The S&P 500 and Nasdaq closed lower on Friday after touching record highs during the session, with chip stocks going into reverse and a mixed labor market report that showed more new jobs than expected with a rising unemployment rate.
Axiscades Technologies has acquired Hyderabad-based Epcogen to strengthen its presence in the energy markets of the Middle East and North America. The acquisition of Epcogen, an engineering design solutions provider specializing in the energy sector, will further enhance Axiscades’ competency and drive its expansion as a service provider into the global energy industries.
Wall Street’s main stock indexes rallied on Friday as bond yields fell sharply after data showed signs of slowing U.S. jobs growth and an uptick in unemployment, boosting hopes that the Federal Reserve is done with its interest rate hiking campaign. Nonfarm payrolls increased by 150,000 jobs in October, much less than the expected 180,000 increase, partly due to strikes at Detroit’s Big Three automakers. Data for the last month was revised lower to show an increase of 297,000 instead of 336,000. The jobs data also helped push U.S. Treasury yields lower for the fourth consecutive session. The move in yields supported stocks. The Dow Jones Industrial Average rose 222.24 points, or 0.66%, to 34,061.32, the S&P 500 gained 40.56 points, or 0.94%, to 4,358.34 and the Nasdaq Composite added 184.09 points, or 1.38%, to 13,478.28. For the week, the S&P 500 gained 5.9%, for its biggest gain since November 2022 and Nasdaq added 6.6%, also showing its biggest gain since Nov. 2022. The Dow showed a weekly gain of 5.1%, its biggest since late October 2022.
India’s power sector emissions from fossil fuels have surpassed Europe’s due to the increased use of high-polluting coal. Europe has seen a reduction in coal and natural gas use and an increase in renewable energy generation, resulting in a decrease in power emissions. However, India’s reliance on coal for electricity generation has led to a 4.5% increase in power emissions. If these trends continue, India’s emissions will consistently exceed Europe’s, making it a leading global source of climate-warming pollution.
