Here are top 8 things to know about stock market before opening.

Here are top 8 things to know about market.

Attention India
4 Min Read

Markets in Asia

Asian markets fell in tandem with Wall Street’s overnight losses and ahead of significant economic data from China.

Hong Kong’s Hang Seng index futures predicted a better opening. South Korea’s Kospi sank 0.11% and the Kosdaq plunged 1.66%. Japan’s Nikkei 225 fell 0.78% and the Topix dropped 0.33%.

Give Nifty 

The Gift Nifty was trading at 22,477, which was roughly 20 points over the previous closing of the Nifty futures. This suggests that the Indian stock market indices are off to a flat to positive start.

Wall

The Dow Jones hit an intraday high of 40,000 for the first time on Thursday, which caused the US stock market to close down.

The S&P 500 dropped 11.05 points, or 0.21%, to 5,297.10, while the Nasdaq Composite finished 44.07 points, or 0.26%, lower at 16,698.32. The Dow Jones Industrial Average slid 38.62 points, or 0.10%, to 39,869.38.

Dow Exceeds 40,000

Amid prospects of US interest rate reduction and robust earnings, the Dow Jones industrial average crossed the 40,000 level for the first time on Thursday, marking a third straight record intraday high. But the blue-chip index pared gains and cooled from record highs to end marginally lower.

The Dow has returned from its October 2022 lows spurred by robust US economic growth despite hefty rate hikes by the Fed. The Dow reached a high of 40,051.05, while the S&P 500 and Nasdaq also achieved record highs in early New York trading before gradually losing pace.

US Unemployment Claims

The number of new claims for state unemployment benefits filed by Americans decreased last week. Seasonally adjusted initial claims for benefits declined by 10,000 to a seasonally adjusted 222,000 for the week ending May 11. Reuters polled economists predicted that 220,000 claims would be filed in the most recent week.

Japan Bank

Governor of the Bank of Japan Kazuo Ueda told lawmakers that the central bank will take time to decide what to do with its enormous holdings of exchange-traded funds (ETFs), including whether to unload them in the future. Reuters noted that Ueda did not have any immediate plans to sell the holdings.

Treasury and Dollar Yields

On Thursday, the US currency and Treasury yields increased. The US dollar index, which compares its value to six other currencies, increased by 0.27% to 104.47. On Thursday, US Treasury yields jumped from nearly six-week lows. The benchmark 10-year yield increased to 4.377%, while the two-year yield increased to 4.793%.

Oil Costs

With the global benchmark Brent oil price expected to rise for the first time in three weeks, crude oil prices saw a rise in trading.

While US West Texas Intermediate (WTI) crude futures increased by 0.2% to $79.41 per barrel, Brent crude oil prices increased by 0.3% to $83.48 a barrel.

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