Daily Strategic BriefingTuesday, June 24, 2025 |
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"Today's news paints a picture of a world in flux, marked by both economic resilience and geopolitical uncertainty. The US charitable giving increased, signaling continued philanthropic strength. Amazon's expansion of same-day delivery to rural communities, Waymo robotaxi launches, and various funding rounds for startups across sectors such as e-commerce, EV, and manufacturing, indicate innovation and growth. However, this positive trend is counterbalanced by global events. Japan conducted its first missile test, Trump accused Iran and Israel of ceasefire violations, and geopolitical tensions remain. Furthermore, shifts in the financial landscape include challenges to Delaware's corporate dominance, the Rhode Island 'Taylor Swift Tax', and a week-long boycott of McDonald's over labor and tax issues. Market updates reveal mixed signals: US and Canadian stocks hit highs, the British Pound surged, while commodities like crude oil and gold dipped. Overall, the day underscores the importance of adapting to change, managing risk, and seizing opportunities amid a dynamic global environment."
Market Dashboard
Key DevelopmentAmerican charitable giving hits $592.5B in 2024Summary: The 3.3% increase signals resilience in philanthropy, though nonprofit leaders brace for a challenging 2025 fundraising environment., Description: American charitable giving reached $592.5 billion in 2024, marking a 3.3% increase over the previous year when adjusted for inflation, according to the latest Giving USA report released today. The figure represents a return to steady growth after years of economic uncertainty following the pandemic. The increase signals resilience in American philanthropy despite broader economic headwinds that... Amazon brings same-day delivery to 4,000 rural communitiesSummary: The expansion will reach tens of millions of customers by 2025 while creating over 100,000 new jobs., Description: Amazon announced plans today to expand same-day and next-day delivery services to more than 4,000 smaller cities, towns, and rural communities across the United States by the end of 2025, extending its Prime delivery network to tens of millions of customers who have historically faced longer shipping times. The expansion builds on a $4 billion investment Amazon announced earlier this year to... Japan conducts first missile test on home soilSummary: The historic test on Hokkaido reflects Tokyo's military buildup amid rising tensions with China and push for greater defense self-sufficiency., Description: Japan's military conducted its first missile test on Japanese territory on Tuesday, firing surface-to-ship missiles from a northern island as the country accelerates its defense buildup amid growing tensions with China. The test marks a departure from Japan's previous practice of conducting missile trials overseas and underscores Tokyo's push toward greater military self-sufficiency in response... Trump accuses Iran and Israel of violating ceasefireSummary: The president demanded Israel recall its warplanes after both nations violated the agreement he brokered just hours earlier., Description: According to NBC News and Fox News, President Donald Trump expressed frustration with both Israel and Iran on Tuesday, accusing them of violating a ceasefire agreement he had brokered just hours earlier, stating the two countries "have been fighting for so long, that they don't know what the f they're doing" and demanding Israel recall its warplanes. Three states challenge Delaware's corporate dominanceSummary: Texas, Oklahoma and Nevada pass business-friendly laws to lure companies from Delaware, threatening the state's $1.8 billion franchise tax revenue., Description: Three states have launched a coordinated challenge to Delaware's century-long dominance as America's premier destination for corporate incorporation, with lawmakers in Texas, Oklahoma, and Nevada approving business-friendly legislation designed to lure companies away from the First State. The legislative push, which gained momentum following high-profile corporate departures from Delaware,... Rhode Island passes 'Taylor Swift Tax' on luxury homesSummary: The $13.9 billion state