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Investing.com — The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50, traded 0.06% or 11 points lower at 8:50 am on Wednesday, indicating a flat opening on Dalal Street.
Further, the Dow Jones Futures and Nasdaq 100 Futures traded flat.
The US market began the holiday-curtailed week by booking profits with major indices ending lower on Tuesday amid a weak global demand outlook. Investors await Fed Chair Jerome Powell’s two-day testimony on the economic outlook and recent monetary policy actions scheduled for later in the day.
Nasdaq Composite dropped 0.16%, Dow Jones fell 0.72% and S&P 500 declined 0.47% on Tuesday.
Asian shares continued to fall on Wednesday after the People’s Bank of China cut two benchmark lending rates during the day, but investors remained impatient about the lack of a wider stimulus package by Beijing.
At 8:52 am, Japan’s Nikkei 225 gained 0.4%, South Korea’s KOSPI declined 0.54%, Hong Kong’s Hang Seng index plunged 1.9%, China’s Shanghai Composite dropped 0.5% and Australia’s ASX 200 contracted 0.31%.
Oil prices rose on Wednesday and snapped a two-day losing run, following strong US economic data and hopes of improving demand in Asia, an Investing.com report noted.
Brent crude advanced 0.3% to $76.15/barrel and WTI Futures traded at $71.41 a barrel. Natural Gas Futures climbed 0.44%.
