Sensex, Nifty Set To Fall On US Recession Fears

RTTNews | 830 days ago
Sensex, Nifty Set To Fall On US Recession Fears

(RTTNews) - Indian shares look set to open lower on Thursday after a slew of data showed the U.S. economy was rapidly losing momentum towards the end of last year.

Private sector banks could be in focus today after IndusInd Bank beat forecasts with a 53 percent rise in Q3 profit.

Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Wednesday to extend gains for a second day running while the rupee gained 4 paise to close at 81.25 against the dollar.

Asian markets traded mostly lower this morning on fears the U.S. economy may fall into recession in the first half of this year.

The dollar rose against a basket of currencies as risk-aversion gripped global markets. Gold and oil prices were slightly lower on dollar strength. U.S. 10-year Treasury yields stabilized after falling to a four-month low on Wednesday.

U.S. stocks reversed course to end sharply lower overnight, as investors reacted to weak economic data and comments from St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester expressing support for raising rates beyond 5 percent.

Retail sales, producer prices and production at U.S. factories fell more than expected in December, rekindling concerns over the outlook for growth and corporate earnings.

The Dow plunged 1.8 percent, the tech-heavy Nasdaq Composite lost 1.2 percent and the S&P 500 shed 1.6 percent.

European stocks ended mixed on Wednesday, as China ramped up COVID preparations ahead of the Lunar New Year holidays and data showed inflation in the United Kingdom eased further for the second consecutive month.

The pan European STOXX 600 rose 0.2 percent to extend its winning streak for a sixth straight session as IMF chief said growth will bottom out in 2023.

The German DAX finished marginally lower and the U.K.'s FTSE 100 slipped 0.3 percent while France's CAC 40 index ended flat with a positive bias.

read more
Domino's Pizza Q1 Earnings Beat, Revenues Miss, U.S. Same Store Sales Down; Stock Drops

Domino's Pizza Q1 Earnings Beat, Revenues Miss, U.S. Same Store Sales Down; Stock Drops

Domino's Pizza Inc. announced Monday higher earnings in its first quarter, above market estimates, amid revenue growth. Meanwhile, the largest pizza company in the world recorded weak income from operations and U.S. same store sales, and its top line missed the Street view. In pre-market activity on the Nasdaq, Domino's Pizza shares were losing around 2.6 percent.
RTTNews | 4h 39min ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

The Canadian market is likely to open on a mixed note on Monday with investors mostly making cautious moves, as the nation goes to the polls today.
RTTNews | 4h 47min ago
Pound Rises As European Shares Traded Higher

Pound Rises As European Shares Traded Higher

The British pound strengthened against other major currencies in the European session on Monday amid increased risk appetite, as tariff tensions eased and investors looked ahead to a busy week of earnings, with four of the Magnificent Seven companies— Amazon, Apple, Meta Platforms and Microsoft — due to report their quarterly results.
RTTNews | 5h 26min ago
Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Monday.
RTTNews | 5h 52min ago
FTSE Up Marginally In Cautious Trade

FTSE Up Marginally In Cautious Trade

The U.K. market is marginally up at noon on Monday with investors making some selective purchases ahead of a slew of corporate earnings announcements and some crucial economic data this week. Optimism about U.S. and China striking a trade deal sometime soon is also contributing to the positive mood in the market.
RTTNews | 6h 17min ago
CAC 40 Notably Higher; Airbus Rises Nearly 2.5%

CAC 40 Notably Higher; Airbus Rises Nearly 2.5%

French stocks are gaining ground in positive territory on Monday with investors indulging in some brisk buying at several counters ahead of key earnings updates and some crucial economic data from the U.S. and Europe due this week.
RTTNews | 6h 52min ago
DAX Rises Nearly 1% As Investors Await Corporate Earnings Updates

DAX Rises Nearly 1% As Investors Await Corporate Earnings Updates

The German market is up firmly in positive territory on Monday as investors pick up stocks ahead of a slew of earnings announcements, and some crucial economic data due this week. Optimism about an improvement in U.S.-China trade relations also appears to be supporting the market.
RTTNews | 7h 23min ago