The US stock market enjoyed a significant boost on Friday as the S&P closed at an all-time high. The unexpected rise in job losses led to reduced expectations for a Federal Reserve interest rate hike in September. Strong earnings from corporations further propelled market indices upward. Meanwhile, a dip in oil prices, influenced by advancing peace talks, helped to soothe inflation fears.
The weak job report for July has tempered expectations surrounding a Federal Reserve rate increase. Consequently, futures markets now indicate a diminished probability of a rise in interest rates next month. Despite calls from several Fed officials for tighter monetary policy to counteract inflation, the economic community remains split on what lies ahead in rate decisions. The Federal Reserve is actively tracking inflation trends to shape its future policies.
The US dollar weakened against major currencies on Friday. Unexpected job losses in July fueled economic concerns and clouded Fed rate outlook. The unemployment rate declined, but labor force participation hit a multi-year low.
Raymond Realty experienced a 19% drop in profit for the quarter that ended in June, primarily due to increased operational costs that affected net earnings. Despite this, the total income rose to Rs 535.71 crore year-on-year. Moreover, the company reported impressive sales bookings of Rs 700 crore in the first quarter of FY27, representing a substantial increase from Rs 306 crore during the same period last year.
Gold prices reached a seven-week high on Friday owing to surprising job losses in the United States that lowered the likelihood of upcoming rate hikes. This trend puts gold on track for its best weekly gain in seven months, as reduced interest rates boost its allure over yield-producing investments. Additionally, silver and platinum prices witnessed notable rises.
Airbnb shares surged nearly 15% after the company raised its annual revenue growth forecast, citing resilient global travel demand and AI-driven efficiency. Better-than-expected quarterly revenue and lower customer-support costs reinforced investor confidence despite ongoing Middle East tensions.
Doximity shares surged after the healthcare platform highlighted the strong performance of its clinical AI, overshadowing an earnings miss. Investors cheered its AI capabilities, positioning the company as a specialised healthcare AI player despite mixed quarterly financial results.
Sebi has approved IPOs of nine companies spanning engineering, travel technology, gaming, drones, paper, renewable energy and digital platforms. The approvals strengthen India’s IPO pipeline, with firms including Laxyo, Garuda Aerospace, PlaySimple Games, Rediff.com and Jakson Green preparing to list.
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