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U.S. stocks finished higher on Tuesday, with the S&P 500 and the Nasdaq Composite scoring their biggest four-day rally of 2024 after softer-than-expected producer-price data strengthened bets that the Federal Reserve will commence cutting interest rates in September.
Investors now await all-important consumer-price figures for July on Wednesday and retail sales data on Thursday to firm bets on an aggressive rate cut by the U.S. central bank.
Nykaa acquires majority stake in Earth Rhythm, raises stake in Dot & Key
Coal India to supply more coal to power plants than annual contracted quantity
SBI aims to sell its Yes Bank stake worth Rs 18, 420 cr by end-March
Stocks in Asia followed a rally on Wall Street as bets rose that the upcoming US consumer price report will give the Federal Reserve confidence to start cutting rates in September.
Nifty ended lower for the second consecutive session on August 13. At close, Nifty was down 0.85% or 208 points at 24139. The downgaps formed on Aug 02 and Aug 05 remain unfilled. 24347 could provide resistance in the near term.
Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Aug 13 |
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