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Slight upward revision to forecast comes in spite of mixed picture in regional markets.

The council expressed concerns about firms’ capacity to deliver high-quality audits, particularly as audit fees rise.

A key contrary indicator is flashing green offering hope to BTC bulls anticipating a renewed upswing into six figures.

Investors liquidated equity funds at the fastest rate in 15 years in the week to Dec. 18, driven by caution and profit-taking in anticipation of a hawkish outcome from the U.S. Federal Reserve's policy meeting after a recent market rally. According to LSEG Lipper data, investors divested a net $37.22 billion worth of global equity funds in the week, the largest amount for a single week since September 2009. The Fed cut rates as expected on Wednesday and signaled fewer rate cuts and projected higher inflation for next year, prompting a sell-off in global equities after Chair Jerome Powell emphasized the need for caution.

Investors pulled a net $50.2 billion from U.S. equity funds in the week ending Dec. 18, according to LSEG Lipper data, the biggest net outflow since Sept. as they cashed in profits from a market rally ahead of the Fed policy decision. The Fed cut rates as expected on Wednesday but projected fewer-than-expected interest rate cuts and higher inflation next year, while Chair Jerome Powell explicitly referred a need for caution, prompting a sell-off in equity markets.

The benchmark US stock measures were tracking in the red before Friday's open as traders await the p

News of the day for Dec. 20, 2024