I think it comes back to the vision that we had on that ten years ago, which was very basic, it said. In the future there will be a digital financial assistant. It will analyse your spending, let's say a mortgage, and it will say like, That's too much.I found a better offer for you. The only thing you need to do is say yes, and I'll do all that, all the paperwork and get it all done for you and save you the cost. Right.So to us, this was basically where we believed retail banking was heading. And a little b ...

Stock market: Dalal Street witnessed strong momentum last week as the combined market capitalisation of eight of India's top 10 most-valued companies rose by Rs 1.94 lakh crore, reflecting renewed investor optimism.Tata Consultancy Services (TCS) emerged as the biggest gainer, while Hindustan Unilever and Life Insurance Corporation of India (LIC) saw declines in their valuations, PTI reported.The benchmark BSE Sensex rose 1,293.65 points, or 1.59%, last week, mirroring the overall positive momentum in equit ...

Core Insights - The combined market valuation of eight of the top-10 most valued firms increased by Rs 1,94,148.73 crore last week, driven by a positive trend in the stock market [7] - TCS emerged as the biggest gainer, adding Rs 45,678.35 crore to its market valuation, which reached Rs 10,95,701.62 crore [7] - The BSE benchmark index surged by 1,293.65 points or 1.59% during the same period [7] Company Valuations - HDFC Bank's market valuation surged by Rs 25,135.62 crore, reaching Rs 15,07,025.19 crore [7] - Infosys saw an increase of Rs 28,125.29 crore in its valuation, bringing it to Rs 6,29,080.22 crore [2][7] - Bharti Airtel's market valuation jumped by Rs 25,089.27 crore to Rs 11,05,980.35 crore [4][7] - Reliance Industries' market capitalisation climbed by Rs 25,035.08 crore to Rs 18,70,120.06 crore [5][7] - Bajaj Finance's market capitalisation rallied by Rs 21,187.56 crore to Rs 6,36,995.74 crore [7] - State Bank of India's valuation increased by Rs 12,645.94 crore to Rs 8,12,986.64 crore [7] - ICICI Bank's valuation rose by Rs 11,251.62 crore to Rs 9,86,367.47 crore [6][7] Declines in Valuation - The market capitalisation of LIC decreased by Rs 4,648.88 crore, resulting in a valuation of Rs 5,67,858.29 crore [6][7] - Hindustan Unilever's valuation declined by Rs 3,571.37 crore to Rs 5,94,235.13 crore [6][7]

Market Sentiment - The hedge fund Peconic Partners, managed by Bill Harnisch, has seen a 580% increase since 2020, outperforming the S&P 500 this year by tripling its returns [1][2] - Harnisch expresses concern over market volatility and potential negative impacts from external factors, indicating a sense of unease among investors [2][4] Economic Risks - President Trump's unexpected tariff threats against China have negatively impacted high-valuation assets, leading to significant market declines [3][4][7] - The ongoing US government shutdown is obscuring economic health and could further hinder growth by affecting federal employees' paychecks [4][10] Investment Trends - There are growing concerns regarding the sustainability of investments in artificial intelligence, with skepticism about whether current valuations can be justified [5][8][9] - Gold prices have surged, reaching over $4,000 per ounce, as investors seek safe-haven assets amid declining confidence in the US dollar [6] Market Corrections - The International Monetary Fund has compared the current market conditions to the dot-com era, warning of potential sharp corrections due to stretched valuations [9] - Recent performance of companies like Oracle Corp. highlights the risks associated with high expectations in the AI sector, as their stock experienced a significant drop following disappointing profit margin reports [9] Fund Strategies - Peconic Partners has maintained a conservative leverage strategy, focusing on long-term holdings in resilient sectors while betting against consumer-related stocks [15] - Harnisch emphasizes the importance of companies that generate free cash flow, indicating a preference for stability in uncertain economic conditions [16]

Together, the moves have shaken confidence in America, weakened the dollar and helped stoke a torrid rally in gold. While long-term Treasury yields haven’t exploded in any similar fashion, they’ve been elevated relative to recent years.Added to that is a growing sense of concern about political and fiscal stability in the world’s largest economy. Trump’s tax and spending bill is projected to blow out the deficit. The government has been shut down since the start of October, the president is increasingly thr ...

