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A consensus is forming that the Federal Reserve should hold off on further interest rate cuts after a 25-basis-point move. Wall Street saw mixed results, with the Dow closing lower for the ninth consecutive session, a first since 1978. In corporate news, Microsoft significantly increased its Nvidia chip purchases, while Starbucks union workers authorized a strike. Morgan Stanley named Disney a top pick, and Salesforce announced plans to double its hiring for AI customer service agents.
UBS has lowered its price target for Adobe from $550 to $525, maintaining a Neutral rating amid a 9% stock decline. The firm noted that Adobe's projected 10% growth in Digital Media revenues and limited AI impact contributed to the adjustment, despite the company's strong gross profit margins of 88.66%. Other analysts have also revised their targets, reflecting mixed sentiments about Adobe's growth potential and AI strategy.
Chainlink (LINK) has surged over 20% in 24 hours, reaching $28, driven by major partnerships with Coinbase and SWIFT, and declining exchange balances as investors hold or stake their tokens. Analysts predict a potential rise to $100, contingent on breaking the $40 resistance level. With a 79.3% year-over-year increase, LINK's growth reflects strong market interest and institutional acceptance of blockchain technology.
Chainlink's price is currently at $22.65, down 17% from its monthly high, but analysts remain optimistic about a potential rise to $100, citing strong technical patterns and significant partnerships with major organizations like Coinbase and Swift. A cup and handle pattern suggests a target of $40 before reaching $100, contingent on surpassing its all-time high of $52.90, while a drop below $8.4 could invalidate the bullish outlook.
UBS has raised its price target for Lululemon Athletica Inc. to $360 while maintaining a Neutral rating, reflecting potential for a return to historical sales growth in the Americas. Despite a modest 2% year-over-year sales increase in Q3, the company’s strong gross margins and international growth, particularly in China, have led to optimistic price target revisions from several analysts. Market participants are keenly awaiting Lululemon's product innovation updates at the upcoming ICR Conference in January, which will be crucial for assessing future growth prospects.
HSBC has initiated coverage on Swiggy with a 'Hold' rating, while Nuvama has given a 'Buy' recommendation for Zen Tech. Goldman Sachs is optimistic about Westlife, projecting a target of ₹1,045 per share, citing menu interventions and expected same-store sales growth recovery. Citi highlights potential catalysts in the oil and gas sector, including possible GST inclusion for gas and lower CNG excise, while Jefferies notes strong returns for Indian CRO/CDMO stocks, with upcoming legislative actions likely to impact volatility.
India's benchmark indices closed higher on November 27, with the Sensex gaining 230.02 points to reach 80,234.08 and the Nifty rising 82.20 points to 24,276.7, amid a volatile trading session. Adani Group stocks surged up to 12% following news that the chairman and his aides were not charged under the US Foreign Corrupt Practices Act, adding Rs 1.2 lakh crore to the group's market capitalization. Meanwhile, European markets and US equity futures declined as investors assessed recent US cabinet appointments and awaited key economic data for insights on interest rate trends.
Capitolis has secured new strategic investments totaling $20 million from Citi, Morgan Stanley, State Street, and UBS, aimed at enhancing its Capital Marketplace and Portfolio Optimization businesses. The company, recognized for its innovative solutions in capital markets, continues to experience significant growth and momentum, bolstered by partnerships with leading financial institutions. CEO Gil Mandelzis emphasized the importance of collaboration with banks to strengthen financial markets within a regulated framework.
Capitolis has secured new investments totaling USD 20 million from Citi, Morgan Stanley, State Street, and UBS, enhancing its funding to USD 170 million. This capital will bolster its Capital Marketplace and Portfolio Optimisation sectors, as demand for its innovative financial solutions continues to grow. The company focuses on improving the safety and efficiency of capital markets through collaboration with financial institutions.
The potential for significant currency market volatility looms as President-elect Trump threatens to impose tariffs on Mexico, Canada, and China, with strategists warning that these moves may serve more as negotiation tactics than actual policy. Analysts predict that such tariffs could lead to a stronger U.S. dollar and increased pressure on foreign currencies, particularly the Mexican peso, which could see dramatic shifts in response to tariff announcements. The market anticipates a prolonged negotiation process, with the possibility of retaliatory measures complicating the landscape further.
Citizens, Inc.
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federal reserve interest rate decision impacts mixed wall street performance
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