Stock Market Today: All You Need To Know Going Into Trade On June 5

Good morning!

The GIFT Nifty was up 0.08% at 24,736 as of 06:30 a.m. on Thursday, signaling a marginally positive start to Indian markets today.

Treasury prices rose as subdued US economic data strengthened market expectations for Federal Reserve interest rate cuts later this year. The S&P 500 and Nasdaq 100 remain within 3% of their record closing highs reached in February.

In Asia, equity-index futures showed mixed performance ahead of key data releases scheduled for Friday, including inflation figures for Taiwan and the Philippines, trade data from Australia, and Caixin Services PMIs for China. Meanwhile, the European Central Bank is set to announce its interest rate decision later today.

Recent weeks have seen a slight decline in US economic activity, reflecting the ongoing impact of tariffs and heightened uncertainty across the economy.

India's benchmark equity indices closed higher on Wednesday, ending a three-day losing streak. The NSE Nifty 50 ended 77 points or 0.32% higher at 24,620, while the BSE Sensex closed 260.74 points or 0.32% up at 80,998.

Foreign portfolio investors turned net buyers after three sessions, buying up stocks worth Rs 1,076.2 crore, according to provisional NSE data. Domestic institutional investors stayed net buyers for the 12th straight session as they bought equities worth Rs 2,566.8 crore, the data showed.

• S&P 500 futures saw a marginal dip.

• Hang Seng index futures were up 1.12%.

• Futures for the Nikkei 225 on the Osaka Exchange rose 0.39%.

• Japan’s Topix index fell 0.57%.

• Australia’s S&P/ASX 200 index gained 0.25%.

• Euro Stoxx 50 futures were up 0.02%.

• West Texas Intermediate crude declined 0.40% to trade at $62.60 per barrel.

• Spot gold advanced by 0.12% to $3,376.31 per ounce.

• Copper fell 0.13%, reversing gains.

• Nickel was down 0.28%, extending decline.

• Aluminium was up 0.79%, reversing losses.

• Zinc fell 0.18%, snapping upward streak.

• Lead rose 0.28%, extending advances.

Treasuries rallied following weaker-than-expected economic data, fueling speculation that the Federal Reserve will implement at least two interest rate cuts this year to avert a recession.

A contraction in US service sector activity and slower hiring pushed bond yields lower across the curve. The S&P 500 remained largely unchanged, with defensive sectors such as health care and communications outperforming the broader market.

According to the Fed’s Beige Book, US economic activity declined slightly in recent weeks, reflecting the effects of tariffs and heightened uncertainty. The Nasdaq 100 gained 0.3%, while the Dow Jones Industrial Average declined 0.2%.