Sensex, Nifty Seen Opening Little Changed

RTTNews | 468 dni temu

(RTTNews) - Indian shares are seen opening little changed on Wednesday as investors react to disappointing Bharti Airtel's quarterly results and the latest MSCI rejig that has seen the inclusion of stocks like Indus Towers, NHPC and Canara Bank in the India index.

The U.S. producer price inflation report has generated renewed uncertainty about the outlook for interest rates, but some economists have pointed to the downward revisions to the March data as a positive sign.

Benchmark indexes Sensex and Nifty rose around half a percent each on Tuesday while the rupee settled on a flat note at 83.51 against the dollar in listless trade.

Asian markets traded mixed this morning ahead of the release of key U.S. CPI report later in the day.

China vowed to defend its interests after U.S. President Joe Biden imposed heavy tariffs on Chinese products including batteries, EVs, steel, solar cells, and aluminum.

The dollar drifted lower in Asian trading and gold was marginally lower while oil prices rose after an industry report pointed to shrinking U.S. stockpiles.

U.S. stocks fluctuated before finishing higher overnight as Treasury yields moved to the downside after initially moving higher in response to data showing an unexpected increase in producer prices.

Data showed the producer price index for final demand rose 0.5 percent in April from a month earlier after a downwardly revised 0.1 percent drop in March.

The annual rate of producer price growth accelerated to 2.2 percent as expected after climbing 1.8 percent in March.

Federal Reserve Chair Jerome Powell described the producer price index report as more mixed than hot, adding he doesn't expect the next move to be a rate hike.

Powell cited 'lack of progress' on price pressures and said the central bank needs to "be patient and let restrictive policy do its work."

The tech-heavy Nasdaq Composite jumped 0.8 percent to a new record closing high while the Dow inched up 0.3 percent and the S&P 500 added half a percent.

European stocks closed at a record high on Tuesday as investors pondered the outlook for rates.

The pan European STOXX 600 rose 0.2 percent. The German DAX slipped 0.1 percent while France's CAC 40 and the U.K.'s FTSE 100 both edged up 0.2 percent.

U.S. Consumer Confidence Index Edges Lower In August

A report released by the Conference Board on Tuesday showing a modest deterioration by consumer confidence in the U.S. in the month of August. The Conference Board said its consumer confidence index dipped to 97.4 in August from an upwardly revised 98.7 in July.

RTTNews | 2g 31 minut temu

U.S. Durable Goods Orders Slump 2.8% In July, Much Less Than Expected

Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July. The Commerce Department said durable goods orders slumped by 2.8 percent in July after plummeting by a revised 9.4 percent in June.

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