Indian equities are expected to open lethargically on Thursday, influenced by a global decline in government bond yields and cautious revenue projections from U.S. chipmaker Micron Technology, which reported third-quarter earnings below analysts' expectations.
On Wednesday, benchmark indices Sensex and Nifty surged 0.8% and 0.6% respectively, achieving new record highs. Meanwhile, the Indian rupee depreciated by 17 paise, closing at 83.57 against the US dollar, following three consecutive sessions of appreciation.
This morning, Asian markets are witnessing widespread declines as technology stocks resume their downward trajectory.
The sell-off in U.S. Treasuries continued, and gold prices hovered near a two-week low, bolstered by dollar strength, as investors anticipate a crucial U.S. inflation report that could influence the future course of monetary policy.
Oil prices dipped on concerns of waning U.S. demand, prompted by data revealing an unexpected increase in inventories.
In the U.S., stocks fluctuated and ultimately closed slightly higher on Wednesday. Investors are in a holding pattern, awaiting significant economic data and the Federal Reserve's results from its annual banking sector stress tests.
Economic data released indicated a downturn in new U.S. single-family home sales, which hit a six-month low in May, as mortgage rates persist at elevated levels.
The tech-centric Nasdaq Composite advanced by 0.5%, while the S&P 500 inched up by 0.2%, and the Dow concluded the session with marginal gains.
In Europe, stocks closed lower on Wednesday, losing early gains due to concerns about the French election outcome and the U.S. interest-rate landscape. The pan-European STOXX 600 declined by 0.6%, the German DAX slipped by 0.1%, France's CAC 40 dropped by 0.7%, and the U.K.'s FTSE 100 eased by 0.3%.
