Before Market Opens: 9 things to know at 9 am on November 10, 2023

U.S. stocks closed lower on Thursday, snapping the longest winning streaks for the Nasdaq and S&P 500 in two years, as Treasury yields climbed after a disappointing auction of 30-year bonds and comments from Federal Reserve Chair Jerome Powell. Powell said central bank officials are not confident interest rates are high enough to tame inflation, and may not get much more help from improvements in the supply of goods, services and labor. The Dow Jones Industrial Average fell 220.59 points, or 0.65%, to 33,891.68, the S&P 500 lost 35.46 points, or 0.81%, to 4,347.32 and the Nasdaq Composite dropped 128.97 points, or 0.94%, to 13,521.45. (REUTERS)

1/9U.S. stocks closed lower on Thursday, snapping the longest winning streaks for the Nasdaq and S&P 500 in two years, as Treasury yields climbed after a disappointing auction of 30-year bonds and comments from Federal Reserve Chair Jerome Powell. Powell said central bank officials are not confident interest rates are high enough to tame inflation, and may not get much more help from improvements in the supply of goods, services and labor. The Dow Jones Industrial Average fell 220.59 points, or 0.65%, to 33,891.68, the S&P 500 lost 35.46 points, or 0.81%, to 4,347.32 and the Nasdaq Composite dropped 128.97 points, or 0.94%, to 13,521.45. (REUTERS)

Asia-Pacific markets opened softer on November 10, retreating from small gains made in the previous session amid a downbeat tone set by US markets overnight. Japan’s Nikkei 225 fell 0.76 percent, after gains of nearly 1.5 percent in the prior session. The Topix dropped 0.49 percent at open. South Korea’s Kospi opened 0.83 percent lower, also down after gains on Thursday, while the Kosdaq shed 1.13 percent at open. In Australia, the S&P/ASX 200 traded 0.49 percent lower. Futures for Hong Kong’s Hang Seng index stood at 17,546, pointing to a slightly stronger open compared with the HSI’s close of 17,511.29.

2/9Asia-Pacific markets opened softer on November 10, retreating from small gains made in the previous session amid a downbeat tone set by US markets overnight. Japan’s Nikkei 225 fell 0.76 percent, after gains of nearly 1.5 percent in the prior session. The Topix dropped 0.49 percent at open. South Korea’s Kospi opened 0.83 percent lower, also down after gains on Thursday, while the Kosdaq shed 1.13 percent at open. In Australia, the S&P/ASX 200 traded 0.49 percent lower. Futures for Hong Kong’s Hang Seng index stood at 17,546, pointing to a slightly stronger open compared with the HSI’s close of 17,511.29.

Domestic equity benchmarks Nifty 50 and Sensex settled lower on Thursday, November 9, over weak global cues as the rally in financial and IT stocks cooled down since the US Federal Reserve's rate pause decision. In a volatile trade, the 30-share BSE Sensex declined 143.41 points or 0.22 per cent to settle at 64,832.20. During the day, it fell 206.85 points or 0.31 per cent to 64,768.76. The broader Nifty 50 dipped 48.20 points or 0.25 per cent to 19,395.30. In the broader market, the BSE smallcap gauge declined 0.27 per cent while the midcap index gained 0.06 per cent.

3/9Domestic equity benchmarks Nifty 50 and Sensex settled lower on Thursday, November 9, over weak global cues as the rally in financial and IT stocks cooled down since the US Federal Reserve's rate pause decision. In a volatile trade, the 30-share BSE Sensex declined 143.41 points or 0.22 per cent to settle at 64,832.20. During the day, it fell 206.85 points or 0.31 per cent to 64,768.76. The broader Nifty 50 dipped 48.20 points or 0.25 per cent to 19,395.30. In the broader market, the BSE smallcap gauge declined 0.27 per cent while the midcap index gained 0.06 per cent.

4/9At 8:20 am, the GIFT Nifty was trading 35 points or 0.18 percent lower at 19,387, indicating a negative opening for the Indian markets.

Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world’s two biggest oil consumers. Brent crude futures rose 42 cents, or 0.5 percent, to $79.96 a barrel. US West Texas Intermediate (WTI) crude futures climbed 36 cents, or 0.5 percent, at $75.69 a barrel.The uptick came after both benchmarks fell more than 2 percent to their lowest since mid-July on Wednesday, as worry over possible supply disruptions in the Middle East eased and concern over US and Chinese demand intensified. (AFP)

5/9Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world’s two biggest oil consumers. Brent crude futures rose 42 cents, or 0.5 percent, to $79.96 a barrel. US West Texas Intermediate (WTI) crude futures climbed 36 cents, or 0.5 percent, at $75.69 a barrel.The uptick came after both benchmarks fell more than 2 percent to their lowest since mid-July on Wednesday, as worry over possible supply disruptions in the Middle East eased and concern over US and Chinese demand intensified. (AFP)

Not fearing equity market valuation, investors poured money in equity funds in the month of October, as per data released by Association of Mutual Funds of India (AMFI; the mutual funds' industry trade body). Aside from an increase in net flows across all categories of equity funds, small-cap mutual fund (MF) schemes got inflows worth <span class='webrupee'>₹</span>4,495 crore in October 2023, up from <span class='webrupee'>₹</span>2,678 crore a month before. Overall, equity funds got inflows worth <span class='webrupee'>₹</span>19,957 crore, up from <span class='webrupee'>₹</span>14,091 crore in September. The month of October saw the third-highest monthly inflow into equity funds in the year of 2023. October was also the fourth month where all equity fund categories got positive net inflows (more money came in, than went out).

6/9Not fearing equity market valuation, investors poured money in equity funds in the month of October, as per data released by Association of Mutual Funds of India (AMFI; the mutual funds' industry trade body). Aside from an increase in net flows across all categories of equity funds, small-cap mutual fund (MF) schemes got inflows worth ₹4,495 crore in October 2023, up from ₹2,678 crore a month before. Overall, equity funds got inflows worth ₹19,957 crore, up from ₹14,091 crore in September. The month of October saw the third-highest monthly inflow into equity funds in the year of 2023. October was also the fourth month where all equity fund categories got positive net inflows (more money came in, than went out).

The Indian rupee ended Thursday's range-bound session little changed against the US dollar amid a negative trend in domestic equities and sustained foreign fund outflows. The local unit ended 1 paise lower at 83.28 a dollar as compared to its previous close of 83.27. The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.01% at 105.58.

7/9The Indian rupee ended Thursday's range-bound session little changed against the US dollar amid a negative trend in domestic equities and sustained foreign fund outflows. The local unit ended 1 paise lower at 83.28 a dollar as compared to its previous close of 83.27. The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.01% at 105.58.

Foreign institutional investors offloaded shares worth <span class='webrupee'>₹</span>1,712.33 crore, while domestic institutional investors bought <span class='webrupee'>₹</span>1,512.14 crore worth of stocks on November 9, provisional data from the National Stock Exchange showed.

8/9Foreign institutional investors offloaded shares worth ₹1,712.33 crore, while domestic institutional investors bought ₹1,512.14 crore worth of stocks on November 9, provisional data from the National Stock Exchange showed.

Gold prices were flat on Friday and on track for their worst week in more than a month, weighed down by a stronger U.S. dollar and Treasury yields after hawkish remarks from Federal Reserve Chair Jerome Powell. Spot gold was little changed at $1,959.74 per ounce by 0127 GMT after hitting its lowest since Oct. 18 on Thursday. U.S. gold futures fell 0.3% to $1,964.50. Gold was also set for the second straight week of losses, down 1.6% so far this week.

9/9Gold prices were flat on Friday and on track for their worst week in more than a month, weighed down by a stronger U.S. dollar and Treasury yields after hawkish remarks from Federal Reserve Chair Jerome Powell. Spot gold was little changed at $1,959.74 per ounce by 0127 GMT after hitting its lowest since Oct. 18 on Thursday. U.S. gold futures fell 0.3% to $1,964.50. Gold was also set for the second straight week of losses, down 1.6% so far this week.

Before Market Opens: 9 things to know at 9 am on November 10, 2023

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