Indian Shares Set To Rise After Wall Street Rally

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(RTTNews) - Indian shares look set to open notably higher on Thursday after Wall Street clawed back from a three-week long sell-off and oil prices fell to levels not seen before Russia's invasion of Ukraine on demand worries.

Benchmark indexes Sensex and the Nifty ended Wednesday's session modestly lower while the rupee declined by 7 paise to close at 79.89 against the greenback.

Asia markets traded mostly higher this morning, though Chinese and Hong Kong stocks were subdued as Chengdu, capital of the southwestern Chinese province of Sichuan, extended the lockdown of most of its districts to stem further transmission of Covid-19 cases in the city.

The dollar resumed climb ahead of the ECB rate-decision and Fed Chair Jerome Powell's speech later in the day.

Gold prices were subdued, while oil prices rose about 1 percent after falling sharply to reach seven-month lows in the U.S. trading session.

U.S. stocks rose sharply overnight, as oil prices slumped and Treasury yields pulled back, helping cool investor concerns about inflation and interest-rate hikes.

Investors also reacted to the Fed's Beige Book report showing weak growth outlook and Fed Vice Chair Lael Brainard's comments on bringing inflation down without going too far.

The tech-heavy Nasdaq Composite rallied 2.1 percent to snap a seven-day losing streak, while the Dow climbed 1.4 percent and the S&P 500 added 1.8 percent.

European stocks ended mixed on Wednesday as weak economic data from China and the euro area coupled with the ongoing energy crisis exacerbated fears of a recession.

The pan European Stoxx 600 dropped 0.6 percent. The German DAX rose 0.4 percent and France's CAC 40 finished marginally higher while the U.K.'s FTSE 100 shed 0.9 percent.

TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns

The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment. Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.

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Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.

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U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns

U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.

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Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.

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U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.

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European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns

European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.

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Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.

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U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.

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EURUSD	1.02441	GBPUSD	1.22097	AUDUSD	0.61461
USDJPY	157.737	USDCAD	1.44282	USDCHF	0.91664