U.S. stock futures declined whereas, the picture for Asian stocks was mixed, with futures for Hong Kong down, those for Japan up and contracts for Australia’s benchmark marginally lower.
The S&P 500 ended the week down 0.3% while the Nasdaq 100 eked out a 0.6% advance.
Inflation concerns persist, with a preliminary University of Michigan sentiment survey showing consumers expect prices to rise at a 3.2% annual rate over the next five to 10 years, a 12-year high. In China inflationary pressure has been in retreat, raising speculation that the central bank may ease monetary policy.
Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.78%. Crude prices fell below $75-mark, while Bitcoin declined below 27,000-level.
At 5:34 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.37% at 18,256.5.
Domestic benchmark indices reversed early losses to close with gains, supported by advances in banking and auto stocks.
The Indian rupee continued its downward trend against the U.S. dollar as a stronger greenback attracted investor attention.
Foreign investors were net buyers for the twelfth straight day and bought equities worth Rs 1,014.06 crore. On the other hand, domestic institutional investors remained sellers for a third day, and sold stocks worth Rs 922.19 crore, the NSE data showed.
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