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Business News/ Photos / Before Market Opens: 9 essential things to know at 9 am on February 13, 2024

Before Market Opens: 9 essential things to know at 9 am on February 13, 2024

Before Market Opens: Indian markets are likely to open flat but in the red on Tuesday despite gains in Asian peers ahead of a key US inflation report. Gift Nifty was trading just 10 points lower, indicating a muted start for benchmark Nifty. Let's take a look at key cues before the opening today:

The Nasdaq slipped on Monday afternoon after briefly surpassing its record closing high from November 2021, while the Dow rose modestly ahead of two U.S. inflation reports this week that could influence Federal Reserve policy. The benchmark S&P 500 closed slightly lower but remained just above the 5,000-point level it crossed on Friday. Traders awaited January's Consumer Price Index (CPI) and Producer Price Index (PPI) this week to gauge prospects for interest rate cuts. The S&P 500 lost 4.12 points, or 0.08%, to end at 5,022.49 points, while the Nasdaq Composite lost 42.74 points, or 0.27%, to 15,947.92. The Dow Jones Industrial Average rose 135.76 points, or 0.35%, to 38,807.45.

1/9The Nasdaq slipped on Monday afternoon after briefly surpassing its record closing high from November 2021, while the Dow rose modestly ahead of two U.S. inflation reports this week that could influence Federal Reserve policy. The benchmark S&P 500 closed slightly lower but remained just above the 5,000-point level it crossed on Friday. Traders awaited January's Consumer Price Index (CPI) and Producer Price Index (PPI) this week to gauge prospects for interest rate cuts. The S&P 500 lost 4.12 points, or 0.08%, to end at 5,022.49 points, while the Nasdaq Composite lost 42.74 points, or 0.27%, to 15,947.92. The Dow Jones Industrial Average rose 135.76 points, or 0.35%, to 38,807.45.

Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key U.S. inflation report that could help shape the Federal Reserve's rates outlook and determine the timing of interest rate cuts. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.15% higher in early trading. The index is down 3% so far in the year. Japan's Nikkei on the other hand has carried on from last year and is up 12% for the year. On Tuesday, the index rose 1.7% to hit a fresh 34-year high on the back of a weak yen which is nearing the closely-watched 150 per dollar level. China's financial markets are closed for the Lunar New Year holiday and will resume trade on Monday, Feb. 19, with Hong Kong markets due to resume on Feb. 14, leaving trading in Asia subdued and taking cues from the Wall Street. (Pixabay)

2/9Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key U.S. inflation report that could help shape the Federal Reserve's rates outlook and determine the timing of interest rate cuts. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.15% higher in early trading. The index is down 3% so far in the year. Japan's Nikkei on the other hand has carried on from last year and is up 12% for the year. On Tuesday, the index rose 1.7% to hit a fresh 34-year high on the back of a weak yen which is nearing the closely-watched 150 per dollar level. China's financial markets are closed for the Lunar New Year holiday and will resume trade on Monday, Feb. 19, with Hong Kong markets due to resume on Feb. 14, leaving trading in Asia subdued and taking cues from the Wall Street. (Pixabay)

On Monday, the Indian stock market indices ended with steep losses amid heavy selling in banking and financial heavyweights, ahead of key macro numbers and mixed global cues. The Sensex plunged 523.00 points, or 0.73%, to close at 71,072.49, while the Nifty 50 settled 166.45 points, or 0.76%, lower at 21,616.05.

3/9On Monday, the Indian stock market indices ended with steep losses amid heavy selling in banking and financial heavyweights, ahead of key macro numbers and mixed global cues. The Sensex plunged 523.00 points, or 0.73%, to close at 71,072.49, while the Nifty 50 settled 166.45 points, or 0.76%, lower at 21,616.05.

At 8:15 am, the GIFT Nifty was trading 10 points or 0.05 percent lower at 21,749, indicating a flat but negative opening for the Indian markets. 

4/9At 8:15 am, the GIFT Nifty was trading 10 points or 0.05 percent lower at 21,749, indicating a flat but negative opening for the Indian markets. 

Bitcoin price hit $50,000 for the first time in more than two years, with the cryptocurrency tripling in value since the start of last year. Bitcoin last traded at $50,000 in December 2021. The price of the world’s largest cryptocurrency was last higher by 0.3% at $49,975, while Ether was up 1.5% at $2,670.80.

5/9Bitcoin price hit $50,000 for the first time in more than two years, with the cryptocurrency tripling in value since the start of last year. Bitcoin last traded at $50,000 in December 2021. The price of the world’s largest cryptocurrency was last higher by 0.3% at $49,975, while Ether was up 1.5% at $2,670.80.

Oil prices were little changed on Tuesday for a second straight day as uncertainty about the pace of potential U.S. interest rate cuts and the impact on fuel demand offset worries about Middle East tensions that could disrupt supply. Brent futures edged 1 cent lower $81.99 a barrel. U.S. West Texas Intermediate (WTI) crude rose 1 cent to $76.93 a barrel. (REUTERS)

6/9Oil prices were little changed on Tuesday for a second straight day as uncertainty about the pace of potential U.S. interest rate cuts and the impact on fuel demand offset worries about Middle East tensions that could disrupt supply. Brent futures edged 1 cent lower $81.99 a barrel. U.S. West Texas Intermediate (WTI) crude rose 1 cent to $76.93 a barrel. (REUTERS)

India’s retail inflation rate decelerated to a three-month low of 5.10% in January 2024 from 5.7% in December 2023, the data released from the Ministry of Statistics and Programme Implementation (MoSPI) said. Meanwhile, India’s industrial output growth edged up to 3.8% in December 2023 from 2.4% in November 2023. For April-December 2023, the Index of Industrial Production (IIP) stood at 6.1% as against 5.5% in April-December 2022, as per the data released by the Ministry of Statistics and Programme Implementation on February 12. (Pixabay)

7/9India’s retail inflation rate decelerated to a three-month low of 5.10% in January 2024 from 5.7% in December 2023, the data released from the Ministry of Statistics and Programme Implementation (MoSPI) said. Meanwhile, India’s industrial output growth edged up to 3.8% in December 2023 from 2.4% in November 2023. For April-December 2023, the Index of Industrial Production (IIP) stood at 6.1% as against 5.5% in April-December 2022, as per the data released by the Ministry of Statistics and Programme Implementation on February 12. (Pixabay)

Foreign institutional investors (FIIs) net bought shares worth  <span class='webrupee'>₹</span>126.60 crore, while domestic institutional investors (DIIs) purchased  <span class='webrupee'>₹</span>1,711.75 crore worth of stocks on February 12, provisional data from the NSE showed.

8/9Foreign institutional investors (FIIs) net bought shares worth 126.60 crore, while domestic institutional investors (DIIs) purchased 1,711.75 crore worth of stocks on February 12, provisional data from the NSE showed.

Gold prices were stuck in a tight range on Tuesday as investors refrained from making big bets ahead of a U.S. inflation report that could give fresh perspective on how soon, and by how much, the Federal Reserve could cut interest rates this year. Spot gold was flat at $2,020.28 per ounce (Oz), as of 0134 GMT, trading in a tight range of $3. U.S. gold futures were almost unchanged at $2,033.90/Oz.

9/9Gold prices were stuck in a tight range on Tuesday as investors refrained from making big bets ahead of a U.S. inflation report that could give fresh perspective on how soon, and by how much, the Federal Reserve could cut interest rates this year. Spot gold was flat at $2,020.28 per ounce (Oz), as of 0134 GMT, trading in a tight range of $3. U.S. gold futures were almost unchanged at $2,033.90/Oz.

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