RSYSTEMS
Market Action – Thursday, February 15th 2024**
Wall Street ends sharply higher after CPI-Fueled clobbering.
Gift Nifty is indicating a comfortably higher open for our stock markets as bulls likely to take over the positive baton after Wednesday morning’s US inflation-fueled selloff.
GLOBAL UPDATE:
GIFT Nifty (+74, 21987)
Dow Future (-13, 38441)
Nikkei (+277, 37983)
Hang Seng (-55, 15824)
Dow Jones (+152, 38424)
Nasdaq (+204, 15859)
Bovespa (-0.79%, 127018).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
As for the main US indexes, the Nasdaq Composite rose 1.3% to 15,859, the S&P 500 added 1.0% to 5,000, and the Dow Jones Industrial Average gained 0.4% to 38,424.
Helping lift sentiment were relatively dovish comments from Chicago Fed President Austan Goolsbee, who said investors shouldn`t "get amped up" about one Consumer Price Index (CPI) reading that came in higher than expected.
Please note, all the three main indexes tumbled more than 1% Tuesday after a hotter-than-anticipated January CPI report drastically lowered expectations for a Fed rate cut at both the March and May meetings.
The US CPI inflation was up at 3.1% in January, compared to economists` expectations at 2.9%’.
WTI crude oil have dipped below $77 per barrel, ending a series of seven consecutive gains.