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3οΈβ£ Things that will decide the Market today π
1) SGX NIFTY signals a negative start for the Indian Market
- Nifty futures on the Singapore Exchange traded 30 points lower to 17,545, signalling that the Indian Stock Market is headed for a negative start.
2) US indices fall, Asian shares mock the same
- Major US indices on Tuesday, dropped below 200 points, breaking it's 4-day winning streak. The decline comes post spike in the oil prices and a great decline in the job market, which fell below 10 million open positions since 2-years, signalling economic slowdown. Asian markets replicated the same, starting the day on a pessimistic note.
3) Oil prices surge
- Oil prices rose in early Asian trade on Wednesday on anticipated U.S. crude inventory declines and OPEC+'s latest output cut targets. Brent crude futures gained 38 cents to $85.32/barrel, while WTI U.S. crude was up 33 cents to $81.04/barrel.
