Inflation data Financial News

Surfing on Saudi-Russian production cuts, oil bulls will be seeking to defend the high price of $90 per barrel this week even with U.S. inflation data forecast to show a climb for a second straight month that could prompt the Federal Reserve to consider a more aggressive stance on interest rates.

European Central Bank (ECB) later in the week for more cues on the direction of global interest rates. The pan-European STOXX 600 gained 0.6% as of 0712 GMT after having shed nearly 1% last week amid worries about higher-for-long U.S. interest rates. Investor focus is now on U.S.

The BSE Sensex was trading 283 points or 0.43% higher at 66,882. Nifty50 was trading at 19,912, up 92 points or 0.46% at around 9.24 am. From the Sensex pack, HCL Tech, Tata Motors, NTPC, Wipro, and Power Grid opened with gains, while only Infosys, Bharti Airtel, and IndusInd Bank opened with cuts. Among individual stocks, SJVN shares opened over 6% higher after the company signed a power-purchase agreement with Bhakra Beas Management Board for an 18-megawatt solar power project. Adani Enterprises shares also opened 3% higher after the company's subsidiary in Singapore signed a joint venture agreement with Kowa Holding Asia, Singapore for sales and marketing of green ammonia, green hydrogen and its derivatives. Sector-wise, Nifty PSU Bank rose 1.07% and Nifty Auto surged 0.54%.

Gold prices started the week on a firm footing on Monday, supported by a retreat in the dollar, as investors awaited U.S. inflation data due this week that would indicate the Federal Reserve's next interest rate move. FUNDAMENTALS * Spot gold was up 0.1% at $1,919.52 per ounce by 0105 GMT, but still hovered near one-week lows hit on Sept.

macroeconomic data, crude oil prices, global cues, and more. Despite the US 10-year bond yield surpassing 4.3 per cent, the dollar index reaching above 50, and Brent crude trading at over $90, the Indian market displayed remarkable resilience last week. Frontline indices Sensex and Nifty settled higher for the sixth consecutive session on Friday, despite a cautious global market.

Global market update: US stock market edged higher on Friday on resilience in the national economy even though investors await the key US inflation data expected next week. Dow Jones index added 0.22 per cent whereas tech heavy weight Nasdaq added 0.09 per cent. S&P 500 index gained 0.14 per cent.

By David Randall

Next week will help determine what the Federal Reserve’s near-term outlook for interest rates will be as the U.S. central bank faces the difficult task of balancing between its ongoing battle to contain inflation and cool the economy without tipping it into a recession.

By Shristi Achar A and Amruta Khandekar

Nasdaq higher on Thursday after U.S. inflation data matched estimates, underscoring expectations the Federal Reserve could pause its monetary tightening, while Salesforce climbed following an up upbeat forecast. The Nasdaq reached its highest in over four weeks after a Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered the central bank's preferred inflation gauge, climbed 3.3% in July on an annual basis, in line with expectations. Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Traders' expectations for a pause in rate hikes at the Fed's September policy meet remained at an 88.5% chance, while their bets on the central bank keeping rates unchanged in November stood at 51%, according to the CME Group's FedWatch tool. «Investors believe the Fed is data dependent, and the data is in the market's favor.

Federal Reserve could pause its monetary tightening. The Dow Jones Industrial Average rose 18.85 points, or 0.05%, at the open to 34,909.09. The S&P 500 opened higher by 2.14 points, or 0.05%, at 4,517.01, while the Nasdaq Composite gained 22.23 points, or 0.16%, to 14,041.54 at the opening bell.MORE TO COME...

(Reuters) — U.S. stock index futures extended gains on Thursday after data showed a closely-watched measure of inflation rose in line with expectations in July, keeping alive hopes for a pause in interest rate hikes from the Federal Reserve.

Spain and Germany inflation releases could give some indication on the bloc's wider numbers due on Thursday. Inflation in Germany's most populous state, North Rhine-Westphalia (NRW), rose by 5.9 % year-on-year from 5.8% in July, supporting expectations that the European Central Bank's tightening cycle might not end soon. In Spain, consumer prices rose 2.6% year-on-year in August from 2.3% in July, and in line with the 2.6% expected by analysts polled by Reuters. Money markets raised their bets on a September rate hike from the ECB, pricing in a 60% chance of a 25 basis-point move. «A September hike at this stage could be more of a coin toss, but more importantly, we sense that the hawks will see it as a last chance to hike one final time,» said Benjamin Schroeder, senior rates strategist at ING. «One key input to arrive at a final assessment is the inflation data this week,» he added. The euro edged 0.1% higher to $1.0887. The dollar index — which measures the currency against six major peers including the yen and euro — slipped 0.1% to 103.47. On Tuesday, the dollar index slumped 0.39% for its worst day in a month-and-a-half, after a slide in JOLTS job openings to a 2-1/2-year low spurred traders to pare bets for further U.S.

Investing.com — U.S. stock futures pointed higher on Monday, as investors digested key interest rate commentary from Federal Reserve Chair Jerome Powell and looked ahead to fresh economic data.

Bitcoin (BTC) is still worth $20,000 nearly six years after first reaching it — if adjusted for inflation.

Investing.com — European stock markets stabilized Wednesday, with investors digesting better than expected U.K. inflation numbers, more corporate earnings as well as China’s deteriorating economic outlook.

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Nifty ended flat on Monday as investors awaited India's consumer price inflation (CPI), or retail inflation, prints for the month of July which is expected to see an uptick because of the recent rise in vegetables, pulses and cereals prices. A sharp uptick in inflation may weigh on market sentiment which already appears to be in a consolidation phase. Sensex and Nifty are about two per cent down in August so far.

The BSE Sensex was trading 440 points or 0.67% lower at 64,882 while Nifty50 was trading at 19,280, down 147 points or 0.76% at around 9.21 am. From the Sensex stocks, Tata Motors, Bajaj Finserv, Bajaj Finance, SBI, JSW Steel, and Asian Paints opened with cuts, while only NTPC opened with gains.

Gold prices hovered near one-month lows on Friday as markets assessed the cooler-than-expected U.S. inflation data, with bullion still set to wrap up its worst week in seven as the U.S. dollar and bond yields stood strong.FUNDAMENTALS * Spot gold edged 0.2% higher to $1,914.87 per ounce by 0136 GMT, but still traded near its lowest levels since July 7 seen earlier in the day.

Wall Street's main indexes finished flat on Thursday, giving up most early gains on milder-than-feared inflation data as investors worried about the U.S. economy's longer-term prospects and whether stocks had further room to run. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%.