Sensex, Nifty May See Gap-up Opening On Tentative US Debt Deal

RTTNews | vor 799 Tagen
Sensex, Nifty May See Gap-up Opening On Tentative US Debt Deal

(RTTNews) - Indian shares look set to open sharply higher on Monday after U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government's debt ceiling and avert a potential debt default.

It's going to be busy week for markets, with the latest batch of earnings, auto sales numbers for May, GDP data for the March quarter along with PMI and infrastructure output data likely to be in focus as the week progresses.

Adani Ports, Apollo Hospitals Enterprise and IRCTC are among the prominent companies due to report their quarterly earnings results this week.

Asian markets traded higher this morning while the dollar remained elevated as focus shifted to this week's U.S. jobs report for May and the upcoming FOMC meeting in June.

Gold edged lower on improved risk appetite while oil prices rose ahead of next week's OPEC meeting.

U.S. stocks climbed on Friday after reports emerged that lawmakers are closing in on an agreement to raise the U.S. debt ceiling for about two years and avoid a catastrophic default.

In economic releases, inflation and consumer spending accelerated last month, bolstering the case for the Federal Reserve to continue monetary policy tightening.

The tech-heavy Nasdaq Composite and the S&P 500 jumped 2.2 percent and 1.3 percent, respectively to reach their best closing levels in nine months while the Dow gained 1 percent.

European stocks finished higher on Friday, with strong retail sales data from U.K. and the U.S. debt deal hopes helping underpin sentiment.

The pan European STOXX 600 rose 1.2 percent. The German DAX and France's CAC 40 both jumped around 1.2 percent while the U.K.'s FTSE 100 added 0.7 percent.

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.
RTTNews | vor 2Std 21 Minuten
U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.
RTTNews | vor 3Std 7 Minuten
Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.
RTTNews | vor 4Std 14 Minuten
Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.
RTTNews | vor 4Std 26 Minuten
FTSE 100 Advances On Upbeat Earnings

FTSE 100 Advances On Upbeat Earnings

The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.
RTTNews | vor 4Std 54 Minuten
Pound Rises As Traders Await BoE Monetary Policy Meeting

Pound Rises As Traders Await BoE Monetary Policy Meeting

The British pound strengthened against other major currencies in the European session on Tuesday, as traders shift their focus to the Bank of England's (BoE) monetary policy announcement on Thursday.
RTTNews | vor 5Std 5 Minuten
CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French stock market is modestly higher Tuesday afternoon with investors mostly reacting to earnings updates and a mixed batch of regional economic data. Expectations of a rate cut by the Federal Reserve sometime soon aid sentiment a bit.
RTTNews | vor 5Std 25 Minuten