Sensex, Nifty Seen Opening Up As Treasury Yields Dip

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(RTTNews) - Indian shares look set to open higher on Friday as soft labor market data from the U.S. dented demand for the dollar and Treasury yields.

That said, continued FII selling amid uncertainty surrounding the outcome of ongoing 2024 Lok Sabha elections may trigger some profit taking at higher levels as the session progresses.

In the Middle East, Israeli Prime Minister Benjamin Netanyahu has rejected international pressure to halt the war in Gaza and declared that the country will "stand alone" in its war against Hamas, if "forced."

On the earnings front, Bank of India, Bank of Baroda, Cipla, Eicher Motors and Tata Motors are among the prominent companies due to unveil their quarterly results today.

Benchmark indexes Sensex and Nifty both plunged around 1.5 percent each on Thursday to extend losses for a third straight session. The rupee inched up by 2 paise to close at 83.50 against the dollar.

Asian markets followed Wall Street higher this morning, the dollar nursed losses while gold held firm above $2,350 per ounce and was on track for a weekly gain on signs of a weakening U.S. jobs market.

Oil also headed for a weekly advance on renewed optimism for U.S. rate cuts.

Overnight, U.S. stocks posted strong gains as data showed the number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, adding to expectations for rate cuts by the Federal Reserve in the coming months.

The Dow climbed 0.9 percent to extend its winning streak to a seventh straight session and reach over one-month closing high.

The S&P 500 gained half a percent and the tech-heavy Nasdaq Composite inched up 0.3 percent.

European stocks extended gains for a fifth consecutive session on Thursday after the Bank of England held interest rates steady but signaled it will cut rates this summer if inflation stays low. The pan European STOXX 600 rose 0.2 percent. The German DAX rallied 1 percent, France's CAC 40 rose 0.7 percent and the U.K.'s FTSE 100 edged up 0.3 percent.

U.S. Homebuilder Confidence Improves Much More Than Expected In November

Homebuilder confidence in the U.S. has improved by much more than anticipated in the month of November, according to a report released by the National Association of Home Builders on Monday. The report said the NAHB/Wells Fargo Housing Market Index climbed to 46 in November after rising to 43 in October. Economists had expected the index to inch up to 44.

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Spirit Airlines Files For Chapter 11 Bankruptcy Protection; Stock Drops

Spirit Airlines, Inc., amid struggles with mounting losses and debt, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. The restructuring is expected to reduce Spirit's debt and provide increased financial flexibility. In an open letter to all Spirit Guests, the company called the process a proactive step to position it...

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Bay Street Likely To Open On Positive Note

Canadian shares may open higher on Monday as energy and materials sectors are likely to attract buyers thanks to firm crude oil and metal prices. With Canadian inflation data due this week, and the Federal Reserve's upcoming policy moves remaining a bit uncertain, the mood is likely to remain somewhat cautious.

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CPI Uptick, Fed Hints Boost Dollar Again

The U.S. dollar rallied against major currencies during the week ended November 15 amidst an expected uptick in consumer price inflation in the U.S. as well as hints from Jerome Powell that the Fed was in no hurry to cut rates.

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Eurozone Trade Surplus Increases In September

The euro area trade surplus increased notably in September as exports to the United States surged ahead of the presidential election in November that saw Donald Trump winning the race. The trade surplus rose to EUR 12.5 billion in September from EUR 9.8 billion in the same period last year, data from Eurostat showed Monday.

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Nvidia's New Blackwell AI Chip Servers Reportedly Overheat

Nvidia Corp.'s new Blackwell AI chips are facing overheating issues that could delay new data centres, The Information reported citing customers, suppliers and employees working on the issue. In pre-market activity on the Nasdaq, the shares were losing around 2.5 percent. The news comes as the world's most valuable company by market capitalization is set to release its third-quarter earnings...

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Thai GDP Expands Most In 2 Years

The Thai economy grew at the fastest pace in two years in the third quarter on strong investment, exports and government spending, data from the Office of the National Economic and Social Development Council showed Monday. Gross domestic product climbed 3.0 percent on a yearly basis after rising revised 2.2 percent in the second quarter.

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Sensex, Nifty End Modestly Lower

Indian shares ended Monday's session modestly lower amid concerns over slowing earnings growth and a weakening rupee amidst continued foreign fund outflows.

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EURUSD	1.05918	GBPUSD	1.267	AUDUSD	0.65068
USDJPY	154.725	USDCAD	1.40108	USDCHF	0.88413