Market Bizzz

The number of Americans filing new claims for jobless benefits increased moderately last week, data showed on Thursday, with the so-called continuing claims rising to a 10-month high in late November, adding to fears that the world’s largest economy may enter a recession next year.

Oil prices are set to post their biggest weekly drop in months, since traders expect it will be months before the benefits of China easing COVID controls feeds through to demand.

Shares of BLS International will trade ex-bonus in the ratio of 1:1. The record date for the same is December 10, 2022. EFC (I)’s board will meet today to consider the conversion of 95,500 convertible warrants into equity shares on a preferential basis to the promoter.

Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research, recommends investors should do with these stocks when the market resumes trading today:

While U.S. crude stocks fell last week, gasoline and distillate inventories surged, adding to concerns about easing demand. Gasoline stocks grew by 5.3 million barrels in the week to 219.1 million barrels, and distillate stockpiles, including diesel and heating oil, swelled by 6.2 million barrels, the EIA said.

Data released on Monday showing U.S. services industry activity unexpectedly picked up in November and last week’s robust U.S. payrolls report raised doubts about how soon the Fed might ease monetary policy.

However, it later reversed course as the Institute for Supply Management’s (ISM) non-manufacturing PMI unexpectedly rose, indicating the services sector, which accounts for more than two-thirds of U.S. economic activity, remained resilient.