that like in a love relationship, markets also experience fights, ups and highs. Where do you think the market is headed next? There are question marks on when the rural recovery will come about even though the RBI has fired all guns. Where do you think the economy is headed? Ashish Chauhan: In a way, there are reasons why things happen and overall, the world is softening for a variety of reasons including the tariff war. But the tariff war is an outcome of a long drawn movement away from manufacturing in China and services in India from the rest of the world. In that context, the rich countries of the west are feeling slightly poorer and they are saying that if you want to access our markets, you need to pay tariffs which is, of course, in a way recessionary because it brings down demands and increases prices. So there is going to be an impact of that longer-term trend. The second trend which we have not discussed is because it happens over 20-30 years. Life goes through a lot of other noise, and we often do not look at that signal. It is the demographics. The world is becoming old. Other than India, Pakistan, Bangladesh, broadly the rest of the world is getting older. From Japan to China to Europe to the US, it is decisively older demographics, bringing down demand. But it will bring demand up for the hospitals and healthcare and many other things. We need to understand where life is going to go. The third long-term trend is technology. Technology is the only thing which changes the world. And the technology that has changed over the last 30 years has also changed India decisively. It has made India what it is today. The world power in services, information technology, and it is also going to take India up because of the same reason that the changes in technology are going to come even faster and India is the youngest, highly technology-oriented country compared to our neighbours or other younger course, we are a very large market ourselves. Overall on a scale of 25, 30, 50 years, India has a glorious future. I will say that in a thousand years, when the technology race was run, we were not even in the stadium. Now, we are at the front line and today we have a chance to become rich before we become old because we will also become an older society by 2100. But before that, we should all work hard to become rich. Within that, there are geopolitics issues. People who have a lot of money are feeling slightly poorer and have started coming after poorer countries. Those things will continue. We have to mend our ways. We have to ensure that we are good with people who have money, who need us. We learn from them. We bring ourselves up and of course, maintain our dignity in terms of negotiations. In that context, today what we call the era of bilaterals has started with Donald Trump. ADVERTISEMENT Before that, in the last 50, 60, 70 years, it was the era of multilaterals and multilaterals had given very little importance to India. The bilaterals are now a situation where we are being given importance because we are important. Now, we are the fourth largest economy. We are also an up and coming economy. We are a highly technology-oriented economy. So, people will have to give us importance and many times I say that when the new geopolitics is defined, India will be counted. We were not. When World War II got over and the Bretton Woods was called, our economists also went, but as a part of the British Empire because we had not become independent then. So, for me, the post World War II multilateral systems of World Bank and UN and WTO and every other thing, WHO is now becoming irrelevant in a way because of the way the new situation has evolved. ADVERTISEMENT You were part of the prime minister's contingent to the UK. Ashish Chauhan: That tells you that now India is able to kind of ask for each pound of flesh. If you look at a 20, 30, 50 years' time horizon, there is nothing better than India and we have seen it in the last 30 years. So many times, the markets have gone up and gone down, but on an average, we have given a growth of 6.5-7%. In rupee terms, we have given CAGR of almost 12-13%. In dollar terms we are 1% higher than S&P 500 in those 30 years. So, we have done wonderfully well in the last 30 years. But in the next 30 years or by 2047, as Modi says as as Viksit Bharat (developed India) we would be doing immensely well compared to the rest of the world. ADVERTISEMENT But what is the message for retail investors because they get affected by the noise, by all the headlines, and also the lofty valuations. In the long term, there is a reason why India will continue to command that premium, but in the near term, does that work well for retail participants? Ashish Chauhan: For me, retail participants are of two types – retail traders and retail investors. The retail investors would be investing for the long-term and if they do not have time because they have other jobs and they have savings, they would rather invest through mutual funds or portfolio managers or advisers and things like that because those are experts and they should go through them and not trade in derivatives. There is a class of people who are basically retail traders who would try to take every signal like what Donald Trump has said about China many times, and they will try to sell or buy. For me, it is not only retail guys who do it, there are professionals also who do it. There are algorithms which pick up all those things now and start trading. But that is what I call trading on the noise. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
3 hours ago
- Business
- Time of India
Era of multilaterals over; in this era of bilaterals, India will be counted: Ashish Chauhan
