Good Morning Early, Readers!!
Wall Street wrapped up Wednesday’s session on a firm footing, supported by:
- Rising confidence in an improving corporate earnings outlook
- Growing expectations of a Federal Reserve rate cut on December 10
Back home, for the day, Nifty may wobble at the open but could attract buying at lower levels on hopes of an RBI rate cut on December 5.
Bottom-line: The renewed optimism from Wall Street could lend support to Indian equities. Dip buying should be the gyan mantra.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-38, 26098)
Dow Futures: (+97, 47980)
Nasdaq 100 Futures (+27, 25633)
Nikkei (+340, 50205)
Hang Seng (Closed, 25761)
Dow Jones (+408, 47883)
Nasdaq Composite (+40, 23454)
Bovespa (+663, 161755).
The Street is keenly awaiting President Donald Trump’s signal on the next Fed Chair.
Trump said he will reveal his choice in early 2026, though markets remain far more focused on the upcoming Fed meeting for immediate policy cues.
The ADP National Employment Report has all but sealed a rate cut at the next Fed meeting. Private-sector payrolls were down 32,000 in November vs a FactSet-compiled consensus forecast for 40,000 new jobs.
CME FedWatch shows an 89.2% probability the Federal Open Market Committee will cut interest rates by 25 basis points when it meets next week.
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