Good Morning Early, Readers!!
Gift Nifty is indicating that our stock markets will shoot higher in Monday’s trade and hopefully, Nifty will keep climbing higher thru the close.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+21, 25865)
Dow Futures: (+278, 47483)
Nasdaq 100 Futures (+239, 25597)
Nikkei (+969, 50269)
Hang Seng (Closed, 26160)
Dow Jones (+144, 46735)
Nasdaq Composite (+263, 23205)
Bovespa (+451, 146172).
In Friday’s trade, Wall Street indices zoomed higher as investors cheered a tame US CPI inflation reading that confirmed a rate cut at next week’s Fed meeting.
The CME Group FedWatch, futures traders are currently pricing in a 97% chance the central bank will lower the federal funds rate by a quarter-percentage point this Wednesday, October 29th . Odds of another rate cut in December have risen to 92% from 73% one month ago.
At the close, the Dow Jones Industrial Average was up 1.0% at 47,207, the S&P 500 was 0.8% higher at 6,791, and the Nasdaq Composite had gained 1.2% to 23,204 – new record highs for all three indexes.
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