Morning Action @ 7am – Thursday, June 6th 2024
The Good News: The S&P 500 and Nasdaq Composite closed at fresh records on Wednesday.
Nvidia, the poster boy of artificial intelligence, crossed $3 trillion in market value for the first time. Shares have benefitted from two things: demand for its AI chips and momentum. Also, Apple returned to the $3 trillion level.
# Wall Street also caught a tailwind in Wednesday’s trade as more signs of a cooling labor market boosted market participants' expectations for an earlier-than-expected rate cut from the Federal Reserve.
Gift Nifty jumps of the gate in early action as NDA leaders pledge support for PM Modi's efforts to eradicate poverty, his vision for Viksit Bharat.
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (+186, 22688)*
# Dow Futures: (-4, 38804)
# Nasdaq 100 Futures (-6, 19029)
# Nikkei (+395, 38888)
# Hang Seng (+153, 18577)
# Dow Jones (+96, 38807)
# Nasdaq (+330, 17188)
# Bovespa (-395, 121407).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# In Wednesday’s trade at Wall Street, US stocks moved higher on signs the red-hot labor market is cooling. Well, this lifted expectations that the Federal Reserve will issue its first quarter-point rate cut in September.
# As for the main indexes, the S&P 500 and Nasdaq Composite rallied 1.18% and 1.96%, respectively, while the Dow added 0.25%. Seven out of the 11 S&P sectors ended higher, led by technology, communication services and industrials.
# WTI crude oil prices consolidating at $74.10 per barrel amidst concerns over continued high interest rates by the Federal Reserve.
# COMEX Gold marches higher towards $2,365.
Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors
The Good News: The S&P 500 and Nasdaq Composite closed at fresh records on Wednesday.
Nvidia, the poster boy of artificial intelligence, crossed $3 trillion in market value for the first time. Shares have benefitted from two things: demand for its AI chips and momentum. Also, Apple returned to the $3 trillion level.
# Wall Street also caught a tailwind in Wednesday’s trade as more signs of a cooling labor market boosted market participants' expectations for an earlier-than-expected rate cut from the Federal Reserve.
Gift Nifty jumps of the gate in early action as NDA leaders pledge support for PM Modi's efforts to eradicate poverty, his vision for Viksit Bharat.
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (+186, 22688)*
# Dow Futures: (-4, 38804)
# Nasdaq 100 Futures (-6, 19029)
# Nikkei (+395, 38888)
# Hang Seng (+153, 18577)
# Dow Jones (+96, 38807)
# Nasdaq (+330, 17188)
# Bovespa (-395, 121407).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# In Wednesday’s trade at Wall Street, US stocks moved higher on signs the red-hot labor market is cooling. Well, this lifted expectations that the Federal Reserve will issue its first quarter-point rate cut in September.
# As for the main indexes, the S&P 500 and Nasdaq Composite rallied 1.18% and 1.96%, respectively, while the Dow added 0.25%. Seven out of the 11 S&P sectors ended higher, led by technology, communication services and industrials.
# WTI crude oil prices consolidating at $74.10 per barrel amidst concerns over continued high interest rates by the Federal Reserve.
# COMEX Gold marches higher towards $2,365.
Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors