Gift Nifty is pointing to modest positive opening after a sharp turnaround at Wall Street in overnight trade from their Friday’s drubbing action.
So, the biggest positive catalyst for the day: President Donald Trump suggested he may scale back his threat to impose steep new tariffs on China.
Bottom-line: A modest positive trading day quite is quite likely with Nifty bulls aiming for smart gains!
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+1, 25307)
Dow Futures: (+123, 46192)
Nasdaq 100 Futures (+66, 24816)
Nikkei (-402, 47695)
Hang Seng (+80, 25969)
Dow Jones (+588, 46067)
Nasdaq Composite (+490, 22695)
Bovespa (+1103, 141783).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
The positive theme revolved around a Sunday’s post on Truth Social, where Trump wrote, “Don’t worry about China, it will all be fine!”
And this seemed to be enough to calm Wall Street’s bearish nerves.
Gold prices ($4146 per ounce) surged past $4,100, setting a fresh record high as escalating US-China trade tensions and growing expectations of Federal Reserve rate cuts boosted demand for safe-haven assets.
The US dollar index (99.30) index rose as President Donald Trump walked back his threat to impose massive tariffs on China, saying in a Truth Social post that trade relations with the country “will all be fine.”
WTI crude oil futures stayed depressed near $59.85 per barrel, as investors weighed a smaller-than-expected OPEC+ output increase against persistent oversupply concerns and weak demand prospects.
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