Market Action – Monday, April 1st 2024
# In Thursday’s trade at Wall Street, US stocks mostly wavered amidst long holiday weekend.
# In early action, Gift Nifty is above the dotted lines as Nifty bulls will aim to take over the positive baton from last week’s strong close.
# The positive catalyst: the Fed`s preferred measure of inflation (which trickled in on Good Friday), the Personal Consumption Expenditures Index is in line with average expectations and below the previous month`s readings.
GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (+42, 22531)
# Dow Future (+149, 39957)
# Nikkei (-39, 40335)
# Hang Seng (+149, 16541)
# Dow Jones (+47, 39807)
# Nasdaq (-20, 16379)
# Bovespa (+415, 128106).
WHAT EXACTLY HAPPENED AT WALL STREET IN THURSDAY’S TRADE:
# As for Thursday, US stocks mostly struggled for direction on relatively light volume. The S&P 500 added 0.1% to finish at 5,254, while the Nasdaq slipped 0.1% to 16,379. The Dow gained 0.1% to close at 39,807.
# Fed Governor Christopher Waller insisted that there is still no rush to cut interest rates cast something of a hawkish pall over the session.
# Meanwhile, the S&P 500 enjoyed its best first quarter in five years with a gain of more than 10%. The tech-heavy Nasdaq Composite flared up 9%, while the blue-chip Dow Jones Industrial Average rose almost 6%.
# The 10-year Treasury yield was hovering at 4.2030 levels.
# WTI crude oil prices were seen trading firm at $83.80 per barrel.
# COMEX Gold flared up towards $2,250.
# US Nonfarm payrolls report to trickle in on Friday, April 5th will be anxiously awaited.
Securities in Ban For Trade Date 01-APR-2024: