US stocks bounced back after Wednesday’s Fed-driven selloff. The S&P 500 and Nasdaq ended the week higher, while the 10-year yield slipped below 5% and volatility eased.
The bigger story was Fed credibility. Kevin Warsh held his ground on inflation despite pressure from Trump, reassuring markets that the Fed remains independent.
In India, Tata Sons grabbed attention as N. Chandrasekaran was reappointed for another five years despite opposition from Noel Tata, opening a fresh battle over the conglomerate’s future.
Meanwhile, AI financing keeps getting bigger and more leveraged, with CoreWeave raising billions and Apollo discussing a larger loan tied to OpenAI.
Indian markets were mostly quiet. The Sensex and Nifty barely moved, while the NSE IPO saw 42% subscription on day one. The rupee strengthened, oil prices fell, and a weak monsoon could push rice prices higher ahead of the festive season.