Global stock markets fell on Friday morning as gold and oil prices spiked after Israeli strikes on Iran overnight rattled investor confidence.
The FTSE 100, which closed in on a record high in the previous session, fell 0.5 per cent at the open with losses buffered by strong gains in energy and defence stocks.
» Read more about: Stocks sink and oil soars after Israeli strikes on Iran shake markets »
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As Republicans in Congress sort out their giant tax cut and spending bill, one of the ideas floating around to save some money is to have the Federal Reserve stop paying interest.
For context, one thing the central bank does is act as a bank for banks. And like a commercial bank pays interest on its clients deposits,
» Read more about: Would ending Fed interest payments on bank reserves save the government money? »
Stock futures were falling early Friday after Israel launched an attack on Iran’s nuclear program and military leadership, ratcheting up geopolitical tensions in the Middle East.
Futures tracking the Down Jones Industrial Average plummeted 531 points, or 1.2%. S&P 500 futures dropped 1.3%, and contracts tied to the Nasdaq 100 tumbled 1.4%.
» Read more about: Stock Market News: Dow Set to Open Down after Israel Attacks Iran »
US stock futures tumbled on Friday as an Israeli attack on Iran’s nuclear program sites shook global markets, leading oil prices to spike amid fears of a new Middle East war.
Dow Jones Industrial Average futures (YM=F) dropped 1.1%, easing slightly from sharper gains in the aftermath of the strikes.
Mutual funds (MFs) emerged as prominent buyers in the month of May, stepping up as buyers at a time of heavy stake sales by promoters and foreign institutional investors via block and bulk deals.
According to data from ACE Equities, domestic mutual funds have invested over Rs 29,000 crore last month via block deals.
Ambuja Cements Ltd, Adani Ports & Special Economic Zone Ltd, Adani Green Energy Ltd, Adani Enterprises Ltd (AEL) and Adani Power Ltd are some of the Adani group stocks that saw mutual funds upping stakes in May. ACC Ltd saw MFs trimming stake in the month gone by.
