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Daily Money Show Ep-1302 - Stock Market News
Original: Ep-1302 | stock market news #dailymoneyshow
Takeaway
Markets and gold rallied on US-Iran 14-point peace-pact hopes, but the AI-driven layoff wave at Cognizant, Coinbase and Freshworks signals lasting IT-sector pain.
Summary
- Sensex +940 to 77,958, Nifty +298 to 24,330; Bank Nifty +2.63% after Trump suspends Project Freedom and reports of a 14-point US-Iran agreement to pause war for a month.
- If ceasefire holds, crude oil prices fall, easing inflation pressure on central banks - both equities and gold rallied today.
- AI job cuts surging: Cognizant globally cutting 12,000-15,000 jobs including India; Coinbase trimming 14% of workforce; Freshworks announcing 500 job cuts via AI automation.
- Companies are cutting workforce to improve bottom lines after war-driven cost pressures - IT sector most exposed.
US-Iran ceasefireAI layoffsCognizant
Original description
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