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Stocks tread water with Dow aiming for 40,000

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Stocks Are Treading Water With Dow Pointing to 40,000

US stocks were little changed Friday afternoon with Wall Street pausing on the run towards bullish milestones as investors dithered over the odds for rate cuts.

The Dow Jones Industrial Average (^DJI) held steady on the heels of touching the key 40,000 level for the first time during Thursday’s trading. The S&P 500 (^GSPC) ticked just over the flatline while the tech-heavy Nasdaq Composite (^IXIC) slipped just underneath it, but all the gauges were on track for weekly wins.

The run-up in stocks hit a bump in the wake of comments from Fed officials warning that rates are likely to stay at historic highs for a while. That dampened enthusiasm for the likelihood of a September cut that had been lifted by encouraging inflation data.

Read more: How does the labor market affect inflation?

Friday’s light economic and corporate calendar leaves few jumping-off points for the Dow to make another go at crossing its key juncture, while the S&P 500 and Nasdaq have their own fresh records within reach.

That puts the spotlight on appearances by Fed officials. On Friday US Federal Reserve Governor Michelle Bowman reiterated her view that the central bank has not made progress this year on curbing inflation, she said in a speech in Nashville, Tennessee. Bowman said she is willing to raise rates again at a future meeting if incoming data shows further stalling.

Fed Chair Jerome Powell was scheduled to deliver remarks at Georgetown University’s Law School graduation this Sunday, but he will now be speaking through a pre-recorded video, after he tested positive for COVID-19, a central bank spokesperson said on Friday.

In individual movers, Reddit (RDDT) shares jumped 13%, not far off its highest close of $65.11 hit in March. The social media platform has signed a partnership with OpenAI that will see ChatGPT integrate content from its forums.

Meanwhile, GameStop (GME) shares sank over 25% after the games retailer said it expects first quarter sales to drop as shoppers shift to online outlets. Shares in the meme stock soared at the start of the week in an echo of the 2021 frenzy, but the rally has turned into a slide in recent days.

Live9 updates

  • Fri, May 17, 2024 at 8:10 PM GMT+2

    OpenAI reportedly disbands safety team

    OpenAI’s Superalignment team, a unit tasked with wrestling with the long-term risks of sophisticated AI systems has been effectively disbanded, according to multiple reports, following the departure of the team’s founders earlier this week.

    OpenAI is now spreading the team’s efforts to other parts of the company, Bloomberg reports. The move comes after a string of high profile exits and leaves open lingering questions about the AI company’s approach to safety and balancing its work to monetize AI initiatives.

    OpenAI co-founder and chief scientist, Ilya Sutskever, who had previously clashed with CEO Sam Altman, said he was leaving the company on Tuesday.

    The recent shakeups come after last year’s high profile ouster of Altman, who disagreed with members of the board over questions over how to safey advance AI. He was eventually reinstated.

    The superaligmmen team, which was stood up last July, was focused on ensuring the safety of highly capable AI systems that some believe could eventually outsmart humans. At the time OpenAI said it would dedicate 20% of its computer power towards the team’s work.

  • Fri, May 17, 2024 at 7:15 PM GMT+2

    Stocks trending in afternoon trading

    Here are some of the stocks leading Yahoo Finance’s trending tickers page during afternoon trading on Friday.

    GameStop (GME): Shares of the video game retailer sank more than 25% on Friday morning after the company filed to sell 45 million new shares of common stock and released preliminary financial results that revealed sales fell sharply from the year prior in its most recent quarter.

    Take-Two Interactive (TTWO): The video game developer that owns publishers Rockstar Games and 2k rose by 1% during afternoon trading after revealing that the long-awaited Grand Theft VI will be released in the fall of 2025. The company also disclosed that it expects net bookings for the fiscal year to come in at $5.55 billion to $5.65 billion, down from the $8 billion it previously projected, although some analysts said the updated launch date for the flagship title gives investors fresh clarity.

    Cracker Barrel: (CBRL) Shares of the Southern-themed restaurant and gift shop fell by 12% after the company cut its dividend plans by nearly 80%. The announcement comes as the chain switches its focus to upgrading the brand and physical locations.

    Reddit (RDDT): The forum-based social network gained more than 14% during morning trading following news of a partnership with OpenAI, the artificial intelligence company behind the popular ChatGPT. As part of the deal, OpenAI will become an advertising partner for Reddit and will give Reddit the ability to use OpenAI’s technology to build tools and features. In turn, ChatGPT will integrate Reddit’s content into its system.

