12 UPLMarket Action – Today, February 9th 2024**
Wall Street ends gains in Thursday’s trade, with the S&P 500 scaling 5000 milestone for the first time in intraday trading.
Gift Nifty treading water in early action indicating an up-and-down session is quite likely.
GLOBAL UPDATE:
# GIFT Nifty (-70, 21760)
# Dow Future (-25, 38702)
# Nikkei (+280, 37065)
# Hang Seng (-169, 15709)
# Dow Jones (+49, 38726)
# Nasdaq (+37, 15794)
# Bovespa (-1733, 128217).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# US equities, the main indexes carved out notable gains Thursday, but digging deeper, stocks were choppy as investors took in an onslaught of corporate earnings reports and as caution could also be setting in ahead of next week`s key inflation update, especially as expectations for a March or May rate cut have dropped dramatically in recent days.
# Futures traders are currently pricing in an 18% chance the Fed will cut rates by a quarter-percentage point in March, down from 53% one week ago. The odds for a May cut are 53%.
# But the positive takeaway was that all the indices managed to end with gains by the close.
# The Dow Jones rose 0.1% to 38,726 and the S&P 500 struggled against the psychologically significant 5,000 level, briefly toppling it in intraday action before closing just below here at 4,997. The Nasdaq Composite tacked on 0.2% to 15,793.
# The 10-year US Treasury bond yields last traded towards 4.1482 levels.
# The US Dollar stands inched up towards 104.15 levels.Result Today3BBLACKBIO
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