Good Morning Early, Readers!!
Wall Street rings massive gains for the 3rd straight day trade driven by: Renewed hope for another Fed rate cut in December
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.
In early action, Gift Nifty is aiming to join the conga-line of rising global stock markets, indicating buy on dips should be the gyan mantra.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+121, 26165)
Dow Futures: (+83, 47196)
Nasdaq 100 Futures (+36, 25055)
Nikkei (+562, 49222)
Hang Seng (Closed, 25895)
Dow Jones (+664, 47112)
Nasdaq Composite (+154, 23026)
Bovespa (+633, 155910).
Interestingly, Tuesday’s gains at Wall Street came even after the benchmarks tumbled to notable losses in mid-morning trading, the blue-chip Dow Jones Industrial Average closed up 1.4% at 47,112, the broader S&P 500 added 0.9% to 6,765, and the tech-heavy Nasdaq Composite gained 0.7% to 23,025.
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