Hedge funds venture back to markets to buy bank shares, says Goldman Sachs
  • April 29, 2025

Hedge funds venture back to markets to buy bank shares, says Goldman Sachs

LONDON (Reuters) -Hedge funds returned into markets last week to buy bank stocks having sold out of positions for eight straight weeks, a Goldman Sachs note shows. Financial firms including U.S. banks became the second-most net bought stock behind real estate this year, said the note released on Friday and seen by Reuters on Tuesday. Trading desks at JPMorgan Chase and Morgan Stanley brought in record revenue as markets boomed early in the year, while Wells Fargo earned more fees from clients quarterly presentations showed.

Stocks Climb With Earnings, Economic Data in Focus: Markets Wrap
  • April 28, 2025

Stocks Climb With Earnings, Economic Data in Focus: Markets Wrap

(Bloomberg) -- Stocks posted modest gains as traders tackled a deluge of European earnings while they awaited progress in trade negotiations and a series of updates on the US economy.Most Read from BloombergNew York City Transit System Chips Away at Subway Fare EvasionNYC’s Congestion Toll Raised $159 Million in the First QuarterNewsom Says California Is Now the World’s Fourth-Biggest EconomyThe Last Thing US Transit Agencies Should Do NowAt Bryn Mawr, a Monumental Plaza Traces the Steps of Blac

Beijing will not engage in market dumping, China's ambassador to India says
  • April 28, 2025

Beijing will not engage in market dumping, China's ambassador to India says

MUMBAI (Reuters) -China will not dump its goods in other countries due to its trade and tariff war with the U.S., Beijing's ambassador to India, Xu Feihong, wrote in an article on Tuesday, trying to allay fears of cheap Chinese goods flooding other markets. In tit-for-tat tariffs between the world's two biggest economies, China and the U.S. have hiked levies on each other's goods to over 100% since U.S. President Donald Trump took office in January, rattling global markets. The trade war has stoked fears that Chinese firms may divert goods to other markets, hitting competitiveness of exports from other countries.

Longest foreign buying spree in nearly two years powers Indian markets
  • April 28, 2025

Longest foreign buying spree in nearly two years powers Indian markets

(Reuters) -Foreign investors extended their longest buying spree since July 2023 on Monday, fuelled by U.S. trade deal hopes, cheap corporate valuations, and India's relative resilience to global tensions, helping markets shrug off concerns over India-Pakistan frictions. The main reason for FPIs coming back into Indian markets is that the U.S. and China are more vulnerable to a global trade war than India, which is projected to still remain the fastest growing large economy in fiscal year 2026, said G Chokkalingam, founder and head of research at Equinomics Research. Markets have also shrugged off fears of an escalation in tensions between India and Pakistan after a deadly militant attack in Kashmir last week, which initially sapped risk sentiment.

Wall Street drifts as corporate profits pile higher along with uncertainty about Trump's trade war
  • April 28, 2025

Wall Street drifts as corporate profits pile higher along with uncertainty about Trump's trade war

U.S. stocks are drifting in mixed trading Tuesday as stronger-than-expected profits keep piling higher for companies, while CEOs also say they’re unsure how long that can last because of uncertainty around President Donald Trump’s trade war. The S&P 500 was 0.3% higher in midday trading, coming off a five-day winning streak. Because it's the world’s largest package delivery company, UPS can offer a window into how the global economy is doing.