Global Market Update

Advisory Bazaar Info Services

* US equity markets closed higher, gaining between 1.50% and 1.89%.

* European equity markets also ended on a positive note.

* GIFT Nifty is up by 70 points, with Nifty futures likely to open around the 24,950 level.

* On Friday, Fed Chair Jerome Powell, in his keynote speech, signaled that the Federal Reserve may cut interest rates in its upcoming September policy meeting. However, there were clear divisions among policymakers. Powell himself noted that the economy has posed a “challenging situation” for Fed officials.

* Asian equity markets traded higher on Monday, following Wall Street’s rally. The gains came after Powell’s signal of potential rate cuts.

* US stock markets closed strongly on Friday, with the Dow Jones Industrial Average achieving its first record closing level of the year.

* Crude oil prices remained stable after a nearly 3% rise last week. Amid supply concerns and Powell’s rate-cut hints, Brent Crude traded around $68 per barrel.