US stocks climbed on Thursday as oil prices surged amid Russia sanctions and as Wall Street parsed through a fresh batch of quarterly results after Tesla (TSLA) and IBM (IBM) earnings fell short. The tech-heavy Nasdaq Composite (^IXIC) led the gains, rising 0.7%, while the S&P 500 (^GSPC) added 0.4%. The Dow Jones Industrial Average (^DJI) drifted 0.1% higher. Oil futures spiked around 6% after the US placed sanctions on Russia's giant producers, piling pressure on President Putin to end the war in Ukra ...

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Wednesday.The Dow traded down 0.46% to 46,709.81 while the NASDAQ fell 1.22% to 22,674.38. The S&P 500 also fell, dropping, 0.62% to 6,693.83.Check This Out: Top 3 Industrials Stocks That May Rocket Higher In Q4Leading and Lagging SectorsHealth care shares jumped by 0.9% on Wednesday.In trading on Wednesday, consumer discretionary stocks fell by 1.1%.Top HeadlineAT&T Inc. (NYSE:T) shares fell around 3% on Wedn ...

Core Insights - The article discusses Andrew Ross Sorkin's new book "1929," which explores the events leading to the Great Crash of 1929 and its cultural impact on society [1][2][17] - The narrative highlights how the stock market dominated the culture of the time, with widespread participation from various social classes, including billionaires and everyday citizens [3][4][5] Group 1: Cultural Impact and Participation - The stock market was a central aspect of American culture in 1929, with significant involvement from the elite and the general public [3][4] - The book illustrates that many prominent figures, including Groucho Marx, were heavily affected by the market's downturn, showcasing the widespread nature of the crisis [4][14] - The optimism of the era was fueled by technological advancements, leading to a belief that capitalism could elevate everyone to millionaire status [5][6] Group 2: Key Figures and Their Roles - Charlie Mitchell, a significant figure in the financial landscape, promoted the idea of democratizing finance and was instrumental in the creation of modern credit systems [7][10] - Contrasting views emerged from various financial leaders, with some, like Charles Merrill, advising caution as early as 1928, while others believed the market was stable [9][11] - The book details the actions and decisions of influential figures during the crash, including Carter Glass, who warned against the practices that led to the financial collapse [10][12] Group 3: Market Dynamics and Policy Responses - The article emphasizes that the market's decline was not a singular event but a series of failures and poor policy decisions that followed the crash [13][16] - By the end of 1929, the stock market was only down 17%, indicating that the initial impact was not as severe as commonly perceived [13] - The lack of regulatory frameworks at the time, such as the absence of the SEC, contributed to the chaotic trading environment [15][16]

Core Insights - T-Mobile has launched new capabilities, Edge Control and T-Platform, to enhance business connectivity and support real-time data operations, AI, and innovation [1][10] Group 1: New Capabilities - Edge Control combines 5G Advanced and local breakout technologies to provide private network-level performance without complex deployments, benefiting industries like healthcare, manufacturing, logistics, and smart cities [2] - T-Platform serves as a centralized management hub, unifying T-Mobile for Business solutions into a single interface, offering real-time visibility and control over connected ecosystems [6] Group 2: Industry Impact - In healthcare, the use of predictive AI integrated with electronic health records has increased from 66% in 2023 to 71% in 2024, highlighting the need for reliable connectivity to support real-time data processing [3] - Edge Control allows organizations to process data within existing infrastructures, enhancing control and compliance flexibility while maintaining low latency and data sovereignty [4] Group 3: Competitive Position - T-Mobile's 5G network covers 98% of Americans, or 330 million people, providing a competitive edge with its 2.5 GHz spectrum that offers extensive coverage and fast speeds [8] - Despite its leadership in the 5G market, T-Mobile faces competitive pressures and challenges related to spectrum management and high debt burdens [9]

