Pre-Market: Markets to open on a marginally positive note
21/05/2014 08:23
After moving modestly lower in early trading, stocks on the Wall-Street saw further downside over the course of the trading day on Tuesday. The major averages climbed off their worst levels in late-day trading but remained firmly below the neutral line. The Dow tumbled 137.55 points or 0.8 percent to 16,374.31, the NASDAQ fell 28.92 points or 0.7 percent to 4,096.89 and the S&P 500 slid 12.25 points or 0.7 percent to 1,872.83. The early weakness on Wall Street partly reflected disappointing quarterly results from retailers such as Staples (SPLS), Dick's Sporting Goods (DKS), and Home Depot (HD). Selling pressure intensified in afternoon trading partly discounting remarks by Philadelphia Federal Reserve President Charles Plosser. In a speech in Washington, Plosser said the Fed may be required to begin raising interest rates sooner rather than later as inflation moves closer to the 2 percent target and the labor market improves.
The Indian equity benchmark averages are likely to open in green; nonetheless, the gains may remain flat. Markets will be resisting the selling momentum arising from the global peers as mid-caps and small-caps will be in focus resulting from marginal weakness in rupee against dollar; however, the session may remain range bound. The Asian markets have seen heavy selling pressure as Yen maintains firm gains ahead of the Bank of Japan’s monetary policy statement. Hang Seng and Shanghai Composite are trading marginally positive whereas, NIKKEI 225 slumped by 0.30%. (BOJ) Governor Haruhiko Kuroda speaks to reporters today after concluding a two-day meeting at which economists predict the central bank will refrain from expanding unprecedented stimulus. Markets will also be cautious before the FOMC minutes of meeting and Janet Yellen’s speech due today.
21/05/2014 08:23
After moving modestly lower in early trading, stocks on the Wall-Street saw further downside over the course of the trading day on Tuesday. The major averages climbed off their worst levels in late-day trading but remained firmly below the neutral line. The Dow tumbled 137.55 points or 0.8 percent to 16,374.31, the NASDAQ fell 28.92 points or 0.7 percent to 4,096.89 and the S&P 500 slid 12.25 points or 0.7 percent to 1,872.83. The early weakness on Wall Street partly reflected disappointing quarterly results from retailers such as Staples (SPLS), Dick's Sporting Goods (DKS), and Home Depot (HD). Selling pressure intensified in afternoon trading partly discounting remarks by Philadelphia Federal Reserve President Charles Plosser. In a speech in Washington, Plosser said the Fed may be required to begin raising interest rates sooner rather than later as inflation moves closer to the 2 percent target and the labor market improves.
The Indian equity benchmark averages are likely to open in green; nonetheless, the gains may remain flat. Markets will be resisting the selling momentum arising from the global peers as mid-caps and small-caps will be in focus resulting from marginal weakness in rupee against dollar; however, the session may remain range bound. The Asian markets have seen heavy selling pressure as Yen maintains firm gains ahead of the Bank of Japan’s monetary policy statement. Hang Seng and Shanghai Composite are trading marginally positive whereas, NIKKEI 225 slumped by 0.30%. (BOJ) Governor Haruhiko Kuroda speaks to reporters today after concluding a two-day meeting at which economists predict the central bank will refrain from expanding unprecedented stimulus. Markets will also be cautious before the FOMC minutes of meeting and Janet Yellen’s speech due today.
