Dow Futures, SGX Nifty Dip: D-St to Open in Red Despite Positive Global Cues
By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.8% or 141 points lower at 9 am on Thursday, indicating a negative opening on Dalal Street despite strong global cues.
Further, the Dow Jones Futures slipped 0.2% and Nasdaq 100 Futures rose 0.88%.
Major indices on Wall Street rose sharply on Wednesday, following a slowdown in Fed’s rate hike by 0.25% and taking the target range of 4.5-4.75%, acknowledging that inflation has somewhat eased, however still remains elevated.
FOMC policymakers believe that further increases borrowing costs will still be needed further. The US Fed has hiked the interest rates aggressively for 8 times since March 2022 to bring inflation under control.
Nasdaq Composite jumped 2%, Dow Jones remained flat and S&P 500 surged 1.05%.
Asian markets rose on Thursday, while the US dollar eased following Fed Chair Jerome Powell’s speech in the overnight session, boosting risk appetite and lining up expectations that the Fed could end its monetary tightening soon.
At 8:53 am, Japan’s Nikkei 225 climbed 0.16%, South Korea’s KOSPI rose 0.46%, China’s Shanghai Composite gained 0.22%, Hong Kong’s Hang Seng rose 0.53% and Australia's ASX 200 advanced 0.14%.
Oil surged on Thursday with Brent crude up 0.74% at $83.45/barrel and WTI Futures surged to $77.06/barrel at the time of writing. Natural Gas Futures traded flat.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or