  • Fri, May 17, 2024 at 6:32 PM GMT+2

    Stocks tread water in afternoon trading

    The major indexes are close to where they started in afternoon trading Friday, as Wall Street’s bid to push the Dow past 40,000 pauses, at least momentarily.

    The Dow Jones Industrial Average (^DJI) held just below the key milestone after touching the level for the first time during Thursday’s trading. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) slipped just under the flatline, but all the gauges were on track for weekly wins.

  • Fri, May 17, 2024 at 6:07 PM GMT+2

    Fed Chair Jay Powell tests positive for COVID-19

    Fed Chair Jerome Powell has tested positive for COVID-19, a central bank spokesperson disclosed on Friday.

    The spokesperson said Powell received the diagnosis Friday, saying he tested positive “late yesterday “and is experiencing symptoms.”

    The Fed noted that Powell would no longer be attending Georgetown University’s Law School graduation, where he was scheduled to deliver remarks in person this Sunday. Instead he will do so via a pre-recorded video.

    “Following Centers for Disease Control and Prevention guidance, he is staying away from others and working at home,” the Fed said in a statement. Powell has tested positive for the virus before, in 2023.

    WASHINGTON, DC - MAY 10: Federal Reserve Chair Jerome Powell departs after the conclusion of a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. The council received an update from the Financial Market Utilities Committee and an update on market developments related to corporate credit, as well as a presentation and to vote on a report on nonbank mortgage servicing. (Photo by Kent Nishimura/Getty Images)WASHINGTON, DC - MAY 10: Federal Reserve Chair Jerome Powell departs after the conclusion of a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. The council received an update from the Financial Market Utilities Committee and an update on market developments related to corporate credit, as well as a presentation and to vote on a report on nonbank mortgage servicing. (Photo by Kent Nishimura/Getty Images)

    Federal Reserve Chair Jerome Powell departs after the conclusion of a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. (Photo by Kent Nishimura/Getty Images) (Kent Nishimura via Getty Images)

  • Fri, May 17, 2024 at 5:49 PM GMT+2

    GameStop stock plunges on move to issue shares

    The 2024 mini meme stock rally is losing steam

    GameStop stock (GME) sank as much as 30% on Friday after the company filed to sell 45 million new shares of common stock and released preliminary financial results that showed sales fell sharply from the same period last year, Yahoo Finance’s Josh Schafer reports.

    The video game retailer said it expects sales to be in the range of $872 million-$892 million in its fiscal first quarter, down from $1.24 billion in the same period a year prior. Wall Street had expected revenue of just over $1 billion for the quarter, according to data from Bloomberg.

    With Friday’s decline, the stock is now below where it opened Monday morning after the reemergence of Keith Gill, also known as “Roaring Kitty,” on X, formerly Twitter, over the weekend.Gill’s bull case for GameStop ignited the meme stock rally back in 2021, and the stock more than doubled by Tuesday morning.

    “I’m not seeing anything in the preannouncement that tells me that the business is turning around,” Wedbush managing director Michael Pachter told Yahoo Finance. “But at least they’ll raise enough cash to last them another three or four years if they, in fact, continue to fail and try to find a new strategy.”

  • Fri, May 17, 2024 at 5:04 PM GMT+2

    Reddit’s stock surges after deal with OpenAI

    By signing a major partnership with OpenAI, the AI company behind ChatGPT, Reddit (RDDT) scored a major victory in its plans to sell its unique archive of posts to companies eager for troves of content to train their Large Language Models (LLMs).

    On Friday, shares of the forum based social media company rose more than 14%, as investors cheered on the deal. The partnership will bring Reddit content into ChatGPT and OpenAI’s new products, drawing from Reddit’s data to give the chatbot real-time content on recent topics.

    In turn, Reddit will receive AI-powered features for redditors and moderators, the company said in an announcement Thursday. OpenAI will also become an advertising partner on Reddit, boosting the company’s main source of revenue.

    “Reddit has become one of the internet’s largest open archives of authentic, relevant, and always up to date human conversations about anything and everything. Including it in ChatGPT upholds our belief in a connected internet, helps people find more of what they’re looking for, and helps new audiences find community on Reddit,” said Steve Huffman, Reddit co-founder and CEO.

    Reddit’s deal comes as other major media companies are striking deals with AI developers, trading their digitized bodies of language for guaranteed revenue.

  • Fri, May 17, 2024 at 4:15 PM GMT+2

    Stocks trending in morning trading

    Here are some of the stocks leading Yahoo Finance’s trending tickers page during morning trading on Friday.

