Gift Nifty is pointing to robust gains for our stock markets.
The 2-Biggest Positive Catalyst:
1) Cooler US CPI report.
2) Possible trade-deal between the US and China.
Bottom-line: A bullish rebound day is quite likely. Hopefully, Nifty reclaims 26000 mark on closing basis.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+81, 25925)
Dow Futures: (+253, 47460)
Nasdaq 100 Futures (+239, 25597)
Nikkei (+915, 50215)
Hang Seng (+336, 26496)
Dow Jones (+144, 46735)
Nasdaq Composite (+263, 23205)
Bovespa (+451, 146172).
WHAT HAPPENED AT WALL STREET IN FRIDAY’S TRADE:
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.
As on Friday’s 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.
Gold prices ($4076 per ounce) remained below $4,100 per ounce on Friday, after weaker-than-expected US CPI data boosted expectations of lower interest rate
WTI crude oil futures was flirting with the $62 per barrel, hovering at its highest level in over two weeks, as signs of a possible trade-deal between the US and China lifted the demand outlook.
US Treasury Secretary Scott Bessent said Sunday that he has reached a “substantial framework” with Chinese Vice Premier He Lifeng, which will be discussed when their respective leaders meet later this week.
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