00:00The latest tip for those of you who own stocks comes from none other than the President of
00:06the United States himself.
00:08Donald Trump said that U.S. companies are doing really well and that it's, quote, a
00:12tremendous time to buy and a great opportunity to buy.
00:15And he's not completely wrong, for once.
00:18Analysts said that valuations are at their lowest for U.S. stocks since 2013.
00:24The U.S.'s main indices have shed quite a bit this year.
00:27The Dow Jones, for example, is about 250 points away from bear territory, while the S&P 500
00:32is nearly seven points away from bear territory.
00:35And in local news, talks of more consolidation in the U.S. are picking up steam.
00:39Analysts say that companies are encouraged by the success of earlier mergers, such as
00:43that between the National Bank of Abu Dhabi and First Gulf Bank and earlier National Bank
00:47of Dubai and Emirates Bank.
00:49Analysts say that that very success is likely to result in more mergers next year, with
00:53the upcoming one likely to be between Abu Dhabi Commercial Bank, Union National Bank
00:57and Al-Hilal Bank.
00:58And finally, reports from the Center for Economics and Business Research suggest that India's
01:03economy is likely to take the economies of Britain and France in either 2019 or 2020.
01:09This is a revision, however, from earlier forecasts by that center that said that India's
01:13economy will overtake those two in 2018.
01:16China's economy is likely to take the U.S.'s economy as the top economy in the world in
01:212032.
01:22For more news, please check us out at gulfnews.com forward slash business.
01:25This has been the Daily Business Trap.
01:27I've been Saradeya.
01:28Thanks for watching.
