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Emkay Global Financial Servicestold Mint. While nobody knows what Powell will say today, his speech may have a hawkish tone. The Fed is expected to take into account the recent macroeconomic trends which show the US labour market remains tight and inflation still significantly above its 2 per cent target.

Gold rate today: On account of US dollar gaining strength and US dollar index climbing up to 11-week high of 104.25 levels, gold prices in international and domestic market continue to trade flat. Gold future contract on Multi Commodity Exchange (MCX) for October 2023 expiry opened lower at ₹58,743 per 10 gm levels and went on to hit intraday low of ₹58,696 levels.

₹1,524.87 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹5,796.61 crore, as per provisional data available on the exchanges.

Fed Chair Jerome Powell's speech at a global central bank gathering. Selling was seen across all sectors. The BSE Sensex was trading 445 points or 0.68% lower at 64,807.

Jerome Powell delivers a high-profile speech Friday in Jackson Hole, Wyoming, many analysts think he could make one thing clear: That the Fed plans to keep its benchmark interest rate at a peak level for longer than had been expected. Powell isn't likely to say whether the Fed will continue raising rates. But he may signal that any rate cuts are unlikely until well into next year.

Also Read: Nvidia share price hits all time-high, short sellers lose $826 million On Thursday, around 321,000 Disney options contracts were traded, which was 1.4 times the average daily volume, according to data from options analytics firm Trade Alert. Trading sentiment leaned toward bearish bets with put options that would guard against the stock slipping below 80 by mid-September and mid-October, and were among the most actively traded contracts, Reuters reported.

Indian stock market is expected to open lower on Friday tracking losses in global peers amid a rise in US Treasury yields as traders await Federal Chairman Reserve Jerome Powell’s speech for clues on the interest rate outlook. Asian markets traded lower, while US stocks ended in the red on Thursday as investors sentiment turned cautious. On Thursday, the Indian benchmark equity indices, Sensex and Nifty, closed lower on profit booking in shares of select heavyweights.

Also Read: 5 things that changed for market overnight: Gift Nifty, Jerome Powell’s speech to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: The Nifty remained under the bear's grip as selling pressure emerged around the day's high, which resulted in a decline below 19,500. “On the upper side, resistance is expected to persist in the range of 19,450-19,500. A definitive breakout or a closing above 19,500 could potentially trigger a rally in the index.

Federal Reserve Chair Jerome Powell to gauge the path of monetary policy. Investors will parse through Powell's address on monetary policy at the Jackson Hole Economic Policy Symposium at 10:05 a.m. ET (1405 GMT) to better understand whether the Fed is done with rate hikes and how long it plans to keep rates elevated. The dollar index, which measures the U.S.

World stocks receded on Thursday as investors took a breather after bets that tech darling Nvidia will deliver blockbuster results paid off, while Treasury bond yields edged back higher following a big sell-off. Profit-taking weighed on shares across the board, with the MSCI All Country stock index dropping 0.91%. In the United States, the Dow Jones lost 1.08%, the S&P 500 fell 1.35% and the Nasdaq Composite slid 1.9%.

Gold prices steadied near two-week highs on Friday and was headed for their best week in six as U.S. Treasury yields backed off highs ahead of speeches by top central bankers including Fed Chair Jerome Powell that could guide on future interest rates. FUNDAMENTALS * Spot gold was down 0.1% at $1,915.89 per ounce by 0120 GMT, holding below its highest since Aug.

Nasdaq after this week's sharp gains and as investors were nervous ahead of Federal Reserve Chair Jerome Powell's speech Friday. Shares of Nvidia ended barely higher after they hit a record high early in the session. The company late Wednesday gave a much stronger-than-expected forecast amid demand for its artificial intelligence chips and said it would buy back $25 billion in stock. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors dropped 3.4%. Central bankers and other economic leaders gathered Thursday for an annual symposium in Jackson Hole, Wyoming.

«Nifty in the meantime is expected to remain in a narrow range with some stock-specific action in the broader market,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 18.5 points, or 0.10 per cent, higher at 19,311.50, signaling that Dalal Street was headed for positive start on Friday.

Oil prices fell slightly in early Asian trade on Friday, on track for a weekly decline as weak manufacturing activity hurt the global demand outlook and the dollar remained buoyant. Brent crude fell 16 cents, or 0.2%, to $83.20 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude fell 18 cents, or 0.2%, to $78.91 a barrel. Crude prices are set to fall between 2%-3% for the week, a second consecutive week of decline. Oil settled modestly higher in the previous session after Dutch consultancy Insights Global posted data showing gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub declined by 3% in the latest week. Investor caution ahead of remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium lifted the safe-haven dollar to a 10-week high, its biggest rise in a month, as markets waited for word on how long rates would stay high.

Potomac Wealth Advisors President Mark Avallone discusses whether the stock market rally will last after CPI data showed inflation slowed again in June on 'Varney & Co.' 

Wall Street closed lower, despite a blowout profit report from Nvidia, as bond yields rose ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell

Since he took over the chair's position at the Federal Reserve in 2018, Jerome Powell has used his annual addresses at the Jackson Hole retreat to push policy agendas that have run from one end of the policy playing field to the other.

Financial markets are watching closely as Federal Reserve Chairman Jerome Powell prepares to speak at the annual Jackson Hole meeting this Friday.

Amidst ongoing discussions about the trajectory of Bitcoin's value, the cryptocurrency market is abuzz with speculation. 

By Saqib Iqbal Ahmed

Investing.com — Stocks sank on Thursday despite strong earnings from chip maker Nvidia (NASDAQ:NVDA) as investors turned their attention to the Federal Reserve's annual meeting in Jackson Hole, Wyo.