Sensex, Nifty Seen Higher On US Tech Rally, Fed Comments

RTTNews | Před 923 dny
Sensex, Nifty Seen Higher On US Tech Rally, Fed Comments

(RTTNews) - Indian shares look set to open higher on Monday as investors hope for less aggressive monetary tightening by the U.S. Federal Reserve.

Markets may see stock-specific action today as investors react to the latest earnings updates from Reliance Industries, ICICI Bank and Kotak Mahindra Bank.

Axis Bank, Bajaj Auto, Bajaj Finance, DLF, Maruti Suzuki India, Tata Motors and Vedanta are due to unveil their quarterly earnings results this week.

Volatility is set to remain high this week because of the Republic Day holiday on Thursday and the impending F&O expiry scheduled for Wednesday.

Asian stocks traded mixed in thin trade, with markets in mainland China, Hong Kong, Singapore and Seoul closed for Lunar New Year celebrations.

Gold ticked higher on dollar weakness, while oil eased after hitting the highest level since mid-November Friday on optimism over increased demand from China.

U.S. stocks rose sharply on Friday, as streaming giant Netflix reported stronger than expected subscriber growth, Google parent Alphabet revealed a plan to cut 12,000 jobs globally and Fed officials Patrick Harker and Christopher Waller said they favor a 25-basis-point rate hike at the next meeting.

The tech-heavy Nasdaq Composite jumped 2.7 percent and the S&P 500 added 1.9 percent to mark its first gain in four days while the Dow gained 1 percent.

The German DAX rose 0.8 percent, France's CAC 40 index edged up 0.6 percent and the U.K.'s FTSE 100 inched up 0.3 percent.

read more
U.S. Construction Spending Unexpectedly Sees Further Downside In June

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.
RTTNews | Před 2 dny
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.
RTTNews | Před 2 dny
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.
RTTNews | Před 2 dny
Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.
RTTNews | Před 2 dny