Gift Nifty is pointing to robust gains for our stock markets.
The 2-Biggest Positive Catalyst:
1) Cooler US CPI report igniting Fed rate cut.
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 🇮🇳: (+32, 26048)
Dow Futures: (+3, 47548)
Nasdaq 100 Futures (+12, 25834)
Nikkei (-147, 50365)
Hang Seng (+75, 26509)
Dow Jones (+337, 47545)
Nasdaq Composite (+433, 23637)
Bovespa (+797, 146969).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
In Monday’s trade, Wall Street indices climbed to fresh record highs as investors continued to cheer a tame US CPI inflation reading that confirmed a rate cut at Fed meeting to be wired on Wednesday, October 29th.
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.
Odds of another rate cut in December have risen to 92% from 73% one month ago.
Gold prices ($4016 per ounce) remained below $4,050 per ounce, after weaker-than-expected US CPI data boosted expectations of lower interest rate
WTI crude oil futures was consolidating near the $61.33 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.
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