5 Things to Know Before the Stock Market Opens

Category: Finance

Walt Disney Co. reported strong third-quarter results, surpassing revenue and profit expectations, driven by successful box office releases and profitability in its streaming segment. Novo Nordisk shares fell after missing revenue forecasts and cutting its profit outlook due to supply constraints. CVS Health also saw a decline in shares after lowering its earnings guidance amid rising medical costs. Global markets rallied following the Bank of Japan's decision to maintain interest rates amid volatility. Super Micro Computer's shares dropped significantly after disappointing earnings and a light profit forecast.

Keywords: Walt Disney, Novo Nordisk, CVS Health, Bank of Japan, Super Micro Computer

Source: Investopedia

Update At: 8/7/2024

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Income Tax Slabs 2024-25 Budget 2024 Live Updates: Income Tax rates, slabs and new tax regime to see changes? Standard deduction, basic exemption hike also expected

Taxpayers are facing increased tax burdens due to outdated income tax brackets and complex capital gains taxation rules. The old tax regime imposes excess taxes on incomes over Rs 5 lakh, while the new regime raises the threshold to Rs 15 lakh. Additionally, the Tax Collected at Source (TCS) rules under the Liberalised Remittance Scheme (LRS) are causing liquidity issues for individuals. There is a pressing need for the government to simplify these tax regulations to alleviate confusion and financial strain on taxpayers.

Times of India

Union Budget 2024 | From fiscal deficit to income tax – Here’s your quick guide to Nirmala Sitharaman’s Budget for India

Finance Minister Nirmala Sitharaman presented her 7th consecutive Union Budget, outlining key fiscal strategies and initiatives aimed at economic growth, infrastructure development, and social welfare. The budget includes measures to reduce fiscal deficit, enhance technology adoption, and support various sectors including agriculture, education, and tourism.

Deccan Herald

Budget 2024 Live Updates: Nirmala Sitharaman's record seventh Budget today

Nirmala Sitharaman presents the Union Budget 2024-25, marking her seventh consecutive budget as finance minister. The budget focuses on income tax relief for the middle class, capital expenditure, and initiatives for youth employment and skilling. Key highlights include a ₹10 lakh crore investment in urban housing, free electricity for 1 crore households under a solar panel scheme, and significant allocations for education and employment. The budget aims to address inflation, job uncertainties, and promote economic growth while ensuring financial stability.

Hindustan Times

Watch These CrowdStrike Price Levels as Stock Continues Falling After Outage

CrowdStrike's shares fell over 13% following a global tech outage caused by a software update, marking a 23% loss over two sessions. The stock has shown weakness after closing below key moving averages, with significant trading volume indicating strong selling pressure. Key support levels to watch include $261, $212, $190, and $172, where potential buying interest may emerge as the stock continues to decline.

Investopedia

Budget 2024 Live Updates: FM announces revised rate slabs under new tax regime

FM Nirmala Sitharaman makes history by presenting her 7th consecutive Budget speech, surpassing Morarji Desai's record of 6 consecutive budgets.

mint

Budget for world's fastest-growing economy: Key numbers to be watched

The budgeted fiscal deficit for the current year is projected at 5.1%, down from 5.6% last year, with a target of 4.5% by FY26. Capital expenditure is set at Rs 11.1 lakh crore, up from Rs 9.5 lakh crore. Gross tax revenue is expected to grow by 11.46% to Rs 38.31 lakh crore, with GST collections estimated at Rs 10.68 lakh crore. The government's gross borrowing is pegged at Rs 14.13 lakh crore. India's nominal GDP growth is estimated at 10.5%, with real GDP growth projected at 7.2%. Finance Minister Nirmala Sitharaman will present her 7th budget, focusing on tax relief for the middle class and fiscal discipline.

The Economic Times

Nirmala Sitharaman opts for white and magenta saree for Budget 2024 presentation - Times of India

Nirmala Sitharaman's saree choices for her Union Budget presentations have become a significant point of public interest. For her seventh presentation, she wore a white silk saree with a magenta border and golden motifs. Her previous saree selections include a blue handloom saree, a bright pink Mangalgiri saree, and a vibrant yellow-gold silk saree, each symbolizing various themes and cultural significance. This year, she aims to surpass Moraji Desai's record by delivering her seventh consecutive budget, focusing on income tax changes and improving business conditions in India.

Times of India

Union Budget 2024: FM Nirmala Sitharaman and Team Arrives at Parliament with Budget Tablet |Oneindia

Finance Minister Nirmala Sitharaman and her team arrived at Parliament with the budget tablet for the Union Budget 2024.

News-Topic

Budget 2024: Andhra Pradesh-linked stocks NCC, KCP and 4 others gain up to 6% – here’s why | Stock Market News

Stocks in Andhra Pradesh are gaining attention after the Union Budget 2024 allocated significant funds to the state, with a focus on infrastructure and development projects. Companies like NCC and KCP saw notable share price increases. The budget also includes provisions for other states, with the government emphasizing commitments to industrial development and essential infrastructure.

mint

Budget 2024 Explained Live Updates: LTCG tax hiked from 10 per cent to 12.5 per, amid jump in equity investments

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024, highlighting significant announcements for Andhra Pradesh and Bihar, a hike in Long Term Capital Gains tax from 10% to 12.5%, and new schemes for tribal communities and MSMEs. The budget outlines the government's financial health, including revenue generation and expenditure plans, which directly affect citizens' lives.

The Indian Express