budget includes a surcharge on vacant second homes worth over $1 million, potentially costing Swift $136,000 annually., Description: The Rhode Island House of Representatives approved a $13.9 billion state budget last week that includes a controversial surcharge on luxury second homes, advancing legislation that could cost pop star Taylor Swift an extra $136,000 annually in taxes. The measure, unofficially dubbed the "Taylor Swift Tax," targets non-owner-occupied residential properties valued above $1 million that remain... Waymo robotaxis launch on Uber in AtlantaSummary: Riders can now hail fully autonomous vehicles through the app across 65 square miles, with option to decline driverless rides., Description: Uber riders in Atlanta can now hail fully autonomous vehicles through the ride-hailing app, as Waymo's driverless robotaxis began carrying passengers across 65 square miles of the metro area Tuesday morning. The launch marks the latest expansion of the partnership between Uber and Alphabet-owned Waymo, bringing self-driving technology to Georgia's capital as the companies race to scale... Queensland delivers $4.7B Olympic package in first budgetSummary: The Crisafulli government also committed $5.6 billion for housing, claiming to address a $3.5 billion Olympic funding shortfall., Description: Queensland's new government delivered a $4.7 billion funding package for the 2032 Brisbane Olympics in its first budget released today, alongside record housing investments totaling $5.6 billion, as the state seeks to address both Games infrastructure needs and an acute housing crisis. The 2025-26 budget represents the Crisafulli government's attempt to rescue Olympic preparations after... Western governors unite against GOP plan to sell public landsSummary: Democratic and Republican governors rejected Senate Republicans' proposal to auction up to 3.3 million acres of federal land across 11 states., Description: Democratic and Republican governors from Western states united Monday in opposition to a congressional proposal that would mandate the sale of millions of acres of public land, calling the plan a threat to communities that depend on federal lands for recreation and economic activity. At a Western Governors Association meeting in Santa Fe, New Mexico, governors from across the political spectrum... Advocacy group launches McDonald's boycott over tax, labor issuesSummary: The People's Union USA targets the fast-food giant from June 24-30 amid declining sales and customer backlash over price increases., Description: A grassroots advocacy group is launching a week-long boycott of McDonald's starting Tuesday, targeting the fast-food giant over tax practices, labor policies, and cuts to diversity programs. The People's Union USA, which has organized similar campaigns against Amazon, Walmart and Target this year, is urging Americans to avoid McDonald's from June 24-30 as part of what it calls "economic... Global Economic IndicatorsBrazilian Real Steady Around 8-Month HighsCountry: Brazil, Description: The Brazilian real steadied around 5.49 per USD in June, hovering near its strongest level in eight months of 5.491 seen June 19th, as investors digested the latest central bank minutes while the US dollar weakened. At home, Copom’s minutes signaled a pending pause in the Selic tightening cycle, emphasizing that rates will remain at 15% for a “very prolonged period” to ensure inflation convergence, thereby anchoring expectations and sustaining Brazil’s attractive real interest-rate differential. Externally, President Trump’s announcement of a ceasefire between Israel and Iran and Iran’s restrained response, failing to disrupt Strait of Hormuz flows, eased oil-price spikes, tempering safe-haven demand and stripping support for the greenback. Finally, resilient commodity exports, buoyed by firmer iron ore and soybean prices in recent sessions, have underpinned trade-balance inflows, all of which has lent tangible support to the real. US 10-Year Treasury Yield Falls to 7-Week LowCountry: United States, Description: The US 10-year Treasury yield fell to 4.31% on Tuesday, its lowest in seven weeks, after Fed Chair Jerome Powell said “many paths are possible” regarding monetary policy, leaving the door open for a July rate cut. Powell