← Go back May 05, 2023
U.S. stock futures opened higher at the start of Asian trading as risk sentiment turned positive following a sharp jump in sales forecasts from Nvidia Corp., the world’s most valuable chipmaker.Nasdaq 100 futures rallied 1.6%, following a 0.5% drop in the underlying index on Wednesday amid concerns over the debt-ceiling impasse in the U.S. and the risk of another rate hike from the Federal Reserve. Contracts for the S&P 500 jumped 0.6%.As per Bloomberg, before Nvidia's 27% surge in after-hours trading, major Asia equity indices had looked likely to decline on Thursday, with futures lower for Hong Kong, Japan and Australia.The S&P 500 fell 0.7% on Wednesday, led by losses in financials and real estate, as negotiations over the U.S. debt ceiling continued without a deal. Minutes from the Fed’s meeting in early May showing policymakers were split on the path for U.S. interest rates further knocked sentiment.Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.73%. Crude was trading above $78-mark, while Bitcoin traded below 27,000-level. At 05:45 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.19% at 18,250.Domestic benchmark indices ended their three-day rally to close lower as the HDFC twins and Adani Enterprises Ltd. dragged. Meanwhile, the Indian rupee closed higher against the U.S. dollar for the second day in a row on the back of substantial forex inflows.Foreign investors were net buyers for the third straight day and bought equities worth Rs 1,185.84 crore. On the other hand, domestic institutional investors were buyers for the fourth straight day and bought stocks worth Rs 300.93 crore, the NSE data showed.Continue Reading. Read more on Markets by BloombergQuint.
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