Morning Action @ 7am – Thursday, May 30th 2024
# In early action, Gift Nifty is seen treading water as the global stock market sell-off is seen accelerating.
This Thursday morning, US stock futures are falling hard as the Dow futures are down 0.7% or 249 points, while S&P 500 and Nasdaq 100 futures were down about 0.4%. In extended trading, Salesforce plunged 16% after missing revenue expectations for the first quarter and issuing weak guidance for the second quarter
# Overnight, Wall Street tumbled hard as Dow Jones dived 411 points as bond yields rose again, dampening investors sentiment.
Long story short: Caution shall continue to be the buzzword and investors should prefer to stay on sidelines ahead of election outcome.*
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (-57, 22663)
# Dow Futures: (-246, 38195)
# Nasdaq 100 Futures (-62, 18674)
# Nikkei (-837, 37719)
# Hang Seng (-53, 18423)
# Dow Jones (-411, 38442)
# Nasdaq (-99, 16921)
# Bovespa (-1073, 122707).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# At Wednesday’s close, the Nasdaq Composite was down 0.6% at 16,920 and the S&P 500 was off 0.7% at 5,266. The Dow Jones Industrial Average fell 1.1% to 38,441.
# Well, the trading revolves around when the first-rate cut will come from the Federal Reserve. Please note, any sticky inflation data from here-on still has the potential to trigger bigger market volatility.
The yield on the 2-year Treasury note was up to 4.983% while the 10-year yield was up to 4.623%.
The market’s fear gauge too roared as the CBOE Volatility Index, or VIX, was up 6% at 13.72.
Focus shifts to a key datapoint, ‘the US personal consumption expenditures price index’ to be wired on Friday, May 31st.
# WTI crude oil prices are struggling at $79.34 per barrel amidst concerns over continued high interest rates by the Federal Reserve.
# COMEX Gold slips a bit and seen consolidates at $2,337.
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
# In early action, Gift Nifty is seen treading water as the global stock market sell-off is seen accelerating.
This Thursday morning, US stock futures are falling hard as the Dow futures are down 0.7% or 249 points, while S&P 500 and Nasdaq 100 futures were down about 0.4%. In extended trading, Salesforce plunged 16% after missing revenue expectations for the first quarter and issuing weak guidance for the second quarter
# Overnight, Wall Street tumbled hard as Dow Jones dived 411 points as bond yields rose again, dampening investors sentiment.
Long story short: Caution shall continue to be the buzzword and investors should prefer to stay on sidelines ahead of election outcome.*
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (-57, 22663)
# Dow Futures: (-246, 38195)
# Nasdaq 100 Futures (-62, 18674)
# Nikkei (-837, 37719)
# Hang Seng (-53, 18423)
# Dow Jones (-411, 38442)
# Nasdaq (-99, 16921)
# Bovespa (-1073, 122707).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# At Wednesday’s close, the Nasdaq Composite was down 0.6% at 16,920 and the S&P 500 was off 0.7% at 5,266. The Dow Jones Industrial Average fell 1.1% to 38,441.
# Well, the trading revolves around when the first-rate cut will come from the Federal Reserve. Please note, any sticky inflation data from here-on still has the potential to trigger bigger market volatility.
The yield on the 2-year Treasury note was up to 4.983% while the 10-year yield was up to 4.623%.
The market’s fear gauge too roared as the CBOE Volatility Index, or VIX, was up 6% at 13.72.
Focus shifts to a key datapoint, ‘the US personal consumption expenditures price index’ to be wired on Friday, May 31st.
# WTI crude oil prices are struggling at $79.34 per barrel amidst concerns over continued high interest rates by the Federal Reserve.
# COMEX Gold slips a bit and seen consolidates at $2,337.
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