Month: September 2020

U.S. Stock Futures Slip After Presidential Debate: Markets Wrap

TipRanks

Oppenheimer: These 2 Stocks Are Poised to Surge by Over 100%

When it comes to the market’s wild swings, is the glass half empty or half full? Oppenheimer’s chief investment strategist John Stoltzfus is taking the latter view.Despite the volatility that has ruled the market over the last few weeks, Stoltzfus actually likes what he’s witnessing in both the market and the economy. In particular, he points to U.S. companies that have been outperforming most other markets around the world as exciting plays, with the innovation in the U.S. reflecting a key component of his bullish thesis.“The U.S. is

Income Tax refunds issued: Taxpayers get more than Rs 1 lakh crore in first half of this fiscal

The I-T department had issued tax refunds at a speed of 76 cases per minute from April 8 to June 30, 2020.

The Income Tax Department today said that it has issued refunds of over Rs 1.18 lakh crore to more than 33.54 lakh taxpayers between 1 April 2020 and 29 September 2020. Income tax refunds of Rs 32,230 crore have been issued in 31.75 lakh cases and corporate tax refunds of Rs 86,094 crore have been issued in 1.78 lakh cases. The department has expedited the process of income tax returns after Finance Minister Nirmala Sitharaman announced faster tax

Mining sector holds key to recovery in post-COVID world; here’s how to unleash its full potential

File photo

By Ishaan Jain

India is poised to use the disruption caused by COVID-19 to lead into a phase of rapid industrialisation. The mining sector, like few other sectors, is the key to recovery in the post-pandemic world. Traditionally, 1% growth in mining results in an increase of 1.2-1.4% in the growth rate of industrial production. 1 direct job creates 10 indirect jobs. As per the 12th Five Year Plan of the Planning Commission of India, for every 1% increase in economic growth, the mining sector creates 13 times more employment than agriculture and six times more than manufacturing.

Wall Street’s GDP forecasts keep falling: Morning Brief

Tuesday, September 29, 2020

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But lower growth might not be bad for stocks.

Wall Street economists continue to slash expectations for fourth quarter growth.

In a note to clients published Sunday, Ellen Zentner and the economics team at Morgan Stanley lowered their fourth quarter GDP forecast to annualized growth of 3.5%, down from 9.3%. For the full-year 2020, Morgan Stanley now expects the economy will contract 2.7%, more than the 1.5% forecasted previously.

And this move followed downgrades to growth from JPMorgan

India may soon store crude oil in US, other foreign nations; invites cos to enhance domestic capacity

During 2019-20, the consumption of petroleum products was 213.7 MMT and the percentage of import dependency of oil and oil equivalent gas was 77.9 %.

Minister of Petroleum and Natural Gas Dharmendra Pradhan today said that the government is exploring overseas crude storage facilities in the US and other commercially viable locations. Speaking at the ‘GCTC Energy Security Conference 2020’, Dharmendra Pradhan added that taking the advantage of low crude oil prices in April and May 2020, India filled the existing strategic petroleum reserves with 16 million barrels of crude oil, resulting in saving Rs 5,000 crore for the government.

Twitter CEO Jack Dorsey backs Bitcoin and blockchain technology as the future of microblogging site; Details

Dorsey has been a vocal advocate of cryptocurrency for a long time.

Blockchain Technology: Twitter CEO backs blockchain technology for microblogging site’s security! CEO of Twitter and Square, Jack Dorsey has reasserted his stand that in order to keep his social media platform more secure from hackers, Bitcoin and blockchain technology is the future. Last year, he had announced a Bluesky, a non-profit platform for the development of a decentralised and open social media standard. During the Oslo Freedom Forum 2020, held virtually, Dorsey last Friday said that Bitcoin and blockchain indicate a world where content would live forever, adding

Aurora Cannabis Announces Date of Annual General Meeting

Bloomberg

Inside the JPMorgan Trading Desk the U.S. Called a Crime Ring

(Bloomberg) — Billionaires have Davos. For filmmakers, there’s Sundance. For the people who mine and trade and ship everything from iron ore to platinum, there’s London Metal Exchange Week. It’s a blur of symposiums and drinks, with a reliably lavish lunch thrown by JPMorgan Chase & Co. On a balmy October day in 2018, hundreds of guests crossed a courtyard in the shadow of the Bank of England to a medieval guild hall for champagne and sashimi courtesy of the bank and its top metals trader, Mike Nowak.Nowak

RBI may not cut repo rate again in upcoming monetary policy meeting; these 5 concerns weigh

Given the concerns around economic growth, various rating agencies have also drawn consensus on RBI likely retaining the monetary policy stance at accommodative.

Reserve Bank of India is expected to maintain the status quo on the interest rates for the second time in a row in the upcoming Monetary Policy Committee meeting. RBI’s MPC meeting was scheduled to commence on Tuesday but it has been postponed till further notice. With the current level of inflation and prevailing uncertainty over the growth outlook, it is expected that the RBI will adopt a wait-and-watch approach and hold the repo rate at

Google removes 17 apps from Play Store after cloud security firm cautions of malware causing WAP fraud

In January, Google had said that Joker was among the most persistent malware threatening its users.

Android apps: Tech giant Google last week removed as many as 17 apps from its Play Store, after they were found to be infected with malware. Security researchers from Zscaler found that the 17 apps were infected by Joker or Bread malware. These apps had been uploaded on the Play Store this month itself, and were downloaded around 1.2 lakh times before they were detected, Zscaler said in a post. The cloud security company said that once it informed Google about the malicious apps,

Oil Heavyweights Look Ready for a Showdown

InvestorPlace

7 Sin Stocks To Buy That Will Outperform the S&P 500

While the S&P 500 and a wide range of stocks continue their September slide, many investors are understandably jittery, wondering if a second market crash is coming this year. In response, they’re searching for industries that can offer more stability, but also growth and income over the coming quarters. One such group are the so-called “sin stocks,” which benefit when humans indulge in vices.Although there may be different definitions of sin stocks, these businesses include those in alcohol, tobacco, cannabis, gambling, adult entertainment, weapons and defense industries. What