Tue, Feb 13, 2024 1:19 PM
Sensex, Nifty open on a cautious note ahead of US inflation data
A Flip by Avya Verma
Stocks extended election-day gains as traders awaited results, with S&P 500 futures rising nearly 0.5%, 10-year Treasury yields increasing, and Bitcoin rallying, indicating a potential Trump victory. Markets showed signs of last-minute positioning, with investors boosting bullish options positions in Treasuries and volatility gauges surging.
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U.S. stocks closed sharply higher in a broad rally on Tuesday after data signaled a solid economy, but investors braced for volatile trading this week as voting was underway in an extremely tight U.S. presidential election. The Institute for Supply Management said its non-manufacturing purchasing managers index, a gauge of the services sector, accelerated to 56.0 last month.
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Oil prices fell on Wednesday as early poll results in the U.S. election showed Democrat Kamala Harris and Republican Donald Trump locked in a tight race for the presidency. U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to trade at $71.72 per barrel, and Brent crude oil futures lost 0.35 cents, or 0.46%, to trade at $75.18 per barrel at 0132 GMT.
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