Global Cues: Tech Stocks Rally Pushes U.S. Markets Ahead
The S&P 500 index and Nasdaq 100 rose by 0.63% and 0.82%, respectively, as of Monday.
The U.S. stocks began the week by powering ahead with a rally in their tech stocks.
Alphabet Inc. jumped on reports of its talks to build Google’s Gemini artificial intelligence engine into the iPhone. In late hours, Nvidia Corp.’s chief Jensen Huang showed off new chips aimed at extending his company’s dominance of AI computing, Bloomberg reported.
The S&P 500 index and Nasdaq 100 rose by 0.63% and 0.82%, respectively, as of Monday.
Shares in the Asian-Pacific region were trading under slight pressure as investors await cues from various central bank decisions over the week, starting with the Bank of Japan.
The Nikkei 225 was trading 226 points or 0.57% lower at 39,516.07, and the S&P ASX 200 was trading 2.46 points or 0.03% higher at 7678.7 as of 06:13 a.m.
With Japan's rate decision scheduled for today at 8:00 a.m. IST, the nation expects its first interest rate hike in almost 17 years. Meanwhile, the U.S. Federal Reserve is due to announce its rate decision on Wednesday.
Overnight, the U.S. stocks began the week by powering ahead with a rally in their tech stocks. Alphabet Inc. jumped on reports of its talks to build Google’s Gemini artificial intelligence engine into the iPhone. In late hours, Nvidia Corp.’s chief Jensen Huang showed off new chips aimed at extending his company’s dominance of AI computing, Bloomberg reported.
The S&P 500 index and Nasdaq 100 rose by 0.63% and 0.82%, respectively, as of Monday.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.33% and Bitcoin was above 67,100-level. Brent crude was trading beyond $86.5 a barrel, whereas WTI Crude was above $82.5-mark.
At 5:54 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was 31.5 points or 0.14% down at 22,105..
On the domestic front, India's benchmark indices rebounded on Monday from a one-session fall to end the first session of the week higher, tracking gains in Tata Steel Ltd., Reliance Industries Ltd., and Mahindra & Mahindra Ltd. The NSE Nifty 50 closed 32.35 points, or 0.15%, higher at 22,055.70, and the S&P BSE Sensex ended 104.99 points, or 0.14%, up at 72,748.42.
Macro Cues
U.S. Dollar Index at 103.58
U.S. 10-year bond yield at 4.33%
Brent crude up 0.06% at $86.94 per barrel
Nymex crude up 0.06% at $82.77 per barrel
Bitcoin was up 0.78% at $67,878.94
U.S. Markets
Dow Jones up 0.20% at 38,790.43
Dow Jones Futures down 0.02% at 39,215
S&P 500 up 0.63% at 5,149.42
S&P 500 Futures down 0.13% at 5,207.75
Nasdaq Composite up 0.82% at 16,103.45
Nasdaq Futures down 0.27% at 18,182