stressed caution, noting the Fed would act quickly if the labor market weakens. Markets are now fully pricing in two rate cuts by the end of the year, with a 25% chance of a third. The comments follow the Fed's decision last week to hold rates steady for the fourth straight meeting. Fed officials Waller and Bowman also hinted at possible cuts soon. Meanwhile, investors monitored renewed tensions between Iran and Israel despite a ceasefire announcement. Though Trump expressed confidence in the truce holding, fresh strikes have raised doubts. Still, uninterrupted tanker traffic through the Persian Gulf eased fears of major energy supply disruptions, calming inflation concerns. FX Updates: Japanese Yen Increases by 0.98%Country: Currency, Description: Top currency gainers are Japanese Yen (0.98%), Swiss Franc (0.95%), South Korean Won (0.92%), British Pound (0.73%) and Euro (0.34%). Biggest losers are Dollar Index (-0.53%) and Norwegian Krone (-0.29%). Stocks in Canada Hit All-time HighCountry: Canada, Description: TSX increased to an all-time high of 26684.00 Index Points. Over the past 4 weeks, Canada Stock Market Index (TSX) gained 2.3%, and in the last 12 months, it increased 22.42%. UK 10Y Bond Yield Hits 6-week LowCountry: United Kingdom, Description: UK 10 Year Government Bond Yield decreased to a 6-week low of 4.47%. Over the past 4 weeks, United Kingdom 10Y Bond Yield lost 20.30 basis points, and in the last 12 months, it increased 39.81 basis points. British Pound Hits 3-year HighCountry: United Kingdom, Description: GBPUSD increased to a 3-year high of 1.36. Over the past 4 weeks, British Pound US Dollar gained 0.47%, and in the last 12 months, it increased 7.44%. Uber Hits 4-week HighCountry: United States, Description: Uber increased to a 4-week high of 89.95 USD. Over the past 4 weeks, Uber gained 0.94%, and in the last 12 months, it increased 27.33%. 5th District Services Downturn EasesCountry: United States, Description: The Fifth District Survey of Service Sector Activity showed signs of improving in June 2025, with the revenues index increasing to -4, the highest reading in three months, from -11 in May. The indexes for future revenues and demand increased notably to 20 and 13, respectively. The local business conditions index edged up from -18 in May to -16 in June. The future local business conditions index remained in negative territory but improved from -18 to -11 in June. The current employment index increased from 0 to 3 in June, and the forward-looking index edged up from 11 to 14. The wages index ticked down to 19 and firms continued to expect to increase wages over the next six months. The average growth rates of prices paid and prices received increased slightly in June. Looking forward, firms expected little change in price growth over the next 12 months. 5th District Manufacturing Decline SlowsCountry: United States, Description: The composite manufacturing index in the US Fifth District improved by two points from the previous month to -7 in June of 2025, in line with market expectations. The result underlined a softer decline in the volume on few orders by factories (-12 vs -14 in May), while the contraction for shipments slowed to a greater extent (-3 vs -10). In the meantime, backlogs of orders continued to decline sharply (-20 vs -19). Looking forward, expectations of incoming new orders rebounded (5 vs -3), likely supported by expectations that tariffs might be softer than previously feared and support demand from foreign clients. Chile Producer Inflation Slows to 16-Month Low in MayCountry: Chile, Description: Producer prices in Chile rose 1.6% year-on-year in May 2025, the lowest rate since January 2024, extending a four-month slowdown in producer inflation after a 1.9% increase in April. The rise was driven by the utilities sector, where prices surged 30.4%, though at a slightly slower pace than April’s 32.6%. Manufacturing inflation accelerated (1.1% vs 0.3%). In contrast, the mining sector continued to drag overall inflation, posting a 3.2% annual decline (vs 2.7% in April). Funding & Startup News: IndiaNRI-focused fintech Aspora closes $53M round to broaden reachThe fresh capital will support Aspora’s push into new markets, including the United States, Canada, Australia, and