Ashish Chauhan , MD & CEO, NSE , says India's growing economic importance is reshaping global geopolitics, marking a shift from a multilateral era where it was often overlooked. Now the fourth largest economy with technological prowess, India demands recognition. Post-World War II systems are becoming less relevant as India asserts its influence. If you look at a 20, 30, 50 years' time horizon, there is nothing better than India. On an average, we have given a growth of 6.5-7%. In rupee terms, we have given CAGR of almost 12-13%. In dollar terms we are 1% higher than S&P 500 in those 30 years. So, we have done wonderfully well in the last 30 years. Everything comes with its share of ups and downs. And that is exactly what the market is. When I met you earlier, at the National Stock Exchange , you said that like in a love relationship, markets also experience fights, ups and highs. Where do you think the market is headed next? There are question marks on when the rural recovery will come about even though the RBI has fired all guns. Where do you think the economy is headed? Ashish Chauhan: In a way, there are reasons why things happen and overall, the world is softening for a variety of reasons including the tariff war. But the tariff war is an outcome of a long drawn movement away from manufacturing in China and services in India from the rest of the world. In that context, the rich countries of the west are feeling slightly poorer and they are saying that if you want to access our markets, you need to pay tariffs which is, of course, in a way recessionary because it brings down demands and increases prices. So there is going to be an impact of that longer-term trend. Explore courses from Top Institutes in Please select course: Select a Course Category MBA MCA Public Policy Degree CXO Artificial Intelligence Technology PGDM others Data Science Others Finance Product Management Healthcare Project Management Cybersecurity Management Digital Marketing Design Thinking Operations Management Data Analytics Data Science healthcare Leadership Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details The second trend which we have not discussed is because it happens over 20-30 years. Life goes through a lot of other noise, and we often do not look at that signal. It is the demographics. The world is becoming old. Other than India, Pakistan, Bangladesh, broadly the rest of the world is getting older. From Japan to China to Europe to the US, it is decisively older demographics, bringing down demand. But it will bring demand up for the hospitals and healthcare and many other things. We need to understand where life is going to go. The third long-term trend is technology. Technology is the only thing which changes the world. And the technology that has changed over the last 30 years has also changed India decisively. It has made India what it is today. The world power in services, information technology, and it is also going to take India up because of the same reason that the changes in technology are going to come even faster and India is the youngest, highly technology-oriented country compared to our neighbours or other younger nations. Of course, we are a very large market ourselves. Overall on a scale of 25, 30, 50 years, India has a glorious future. I will say that in a thousand years, when the technology race was run, we were not even in the stadium. Now, we are at the front line and today we have a chance to become rich before we become old because we will also become an older society by 2100. But before that, we should all work hard to become rich. Live Events You Might Also Like: NSE is still the first achievement and probably the largest I will ever have: Ashish Chauhan Within that, there are geopolitics issues. People who have a lot of money are feeling slightly poorer and have started coming after poorer countries. Those things will continue. We have to mend our ways. We have to ensure that we are good with people who have money, who need us. We learn from them. We bring ourselves up and of course, maintain our dignity in terms of negotiations. In that context, today what we call the era of bilaterals has started with Donald Trump . Before that, in the last 50, 60, 70 years, it was the era of multilaterals and multilaterals had given very little importance to India. The bilaterals are now a situation where we are being given importance because we are important. Now, we are the fourth largest economy. We are also an up and coming economy. We are a highly technology-oriented economy. So, people will have to give us importance and many times I say that when the new geopolitics is defined, India will be counted. We were not. When World War II got over and the Bretton Woods was called, our economists also went, but as a part of the British Empire because we had not become independent then. So, for me, the post World War II multilateral systems of World Bank and UN and WTO and every other thing, WHO is now becoming irrelevant in a way because of the way the new situation has evolved. You were part of the prime minister's contingent to the UK. Ashish Chauhan: That tells you that now India is able to kind of ask for each pound of flesh. If you look at a 20, 30, 50 years' time horizon, there is nothing better than India and we have seen it in the last 30 years. So many times, the markets have gone up and gone down, but on an average, we have given a growth of 6.5-7%. In rupee terms, we have given CAGR of almost 12-13%. In dollar terms we are 1% higher than S&P 500 in those 30 years. So, we have done wonderfully well in the last 30 years. You Might Also Like: There is more scope for Indian investment in the UK than the other way around: Swaminathan Aiyar But in the next 30 years or by 2047, as Modi says as as Viksit Bharat (developed India) we would be doing immensely well compared to the rest of the world. But what is the message for retail investors because they get affected by the noise, by all the headlines, and also the lofty valuations. In the long term, there is a reason why India will continue to command that premium, but in the near term, does that work well for retail participants? Ashish Chauhan: For me, retail participants are of two types – retail traders and retail investors. The retail investors would be investing for the long-term and if they do not have time because they have other jobs and they have savings, they would rather invest through mutual funds or portfolio managers or advisers and things like that because those are experts and they should go through them and not trade in derivatives. There is a class of people who are basically retail traders who would try to take every signal like what Donald Trump has said about China many times, and they will try to sell or buy. For me, it is not only retail guys who do it, there are professionals also who do it. There are algorithms which pick up all those things now and start trading. But that is what I call trading on the noise.
