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Business News/ Photos / Before Market Opens: 9 things to know at 9 am on December 6, 2023

Before Market Opens: 9 things to know at 9 am on December 6, 2023

Indian markets are likely to open at new highs with Nifty crossing 21,000 on Wednesday following gains in Asian peers as bonds and the dollar steadied. Meanwhile, Gift Nifty was trading 43 points higher, indicating a strong start. Let's take a look at some key cues before the market opens today:

Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the US Federal Reserve will cut interest rates as soon as March. The S&P 500 declined 0.06 percent to end the session at 4,567.18 points. The Nasdaq gained 0.31 percent to 14,229.91 points, while Dow Jones Industrial Average declined 0.22 percent to 36,124.56 points. (REUTERS)

1/9Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the US Federal Reserve will cut interest rates as soon as March. The S&P 500 declined 0.06 percent to end the session at 4,567.18 points. The Nasdaq gained 0.31 percent to 14,229.91 points, while Dow Jones Industrial Average declined 0.22 percent to 36,124.56 points. (REUTERS)

Asian markets traded higher as US Treasury yields dropped after the slowdown in the labor market increased expectations that the US Federal Reserve will be able to cut interest rates next year. Japan’s Nikkei 225 rose 0.86%, while the Topix gained 0.7%. South Korea’s Kospi advanced 0.18% and the Kosdaq was up 0.43%. Hong Kong’s Hang Seng index futures pointed to a stronger open. Australia’s S&P/ASX 200 rallied 0.73%.

2/9Asian markets traded higher as US Treasury yields dropped after the slowdown in the labor market increased expectations that the US Federal Reserve will be able to cut interest rates next year. Japan’s Nikkei 225 rose 0.86%, while the Topix gained 0.7%. South Korea’s Kospi advanced 0.18% and the Kosdaq was up 0.43%. Hong Kong’s Hang Seng index futures pointed to a stronger open. Australia’s S&P/ASX 200 rallied 0.73%.

Frontline indices Nifty 50 and Sensex settled at their fresh closing highs on Tuesday, December 5, on gains led by banking and energy stocks as market sentiment remained upbeat following strong macro numbers and BJP's victory in the three large states. Nifty 50 closed at 20,855.10, up 168 points, or 0.81 per cent while the Sensex clocked a gain of 431 points, or 0.63 per cent, to end at 69,296.14. With this, both the indices extended their winning streak into the sixth consecutive session. 

3/9Frontline indices Nifty 50 and Sensex settled at their fresh closing highs on Tuesday, December 5, on gains led by banking and energy stocks as market sentiment remained upbeat following strong macro numbers and BJP's victory in the three large states. Nifty 50 closed at 20,855.10, up 168 points, or 0.81 per cent while the Sensex clocked a gain of 431 points, or 0.63 per cent, to end at 69,296.14. With this, both the indices extended their winning streak into the sixth consecutive session. 

At 8:20 am, the GIFT Nifty was trading 43 points or 0.20 percent lower at 21,047, indicating a record-high opening for the Indian markets. 

4/9At 8:20 am, the GIFT Nifty was trading 43 points or 0.20 percent lower at 21,047, indicating a record-high opening for the Indian markets. 

Oil prices fell in Wednesday Asian morning trading as markets continue to doubt the impact of OPEC+ cuts and take cues from a worsening demand outlook in China. Brent crude futures fell 8 cents, or 0.1%, to $77.12 a barrel by 0101 GMT. U.S. WTI crude futures were down 13 cents, or 0.2%, at $72.19 a barrel. Both benchmarks closed at their lowest level since July 6 in the previous session, with WTI seeing four consecutive days of declines. (Reuters)

5/9Oil prices fell in Wednesday Asian morning trading as markets continue to doubt the impact of OPEC+ cuts and take cues from a worsening demand outlook in China. Brent crude futures fell 8 cents, or 0.1%, to $77.12 a barrel by 0101 GMT. U.S. WTI crude futures were down 13 cents, or 0.2%, at $72.19 a barrel. Both benchmarks closed at their lowest level since July 6 in the previous session, with WTI seeing four consecutive days of declines. (Reuters)

US employers posted 8.7 million job openings in October, the fewest since March 2021, in a sign that hiring is cooling in the face of higher interest rates yet remains at a still-healthy pace. The Labor Department's report said Tuesday that openings were down significantly from 9.4 million in September. Layoffs were up modestly in October. And the number of Americans who quit their jobs which generally reflects confidence in their ability to find better pay or working conditions elsewhere was down slightly. Despite dropping in October, job openings remain at historically high levels. They have now exceeded 8 million for 32 straight months a threshold they had never reached before 2021. (AFP<br />)

6/9US employers posted 8.7 million job openings in October, the fewest since March 2021, in a sign that hiring is cooling in the face of higher interest rates yet remains at a still-healthy pace. The Labor Department's report said Tuesday that openings were down significantly from 9.4 million in September. Layoffs were up modestly in October. And the number of Americans who quit their jobs which generally reflects confidence in their ability to find better pay or working conditions elsewhere was down slightly. Despite dropping in October, job openings remain at historically high levels. They have now exceeded 8 million for 32 straight months a threshold they had never reached before 2021. (AFP
)

The rupee ended little changed against the US dollar on Tuesday as likely intervention by the central bank offset local demand for the greenback. The local currency ended at 83.38 a dollar as compared to previous close of 83.37.

7/9The rupee ended little changed against the US dollar on Tuesday as likely intervention by the central bank offset local demand for the greenback. The local currency ended at 83.38 a dollar as compared to previous close of 83.37.

Foreign institutional investors (FIIs) bought shares worth  <span class='webrupee'>₹</span>5,223.51 crore, while domestic institutional investors (DIIs) sold  <span class='webrupee'>₹</span>1,399.18 crore worth of stocks on December 5, provisional data from the National Stock Exchange (NSE) showed.

8/9Foreign institutional investors (FIIs) bought shares worth 5,223.51 crore, while domestic institutional investors (DIIs) sold 1,399.18 crore worth of stocks on December 5, provisional data from the National Stock Exchange (NSE) showed.

Gold slipped on Tuesday after hitting an all-time high in the previous session as the dollar regained footing and investors refrained from making big bets ahead of key US jobs data that could offer more clarity on US interest rate path. Spot gold was down 0.4 percent at $2,018.29 per ounce by 9:45am ET (1445 GMT). Bullion had climbed to a record high of $2,135.40 on Monday, before dropping more than $100 in a single day to close 2% lower. US gold futures fell 0.3 percent to $2,036.80.

9/9Gold slipped on Tuesday after hitting an all-time high in the previous session as the dollar regained footing and investors refrained from making big bets ahead of key US jobs data that could offer more clarity on US interest rate path. Spot gold was down 0.4 percent at $2,018.29 per ounce by 9:45am ET (1445 GMT). Bullion had climbed to a record high of $2,135.40 on Monday, before dropping more than $100 in a single day to close 2% lower. US gold futures fell 0.3 percent to $2,036.80.

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