15 ZEEL
Market Action – Thursday, February 22nd 2024
# Wall Street ends a choppy Wednesday’s session on a mixed note.
# Investors were tuned into the minutes from the January Fed meeting, where the central bank chose to leave the Federal Funds rate at a 23-year high of 5.25% to 5.5%. While this move was widely expected, stocks slumped after Federal Reserve Chair Jerome Powell pushed back on the idea of a March rate cut.
# Gift Nifty is however indicating a solid high open for our stock markets, thanks to Wall Street futures are seen jumping this Thursday morning after a solid earnings report from Nvidia is boosting market sentiment.
In extended trading, Nvidia rallied more than 8% as the chip giant posted record revenue and issued upbeat guidance. AI enthusiasm also continued to support the rally in Nvidia and other technology names
GLOBAL UPDATE:
GIFT Nifty (+86, 22134)
Dow Future (+54, 38666)
Nikkei (+578, 38841)
Hang Seng (+18, 16521)
Dow Jones (+48, 38612)
Nasdaq (-50, 15581)
Bovespa (+115, 130032).
WHAT HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# The Dow Jones (+0.1% at 38,612) and the S&P 500 (+0.1% at 4,981) spent most of the day in negative territory, though a late burst of buying power helped them close higher. The Nasdaq Composite wasn`t as resilient, with the tech-heavy index falling 0.3% to 15,580.
# Despite yesterday’s mixed session, US stocks are still sitting near all-time highs—recently driven up by the continued frenzy over artificial intelligence.
# The CBOE Volatility Index, or Vix, spiked 8.2% to 15.41.
# WTI crude oil prices is seen trading range bound at $78.27 per barrel.
# COMEX Gold aiming to hold its head above the psychological 2000 mark, now at $2027.