#850 Daily Money Show | Money Purse Stock Market News

54.6K views · Jul 10, 2024 · 17:22 min · Watch on YouTube ↗

Takeaway

Powell's hawkish congressional testimony delayed rate-cut clarity and pressured Indian markets across the session.

Summary

Sensex down 426 points to 79,924; Nifty -108 to 24,324; mid-cap -0.28%, small-cap -0.67%, Bank Nifty -0.72%.
Fed Chair Jerome Powell addressed Congress refusing to commit on rate cuts; inflation still above 2% target.
Powell warned that prolonged high rates could hurt economic growth; analysts expect September rate cut.
Broad market pressure from morning session in India following Powell's comments.

fed-powellrate-cutsmarket-update

Original description

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