US stock market

As we approach the weekend, domestic markets are anticipated to open flat on Friday. It’s worth noting that market participation is expected to remain low, primarily due to the long weekend holidays. This is because the market will be closed on Monday for local polling related to the general election, a factor that could influence trading volumes and market dynamics.

The ₹2,615-crore IPO of Go Digit General Insurance Limited, a digital full-stack company, ends today for subscription. The comes out with a price band of ₹258-272 and market lot is 55 shares. The issue has so far been subscribed 0.79 time or 79 per cent.

Zydus Lifesciences Ltd.’s shares were up by 2.25 per cent to ₹1,031.95 on the BSE. The company announced that its wholly owned subsidiary, Zydus Lifesciences Global FZE, entered into an exclusive licensing and supply agreement with MSN Laboratories for Cabozantinib Tablets, a generic version of CABOMETYX, intended for the US market.

Two top executives of PB Fintech are planning to sell some portion of their stake in the company for ₹1,053 crore through block deals with a floor price of ₹1,258 per share, a 6 per cent discount to the closing share price on Thursday. According to the term-sheet seen by businessline, Yashish Dahiya and Alok Bansal will be selling 54 lakh shares and 29.7 lakh shares respectively, cumulatively representing 1.86 per cent equity of the fintech. According to the shareholding pattern at the end of March 2024, Dahiya held 4.63 per cent stake or 2.1 crore shares in the company, while Bansal held 75.4 lakh shares or 1.67 per cent stake

Source: Wall Street News UBS said that the effectiveness of the selling strategy of U.S. stocks in May weakened, which means that the U.S. dollar may not be able to rely on this seasonal factor to obtain significant support in the future.

Richard Tang, global head of markets at hedge fund Rokos Capital Management, believes the Fed is unlikely to loosen monetary policy this year.

Gelonghui May 16 | Chip company Arm (ARM.US) rose 2.6% to US$116.63

Gelonghui, May 16 | Satellite operator AST SpaceMobile (ASTS.US) soared over 45% to US$3.47

Baidu (Nasdaq: BIDU; HKEX: 9888) today released its financial report for the first quarter of 2024 as of March 31: total revenue was 31.5 billion yuan, a year-on-year increase of 1%

Market veteran Ed Yardeni said in an interview on Tuesday that if Federal Reserve policymakers choose to ease monetary policy at the July or September meeting, it could send the S&P 500 index soaring 13% to 6,000 points by the end of the year.