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Excellent signals are coming from the global market. Asia started strongly. GIFT Nifty jumped by around 100 points. The US markets closed with a strong gain yesterday. Nasdaq rose 2 percent while the S&P 500 index rose 1 percent. The higher-than-expected inflation rate did not have much impact. The US markets closed with good gains on Wednesday. Despite the initial decline, the US market closed at the highest level of the day. Nasdaq closed at 17395, up 369 points. The Dow rose by 125 points and the S&P 500 index rose by 59 points. On the other hand, the Dow closed up by around 800 points from the day's low.
US core CPI was slightly higher than expected. US core CPI is at a 3-year low of 3.2%. US retail inflation came in at 2.5% against the 2.6% estimate. US retail inflation reached its lowest level since February 2021. US Fed may cut rates by 25 basis points. Most Asian markets saw a rise. Nikkei is showing a rise of about 2.5%. Brent crude price is trading near $71 per barrel.
Asian Markets
Meanwhile, Asian markets are trading with a gain today. GIFT NIFTY is showing a gain of 95.00 points. At the same time, the Nikkei is seen around 36,565.42 with a gain of around 2.63 per cent. At the same time, Strait Times is showing a gain of 0.25 per cent. Taiwan market is trading at 21,588.74, up 2.65 per cent. While Hang Seng is seen at 17,133.48 with a gain of 0.14 per cent. At the same time, KOSPI is trading at 2,545.20 with a gain of 1.27 per cent. At the same time, the Shanghai Composite is seen trading flat.
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