Investors based in mainland China and Hong Kong are excluded from placing orders in Anthropic's IPO. This decision reflects the strategic sensitivities between Washington and Beijing regarding technology advancements. Some investors are exploring alternative methods to participate in the public offering through offshore structures. Anthropic intends to complete its IPO on November 18, pricing the shares ahead of trading the next day.
BofA Global Research anticipates that the Federal Reserve will implement a rate hike in January 2027. This adjustment follows the unexpectedly high Consumer Price Index report for October. Expectations of a 25-basis-point increase are supported by increasing inflation driven by various factors. Other banks like Goldman Sachs and Deutsche Bank have also revised their forecasts in light of recent data.
US stocks fell as Nvidia’s leadership turmoil triggered a broad technology selloff, sending the Nasdaq down 1.42% and the S&P 500 nearly 1% lower. Softer-than-expected producer inflation offered little relief as investors weighed the outlook for interest rates and the wider AI trade.
Chicago Fed president Austan Goolsbee stated that inflation has moved beyond temporary energy and tariff-related price shocks. He highlighted that increased demand from the AI buildout is pushing prices higher across many sectors including health care and services. Goolsbee emphasized the importance of upcoming inflation data for determining the Fed's rate increase pace. He noted that currently, there is no clear path back to the 2% inflation target.
During his speech, US Treasury Secretary Scott Bessent advocated for the Federal Reserve to keep an open mind about interest rate adjustments. He pointed out that the current economic indicators could be skewed due to a supply shock from the ongoing conflict in Iran. Despite recent market volatility, Bessent stressed that the US economy remains robust.
MAN Industries (India) Ltd has announced a substantial increase in consolidated profit after tax during the September quarter. The company's revenue from operations also saw a notable rise year-on-year, reflecting strong performance. The acquisition of National Pipe Company has positively impacted scale and profitability for the firm. Shipping disruptions in the Strait of Hormuz temporarily affected revenue but shipments are being executed.
Godrej Properties Ltd has successfully purchased a sprawling 31 acres of land in Indore for approximately Rs 130 crore. The company is set to embark on the creation of residential plots, providing an impressive saleable area of around 0.7 million square feet. This project marks the firm's third venture in Indore, reflecting a commitment to addressing the rising demand for thoughtfully designed communities.
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