Hedge funds short US financial stocks at near record levels -Goldman Sachs

U.S. bank chiefs expressed more confidence in the economic outlook for 2024 after consumers and businesses showed surprising strength this year.

Global hedge funds using algorithms to trade stocks endured one of their worst days of the year on Thursday, a Goldman Sachs note on Friday showed, a sign that a sharp rally in shares on hopes that global rate hikes are over caught some off guard.

Stock Market Today: Goldman Sachs downgraded SBI, ICICI Bank, Yes Bank, as it sees multiple challenges ahead. Goldman Sachs believes that proverbial Goldilocks period (strong growth & profitability) is over for the financial sector. However, it upgraded Bajaj Finance and reiterated buy on HDFC Bank.

Goldman Sachs (GS.N) is working on a dozen projects which will incorporate generative artificial intelligence into its business practices, a senior executive at the Wall Street giant told the Reuters NEXT conference in New York on Thursday.

Hedge funds last week "aggressively" bought U.S. stocks at the fastest pace in two years, said a Goldman Sachs note (GS.N), with traders jumping into a stock rally fuelled by hopes that the U.S. central bank rate pause might stick.

(Refiles with GLOBAL MARKETS in headline; no changes to text) By Harry Robertson and Tom Westbrook LONDON/SINGAPORE (Reuters) - Global stocks were on track for their biggest weekly rise in a year on

By Ankur Banerjee SINGAPORE (Reuters) -Asian equities rose on Tuesday led higher by Chinese tech firms although investors' main focus was on key U.S. inflation data, while expectations that the Bank

Largecap IT stocks, including Infosys and Tech Mahindra, have not yet reached overbought levels despite recent gains. Smallcap stocks have seen the most visible gains in the last year. Traders should be cautious as the earnings season begins, as history suggests a high chance of a monthly close in the red when entering the season at record peaks. Recent CPI readings from the US have prompted traders to reduce bets on Fed's rate cuts. The next fortnight could see objectives of 22240 and 22400, with a downside marker at 21790.

Global hedge funds that use algorithms to trade suffered their second worst single day this year on Tuesday, as softer than expected U.S. inflation numbers sparked a hefty stocks rally, a Goldman Sachs (GS.N) note showed.

Global macro hedge funds are now bearish on equities, leaving behind bullish bets which were part of their strategy for most of the year, while commodity trend advisers (CTAs) increased their short positions, Barclays said in a note.