The US stocks increased for the 4th session Tuesday as Wall Street analysts eye on the hints as to when the US Fed will initiate easing of monetary policy. The S&P 500 saw an increase of 0.46% to end the session at ~4,643.70, with Dow Jones gaining ~173.01 points, or 0.48%, to close at ~36,577.94. Nasdaq Composite went up by ~0.70% to 14,533.40. All of these frontline indexes reached their respective new intraday 52-week highs Tuesday, as S&P 500 hit its highest intraday level since the month of January 2022. Tech-heavy Nasdaq and Dow Jones reached highest intraday levels since the months of April and January of 2022, respectively. Since global stocks ended higher, the CPI saw an increase of ~3.1% for the month of November year over year and 0.1% in comparison to October 2023. Economists expected an increase of 3.1% annually. Month over month, these analysts anticipated CPI to remain flat. If we exclude the food and energy, inflation increased as per the expectations of economists.
Global stocks ended higher on Tuesday and Dow Jones, S&P 500 and Nasdaq Composite have seen 6 consecutive weeks of gains. With the inflation data out, the analysts and experts will now focus on Fed’s policy announcement, which will be released on Wednesday at 2 p.m. ET.
Coming to the Indian equity indexes, these closed lower in volatile session on December 12 with Nifty ending ~20,900. By the end of trading session, BSE Sensex went down by ~377.50 points or ~0.54% to close at ~69,551.03, and Nifty50 declined ~90.7 points or 0.43% to end at 20,906.40. On Tuesday, ~1,717 shares increased, ~1,939 shares fell and ~104 shares remained unchanged.
Elsewhere, European markets declined on Tuesday, with pan-European Stoxx 600 provisionally ending ~0.23% lower. With this, the oil and gas sector lost ~1.28%. The Asia-Pacific markets closed in green, with Japanese stocks resulting in gains for the 2nd straight session. On the European side, leading bourses ended the day lower, with France’s CAC 40 declining ~0.11% and UK’s FTSE 100 and Germany’s DAX remained marginally below the flatline.
U.K. regular wages saw an annual increase of 7.3% in November, down from ~7.8% reading seen in the previous month. This has been considered as the welcome news for Bank of England, with the central bank’s monetary policy decision due on Thursday. Job vacancies declined once again over 3 months ended November and these are now down ~27% from peaks.
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