Morning Action @ 7am – Friday, June 7th 2024
# Wall Street struggled for direction as investors braced for the highly-anticipated monthly Friday’s jobs report for further insights on the state of the labor market and to guide the monetary policy outlook.
# Traders were hoping that the Federal Reserve will follow in the footsteps of the Bank of Canada and the European Central Bank (ECB), which issued their first rate cuts this week.
The odds of a September rate cut have risen to 57% from last week's 45% probability.
Gift Nifty steady ahead of RBI’s MPC meeting outcome to be wired at 10:00 AM.
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (-12, 22906)
# Dow Futures: (+15, 38900)
# Nasdaq 100 Futures (+17, 19038)
# Nikkei (+395, 38888)
# Hang Seng (+85, 18562)
# Dow Jones (+79, 38886)
# Nasdaq (-15, 17173)
# Bovespa (+1492, 122899).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# In Thursday’s trade at Wall Street, US stocks ended mixed but thanks to CRM stock's gains (+2.6%), the Dow Jones gained 0.2% to end at 38,886. The S&P 500, meanwhile, slipped 0.02% to 5,352, while the Nasdaq Composite slipped 0.09% to 17,173.
# The yield on the 2-year Treasury yield fell 4.72%, its sixth-straight day of declines. The 10-year yield was down to 4.28%, also its sixth day down.
# Nonfarm payrolls are expected at 190,000 by economists surveyed by The Wall Street Journal, following April's 175,000 reading, with unemployment seen steady at 3.9%.
# WTI crude oil prices inched up towards $75.10 per barrel.
# COMEX Gold marches higher towards $2,373.
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 investor
# Wall Street struggled for direction as investors braced for the highly-anticipated monthly Friday’s jobs report for further insights on the state of the labor market and to guide the monetary policy outlook.
# Traders were hoping that the Federal Reserve will follow in the footsteps of the Bank of Canada and the European Central Bank (ECB), which issued their first rate cuts this week.
The odds of a September rate cut have risen to 57% from last week's 45% probability.
Gift Nifty steady ahead of RBI’s MPC meeting outcome to be wired at 10:00 AM.
7am GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (-12, 22906)
# Dow Futures: (+15, 38900)
# Nasdaq 100 Futures (+17, 19038)
# Nikkei (+395, 38888)
# Hang Seng (+85, 18562)
# Dow Jones (+79, 38886)
# Nasdaq (-15, 17173)
# Bovespa (+1492, 122899).
WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# In Thursday’s trade at Wall Street, US stocks ended mixed but thanks to CRM stock's gains (+2.6%), the Dow Jones gained 0.2% to end at 38,886. The S&P 500, meanwhile, slipped 0.02% to 5,352, while the Nasdaq Composite slipped 0.09% to 17,173.
# The yield on the 2-year Treasury yield fell 4.72%, its sixth-straight day of declines. The 10-year yield was down to 4.28%, also its sixth day down.
# Nonfarm payrolls are expected at 190,000 by economists surveyed by The Wall Street Journal, following April's 175,000 reading, with unemployment seen steady at 3.9%.
# WTI crude oil prices inched up towards $75.10 per barrel.
# COMEX Gold marches higher towards $2,373.
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 investor