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US stocks opened positively on Thursday, nearing record highs, with the S&P 500 leading the charge. McCormick's shares jumped following strong earnings and a positive outlook. Nvidia's gains continued, making it the most valuable US company. Despite a contraction in the US economy, optimism remains due to anticipated growth.
Zohran Mamdani's unexpected rise in the New York mayoral race is causing unease on Wall Street, with concerns about increased taxes and potential exodus of wealthy residents. His populist policies and social media savvy have garnered significant support, contrasting with establishment backing for his opponent. The election's outcome could significantly impact the city's financial landscape and future.
US President Donald Trump hinted at a significant trade deal with India, following a recent agreement with China. Negotiations are underway in Washington, led by Chief Negotiator Rajesh Agarwal, aiming to bridge gaps in the proposed bilateral agreement.
Stock market recommendations: Bajaj Broking Research suggests a bullish outlook for the Indian stock market, highlighting Tata Steel and Lloyds Engineering Works as top picks. Nifty is expected to reach 25,700-25,900, while Bank Nifty aims for 58,500, driven by positive market breadth and technical breakouts.
Trade talks between India and the US are gaining momentum, potentially leading to a significant agreement. President Trump hinted at a "very big" deal to open up India, focusing on sectors like energy, agriculture, and defense.
Asian stocks soared to multi-year highs, mirroring Wall Street's optimism, fueled by easing geopolitical tensions and anticipated interest rate cuts. Japan's Nikkei 225 surpassed 40,000 for the first time in five months. A weaker US dollar boosted Asian currencies and asset demand.
2025/06/29 15:49:23
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