From the Gift Nifty, US jobs statistics, to the Nasdaq rally
Indian stock market:
Following a softer-than-expected US jobs data last week, Asian markets saw increased trading while the US stock market saw a strong surge.Indian stock market: Following a softer-than-expected US jobs data last week, Asian markets saw increased trading while the US stock market saw a strong surge.Indian stock market: On Monday, the local equity indices, the Sensex and Nifty 50, are anticipated to begin trading higher, following a surge in their worldwide counterparts as confidence improves.
Markets in Asia
Asian markets increased in tandem with a Wall Street rise on US job data.The markets in South Korea and Japan are closed for a public holiday. Futures for Hong Kong’s Hang Seng index pointed to a stronger opening. Australia’s S&P/ASX 200 saw a rise of 0.46% in the interim.
Gift Nifty
Present Nifty Gift Nifty was trading at 22,690 today, which was more than 115 points above the previous close of the Nifty futures and suggested that the Indian stock market indices were off to a strong start.
Wall street
A weaker-than-expected jobs report on Friday helped to strengthen the case for US Fed rate reduction, and the US stock market closed the day significantly higher.The S&P 500 increased 63.59 points, or 1.26%, to 5,127.79, while the Dow Jones Industrial Average gained 450.02 points, or 1.18%, to 38,675.68. At 16,156.33, the Nasdaq Composite closed 1.99%, or 315.37 points, higher.
US Payrolls for Nonfarms
The US Bureau of Labour Statistics reports that nonfarm payrolls expanded by 175,000 jobs last month, the fewest in the previous six months. Reuters polled economists, who predicted payrolls would increase by 243,000. The job increases in April fell short of the previous year’s average of 242,000 per month.After increasing 4.1% in March, wages climbed 3.9% in the year ending in April, falling short of forecasts for a 4.0% gain. For the 27th consecutive month, the unemployment rate fell below 4%, increasing to 3.9% from 3.8%.
Officials of the US Federal Reserve
According to Reuters, US Fed Governor Michelle Bowman reaffirmed her readiness to raise interest rates in the event that inflationary trends reverse, while Chicago Fed President Austan Goolsbee stated that the employment report increased confidence in the absence of an overheating economy.
AGM 2024 for Berkshire Hathaway
Under the direction of the Oracle of Omaha, Warren Buffett, the annual meeting of Berkshire Hathaway in 2024 featured a celebration of the legacy left by Buffett and his late friend and longtime business partner Charlie Munger, as well as insights into the company’s investment decisions and succession plans.
Dollar Yields, US Treasury
After falling over 5% vs the yen last week, the US dollar stabilised. Treasury yields also decreased as a result of a weaker-than-expected US payrolls data. The dollar index, which compares the value of the US dollar to six competitors, was at 105.12 on Friday after hitting a three-week low of 104.52.While the yield on US 2-year notes decreased by 6.5 basis points to 4.8119% from 4.877%, the yield on benchmark 10-year notes fell by 6.1 basis points to 4.51%. The 2-year had a weekly decline of around 19 basis points, the largest since early January, while the 10-year saw a weekly decline of approximately 17 basis points, its largest since mid-December.
Oil Costs
Following the largest weekly decline since February, crude oil prices stabilised as Saudi Arabia increased the selling prices of grades to Asia for the third consecutive month.After falling 7.3% the previous week, Brent crude increased 0.01% to $82.97 a barrel, while West Texas Intermediate remained unchanged at $78.11.