Stock Market Updates

European stocks rose on Thursday as key elections (UK and France) held center stage and investors grew more optimistic about US Fed interest-rate cuts following US economic data that supported the case for easing. US markets were shut due to the July 04 holiday. Emerging market equities also benefited as the MSCI Emerging Markets Index rose to the highest level in two years on Thursday. Britain’s...

Global markets Wall Street traders pulled stocks higher as bond yields fell after a series of weaker-than-estimated economic reports strengthened the case for the Federal Reserve to start cutting rates this year. The S&P 500 rose to new highs in Wednesday’s shortened trading session as investors appeared to ignore sluggish economic data. The exchanges in the US will be shut today for Independence...

*Tesla catapults US indices to fresh highs* U.S. stocks finished higher on Tuesday after a rally in shares of Tesla Inc. pushed the S&P 500 and the Nasdaq Composite to fresh record highs. Shares of Tesla finished more than 10% higher on Tuesday after it surprised investors by reporting second-quarter deliveries that beat expectations. U.S. markets will have a shortened trading session Wednesday an...

The S&P 500 closed higher Monday, supported by tech as stocks kicked off the second half of the year ahead of a crucial monthly jobs report due later this week. The HSBC India Manufacturing PMI rose to 58.3 in June compared with 57.5 in the previous month, as domestic demand helped push new orders. Employment generation recorded the fastest pace since March 2005. Passenger Vehicle (PV) wholesales...

U.S. stocks slipped Friday as traders digested fresh economic data that indicated slowing inflation, as well as better-than-expected consumer sentiment figures. Traders are rearranging their positions in the aftermath of the debate between Joe Biden and Donald Trump. Biden’s shaky performance boosted sentiment around Trump’s odds for securing a second term in the White House. India’s core sector g...

Nifty ended slightly lower on June 28 forming a minor bearish pattern. However, on weekly charts, Nifty rose for the fourth consecutive week (up 2.17% - the largest weekly gain in 5 months) to record its best month so far this year. On weekly charts, the Nifty formed a large bull candle breaking out of a range. On monthly charts, Nifty gained 6.57% - the largest monthly gain in 6 months. Nifty cou...

*NIFTY scales mount 24K* The S&P 500 closed with a narrow gain on Thursday as Wall Street looked ahead to fresh inflation data for clues as to when the Federal Reserve will begin to lower interest rates. Core inflation in Japan's capital rose in June (to 2.1% YoY vs forecast of 2.0%) on rising fuel bills and the boost to import costs from a weak yen The Japanese yen hit fresh 38-year lows against...

*Morning comments (HDFCSec Retail Research)* *Indian markets could open flat to mildly higher, in line with mostly positive Asian markets today and mixed US markets on June 26* US indexes ended marginally higher on Wednesday, lifted by Amazon.com Inc after it announced a major foray into generative AI. The firm also crossed the $2 trillion valuation mark. Big tech got hit in late US trading after...

The Dow rallied on Monday to a one-month high, while the Nasdaq fell over 1% as investors rotated out of AI-linked stocks, betting on Federal Reserve interest rate cuts this year. Nvidia slid 6.68% for a third session due to profit taking in the semiconductor bellwether after last week's sharp rise made it the world's most valuable company. India's current account balance recorded a surplus for th...

U.S. stocks finished mostly lower Friday as the technology sector fell, but major equities indexes still rose for the week. The S&P 500's tech sector was under pressure Friday, losing 0.8% as Nvidia Corp.'s shares dropped sharply. The leading index for the U.S. economy sank again in May, declining for the third month in a row, but it “doesn’t currently signal a recession,” U.S. home sales fell for...

Domestic markets ended the volatile week on a flat note on account of profit booking as well as concerns over the slow progress of monsoon. Equity indices continued to hit fresh highs on the back of positive global cues but made small progress. Sensex and Nifty ended the week with minor gains of 0.28 per cent and 0.15 per cent, respectively. The markets edged higher in 2 out of 4 trading sessions...

The S&P 500 and Nasdaq closed lower on Thursday. Stocks retreated after a rally to all-time highs prompted calls for a near-term pullback amid signs of buyer fatigue. Economic data released on June 20 indicated that unemployment in the US continues to rise. The Labor Department reported that fillings for jobless benefits reached 238,000 for the week ended June 15, up 5,500 from the previous week....

