The Daily

Fed Chair Jerome Powell acknowledged Wednesday that the soaring stock market is helping support consumer spending — and the overall economy — right now.

If the market goes down, Powell said, it could hurt consumer spending. But spending wouldn’t take a large hit unless the market plunged.

“I think it’s certainly a factor supporting consumption right now,”

 » Read more about: Fed's Powell: Stock market is helping support consumer spending now  »

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Foreign investors have turned bullish on the banking sector given the attractive valuation, robust growth prospects and easing policy measures of RBI, resulting a spate of deals in the sector.

In recent months, foreign investors have injected over ₹45,000 crore into three mid-cap private sector banks. Japan’s Sumitomo Mitsui invested ₹13,400 crore for 24 per cent stake in YES Bank,

 » Read more about: Banks attract foreign investments on low valuation, high growth prospects  »

Indore Commodities Buzz Of October 31: Price Of Gold, Silver And Pulses– All You Need To Know |

 » Read more about: Indore Commodities Buzz Of October 31: Price Of Gold, Silver And Pulses– All You Need To Know  »

The Indian gem and jewellery sector is bullish despite rising gold prices, thanks to changing consumer trends preferring investments in the yellow metal through bars and coins.

Saiyam P Mehra, immediate past Chairman of Gem and Jewellery Domestic Council, said the sale of gold coins and bars increased by about 20 per cent during Diwali compared to 10 per cent earlier.

 » Read more about: Indian gem and jewellery sector bullish on changing consumer trends  »

TLDR

• Tesla stock rose 1.2% in premarket trading Friday after dropping 4.6% Thursday, with October ending essentially flat for the month
• BYD has lost more than $20 billion in market value since May as Chinese regulators pressure automakers to stop aggressive price cuts
• October saw high volatility for Tesla with four trading days showing moves of more than 5%,

 » Read more about: Tesla (TSLA) Stock: Flat October But November Typically Delivers 12% Gains  »

Yahoo Finance’s Hamza Shaban reports:

If Google has already moved past its most perilous legal challenge and wiggled out of the perception of playing catch-up to its rivals, the remaining question is one of search economics: How can Google make money from AI without dismantling the foundation of its search business?

 » Read more about: Stock market today: S&P 500, Nasdaq rebound as Apple, Amazon earnings revive faith in Big Tech  »

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 » Read more about: Stock Market Live October 31: S&P 500 (VOO) Not Spooked by Earnings, Rises on Halloween  »

Investors with a lot of money to spend have taken a bullish stance on ASML Holding (NASDAQ:ASML). And retail traders should know. We noticed this today when the trades showed up on publicly available …

 » Read more about: ASML Holding Options Trading: A Deep Dive into Market Sentiment  »