US stocks continued to struggle and trade volatile ahead of crucial inflation read. Stocks rallied at the open but erased some part of gains towards the close. Nasdaq traded almost 3.00% higher in early trade but closed with gains of 0.98%, S&P added 0.25% but Dow closed with cuts of 0.26%, its fourth day of losses.
US dollar index traded flat near 103.88, 10 year traded near 2.98% and Cboe Vix eased a bit below 33.
Crude futures continued to trade down on growth concerns, WTI traded below 100, Brent below 102.
Indian stocks closed lower for the third straight session on Tuesday as last hour selling erased intraday gains. Nifty lost 0.38%, Sensex gave up 0.19%. Mid and Small cap stocks saw heavy losses as markets moved further down.
Markets may continue to remain volatile. For the near term stocks are ready for dead cat bounce as some of them have turned extremely oversold and as per the past history these bounces / counter trend rallies are very powerful and have potential to recover large part of losses. Participants may now look for those quick recoveries for next few days in individual names where stocks have turned oversold.
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_(all prices mentioned above are as on 4.56 am IST)_
By: via @AlliesFin Serve Stock Market
