Sensex, Nifty Set To Fall On US Recession Fears

RTTNews | Před 972 dny

(RTTNews) - Indian shares look set to open lower on Thursday after a slew of data showed the U.S. economy was rapidly losing momentum towards the end of last year.

Private sector banks could be in focus today after IndusInd Bank beat forecasts with a 53 percent rise in Q3 profit.

Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Wednesday to extend gains for a second day running while the rupee gained 4 paise to close at 81.25 against the dollar.

Asian markets traded mostly lower this morning on fears the U.S. economy may fall into recession in the first half of this year.

The dollar rose against a basket of currencies as risk-aversion gripped global markets. Gold and oil prices were slightly lower on dollar strength. U.S. 10-year Treasury yields stabilized after falling to a four-month low on Wednesday.

U.S. stocks reversed course to end sharply lower overnight, as investors reacted to weak economic data and comments from St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester expressing support for raising rates beyond 5 percent.

Retail sales, producer prices and production at U.S. factories fell more than expected in December, rekindling concerns over the outlook for growth and corporate earnings.

The Dow plunged 1.8 percent, the tech-heavy Nasdaq Composite lost 1.2 percent and the S&P 500 shed 1.6 percent.

European stocks ended mixed on Wednesday, as China ramped up COVID preparations ahead of the Lunar New Year holidays and data showed inflation in the United Kingdom eased further for the second consecutive month.

The pan European STOXX 600 rose 0.2 percent to extend its winning streak for a sixth straight session as IMF chief said growth will bottom out in 2023.

The German DAX finished marginally lower and the U.K.'s FTSE 100 slipped 0.3 percent while France's CAC 40 index ended flat with a positive bias.

Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate

Canadian stocks are up in positive territory around noon on Wednesday with investors reacting to the Bank of Canada's decision to cut interest rates by 25 basis points. The recent weak labor market data and economic slowdown have raised prospects of further easing by the Canadian central bank.

RTTNews | Před 56 minutami

Bank Of Canada Lowers Interest Rates By A Quarter Point

After leaving interest rates unchanged for three straight meetings, the Bank of Canada on Wednesday announced its widely expected decision to lower rates by a quarter point. The Bank of Canada said it decided to reduce its target for the overnight rate by 25 basis points to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent.

RTTNews | Před 1 h 37 min

U.S. Housing Starts Pull Back Much More Than Expected In August

After reporting significant increases in new residential construction in the U.S. over the two previous months, the Commerce Department released a report on Wednesday showing housing starts pulled back by much more than expected in the month of August. The Commerce Department said housing starts plummeted by 8.5 percent to an annual rate of 1.307 million in August.

RTTNews | Před 2 h 37 min

UK Inflation Unchanged At 3.8%

U.K. consumer price inflation remained sticky in August on higher food prices, official data showed Wednesday, ahead of the policy announcement by the Bank of England on Thursday. The consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July, the Office for National Statistics reported. Inflation matched economists' expectations and stood well ab

RTTNews | Před 3 h 49 min

U.S. Housing Starts Plunge 8.5% In August, Much More Than Expected

RTTNews | Před 4 h 20 min

Bay Street Seen Opening On Cautious Note; BoC, Fed Rate Decisions Eyed

The Canadian market is likely to open on a cautious note on Wednesday, with investors awaiting monetary policy announcements from the Bank of Canada and the Federal Reserve. Weak commodity prices may weigh on resources stocks.

RTTNews | Před 5 h 1 min

Bank Indonesia Cuts Rate Unexpectedly

Indonesia's central bank reduced its key interest rate unexpectedly to the lowest level since 2022 to stimulate economic growth and also raised expectations for more reductions. The Bank Indonesia board, governed by Perry Warjiyo, decided to cut the BI rate by 25 basis points to 4.75 percent. Markets anticipated the central bank to hold the rate this time amid political unrest.

RTTNews | Před 5 h 19 min

Indian Rupee Rises To Near 3-week High On Trade Talk Optimism

The Indian rupee strengthened against the U.S. dollar in the Asian session on Wednesday, after India and the U.S. agreed to speed up talks on a bilateral trade.

RTTNews | Před 5 h 28 min

EURUSD	1.185	GBPUSD	1.36623	AUDUSD	0.66632
USDJPY	146.338	USDCAD	1.37606	USDCHF	0.78714