Pre Session- Sensex may open lower amid weak global cues..
The key domestic benchmarks are likely to open in the red tracking bearish cues from Asian stocks and a negative closing at Wall Street overnight. Asian stocks retreated today as investors were cautious ahead of Chinese data due next week while digesting disappointing US bank earnings. Investors were also eying the US consumer confidence, industrial output and housing starts data due later today which may offer further cues over the health of the world’s biggest economy.
Most US stocks ended lower on Thursday as benchmark S&P 500 fell after investors booked profits from a record high amidst weak bank earnings. Citigroup tumbled after it reported Q4 earnings which fell short of Wall Street estimates while Goldman Sachs also fell as trading revenue dropped last quarter. On the economic front, the number of Americans who filed for unemployment claims fell by 2,000 to 326,000 last week, surpassing estimates. US consumer prices rose at the fastest pace in six months, up 0.3 per cent in December as improving economic growth lifted inflation. The NAHB housing market index fell to 56 this month from 57 in December, signaling cooling momentum in the US housing recovery, weighing on sentiment. However, manufacturing activity in the Philadelphia region picked up this month as the Philadelphia Fed’s manufacturing gauge rose to 9.4 from 6.4 in December, with a reading above 0 signaling expansion. The Dow Jones Industrial Average ended lower while the Nasdaq Composite logged slim gains and the S&P 500 ended in the red driven by losses in financial shares..
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The key domestic benchmarks are likely to open in the red tracking bearish cues from Asian stocks and a negative closing at Wall Street overnight. Asian stocks retreated today as investors were cautious ahead of Chinese data due next week while digesting disappointing US bank earnings. Investors were also eying the US consumer confidence, industrial output and housing starts data due later today which may offer further cues over the health of the world’s biggest economy.
Most US stocks ended lower on Thursday as benchmark S&P 500 fell after investors booked profits from a record high amidst weak bank earnings. Citigroup tumbled after it reported Q4 earnings which fell short of Wall Street estimates while Goldman Sachs also fell as trading revenue dropped last quarter. On the economic front, the number of Americans who filed for unemployment claims fell by 2,000 to 326,000 last week, surpassing estimates. US consumer prices rose at the fastest pace in six months, up 0.3 per cent in December as improving economic growth lifted inflation. The NAHB housing market index fell to 56 this month from 57 in December, signaling cooling momentum in the US housing recovery, weighing on sentiment. However, manufacturing activity in the Philadelphia region picked up this month as the Philadelphia Fed’s manufacturing gauge rose to 9.4 from 6.4 in December, with a reading above 0 signaling expansion. The Dow Jones Industrial Average ended lower while the Nasdaq Composite logged slim gains and the S&P 500 ended in the red driven by losses in financial shares..
(To Get Live Free Trial, Contact: 09094047040, Join Yahoo Chat: rupeedesk@yahoo.com to receive tips on Option/Equity/Currency/Commodity/Forex)
