Highlights

  • Hero Moto sales come below estimates at 4.8 lakh units in May
  • Edtech startup Udayy has fired 100-120 employees and shut down

Latest news

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Top Market Headlines on June 2: Here is are the top business news notifications

Mood remains tepid as warnings of economic hurricane and startups shrinking continues

In the latest news from the stock markets and economy- the mood remains tepid as warnings of economic hurricane and startups shrinking continues. Here are the top headlines we are tracking-:

Sto
Sentiment remains tepid across equity markets. Overnight on Wall Street, the S&P 500 shed 0.75% to 4,101.23. The Dow Jones Industrial Average declined 176.89 points, or 0.54%, to 32,813.23. The tech-heavy Nasdaq Composite shed 0.72% to 11,994.46.

Crude Watch
Oil prices eased as Saudi Arabia indicated it was ready to pump more oil if Russian output sinks under ban. Saudi Arabia’s view is that while the oil market is undoubtedly tight there are not yet genuine shortages. The OPEC+ meets today.

Stocks to Watch
Hero Moto in focus as after Bajaj Auto this two-wheeler major has reported May sales that have fallen short of estimates. May sales clocked in at 4.86 lakh lower than 5 lakh+ estimate the market was working with. Meanwhile Tata Motors zooms to take over Hyundai as India's no 2 car maker.

Startups Shrinking
Edtech startup Udayy has fired 100-120 employees and shut down after its business slowed following the reopening of schools offline.

Economic Hurricane
JPMorganCEO Jamie Dimon advises investors to be ready for an 'Economic Hurricane'. Speaking at a conference Dimon warned that it was unclear if the current economic conditions were just a turbulence of a full storm and one needs to 'brace themselves'.

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