Singapore. GoKwik secures $13 M in round led by RTP GlobalEcommerce enablement platform GoKwik has raised $13 million in a growth round to support its international expansion and AI-offerings. Techfino raises Rs 65 Cr from Stellaris Venture Partners and Saison CapitalTechfino, a Bengaluru-based non-banking financial company (NBFC), has secured Rs 65 crore in funding from Stellaris Venture Partners and Saison Capital to ramp up its secured lending operations for underserved micro, small and medium enterprises (MSMEs) in India. The fresh capital will be used to Physis Capital raises Rs 200 Cr plus for maiden fundPhysis Capital aims to invest in 15-20 startups across the stages of pre-Series A and Series B. GIVA grabs Rs 450 Cr funding from Creaegis Investment, existing investorsJewellery brand GIVA has raised Rs 450 crore in a round led by Creaegis Investment and existing investors to scale retail and lab-grown diamond sales. PharmEasy founders launch home improvement venture All Home, raise seed round at $120M valuationPharmEasy founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have launched a one-stop shop for home improvement needs. Fabheads raises $10M in Series A led by AccelThe new capital will be used to expand manufacturing capacity, grow the leadership team, and strengthen client-facing engineering and R&D functions. BRND.ME, formerly Mensa Brands, has sold men-focused content platform MensXPSale of MensXP is a part of a broader portfolio simplification excersise at Mensa Brands, now BRND.ME as it gears for a public listing. EKA Mobility raises Rs 200 Cr from ENAM HoldingsThe company intends to use majority of the funds to set up its plants, ramp up production of its passenger and goods carrier vehicles, and expand its product portfolio over the next two years. Oben Electric closes Rs 100 Cr Series A round with fresh capital infusionThe company said the funding will be used for Oben’s next growth phase—expanding to 150+ showrooms across 50+ cities by FY26 and ramping up production at its Bengaluru facility. India Market HighlightsSolarium Wins 11775 KW Solar DealSolarium Green Energy Ltd secures 11775 KW rooftop solar project contract from Kirloskar Solar. The project spans 6 months at Central Armed Forces and Ministry of Home Affairs sites. Source: ScoutQuest SGL Resources FY25 Results Delayed After Auditor ResignsSGL Resources delays FY25 results due to auditor resignation on June 23. Board is appointing a new auditor; results to be submitted post audit. Source: ScoutQuest Mahindra EPC's 43rd AGM on 18 July; FY25 Report OnlineMahindra EPC Irrigation Ltd announces its 43rd AGM via video conference on 18th July 2025 at 3:00 PM IST. Annual report for FY 2024-25, including financials, BRSR, and AGM notice, is available online. Source: BSE Shankara FY25 Revenue Up 18%, PAT Hit by Steel PricesShankara Building Products Ltd held its 30th AGM on June 24, 2025, via VC/OAVM; key resolutions were adopted. FY25 revenue grew 18% YoY to ₹5,696.7 Cr; PAT impacted by fluctuating steel prices and higher interest costs. Source: BSE Inditalia Refcon Sets July 1 Meet for Key Board DecisionsInditalia Refcon's board meeting is scheduled for July 1, 2025, at 2:30 PM. Agenda includes RTA appointment, director designation changes, EGM on July 30, and board committee reconstitution. Source: BSE HDFC Sec Rates MCX 'Buy' at ₹8,215.75HDFC Securities issues a Buy report on Multi Commodity Exchange at Rs 8215.75. Source: ScoutQuest JM Financial Rates Delhivery 'Buy' at ₹377.2JM Financial issues Buy rating on Delhivery, CMP at 377.2. Source: ScoutQuest ICICI Sec Recommends 'Buy' on Axis Bank at ₹1,220 CMPICICI Securities issues Buy call on Axis Bank with CMP at 1220.85. Report published as of 24 June 2025, 16:00. Source: ScoutQuest KFin Tech Chair Reappointed; Share Capital Raised to ₹200 CrKFin Tech chairperson reappointed for 1 year till Sep 2026. Authorized share capital raised to ₹200 Cr to support ESOPs, growth. Source: ScoutQuest Inox Wind Raises Equity to ₹1624 Cr; Promoter Stake at 44.18%Inox Wind allots 7.61B equity shares; cancels 44.1B shares, 1.95B preference shares. Paid-up equity capital rises to Rs.1624.1 cr; promoter holding now at 44.18%. Source: ScoutQuest |
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