Global market: US treasury yields to SGX - Key triggers for Indian stock market today
1 min read 29 Mar 2023, 02:15 AM ISTUS indices Dow Jones Industrial Average dipped 0.1 percent while the broad-based S&P 500 slipped 0.2 percent
PremiumUS shares slipped on Tuesday while treasury yields fell after rising and gold rose as investors anticipate higher interest rates by the Federal Reserve in the path ahead. Investors will get a raft of data on the American economy this week, including on the central bank’s preferred measure of inflation, after US consumer confidence unexpectedly improved in March.
US market
The Dow Jones Industrial Average dipped 0.1 percent while the broad-based S&P 500 slipped 0.2 percent. The tech-rich Nasdaq Composite Index lost 0.5 percent. On Monday, most stock markets gained, led by banks after First Citizens Bank acquired large portion of assets of Silicon Valley Bank (SVB).
Indian indices may witness a higher start as SGX Nifty, Singapore Nifty that is the Indian Nifty traded in the Singapore Stock Exchange, indicates a green opening for the Indian stock market today.
Asian stocks
Stocks in Asia were higher on Wednesday as Alibaba’s Hong Kong-listed shares spiked at the open after the Chinese tech giant announced it will split into six business groups.
US treasury yields
The two-year Treasury yield held just above 4% after a rollercoaster month that saw it as high as 5%.
European markets
In Europe, stocks edged lower as French prosecutors said banks including Societe Generale SA and BNP Paribas SA face collective fines of more than 1 billion euros ($1.1 billion) as part of a probe into tax fraud and money laundering.
Gold edges lower
Gold prices edged down on Wednesday as the US dollar steadied. Spot gold was trading 0.2% lower at $1,970.79 per ounce, as of 0050 GMT, after rising 1% on Tuesday. The dollar index was 0.1% higher.
Crude oil
Crude prices rose for a third day in early Asian trade on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply. Oil prices have been rallying after Iraq was forced to halt exports of about 450,000 barrels per day (bpd) from its northern Kurdistan region through Turkey after an arbitration decision confirmed Baghdad's consent was needed to ship the oil, as per Reuters.
(With inputs from agencies)
