Gift Nifty is pointing to a strong start for our stock markets.

Tailwind: Dovish remarks from Fed Chair Jerome Powell have rekindled optimism that the aggressive US rate-cut cycle may begin sooner than expected.

The Big Question: Is it safe to assume that the U.S. government shutdown will have limited economic consequences — or could this yet turn into an underappreciated risk for global markets?

Bottom-line: A constructive positive trading day quite is quite likely with Nifty bulls aiming for smart gains!

7:00 AM GLOBAL UPDATE:

GIFT Nifty 🇮🇳: (+49, 25452)
Dow Futures: (+43, 46299)
Nasdaq 100 Futures (+5, 24749)

Nikkei (+314, 47987)
Hang Seng (-21, 25890)

Dow Jones (-17, 46253)
Nasdaq Composite (+148, 22670)
Bovespa (+921, 142605).

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

Overnight, Wall Street had opened higher amidst strong bank earnings. But volatility spiked again, and all three main U.S. equity indexes briefly dipped into the red before regaining their respective footing towards the close

Also helping sentiments were a speech from Fed Chair Jerome Powell that kept the door open for an October rate cut.

Gold prices ($4200 per ounce) scaled a new all-time-high at $4,217, amidst escalating US-China trade tensions and growing expectations of Federal Reserve rate cuts boosted demand for safe-haven assets.

WTI crude oil futures stayed depressed near $58.60 per barrel, near its five-month low as investors weighed escalating US-China tensions and a bearish outlook from the International Energy Agency. The agency also cut its demand growth forecast, citing a weaker economic outlook, while several industry executives warned that gasoline and diesel demand may have already peaked.

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