President Claudia Sheinbaum warned of potential retaliation against Donald Trump's proposed 25% tariffs on goods from Mexico, emphasizing that such measures could have dire economic consequences. She advocated for cooperation to address the root causes of migration and illegal drug flow, highlighting the risks to major exporters like General Motors, Stellantis, and Ford. Sheinbaum's stance reflects a desire to maintain a balanced approach amid escalating tensions between the US and China, signaling a preference for collaboration with the US, Mexico's primary trading partner.
Tesla's stock is facing potential challenges, with UBS analyst Joseph Spak rating it a Sell and setting a price target of $226, indicating a 33% downside. While recent policy changes may favor Tesla, concerns about U.S. EV demand, intense competition in China, and the readiness of its Full Self-Driving technology persist. The current market valuation suggests that Tesla's non-auto ventures are overvalued, leading to a consensus rating of Hold among analysts.
02:48 27.11.2024
Donald Trump has appointed Kevin Hassett to lead the National Economic Council, enhancing his economic team as he prepares for his inauguration on January 20. Hassett, who previously chaired the Council of Economic Advisers, will play a key role in shaping policies on trade, taxes, and deregulation. Alongside this, Trump has nominated Jamieson Greer as U.S. Trade Representative and indicated plans to raise tariffs on Chinese goods and products from Mexico and Canada.
China's industrial profits fell by 10% in October, following a 27.1% decline in September, highlighting ongoing deflation concerns despite government stimulus efforts. In the first ten months, profits decreased by 4.3%, while the consumer price index rose only 0.3%. However, retail sales grew by 4.8%, and the unemployment rate improved to 5%.
Indian benchmark indices, Sensex and Nifty 50, are expected to open flat to positive on November 27, following GIFT Nifty's performance around 24,240.50. On November 26, the indices ended a two-day rally, with Sensex down 105.79 points at 80,004.06 and Nifty down 27.40 points at 24,194.50.
President-elect Donald Trump is set to announce Jamieson Greer as the new US Trade Representative, emphasizing the significant role of tariffs in his economic strategy. Trump plans to impose a 25% tariff on imports from Canada and Mexico, along with a 10% levy on Chinese goods, despite warnings from economists about potential inflation and increased national debt. Greer, a protégé of former Trade Representative Robert Lighthizer, is expected to be instrumental in executing these trade policies.
Long-term financial goals should steer investment strategies, rather than being swayed by current market fluctuations. Recent market corrections were influenced by factors such as significant foreign portfolio investor sell-offs, muted corporate earnings growth, and currency fluctuations, alongside new market supply.
Private banks are currently among the most attractively priced sectors, with expectations for better performance ahead, according to Rohit Sarin, co-founder of Client Associates. He highlights that their pricing is favorable compared to historical averages and growth rates, supported by strong domestic institutional flows and improved valuations for foreign investors. The market is likely to consolidate rather than face significant corrections from current levels.
Hundreds of Chinese investors affected by the collapse of China Evergrande have initiated a coordinated campaign to seek updates from authorities regarding the failed property developer. This effort reflects growing frustration among those who lost their savings in the crisis.
CrowdStrike reported a strong quarter, raising its full-year outlook for sales, operating income, and earnings. However, the stock experienced a decline as traders took profits, likely due to the current quarter's profit guidance falling slightly short of expectations. This dip presents a buying opportunity for investors.
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