By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 1.16% or 182.1 points higher at 8:25 am on Monday, indicating a gap-up opening on Dalal Street.
Major indices on Wall Street zoomed on Friday, posting strong rebounds in the week and bouncing up to 7.5%, as investors monitored growing recession fears and a slowing economy, along with a recent pullback in prices of commodities that cemented the Fed’s plans of hiking interest rates aggressively.
Despite the monetary tightening fears, investors are gauging when the market might hit its bottom, as S&P 500 already entered the bear market earlier this month.
Nasdaq Composite rallied 3.34%, Dow Jones gained 2.68% and S&P 500 jumped 3.06% on Friday. All major averages ended higher last week, with the three headline indices shooting 7.5%, 6.4% and 5.4% higher, respectively.
Stocks across Asian markets traded higher on Monday, tracking strong rebounds on Wall Street last week as investors evaluated the economic outlook and interest rate hike expectations, while oil prices inched down.
Brent crude lowered to $109.66/barrel and WTI Futures traded at $108.1/barrel, while Natural gas futures fell 1.16% to the 6.2 level at the time of writing, as investors await the G7 meeting this week for any changes made on Russian oil exports and a possible revival of the Iran nuclear deal.
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.