Global markets pause as Nvidia earnings awaited
European and Asian stock futures dropped as investors await Nvidia's earnings report. Hong Kong's stocks fell due to poor results from Li Auto.
The Bloomberg Commodity Spot Index hit a 15-month high, with gold and copper near record levels. The US dollar inched up as the Federal Reserve signalled fewer rate cuts than expected. Cryptocurrencies surged on hopes of US approval for Ether ETFs.
Traders are keeping a close eye on upcoming events, including Fed minutes and Nvidia's performance report.
Big IPOs set to return to India after stock market boom
India is gearing up for a wave of large IPOs as the stock market continues to soar. Citigroup predicts four to five IPOs worth at least $1 billion each in the next year, with several others over $100 million.
This shift from smaller IPOs is driven by strong economic growth, rising earnings, and market optimism. Major companies like FirstCry and Ola are potential candidates. The outcome of the ongoing elections will influence timing, with investors anticipating political stability.
India's IPO proceeds have already surpassed Hong Kong and South Korea, indicating a robust market outlook.
SoftBank doubles bond sale to ¥80 billion post high investor demand
SoftBank Corp. increased its bond sale to ¥80 billion ($510 million) due to strong investor interest. It issued ¥20 billion in three-year bonds at a 0.828% coupon and ¥60 billion in five-year bonds at 1.189%, significantly higher than last year's rates.
This marks SoftBank's second bond sale in Japan this year, aimed at bolstering its business, especially in AI. The proceeds will be used to repay existing borrowings.
Investor demand for the bonds was robust, with multiples of 1.2 and 1.1 times for the three-year and five-year bonds, respectively.
Join the Investors' Club
Get access to professional investing tools for free and start building your wealth today!
Capital at risk
