As the new week begins, crude oil prices are edging higher after Iran ruled out talks to extend the memorandum of understanding with the US. In the US…
1/7US Markets | The S&P 500 was largely unchanged on Monday, as investor optimism over artificial intelligence was offset by concerns over tensions in the Middle East. The broad-market index slipped 0.1%, while the Nasdaq Composite hovered around the flatline. The Dow Jones Industrial Average fell 156 points, or 0.3%.
2/7Crude oil | Crude oil prices edged higher on Monday after Iran ruled out talks to extend the memorandum of understanding with the US. A senior Iranian official told Reuters that Tehran would shift to an offensive approach rather than relying on defence if diplomacy with Washington fails. US crude oil futures rose 0.76% to $83.03 per barrel, while Brent crude, the international benchmark, gained 0.92% to $89.33 per barrel.
3/7US Economic Data | Tomorrow, the US will release July Housing Starts and Building Permits data at 6:00 PM IST. The Business Leaders Survey, Pending Home Sales and Industrial Production data will be released at 6:45 PM IST.
4/7Electronics Component Manufacturing Scheme | The Indian government has approved 31 investment proposals worth ₹7,877 crore under the Electronics Component Manufacturing Scheme (ECMS), with the approved investments expected to generate production worth ₹82,243 crore. With the latest approvals, announced on Monday, August 17, total investments approved under the ECMS have reached ₹69,548 crore, exceeding the scheme’s initial investment target of ₹59,350 crore. Expected production from the approved investments has reached ₹5.34 lakh crore, compared with the original target of ₹4.56 lakh crore.
5/7Multiplex Operators | Delhi is ending the old maze of multiple NOCs for cinema halls and multiplexes, with the government notifying a new Standard Operating Procedure (SOP) that introduces a single-window, fully online licensing system. Under the new system announced on Monday, August 17, applications for cinema halls and multiplexes will be processed through the e-District portal. The earlier process of approaching multiple departments separately will be replaced with a coordinated inspection, fixed timelines and a single integrated decision, the Delhi government said.
6/7Global earnings | Home Depot, Toll Brothers, Baidu, Amer Sports, Klarna, Cochlear, BHP, CSL, Breville, Ping An Good Doctor, Pony AI, Xiaomi, Hesai, Guotai Junan, and Wistron are scheduled to report their earnings tomorrow.
7/7Annual General Meeting | Tata Sons will hold its 108th Annual General Meeting (AGM) tomorrow.
