Today’s global market: Thanks to Friday’s recovery, Wall Street was able to end a three-week losing run. Despite a report demonstrating the service sector’s resiliency, mood remained positive as more investors bet that the effects of the Fed’s rate hikes on the economy would be postponed. Even while Treasuries gained on Friday, bond yields increased for the week, with the 10-year yield circling about 3.96 percent. After four weeks of advances, a benchmark for the dollar experienced its weakest week since mid-January. The SGX Nifty today opened higher than it did on Friday, indicating a successful start on Dalal Street.
Here is a list of some important global market catalysts that could affect the stock market today:
US Stock Market Today
Wall Street finished higher last week despite indications of the service sector’s resiliency, breaking a three-week losing streak. The Dow Jones increased by 1.17 percent on Friday, while the S&P 500 index increased by 1.61 percent and the tech-heavy Nasdaq index increased by 1.97 percent.
Wall Street finished higher last week despite indications of the service sector’s resiliency, breaking a three-week losing streak. The Dow Jones increased by 1.17 percent on Friday, while the S&P 500 index increased by 1.61 percent and the tech-heavy Nasdaq index increased by 1.97 percent.
“Most global stocks inched higher on Friday and began in March on a strong note as markets digested fresh signals on U.S. monetary policy and positive Chinese economic data,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Asian Stock Market Today
The Hong Kong Hang Seng fell 0.04 percent, the Japanese Nikkei rose 1.25 percent, while the Shanghai index decreased 0.05 percent during the morning session.
SGX Nifty Stock Market Today
Today’s higher opening of the SGX Nifty at 17,730, which also happened to be its intraday high, signals a favourable start for Dalal Street when trading begins on Monday. In the AM deals, SGX Nifty experienced some pullback and hit an intraday low of 17,686. The SGX Nifty is currently trading at 17,692, up over 60 points from where it last closed.
US Dollar Rate
The US dollar is trading with some upward bias after having its worst week since mid-January, as the Dollar Index increased by 0.04 percent to 104.528 levels in early morning trades.
US Bond Yield
US 10 year bond yield is down 0.43 percent at 3.946 as of Monday morning, while US 30 year bond yield is down 0.24 percent at 3.878.
Crude Oil Price
The price of crude oil has decreased by 0.76 percent to $79.21 per barrel on the international spot market. The increase in US dollar exchange rates, which has served as a price taper for fossil fuels, is to blame for the decrease in oil prices.
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