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US Markets in Detail...*
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SGX: 18,353: +137: +0.75%
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*TODAY’S MAJOR CORPORATE RESULTS: BIRLAMONEY, CESC, GTPL, MINDTREE, PLASTIBLEND, TATAMETALI, etc*
Sensex: 61,150: +533: +0.88%
Nifty: 18,212: +157: +0.87%
Dow: 36,290: +38: +0.11%
S&P: 4,726: +13: +0.28%
Nas: 15,188: +35: +0.23%
Brazil: 105,686: +1,907: +1.84%
Ftse: 7,552: +60: +0.81%
Dax: 16,010: +69: +0.43%
Cac: 7,237: +54: +0.75%
WTI Oil: $82.78: +1.92%
Brnt: $84.77: +1.25%
Gold: $1,827: +8: +0.45%
Silver: $23.23: +1.81%
Copper: $456: +13: +3.01%
Zinc: 3,556: +79: +2.27%
Alluminum: 2,970: +39: +1.31%
Eur-$: 1.1444
GBP-$: 1.3707
Jpy-$: 114.64
Re: 73.9175: +0.01%
US10yr: 1.75%
GIND10YR: 6.593: +0.35%
$ Index: 94.9640 (-0.69%)
Vix: 17.62 (-4.29%)
BalticDry: 2,151 (-126) (-5.53%)
*ADR/GDR*
Cogni: +0.11%
Infy: +2.92%
Wit (-8.52%)
IciciBk: +0.68%
HdfcBk (%)
DrRdy (-0.47%)
TataMo: +0.56%
TatSt: +1.30%
Axis: +1.19%
SBI: +0.58%
RIGD: +2.92%
INDA: +0.71% (IShares MSCI INDIA ETF)
INDY: +0.86% (IShares MSCI INDIA 50 ETF)
EPI: +0.86% (Wisdom Tree India Earning)
PIN: +0.86% (Invesco India Etf)
*Stocks rose as a report showing the fastest inflation in about four decades (the biggest annual increase since June 1982) was roughly in line with market expectations, with traders keeping their bets on a rate hike in March.*
The bond market reaction to the inflation data was fairly muted in part because yields have already surged since the start of the year, with traders bracing for the Federal Reserve to begin raising rates. Ahead of the report, positioning in the broad Treasury market was the most net-bearish since late 2017, according to the latest survey by JPMorgan Chase & Co.
*Commodity and retail companies led gains in the S&P 500. Electric-vehicle maker Tesla Inc. and Google’s parent Alphabet Inc. paced a rally in megacaps. Financial shares underperformed, with major banks set to report their results Friday. Goldman Sachs Group Inc. and Morgan Stanley tumbled, while Jefferies Financial Group Inc. slid after saying fixed-income trading revenue plunged 50% from a year earlier. The Bloomberg Dollar Spot Index had its worst session since May.*
On Tuesday, all three indexes gained ground, with the Nasdaq Composite leading the way with a gain of 1.4%.
*However, interest rates already moved sharply higher in the first week of 2022, sparking a sell-off in tech stocks. That suggests the hot inflation report, and future tightening by the Federal Reserve, may be at least partially priced in to the market.*
*What drove markets*
*Stocks were buoyed Wednesday as investors exhaled with relief after the latest reading on inflation, while running hot, wasn’t worse than anticipated.*
*The consumer-price index posted a monthly rise of 0.5% in December, as prices rose by a near 40-year high of 7% from a year ago, while also indicating elevated U.S. inflation could persist well into 2022.*
*The gain in the consumer-price index exceeded the 0.4% forecast of economists polled by The Wall Street Journal. Increases were driven largely by elevated costs for food, shelter and used cars, even as energy prices briefly fell from recent highs.*
*A separate measure of consumer inflation that strips out volatile food and energy prices rose 0.6% last month, the government said Wednesday. That pushed the increase over the past 12 months to 5.5% from 4.9%—a 31-year high.*
*Investors appeared to be comforted by the fact that inflation was not worse than feared, and that the Federal Reserve was unlikely to be more aggressive than expected in hiking interest rates and tightening monetary policy.*
The central bank's plan for easing accommodation to fight inflation includes raising interest rates, which analysts expect to start as soon as March, as well as tapering its bond buying program and reducing its asset holdings.
By: via @AlliesFin Serve Stock Market