Core Points - The benchmark stock indices Sensex and Nifty ended slightly higher during the special one-hour Muhurat trading session, marking the beginning of the new Samvat Year 2082 positively amid strong global cues [1][4] - The BSE Sensex rose by 62.97 points (0.07%) to close at 84,426.34, while the NSE Nifty increased by 25.45 points (0.10%) to close at 25,868.60 [3][4] - In the previous Samvat Year 2081, the BSE Sensex increased by 4,974.31 points (6.26%) and the Nifty climbed by 1,637.8 points (6.76%) [5] Market Performance - During the Muhurat trading session, the BSE Sensex reached a high of 84,665.44 and a low of 84,286.40 [3] - Among the major gainers in the Sensex, Bajaj Finserv rose by 1.42%, followed by Axis Bank (0.80%), Infosys (0.72%), and others [7] - The broader markets also advanced, with BSE Midcap rising by 0.23% (106.95 points) to close at 46,787.20 and BSE SmallCap gaining 0.91% (486.81 points) to settle at 53,842.85 [8] Sector Performance - Sectoral indices showed positive movement, with Industrials rising by 0.53%, Telecommunication by 0.51%, and Commodities by 0.47% [8] - Conversely, Bankex and Realty sectors ended marginally lower [10] Institutional Activity - Foreign Institutional Investors (FIIs) purchased equities worth ₹790.45 crore, while Domestic Institutional Investors (DIIs) acquired shares worth ₹2,485.46 crore, indicating strong domestic buying [10]

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Market Performance - Equity benchmark indices Sensex and Nifty ended higher on October 20, 2025, marking the fourth consecutive day of gains, driven by buying in blue-chip Reliance Industries and sustained foreign fund inflows [1][5] - The 30-share BSE Sensex increased by 411.18 points or 0.49% to settle at 84,363.37, with an intraday high of 84,656.56, a jump of 704.37 points or 0.83% [1] - The 50-share NSE Nifty surged by 133.30 points or 0.52% to reach 25,843.15 [1] Company Performance - Reliance Industries saw a rise of 3.52% after reporting a 9.6% year-on-year increase in net profit for the September quarter, attributed to strong performance in its retail and telecom sectors, along with a recovery in its oil-to-chemicals segment [2] - Other gainers included Bajaj Finserv, Axis Bank, State Bank of India, Tata Consultancy Services, Titan, and Bharti Airtel [2] Foreign and Domestic Investment - Foreign Institutional Investors (FIIs) purchased equities worth ₹308.98 crore, while Domestic Institutional Investors (DIIs) bought stocks worth ₹1,526.61 crore on the same day [4] Global Market Influence - A sharp rally in global markets contributed to the optimism in the Indian markets, with Asian markets such as South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng all closing higher [3] - European markets were also trading positively, and U.S. markets ended in positive territory on the preceding Friday [3] Upcoming Events - The Indian market is expected to continue its upward trend with a special Muhurat trading session scheduled for Tuesday, which will be held between 1:45 p.m. and 2:45 p.m. [6]

Core Viewpoint - Brookfield Corporation is positioning itself to capitalize on the significant investment opportunity in AI infrastructure, estimating a need for $7 trillion in related investments over the next decade [1][5]. Investment Strategy - The company plans to invest heavily across all aspects of AI infrastructure development, including data centers and renewable power, to ensure robust growth and strong returns [2][11]. - Brookfield aims to leverage its expertise in real estate, infrastructure, power, and capital solutions to support the buildout of AI infrastructure [11]. Infrastructure Requirements - AI technology requires specialized infrastructure, including data centers equipped with GPUs, CPUs, and advanced cooling systems, necessitating substantial capital investment [4][5]. - The estimated spending on AI infrastructure is projected to exceed $1 trillion by the end of 2029, with hyperscalers increasing their capital expenditures by 50% to $400 billion this year due to the high computing power demands of AI workloads [5]. Brookfield's Capabilities - Brookfield Infrastructure has a global data infrastructure platform with investments in over 300,000 telecom towers, two semiconductor manufacturing foundries, and more than 140 operating data centers with over 1.7 gigawatts of contracted capacity [7]. - The company has the potential to develop an additional 3.6 gigawatts of data center capacity, representing a 50% increase from its current development potential [7]. Renewable Energy Contributions - Brookfield Renewable is becoming a key partner in supplying renewable energy to support AI infrastructure, with significant agreements with major tech companies like Google and Microsoft for carbon-free power [8]. - The company signed a hydro framework agreement with Google to potentially supply up to 3 gigawatts of hydropower and a corporate power deal with Microsoft to deliver 10.5 gigawatts of renewable power by 2030 [8]. Future Growth Potential - Brookfield Corporation sees the potential to invest $200 billion in building AI factories across North America and Europe, believing that AI infrastructure will become the largest business within its platform [9]. - The company anticipates achieving 25% annualized earnings-per-share growth over the next five years due to its investments in AI infrastructure [10].

