2022-05-30 06:30:40
Morning Action @ 7am – Monday, May 30th 2022
SGX Nifty spearheading more gains for Dalal Street after Wall Street witnesses a wild bullish rally in an earnings-driven session.
Call of the day suggests the cake is already baked for solid gains for Nifty to climb higher…Buy something.
7am GLOBAL UPDATE:
# Dow (+576, 33213)
# Nasdaq (+390, 12131)
# Bovespa (+52, 111942)
# SGX Nifty (+123, 16435)
# Dow Future (+54, 33212)
# Nikkei (+440, 27223)
# Hang Seng (+236, 20933)
WHAT HAPPENED IN AT WALL STREET IN FRIDAY’S TRADE:
# The Dow Jones Industrial Average was up 1.8% at 33,213, the S&P 500 Index was 2.5% higher at 4,158 and the Nasdaq Composite had gained 3.3% to 12,131.
In the week gone by, the Dow rose 6.2% to snap its eight-week losing streak, while the S&P 500 (+6.6%) and Nasdaq (+6.8%) held their consecutive weekly declines to seven.
# The small-cap Russell 2000 rose 2.7% to 1,887.
# WTI Crude Oil U.S. crude futures tacked on 0.9% on Friday to settle at $115.07 per barrel, bringing their weekly gain to 4.3%. This helped fuel a more than 8% weekly gain for the energy sector, bringing its year-to-date return to 59.4%.
# Bitcoin 2.0% to $28,779.96. Bitcon has now fallen by more than 50% from its November 2021 peak.
# Gold futures gained 0.1% to end at $1,847.60 an ounce.
# Meanwhile, the U.S economy contracts more than anticipated. First-quarter U.S gross domestic product declined at a 1.5% annual pace, worse than the 1.3%.
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