Gift Nifty is hinting at a modestly higher start for Indian equities this Friday morning.
The joy and the bullish enthusiasm however are missing as FIIs again turned net sellers in yesterday’s volatile negative session.
The Good News: Wall Street stock futures are on the rise this Friday morning after upbeat quarterly results from major tech firms.
In extended trading, Amazon surged 13% on stronger-than-expected Q3 earnings, powered by a 20% revenue increase in its cloud unit, AWS.
Apple gained 2.5% after reporting solid fiscal Q4 results and offering optimistic guidance for the holiday quarter.
Netflix also climbed over 3% after unveiling a 10-for-1 stock split.
Bottom-line: Bullish consolidation seen as preferred theme as Nifty bulls aim to regroup after yesterday’s drubbing.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+24, 26046)
Dow Futures: (+26, 47548)
Nasdaq 100 Futures (+341, 26085)
Nikkei (+681, 52007)
Hang Seng (-20, 26263)
Dow Jones (-110, 47522)
Nasdaq Composite (-377, 23581)
Bovespa (+147, 148780).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Wall Street fell in Thursday’s trade as investors digested reports of U.S.-China trade pact, and Federal Reserve Chairman Jerome Powell’s cautious press conference comments.
Gold prices ($4025 per ounce) were in demand, as they rebounded and snapped a 4-day losing streak on reports that the strong central bank demand continued to support the market.
According to the World Gold Council, global central banks purchased about 220 tons in Q3, a 28% increase from the previous quarter, reversing an earlier slowdown. Kazakhstan remained the largest buyer, while Brazil purchased gold for the first time in over four years.
WTI crude oil futures was consolidating near the $60.33 per barrel, hovering at its highest level in over two weeks, as signs of a possible trade-deal between the US and China lifted the demand outlook.
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