Morning comments Indian markets could open flat to mildly hig | Make Money with Amit Bhawani 👨‍🏫💲

Morning comments

Indian markets could open flat to mildly higher, despite mostly lower Asian markets today and lower US markets on Tuesday.…

U.S. stocks closed lower Tuesday, with cautious investors digesting more earnings reports ahead of White House negotiations on the debt ceiling later Tuesday and inflation data due Wednesday.

The U.S. consumer-prices report for April will be published on Wednesday and investors hope to see inflation continuing to ease. That could allow the Federal Reserve to consider reducing interest rates later this year. Of course, Fed Chair Jerome Powell and other central bankers may differ with investors over the prospect of rate cuts in 2023.

Fed-fund-futures traders have priced in an 82% chance that the U.S. central bank will pause raising its key interest rate at its June meeting and a large chance that the Fed will deliver at least one rate cut by the end of this year.

Asian equities opened slightly lower on Wednesday ahead of a critical inflation report and as the US debt ceiling impasse damps investor sentiment.

Nifty closed almost flat on May 09 after a volatile session. At close, Nifty was up 0.01% or 1.55 points at 18265.95. Foreign investors were net buyers for the ninth day in a row and bought equities worth Rs 1,942.19 crore. Nifty formed a spinning top like formation after a small rise. This could mean possible reversal of the uptrend, which will get confirmed once 18120 is breached on the downside. 18345 on the upside could offer resistance.