>> COMING TOWN SHOW. WE EXPLORE HOW A. I.COULD RESHAPE DEAL MAKING, TRANSFORM COMPETITION AND REDEFINE WHO WINS IN THE FINANCIAL SECTOR. WHAT’LL IT ALL MEAN FOR JOBS IN BANKING. WE EXPLORE HOW A.I. IS REWIRING HOW BANKS HIRE. THE ROLES THAT COULD BE EMPOWERED AND THOSE THAT RISK EXTENSION.AND FIN TECH GIANT KLARNA’S CEO TELLS ME WHY HE SEES LEGACY BANKS FALLING BEHIND AS A. I. CHANGES THE RULES.>> I WOULD ARGUE THE ODDS ARE PRETTY GOOD AT WINNING. THE A BIG MARKET SHARE. NOW THEY ARE WAKING UP TO FINISH TEC ...

Group 1 - The report utilizes a sectoral balance framework to evaluate the impact of fiscal and monetary dynamics on risk asset performance, highlighting the effects of cooling inflation, rising unemployment, and a potential policy shift by the Federal Reserve [1] - The analysis incorporates trading strategies in real estate, equity, and bond markets, leveraging fiscal flow analysis, functional finance, demographics, and the real estate cycle [1] - Key economic indicators are identified as G (Federal spending), P (Non-Federal Spending), X (Net Exports), and C (Credit), which can be used to derive accounting identities relevant to GDP and aggregate demand [1] Group 2 - The report suggests that an increase in the federal deficit leads to a rise in private surplus, which in turn positively influences risk asset markets [1]

Market Overview - Major indices including S&P 500, NASDAQ 100, and Russell 2000 reached all-time highs earlier in the week but experienced significant declines on Friday, with the NASDAQ dropping 3.5% and the S&P 500 falling 2.7%, marking its largest single-day drop since April [1][2] Sector Performance - Only utilities and staples sectors posted gains, while the energy sector fell nearly 4% due to crude oil prices hitting multi-month lows [2] Geopolitical Impact - President Trump's social media post on Friday indicated trade hostility from China regarding new rare earth mineral policies, which contributed to the market sell-off [2][3] - Trump threatened to impose massive tariffs against China, with current tariffs at 30%, down from a peak of 145% earlier in the year [3] Gold Market - Gold prices surged to new all-time highs, surpassing $4,000 an ounce, with a year-to-date increase of over 50% [3][4] Company Highlights - Nvidia reached record highs after receiving approval to export several billion dollars worth of AI chips to the UAE, although it closed the week down 2.4% [4][5] - AMD was a standout performer, rising 30% after securing a deal with OpenAI to supply 6 gigawatts of GPUs, with deployment starting in the second half of 2026 [5] Upcoming Earnings - Major banks such as JP Morgan Chase, Goldman Sachs, and Wells Fargo are set to report earnings, along with TSMC, United Airlines, JB Hunt, and Dollar Tree [6]

Market Overview - JPMorgan Chase CEO Jamie Dimon warned of a heightened risk of a significant Wall Street correction within the next six months to two years, citing high equity valuations as a contributing factor [1][10] - The S&P 500 index experienced a notable decline of 2.7% in one day, marking its worst performance since April, with the Dow Jones Industrial Average dropping 878 points (1.9%) and the Nasdaq composite falling 3.6% [9][10] - Approximately six out of every seven stocks within the S&P 500 fell, indicating widespread market weakness across various sectors, including Big Tech [2][10] Valuation Concerns - Critics argue that the market appears too expensive, with stock prices rising much faster than corporate profits, raising concerns particularly in the artificial intelligence sector, reminiscent of the 2000 dot-com bubble [5][10] - The S&P 500 had a nearly relentless 35% run from a low in April, leading to criticism that stock prices had shot too high, despite the index still being near its all-time high [4][9] Company-Specific Insights - Levi Strauss saw a significant drop of 12.6% in its stock price, despite reporting stronger-than-expected profits for the latest quarter, suggesting it may be facing challenges due to heightened expectations after a substantial year-to-date surge of nearly 42% [6][7][10]

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld, taking you through to that closing bell with a global simulcast. It starts now.Tim Stanley Back in the radio booth, Emily Rafale by his side and for Carol Massar today. Welcome to our audiences across all of our Bloomberg platforms, television and radio, our partnership with YouTube on a day where the market that rally got upended in a big way, a new, fresh social media post term center backed by t ...