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Home > Stock Market Updates > Market Savera - 14/8/2023
Podcast: Stock Market Updates
Episode:

Market Savera - 14/8/2023
Category: Business
Duration: 00:01:57
Publish Date: 2023-08-14 03:25:52
Description:

The Dow finished Friday with a modest gain for the session and the week, while the S&P 500 index and Nasdaq Composite posted a second straight weekly loss.


U.S. stock indexes closed mostly lower on Friday, losing steam intraday, a trend that’s taken hold in mid-August as technology shares slump, longer-dated Treasury yields rise, and investors consider if corporate earnings can hold up through the rest of this year.


Rising Treasury yields also added to the pressure on stocks. The 10-year note yield was up 8.5 basis points at 4.166% on Friday.


The U.S. producer-price index rose 0.3% in July.


A survey showed U.S. consumer sentiment climbing to the highest level in nearly two years in July with calming inflation and a strong labor market boosting consumers.


India's industrial output grew by 3.7 percent in June, a three-month low. It is also below the consensus estimate of 5 percent.


Asian shares struggled on Monday ahead of China data (retail sales and industrial output) that is likely to amplify the case for serious stimulus.


Nifty fell for the second consecutive session on Aug 11, pulled down by weak global cues. At close, Nifty was down 0.59% or 114.9 points at 19,428.3. 19,300 could be the next support for Nifty while 19,645 could now prove to be a resistance.

Indian markets could open lower, in line with negative Asian markets today and despite mixed US markets on Aug 11.


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