Indian Markets Closed For Holiday; Global Markets Edge Up As Trump Pauses Tech Tariffs

RTTNews | 57 days ago
Indian Markets Closed For Holiday; Global Markets Edge Up As Trump Pauses Tech Tariffs

(RTTNews) - Indian stock markets remain closed today for Dr. Baba Saheb Ambedkar Jayanti.

Trading activity of foreign investors, any new developments on the U.S.-China tariff war front along with the latest quarterly earnings announcements may sway sentiment as the week progresses.

On the earnings front, IT majors Wipro and Infosys along with private banking majors HDFC Bank and ICICI Bank are set to publish their financial results this week.

In economic releases, WPI and CPI data are set to be released this week. Domestic markets will remain closed again on Friday due to Good Friday.

Asian markets were broadly higher this morning. Technology stocks were in focus after the Trump administration announced a pause in tariffs for phones, computers and consumer electronics, though officials insisted it was only a pause before new tech tariffs are implemented.

That said, analysts say that the conflicting statements from U.S. officials and policy-on-the run makes it impossible to trade short term.

The dollar slipped against most major currencies while oil steadied above a four-year low.

Gold ticked higher as Goldman Sachs hiked its outlook for gold prices to $3,700 an ounce, citing heightened concerns over the U.S. economy.

U.S. stocks rose sharply on Friday after White House press secretary Karoline Leavitt said President Donald Trump is "optimistic" about reaching a trade deal with China.

However, two senior White House officials told CNN that the U.S. will not reach out to China first and that Chinese President Xi Jinping must request a call with Trump.

Meanwhile, Boston Federal Reserve President Susan assured markets that the Fed is prepared to keep financial markets functioning should the need arise.

On the earnings front, JPMorgan Chase, Morgan Stanley and Wells Fargo all reported better-than-expected profits but warned of a potential economic slowdown due to trade disputes.

In economic news, data showed U.S. consumer sentiment plummeted in April, accompanied by a surge in 12-month inflation expectations to levels unseen since 1981.

The tech-heavy Nasdaq Composite rallied 2.1 percent, the S&P 500 surged 1.8 percent and the Dow added 1.6 percent.

European stocks fell broadly on Friday after logging their biggest one-day gains since 2022 the previous day as Trump delayed new tariffs by 90 days and the EU suspended planned countermeasures.

The pan-European STOXX 600 Index finished marginally lower. The German DAX shed 0.9 percent and France's CAC 40 slipped 0.3 percent while the U.K.'s FTSE 100 rose 0.6 percent after strong GDP data.

read more
Pound Slides On Weak U.K. Employment Data

Pound Slides On Weak U.K. Employment Data

The British pound weakened against other major currencies in the early European session on Tuesday, after the U.K. unemployment rate rose slightly in the three months to April period.
RTTNews | 1h 0min ago
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the early European session on Tuesday.
RTTNews | 1h 21min ago
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | 3h 13min ago
European Economic News Preview: UK Unemployment Data Due

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and industrial production from Italy are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.6 percent in three months to April from 4.5 percent in the preceding period.
RTTNews | 4h 10min ago
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian stock market is doubling its early gains in mid-market trading on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,600 level, with gains in iron ore miners, financial, technology and energy stocks partially offset by weakness in gold miners.
RTTNews | 4h 58min ago
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.
RTTNews | 5h 39min ago