U.S. Stocks End Higher, Kicking Off Week on a Positive Note
U.S. stocks edged higher on Monday, kicking off the week on a positive note after a strong run-up last week. The S&P 500 gained 0.2%, the Dow Jones Industrial Average rose 0.1%, and the Nasdaq Composite climbed 0.3%.
Treasury Yields Climb
Treasury yields rose on Monday, as investors braced for a potential slowdown in the pace of interest rate hikes from the Federal Reserve. The benchmark 10-year Treasury yield rose to 4.65%, up from 4.58% on Friday.
Oil Prices Edge Higher
Oil prices edged higher on Monday, as traders weighed the prospect of supply cuts from OPEC+ against concerns about slowing economic growth. Brent crude rose 0.6% to $84.77 per barrel, while West Texas Intermediate crude rose 0.3% to $80.85 per barrel.
KKR Lands $20 Billion Deal to Buy Telecom Italia’s Fixed-Line Network
KKR has landed a $20 billion deal to buy Telecom Italia’s fixed-line network, in a deal that could help the Italian telecoms giant reduce its debt burden.
Divi’s Lab Jumps Over 5%
Shares of Divi’s Laboratories Limited jumped over 5% on Monday after the pharmaceutical company reported a better-than-expected profit for the quarter ended September 2023.
SBI Expects to Disburse Rs 1.4 Trillion Worth of Corporate Loans in the Next Two-Three Quarters
State Bank of India (SBI) expects to disburse Rs 1.4 trillion worth of corporate loans in the next two-three quarters, as the economy is showing signs of recovery.
Boult Audio Expects to End the Current Financial Year with a Top-Line Growth of 60% to Rs 800 Crore
Consumer electronics startup Boult Audio expects to end the current financial year with a top-line growth of 60% to Rs 800 crore, driven by strong demand for its products.