    GameStop (GME): Shares of the video game retailer sank more than 25% on Friday morning after the company filed to sell 45 million new shares of common stock and released preliminary financial results that revealed sales fell sharply from the year prior in its most recent quarter.

    Reddit (RDDT): The forum-based social network gained more than 14% during morning trading following news of a partnership with OpenAI, the artificial intelligence company behind the popular ChatGPT. As part of the deal, OpenAI will become an advertising partner for Reddit and will give Reddit the ability to use OpenAI’s technology to build tools and features. In turn, ChatGPT will integrate Reddit’s content into its system.

    Robinhood (HOOD): The financial services company popular with retail stock traders rose 6% Friday morning following a double upgrade from Bank of America, from Underperform to Buy. Analysts pointed to rebounding retail engagement and a broader trend toward mobile trading that the young company stands to benefit from.

    Cracker Barrel (CBRL): Shares of the restaurant chain fell by nearly 15% after the company cut its dividend plans by nearly 80%. The announcement comes as the Southern-themed eatery and gift store switches its focus to upgrading its brand and physical locations.

  • Fri, May 17, 2024 at 3:33 PM GMT+2

    Stocks little changed as Dow reaches for 40,000

    The major indexes didn’t move much at the open Friday as Wall Street was poised for the Dow to make another attempt at surpassing a key milestone of 40,000.

    The Dow Jones Industrial Average (^DJI) held steady on the heels of touching the level for the first time during Thursday’s trading. The S&P 500 (^GSPC) rose 0.1% while the tech-heavy Nasdaq Composite (^IXIC) also gained 0.1%, with all the gauges on track for positive ends to the week.

  • Fri, May 17, 2024 at 12:30 PM GMT+2

    Reddit stock pops premarket on OpenAI deal

    Reddit stock (RDDT) is up 14% premarket on a new deal with OpenAI whereby OpenAI will gain access to Reddit’s data to help build out its models.

    This deal shouldn’t come as a surprise to Reddit investors — the company recently struck a similar deal with Alphabet (GOOGL). Reddit co-founder and CEO Steve Huffman told me last week that more deals like this are likely as part of the platform’s reinvention.

    Look for a new user interface later this year.

    Watch below.

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We are the editorial team of FinCrypto, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypto, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Breakfast on Wall Street: The Week Ahead

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Wall Street Breakfast profile picture

The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).

The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.

In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.

Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.

Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.

Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.

Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.

Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.

IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.

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Trump shooting: Gold could hit record high, dollar and cryptocurrencies set to jump

FinCrypto Staff

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Police cars outside the residence of Thomas Matthew Crooks, the alleged shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. In the aftermath of the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being killed by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.

“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”

Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.

An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.

Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.

Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.

Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.

“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.

Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.

But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.

Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.

“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”

Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.

“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”

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Latest Business News Live Updates Today, July 11, 2024

FinCrypto Staff

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Latest Business News Live Updates Today, July 11, 2024

Follow us for stories on Bill Gates, Elon Musk, Mukesh Ambani, Gautam Adani as we bring you everything that’s happening in the business world. Follow the latest gold and silver prices here too. Stay in the know on all things business with us.

Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.

Follow all the updates here:

  • Thu, 11 Jul 2024 08:44 PM

    Business News LIVE Updates: Decoding Airtel’s new Xstream Fiber packages, finding value with Live TV and OTT

    • Airtel confirms to HT that the live TV proposition is being delivered using its DTH network, while the bundled streaming subscriptions are an extension of its Xstream Play platform.

    Read the full story here

  • Thu, 11 Jul 2024 03:58 PM

    Business News LIVE Updates: TCS Q1 results meet estimates: Net profit up 9%, ₹10 dividend declared

    • TCS’s consolidated revenue rose 5.4% to Rs 626.13 billion in the June quarter. Analysts had expected revenue of Rs 622.07 billion, as per LSEG data.

    Read the full story here

  • Thu, 11 Jul 2024 03:51 PM

    Business News LIVE Updates: Indian companies falsified generic Viagra data to get approval, says US FDA: Report

    • Synapse Labs Pvt. Ltd may have been used in hundreds of drugs that are still available for sale, the report said.

    Read the full story here

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  • Thu, 11 Jul 2024 03:09 PM

    LIVE Business News Updates: Namita Thapar’s emotional post on Emcure IPO listing: ‘Mirza Ghalib sums up my feelings’

    • Emcure Pharmaceuticals was listed at ₹1,325.05, up 31.45% on the BSE and NSE on July 10.

