Page 7 - S&p

Wall Street rallies with US Election Day underway; Dow Jones rises over 2%

The S&P 500 was up 57.67 points, or 1.74%, at 3,367.91, and the Nasdaq Composite was up 171.87 points, or 1.57%, at 11,129.49

Investors gravitate towards index funds, ETFs as equity funds underperform

Fifteen of the 16 debt categories have beaten diversified equity funds over a three-year period, data shows

Axis Bank well-placed to face downside risks due to tough conditions: S&P

Asset quality to be weaker than HDFC Bank

S&P 500, Dow sink to September lows on spiraling pandemic, election worry

All three major indexes fell about 3 per cent

S&P ends choppy session lower as US stimulus package talks drag on

The Dow Jones Industrial Average fell 97.97 points, or 0.35%, to 28,210.82, the S&P 500 lost 7.56 points, or 0.22%, to 3,435.56

S&P affirms India's "BBB-" rating with stable outlook; weak points flagged

Agency sees major economic recovery in 2021, normalisation by fiscal 2022; also refers to weak fiscal settings, such as elevated govt deficits and indebtedness, low per capita income

S&P affirms India's 'BBB-' rating, projects 10% GDP growth in FY22

"The stable outlook reflects our view that India's contraction in fiscal 2021 will be followed by a significant recovery, which will stabilise the country's broader credit profile," said S & P

Top headlines: Harley-Davidson exits India, S&P on Indian banking system

From BSE 500 index underperforming since March, GAIL cutting supplies after fire at ONGC plant to S&P on banking system recovery, Business Standard brings you top news of the evening

S&P, Nasdaq retreat as data show weak domestic business activity

Data from IHS Markit showed gains at factories were offset by a retreat at services industries in September

Global automobile sales forecast to fall by 20% this year, says S&P

Global light vehicles sales are expected to fall by 20 per cent this year compared with 2019 following sales and production disruption due to the COVID-19 pandemic, S & P Global Ratings in a report published on Friday."This new forecast follows a first-half 2020 sales slump of 25 per cent, an unprecedented shock for the global industry," said S & P Global Ratings analyst Vittoria Ferraris."We project global vehicle sales to expand 7 to 9 per cent both in 2021 and 2022, meaning that light vehicle sales two years from now will still be 6 per cent below 2019 volumes."Any upside to our sales scenario will stem mainly from the Chinese market, the most dynamic but least predictable among the main global auto markets, said Ferraris adding that China may be the only market to catch up with 2019 volumes by the end of 2022.S & P said its global auto sales forecast is more conservative than general market standards.But it deems it consistent with the pandemic-related dramatic squeeze

Debt monetisation by RBI could undermine investor confidence: S&P

S&P said sovereign-bond purchases by central banks in emerging markets have not spooked the markets because investors accept these operations as emergency actions related to the Covid-19 pandemic

Fiscal deficit may hit 8% of FY21 GDP on additional govt borrowing: Experts

The development comes at a time when the economy is limping back to normalcy after a stringent lockdown that lasted over two months

Reliance's asset monetisation over 4 months to boost credit quality: S&P

The oil-to-telecom conglomerate has amassed Rs 2.1 trillion in investment proceeds since Facebook announced its investment in its digital unit Jio Platforms Ltd in April

Hong Kong's 'specialness' being eroded, zero growth plausible, says S&P

Hong Kong's long-term economic prospects faced risks from the deterioration in the US-China relationship, resulting in a decoupling of the US dollar and Chinese financial systems, S&P said

State-run banks will need Rs 35,000-40,000 crore of additional capital: S&P

Government-owned banks in India, in aggregate, will be able to absorb the estimated credit losses without breaching the regulatory minimum, but these banks need capital to grow

Wall Street slips as surging virus cases dent recovery hopes; Dow falls 1%

The Labor Department's most timely data on the economy showed 1.31 million Americans filed for state unemployment benefits in the latest week

Covid-19 pandemic may set back banks' recovery by years, says S&P

It also expects non-performing assets (NPAs) to hit a fresh high this year.

Indian economy in deep trouble; growth may contract 5% this year: S&P

S&P Global Ratings on Thursday said Indian economy is in deep trouble with growth expected to contract by 5 per cent this fiscal. "India's economy is in deep trouble. Difficulties in containing the virus, an anemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021," S&P said in a report. In its report titled 'Asia-Pacific losses near USD 3 trillion as balance sheet recession looms', S&P projected the region's economy to shrink by 1.3 per cent in 2020, but grow by 6.9 per cent in 2021. This implies a loss nearing USD 3 trillion output over these two years. "Asia-Pacific has shown some success in containing COVID-19 and, by and large, responded with effective macroeconomic policies," said Shaun Roache, chief economist for Asia-Pacific at S&P Global Ratings. "This can help cushion the blow and provide a bridge to the recovery. The ...

Wall Street rallies on hopes of economic recovery; S&P up over 1%

The S&P 500 is on pace to finish the week with a 3.5 per cent gain, which would be its fourth in the last five weeks

Here are the rating agencies' forecasts on India in the last 2 months

Amid the coronavirus pandemic, the pace of credit rating downgrades has accelerated with average monthly downgrades increasing by 22 per cent in the past few months, ICRA said in a report