European stocks and US equity futures paused Wednesday as traders looked for fresh catalysts to extend the latest tech-driven gains. Financial markets in the U.S. were closed Wednesday on account of Juneteenth Day. China left benchmark lending rates unchanged at a monthly fixing on Thursday, in line with market expectations. Asian shares were muted following a rally in the previous session as inve...

U.S. stocks finished higher on Tuesday as the S&P 500 and the Nasdaq Composite posted fresh records ahead of the Juneteenth holiday on Wednesday. Nvidia Corp.'s stock surged 3.5%, with the company reaching a valuation of nearly $3.34 trillion. The AI chipmaker was the most valuable U.S. company by market capitalization as of Tuesday afternoon, overtaking megacap tech players Microsoft Corp. and Ap...

The S&P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week's economic data and Federal Reserve officials' speeches that could shed light on monetary policy. Crude oil prices surged nearly $2 a barrel on Monday to their highest settlement levels in over a month, adding to last week's gains as investors grew...

U.S. stocks closed mostly higher on Wednesday, helped by a softer-than-expected consumer-price index reading and signs that the US Fed could start to cut interest rates this year. The US Fed acknowledged modest further progress toward the Committee’s 2 percent inflation objective. The committee, in its closely watched “dot plot” of individual participants’ rate expectations, did indicate a more ag...

U.S. stocks finished mostly higher on Tuesday, helped by shares of Apple Inc. as the iPhone maker surged to a new record. Apple disclosed new artificial-intelligence features including an improved Siri virtual assistant Investors looked ahead to the release of the May consumer-price index and the Federal Reserve’s policy announcement China’s May consumer inflation rate came in at 0.3%, missing exp...

U.S. stocks ended higher on Monday, as investors await the Federal Reserve's policy meeting and new inflation data due later this week. Crude oil futures finished higher Monday, with U.S. benchmark prices up by 2.9% — the largest daily rise for a front-month contract since February. Asian stocks were mixed and muted Tuesday, following a quiet session on Wall Street as investors positioned for this...

Wall Street stocks ended slightly lower on Friday in volatile trading after stronger-than-expected U.S. jobs data pointed to a robust economy but provoked worries the Federal Reserve may wait longer to cut interest rates than many investors had hoped. The U.S. economy generated about 272,000 jobs in May, far more than the 185,000 analysts had forecast. The unemployment rate inched up to 4%. For th...

Sensex and Nifty experienced their most significant single-day drop in four years. However, post this sudden downturn, the market has managed to rebound swiftly, almost reaching new highs once again, buoyed by BJP-led NDA's re-election and global optimism. The S&P BSE Sensex soared 3.69% and the NSE Nifty 50 jumped 3.37% over the week. The markets edged higher in 4 out of 5 trading sessions during...

*Morning comments (HDFCSec Retail Research)* *All eyes on MPC* *Indian markets could open flat to mildly higher, in line with mixed Asian and US markets on June 06* Stocks closed mixed Thursday, after the European Central Bank cut rates for the first time in five years and as investors looked ahead to Friday's monthly jobs report to help gauge the strength of the U.S. economy. Wall Street expects...

The S&P 500 and Nasdaq Composite ended at records Wednesday as Nvidia Corp.'s market capitalization touched the $3 trillion mark for the first time. Nvidia is now worth more than Apple, becoming the second-largest U.S. company behind only Microsoft. The rise came amid tentative optimism for interest rate cuts on signs of slowing labor demand and a cooling economy. US treasury yields continued thei...

US stocks tossed between negative and positive territory on Tuesday, finishing narrowly in the green as investors shifted their rate-cut expectations after more weaker-than-expected economic data. US job openings fell in April to their lowest level since February 2021 (8.1 million, confounding economists' estimates for an increase to 8.37M) as the labor market shows further signs of rebalancing. C...

U.S. stocks closed mostly higher on Monday in a volatile day of trade following an early trading glitch on the New York Stock Exchange and as investors looked forward to a series of economic data due later this week, including the jobs report due Friday. The Dow recovered the bulk of its previous losses in the final hour of trade, while the S&P 500 turned positive. U.S. and global benchmark crude...

India’s Prime Minister Narendra Modi looks set for a rare third consecutive term in power, as local exit polls on Saturday suggested his Bharatiya Janata Party-led alliance will clinch a decisive parliamentary majority. According to an exit poll summary by local news channel NDTV, the BJP-led National Democratic Alliance is expected to secure around 365 out of the 543 seats in the lower house of p...