Summary of Key Points from the Conference Call Industry Overview - The report primarily discusses the **Chinese market** and its economic indicators, particularly in the context of ongoing trade tensions with the United States. The **MXCN/CSI300** indices experienced declines of **4.1%** and **2.2%** respectively, influenced by threats of additional tariffs from President Trump on Chinese goods starting November 1 [1][2][3]. Core Insights and Arguments - **Trade Relations**: President Trump has threatened a **100% tariff** on Chinese goods, which has led to market volatility. This is in response to China's export controls on rare earth materials [1]. - **Economic Indicators**: - **Trade Growth**: September trade growth exceeded expectations, with exports and imports increasing by **8.3%** and **7.4%** year-over-year respectively [1]. - **PPI and CPI**: Producer Price Index (PPI) deflation eased, while Consumer Price Index (CPI) deflation continued, particularly due to food prices [1]. - **Investment Flows**: There were significant inflows into the Southbound Connect, totaling **US$156 billion** year-to-date [5]. - **Future Meetings**: A meeting between President Trump and President Xi is scheduled, which may influence future trade policies [1]. Earnings and Valuations - **Market Performance**: - Offshore financials outperformed with a **4.1%** increase, while IT sectors lagged with a **7.8%** decline [2]. - A-share performance showed energy sectors outperforming with a **6.2%** increase, while IT and growth sectors lagged [3]. - **Earnings Forecasts**: The forward price-to-earnings ratios for MXCN and CSI300 are **12.9x** and **14.4x** respectively, with consensus EPS growth estimates for 2025/26 at **1%/16%** for MXCN and **15%/13%** for CSI300 [9]. Policy and Regulatory Environment - The Ministry of Commerce indicated that new policies to stabilize foreign trade will be introduced [1]. - The **14th Five-Year Plan** discussions are anticipated in the upcoming 4th Plenary Session, which may impact future economic strategies [1]. Additional Insights - **Sector Performance**: Historical data indicates that sectors such as energy and materials typically outperform following announcements of Five-Year Plans [12][13]. - **Investor Sentiment**: The report suggests that retail sentiment in A-shares is not overly stretched compared to previous periods of strong sentiment [32]. - **Market Strategy**: The report indicates a modest outperformance of A-shares over H-shares in the next three months based on proprietary models [23]. Conclusion - The current economic landscape in China is heavily influenced by trade tensions with the U.S., with significant implications for market performance and sectoral growth. Investors are advised to monitor upcoming policy announcements and trade negotiations closely, as these will likely shape the investment climate in the near term.

Investment Rating - The report indicates a positive investment sentiment with a focus on buying the dip in US equities, particularly in single stocks, which saw significant inflows [9][18]. Core Insights - Institutional and retail clients were net buyers of US equities, with a notable $4.1 billion inflow into single stocks, marking the fifth highest weekly inflow since 2008 [9][18]. - The report highlights a shift back to large-cap stocks, with inflows observed across all market cap sizes, particularly in Communication Services and Health Care sectors [9][18]. - Hedge funds continued to sell US equities for the fifth consecutive week, contrasting with the buying behavior of institutional and retail clients [9][18]. Summary by Sections Client Flows - Institutional clients led the buying activity, marking the largest weekly inflow since November 2022, while retail clients also participated after a period of selling [9][18]. - Hedge funds were the largest net sellers, with cumulative flows showing a significant outflow trend [5][22]. Sector Performance - Inflows were recorded across all 11 sectors, with Communication Services and Health Care leading the way, alongside notable inflows in the Energy sector [9][18]. - The report notes that clients sold equity ETFs for a second week, with outflows primarily from Tech and Materials sectors, while defensive sectors like Health Care and Real Estate saw inflows [9][18]. Size Segmentation - All market cap segments (large, mid, small) experienced inflows, with small caps showing resilience with inflows in five of the last seven weeks [9][18]. - The report indicates a preference for small-cap and value ETFs, contrasting with the outflows from large and mid-cap ETFs [9][18]. Corporate Buybacks - Corporate buybacks have slowed but are expected to pick up during the earnings season, with a focus on Tech and Financials dominating the buyback activity over the last three months [9][18].