Opening Cues: Wall St Ends Up, Asian Markets In Limbo, USD Strengthens & More

  • Stock Market News
Opening Cues: Wall St Ends Up, Asian Markets In Limbo, USD Strengthens & More
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.25% or 44.5 points lower at 8:30 am on Friday, indicating a lower opening on Dalal Street, tracking a sombre mood on Asian markets, while the US dollar hit a fresh one-month high.

Further, the Dow Jones Futures and Nasdaq 100 Futures traded on a muted note.

Major indices on Wall Street ended higher on Thursday, following an upbeat forecast by tech conglomerate Cisco (NASDAQ: CSCO ) Systems, with shares jumping 6% and providing a boost to the tech sector.

Meanwhile, investors continued to assess the Fed’s Wednesday minutes, while data indicated that the economy remained relatively strong. Most traders peg a higher chance of the Fed adopting another 50 bps rate hike in September than a 75 bps one.

Nasdaq Composite added 0.21%, Dow Jones advanced 0.06% and S&P 500 gained 0.23%. 

Stocks across Asian markets traded tepid on Friday, as traders digested the Fed’s hawkish minutes from Wednesday and the US dollar climbed to a fresh one-month. Japan’s CPI jumped to an over seven-year high in July, thanks to rising fuel prices and a widening trade deficit.

At 8:22 am, South Korea’s KOSPI lowered 0.2%, Japan’s Nikkei climbed 0.08%, Hong Kong’s Hang Seng index gained 0.4%, China’s Shanghai Composite slipped 0.3%, and Australia's ASX 200 advanced 0.07%.

Oil traded lower with Brent crude down 0.25% at $96.3/barrel and WTI Futures slipping 0.23% to $90.2/barrel. Natural gas Futures declined 0.3%.

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