Global Markets: US markets erased their losses early in the morning as US Fed chief Jerome Powell announced a less hawkish stance on raising interest rates. Crude oil prices on the Multi Commodity Exchange (MCX) also saw strong gains after hitting an intraday low of ₹6,169 per barrel and ended at ₹6,363 a barrel, recording an intraday gain of ₹232 a barrel or 3.78% from its closing price on Monday. However, in the international market, the price of oil increased by 4.10% and recorded its largest intraday increase since November 2022.
Global Markets: US markets erased their losses early in the morning as US Fed chief Jerome Powell announced a less hawkish stance on raising interest rates. Crude oil prices on the Multi Commodity Exchange (MCX) also saw strong gains after hitting an intraday low of ₹6,169 per barrel and ended at ₹6,363 a barrel, recording an intraday gain of ₹232 a barrel or 3.78% from its closing price on Monday. However, in the international market, the price of oil increased by 4.10% and recorded its largest intraday increase since November 2022.
Here we list the important things that changed in global markets while you were sleeping:
Here we list the important things that changed in global markets while you were sleeping:
US markets
After Jerome Powell signaled a less hawkish stance on the US Fed’s interest rate hike, Wall Street witnessed strong buying interest in late trading on Tuesday. The S&P 500 index closed up 1.29%, the Dow Jones gained 0.78% while the tech-heavy Nasdaq index ended up 1.90%. Small Cap 2000 jumped 0.79% in Tuesday’s session.
US markets
After Jerome Powell signaled a less hawkish stance on the US Fed’s interest rate hike, Wall Street witnessed strong buying interest in late trading on Tuesday. The S&P 500 index closed up 1.29%, the Dow Jones gained 0.78% while the tech-heavy Nasdaq index ended up 1.90%. Small Cap 2000 jumped 0.79% in Tuesday’s session.
Highlighting pivot levels when it comes to major US indices, Anuj Gupta, VP – Research at IIFL Securities, said: “Immediate support levels for Dow Jones are placed at 33,900 and 33,680 as it faces an immediate obstacle at 34,350 levels.” He said 34,600 is a major hurdle facing Dow Jones.
Highlighting pivot levels when it comes to major US indices, Anuj Gupta, VP – Research at IIFL Securities, said: “Immediate support levels for Dow Jones are placed at 33,900 and 33,680 as it faces an immediate obstacle at 34,350 levels.” He said 34,600 is a major hurdle facing Dow Jones.
Asian markets
In early morning trading, the Japanese Nikkei is down around 0.50%, the Hang Seng is up 0.36% while the South Korean KOSPI is up 0.66%.
Asian markets
In early morning trading, the Japanese Nikkei is down around 0.50%, the Hang Seng is up 0.36% while the South Korean KOSPI is up 0.66%.
SGX Nifty traded in a range on Tuesday and closed at 17,777 levels, registering 47 points or 0.27% gain in Tuesday’s session. According to market experts, the short range of the SGX Nifty today is between 17,900 and 17,650, while the wide range of the index is between 18,000 and 17,400 levels.
SGX Nifty traded in a range on Tuesday and closed at 17,777 levels, registering 47 points or 0.27% gain in Tuesday’s session. According to market experts, the short range of the SGX Nifty today is between 17,900 and 17,650, while the wide range of the index is between 18,000 and 17,400 levels.
“Immediate support for SGX Nifty is placed at 17,600 levels while the immediate hurdle for the index is now placed at 17,850. A bullish or bearish trend can be seen at the breakout on either side of the range. it is advisable to buy on dips rather than going short in the current market scenario,” Anuj Gupta said.
“Immediate support for SGX Nifty is placed at 17,600 levels while the immediate hurdle for the index is now placed at 17,850. A bullish or bearish trend can be seen at the breakout on either side of the range. it is advisable to buy on dips rather than going short in the current market scenario,” Anuj Gupta said.
Other Global Stock Exchanges
Australia’s S&P/ASX 200 is up 0.30% while DJ New Zealand climbed 0.55% early in the morning.
Other Global Stock Exchanges
Australia’s S&P/ASX 200 is up 0.30% while DJ New Zealand climbed 0.55% early in the morning.
U.S. bond yield
The 10-year US bond yield was down 0.76% at 3.604 while the 30-year bond yield was down 0.06% at 3.704.
U.S. bond yield
The 10-year US bond yield was down 0.76% at 3.604 while the 30-year bond yield was down 0.06% at 3.704.
US dollar index
After US Fed Chairman Jerome Powell dropped signals of a less hawkish stance on rising interest rates, US Dollar rates erased early morning gains. The US Dollar Index is currently down 0.27% at 103.34.
US dollar index
After US Fed Chairman Jerome Powell dropped signals of a less hawkish stance on rising interest rates, US Dollar rates erased early morning gains. The US Dollar Index is currently down 0.27% at 103.34.
crude oil prices
Oil prices on MCX ended at ₹6363 a barrel, recording an intraday gain of 3.78% on Tuesday while in international markets it ended up 4.10% and recorded its largest intraday gain since November 2022.
crude oil price
Oil prices on MCX ended at ₹6363 a barrel, recording an intraday gain of 3.78% on Tuesday while in international markets it ended up 4.10% and recorded its largest intraday gain since November 2022.
Gold price today
Like crude oil prices, gold prices also rose after Jerome Powell’s speech. Gold futures contract for April 2023 ended ₹215 more to 57,170 10g levels on Tuesday. The price of gold on the international market is $1,872 per ounce.
Gold price today
Like crude oil prices, gold prices also rose after Jerome Powell’s speech. Gold futures contract for April 2023 ended ₹215 more to 57,170 10g levels on Tuesday. The price of gold on the international market is $1,872 per ounce.
“For the downtrend scenario, price is currently holding above support at $1,860 which looks choppy at the moment. If price breaks below current support, it may trigger technical selling and lower For the uptrend scenario, the price needs to hold above $1,860 and break through the resistance at $1,900 to confirm the uptrend,” said Marc Despallieres, Director of Strategy and Trading at Vantage.
“For the downtrend scenario, price is currently holding above support at $1,860 which looks choppy at the moment. If price breaks below current support, it may trigger technical selling and lower For the uptrend scenario, the price needs to hold above $1,860 and break through the resistance at $1,900 to confirm the uptrend,” said Marc Despallieres, Director of Strategy and Trading at Vantage.
Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to consult certified experts before making any investment decision.
Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to consult certified experts before making any investment decision.
