Good Morning Early, Readers!!
Wall Street rings massive gains for the 4th straight day:
The Positive Catalyst: The street is betting that the Fed will cut rates in December
In early action, Gift Nifty is uninspired but we suspect it to be a banner day for Nifty and Bank Nifty. Nifty should comfortably cross its all-time-high at 26277.35 mark.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-3, 26387)
Dow Futures: (+66, 47493)
Nasdaq 100 Futures (+45, 25283)
Nikkei (+561, 50121)
Hang Seng (Closed, 25928)
Dow Jones (+315, 47427)
Nasdaq Composite (+189, 23215)
Bovespa (+2645, 158555).
According to CME FedWatch, futures traders are pricing in an 83% probability of a quarter-point rate cut next month, up from 50% one week ago.
As a reminder, the US stock and bond markets are closed on Thursday for the holiday and will close early on Black Friday.
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