Key trends to know ahead of the market opening
In Tiktok's absence, Facebook launches Reels: #Teji for Facebook
Facebook announced Instagram’s Reels feature is going live in India. Reels is Facebook’s version of TikTok and will run within the Instagram app. India is the fourth country to get the feature, after Brazil, France and Germany.
Facebook's Instagram is officially launching its version of TikTok in India. It will allow users to record and edit 15-second videos with audio and will let users add visual effects.
The Reels option will be available in the Instagram app. The company has been testing Reels in Brazil since November and in France, Germany, and India since earlier this summer.
US weekly jobless claims stay elevated - #Mandi for US economy
The number of Americans seeking unemployment benefits fell last week but remained significantly high last week. Initial claims for state unemployment benefits came down marginally to 1.186 million for the week ended August 1, compared to 1.435 million in the prior week,
In the meanwhile, US President Donald Trump said that the United States could have a coronavirus vaccine before the November election. In terms of timing, the forecast is far more optimistic than estimated by the White House health experts.
Seeing faster monetary transmission now says RBI- #Teji for Indian economy
The Reserve Bank on Thursday said that several rate cuts over the last two years are now helping as we are seeing fast monetary transmission from the banks.
The banks have passed on a 1.62% a rate cut in the last 17 months, helping the borrowers in the form of lower interest rates and reduced EMI cost.
RBI Governor Shaktikanta Das further said that apart from rate cuts, RBI's other policy helped to maintain liquidity surplus. At present, the overall excess liquidity is at over Rs 5 lakh crore.