Consumer setinment rises less than expected
Is inflation transitory? Experts weigh in on the answer
Bianco Research President Jim Bianco, B. Riley National chief market strategist Art Hogan and Kaltbaum Capital Management President Gary Kaltbaum weigh in on the Federal Reserve, inflation and today’s economic and market trends.
Consumer sentiment rose less than expected in September.
The preliminary reading of the University of Michigan consumer sentiment index, which is considered one of the most up-to-date assessments of the U.S. economy, rose 0.7 points in September to 71.0. Economists surveyed by Refinitiv were expecting an increase to 72.0.
The current conditions index fell 1.4 points to 77.1. The expectations index jumped 2 points to 67.1.
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TVS presents its new Raider 125
TVS has launched its new 124cc commuter, the Raider 125. The price for the drum-brake variant start at ₹ 77,500, while the disc brake-equipped variant, comes at ₹ 85,469 (All prices ex-showroom, Delhi).
Sporty styling elements are among the main aspects buyers look for in this space and TVS has delivered. The funky headlight, muscular tank, sharp belly-pan and split-seat set up are the major takeaways when it comes to design. The minimalist LED tail-light is also unique.
Powering the Raider 125 is a 124.8cc, fuel injected, air-cooled engine making 11.4hp and 11.2Nm of of torque at 6,000rpm. The unit is paired with a five-speed gearbox and has a claimed fuel efficiency figure of 67kpl.
Suspension duty is handled by a telescopic fork and a monoshock. The latter is gas-charged and offers five steps of preload adjustment. Braking, meanwhile, is carried out by a 240mm disc up front and a 130mm drum at the rear on the more expensive variant. The bike comes equipped with 17-inch alloy wheels at both ends.
The Raider 125 comes equipped with a fully digital instrument cluster. It has all the basic readouts you expect from a motorcycle in this segment and a gear position indicator. The company has also said there will be an optional TFT screen featuring Bluetooth connectivity in a few months. The right-hand side switchgear allows you to toggle between Eco and Power modes. There is also has storage space located under the pillion seat.
AstraZeneca: Enhertu Triples Progression-free Survival In Phase III DESTINY-Breast03 Trial
AstraZeneca (AZN.L,AZN) said detailed positive results from the head-to-head DESTINY-Breast03 Phase III trial showed that Enhertu showed superior progression-free survival compared to trastuzumab emtansine in patients with HER2-positive metastatic breast cancer. At a prespecified interim analysis of DESTINY-Breast03, Enhertu showed a 72% reduction in the risk of disease progression or death compared to trastuzumab emtansine. The safety profile of the most common adverse events with Enhertu in DESTINY-Breast03 was consistent with previous clinical trials.
Susan Galbraith, Executive Vice President, Oncology R&D, said: “Today’s results are ground-breaking. Enhertu tripled progression-free survival as assessed by investigators, and provided a disease control rate exceeding 95% compared to 77% for T-DM1 in DESTINY-Breast03.”
Enhertu is a HER2-directed antibody drug conjugate, designed using Daiichi Sankyo’s (DSKYF.PK) DXd ADC technology. Daiichi Sankyo and AstraZeneca entered into a global collaboration to jointly develop and commercialise Enhertu in March 2019. Daiichi Sankyo is responsible for manufacturing and supply of Enhertu.
Pre-market Movers: ITMR, FAMI, VALN, CYRN, LPTX…
The following are some of the stocks making big moves in Monday’s pre-market trading (as of 5.45 A.M. EDT).
In the Green
Itamar Medical Ltd. (ITMR) is up over 42% at $29.51
Cyren Ltd. (CYRN) is up over 28% at $0.77
Leap Therapeutics, Inc. (LPTX) is up over 22% at $1.79
Grupo Supervielle S.A. (SUPV) is up over 18% at $2.93
Grupo Financiero Galicia S.A. (GGAL) is up over 17% at $12.37
Hepion Pharmaceuticals, Inc. (HEPA) is up over 16% at $1.94
Central Puerto S.A. (CEPU) is up over 11% at $3
Document Security Systems, Inc. (DSS) is up over 11% at $1.51
Aterian, Inc. (ATER) is up over 11% at $13.15
Uranium Royalty Corp. (UROY) is up over 10% at $3.85
Banco Macro S.A. (BMA) is up over 8% at $19.80
In the Red
Farmmi, Inc. (FAMI) is down over 33% at $0.38
Valneva SE (VALN) is down over 33% at $31.01
U.S. Well Services, Inc. (USWS) is down over 13% at $0.66
Dynavax Technologies Corporation (DVAX) is down over 13% at $15.10
China XD Plastics Company Limited (CXDC) is down over 8% at $0.50
Facility to deepen corporate bond market on anvil: official
‘Purchase of investment-grade debt will get a boost’
In a bid to deepen the corporate bond market, the government is working on setting up a ‘backstop facility’ as announced in the Budget, a senior government official said on Friday.
Speaking at an event organised by CII, Additional Secretary, Ministry of Finance, Anand Mohan Bajaj, said the government, in consultation with the Reserve Bank of India (RBI), had raised the foreign investor participation ceiling in corporate bonds from 9% to 15%. “We are working on a very comprehensive facility. It will certainly instil confidence among the participants in the corporate bond market,” he said.
Based on a proposal from markets regulator SEBI, an announcement in the Budget for 2021-22 was made with regard to the creation of a ‘backstop facility’ that would purchase investment-grade debt securities both in stressed and in normal times, and aid the development of the bond market.
Mr. Bajaj added the Centre was also working on framing an investor charter that would focus on the rights and responsibilities of investors as also a grievance redressal mechanism.
The investor charter will not only help bring in more transparency in the investment process but also encourage investors to invest with better knowledge.
Speaking at the event, Principal Economic Adviser Sanjeev Sanyal said the government and RBI are working on inclusion of Indian sovereign bonds in global bond indices and some announcement in the space is expected during the year.