Good Morning Early, Readers!!
Wall Street’s major indices hit pause on Thursday, but the rising odds of looser monetary policy powered small-caps higher — the Russell 2000 jumped 0.8% to a fresh all-time closing high of 2,531.
Back home, all eyes are on the RBI’s MPC decision at 10:00 AM, with traders bracing for a possible rate cut.
Bottom-line: Expect an up-and-down, choppy session as markets react to the policy outcome.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-12, 26178)
Dow Futures: (+5, 47856)
Nasdaq 100 Futures (+22, 25604)
Nikkei (-673, 50350)
Hang Seng (Closed, 25936)
Dow Jones (-32, 47851)
Nasdaq Composite (+51, 23505)
Bovespa (+2700, 164456).
It was a choppy session for US stocks in Thursday’s trade as the street weighed the latest jobs data against expectations for a rate cut at next week’s Federal Reserve meeting.
The positive takeaway however was that small caps rallied hard on hopes for lower interest rates, while speculation over a Magnificent 7 stock’s massive spending cuts kept the Nasdaq Composite above water.
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