- Associated Press
Trains collide in eastern India, killing at least 5 with rescue work ongoing
Five people died and several were injured when a cargo train rammed into a passenger train in India's eastern state of West Bengal on Monday, local media reported. The state's chief minister Mamata Banerjee said in a post on social media platform X that a goods train had collided with Kanchanjunga Express in the state's Darjeeling district. Police officer Abhishek Roy, who is at the site, told the New Delhi Television network that five people had died so far and 25 were injured in the collision, which occurred close to the New Jalpaiguri station.
- Reuters
Goldman Sachs raises S&P 500 year-end target to 5,600
Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms have collectively surged by 45% and now comprise 25% of the S&P 500 equity cap, the brokerage said in a note after markets closed on Friday. The upgraded target reflects an upside of about 3.1% to the index's last close of 5,431.60. The brokerage expects roughly unchanged real yields by the year-end and strong earnings growth to support a 15x P/E for the equal-weight S&P 500 Index.
- Reuters
Economists remain split on timing of BOJ's next rate hike: Reuters poll
Economists remain split over the timing of the Bank of Japan's next interest rate hike, according to a new Reuters poll, after the central bank's decision to announce a quantitative tightening plan next month. The BOJ said on Friday it would start trimming its bond purchases and announce a detailed plan on reducing its nearly $5 trillion balance sheet in July. Of the 29 economists polled by Reuters on Monday, 31% said they expected the BOJ to raise interest rates at its next policy meeting on July 30-31.
