Global Market: Weakness is being seen in Gift Nifty. Asia is also soft. Selling was seen in America yesterday. The Nasdaq closed at the day’s low, down nearly 2%. Crude oil has also crossed $77. Yesterday the markets closed with a decline. The markets closed at the lowest levels of the day. Profit booking was seen in tech stocks yesterday. The fear of rising inflation created pressure. The market has lost hope for rate cuts.
pressure in tech stocks
Nvidia shares fell more than 6% yesterday. Nvidia had reached record high on Monday itself. Unveiled new chips for laptops, desktops. Bank of America has downgraded Tesla. Tesla shares fell after the downgrade.
US bond yield
$39 billion in 10-year bonds were sold. Demand has increased the most since 2007. The 10-year bond yield reached 4.69%. The 10-year yield climbed 1% after rates were cut in September. Term premium reached new high after 2015.
CME is expected to reach 5% by February. ING Group 5.5% by the end of 2025 is also possible. The yield reached 5% in October 2023.
US JOLTS Job Openings
The figures stood at 8.09 million in November. The figures reached a six-month high in November. The market had expected 7.7 million. Service PMI stood at 54.1 in December. The market estimate was 53.5. Service price has also increased to 64.4. The market estimate was 57.5.
Where will your eyes be today?
America’s FOMC minutes will be released. Eurozone PPI, consumer confidence figures will come. Fed member Christopher Waller will deliver a speech today. America’s ADP employment figures will come. Consumer credit data figures will also come today itself. US markets will be closed on Thursday in honor of Jimmy Carter.
Asian market
Meanwhile, mixed business is being seen in Asian markets today. GIFT NIFTY is showing a decline of 12.50 points. At the same time, Nikkei is seen around 40,096.63 with a gain of about 0.03 percent. At the same time, Strait Times is showing a growth of 0.64 percent. Taiwan’s market is trading at 23,498.14, down 0.64 percent. Whereas Hang Seng is seen falling by 1.60 percent at the level of 19,135.88. At the same time, Kospi is trading with an increase of 1.28 percent. At the same time, Shanghai Composite is showing a decline of 1.48 percent at the level of 3,182.48.