    Read the full story here

  • Thu, 11 Jul 2024 02:39 PM

    LIVE business news updates: Amazon could face investigation over treatment of UK food suppliers, watchdog says

    • An Amazon spokesperson said the company has made several improvements for food suppliers since last year’s results.

    Read the full story here

  • Thu, 11 Jul 2024 01:39 PM

    LIVE Business News Updates: This Bengaluru company aims to launch a ‘space habitat’ by 2027, in talks with SpaceX

    • AkashaLabdhi calls itself a “home among the stars” as it says the company’s area of ​​expertise is signal processing and continuous automation.

    Read the full story here

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  • Thu, 11 Jul 2024 01:10 PM

    Business News LIVE Updates: Amazon India employees on working conditions: Made to stand for hours, bathroom breaks not allowed

    • A survey conducted by UNI Global Union with the Amazon India Workers Association had 1,838 participants who alleged appalling working conditions at Amazon facilities in India.

    Read the full story here

  • Thu, 11 Jul 2024 12:44 PM

    LIVE Business News Updates: UK overhauls listing rules in bid to attract IPOs to London: What has changed?

    • The new rules allow companies to carry out more activities without putting them to a shareholder vote, the UK’s Financial Conduct Authority said.

    Read the full story here

  • Thu, 11 Jul 2024 12:18 PM

    Business News LIVE Updates: Want to send money abroad? Open foreign currency accounts at GIFT City

    • Foreign currency accounts will be like a bank account in India, but instead of rupees, you hold foreign currency like US dollars.

    Read the full story here

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  • Thu, 11 Jul 2024 11:30 AM

    Business News LIVE Updates: First Abu Dhabi Bank denies interest in acquiring stake in Yes Bank: Report

    • The report said the Yes Bank stake sale has attracted interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.

    Read the full story here

  • Thu, 11 Jul 2024 11:04 AM

    LIVE Business News Updates: TCS Share Price Surges Ahead of Q1 Results: What Brokers Say About the Stock

    • TCS Share Price: The stock opened at ₹3,944.65 against its previous close of ₹3,909.90. It then rose 1.8 percent to ₹3,979.90 level.

    Read the full story here

  • Thu, 11 Jul 2024 10:22 AM

    LIVE Business News Updates: Reliance Jio IPO listing likely in 2025 at $112 billion valuation: Jefferies

    • Jio “could list at a valuation of $112 billion” and add “7-15 percent upside” to Reliance Industries’ share price, Jefferies said.

    Read the full story here

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  • Thu, 11 Jul 2024 09:42 AM

    LIVE Business News Updates: Yes Bank shares rise after Moody’s revises outlook to ‘positive’ from ‘stable’

    • Global rating agency Moody’s has raised its outlook on Yes Bank to positive from “stable” despite expectations of a gradual improvement in its depositor base.

    Read the full story here

  • Thu, 11 Jul 2024 09:16 AM

    Business News LIVE Updates: Sahaj Solar IPO opens today: All you need to know before subscribing to the issue

    • Sahaj Solar IPO: The block issue aims to raise ₹52.56 crore through issuance of 2.92 million new shares and will close on July 15.

    Read the full story here

  • Thu, 11 Jul 2024 08:40 AM

    LIVE Business News Updates: Why Analysts Believe India’s Earnings Season May Disappoint Stock Market Investors

    • Investors in Indian stocks hoping for a robust earnings season to justify expensive valuations are likely to be disappointed.

    Read the full story here

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  • Thu, 11 Jul 2024 08:35 AM

    LIVE Business News Updates: Elon Musk Says Second Neuralink Brain Implant Will ‘Give People Superpowers’ Within a Week

    • Elon Musk said Neuralink will make some changes to try to alleviate the problem of its electrode wires retracting from brain tissue.

    Read the full story here

  • Thu, 11 Jul 2024 07:59 AM

    LIVE Business News Updates: Apple warns Indian iPhone users of possible Pegasus-like ‘spyware attack’

    • In April this year, the Indian Computer Emergency Response Team (Cert-In) flagged several vulnerabilities in Apple’s operating system for iPhone and iPad.

    Read the full story here

  • Thu, 11 Jul 2024 07:45 AM

    Business News LIVE Updates: US stock markets at record highs led by world’s biggest tech companies

    • The Philadelphia Semiconductor Index rose 2.4% to a record high after Taiwan Semiconductor Manufacturing Co. reported strong quarterly revenue.

    Read the full story here

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News / Business / Latest Business News Live Updates Today, July 11, 2024

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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

FinCrypto Staff

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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.

Jio Financial Services News

Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”

“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.

Jio Financial Stock Target Price

Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”

On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.

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