🔷 Global Market Update

Advisory Bazaar Info Services

U.S. equity markets closed higher, gaining between 0.20% and 0.80%.

In Europe, all major indices ended in the red except for the FTSE.

Asian markets opened on a stronger note as Wall Street’s rally and optimism about rising profits of big tech companies driven by Artificial Intelligence (AI) boosted investor sentiment. Speculation of a potential Federal Reserve rate cut also supported the market.

Sensex and Nifty are trading higher by 138 points and 55 points, respectively.

U.S. stocks extended their gains as investors awaited the quarterly earnings of the “Magnificent Seven” technology companies and the outcome of the two-day Federal Reserve meeting later this week.

Crude oil prices weakened for the third consecutive day as investors assessed the impact of Western sanctions on Russia and mixed U.S. inventory data. Brent crude is trading below $65 per barrel.

Meanwhile, the Government of India on Tuesday approved the terms of the 8th Pay Commission, which will review the salaries of nearly 5 million central government employees. The commission will be chaired by former Supreme Court Judge Ranjan Prabhakar Desai.