Market Outlook - 30th Aug 2016

Published on Aug 30th 2016


Indian markets are likely to open flat with positive bias tracking SGX Nifty. US stock markets climbed on Monday in the wake of comments by top Fed officials that bolstered expectations for an interest rate hike by U.S. central bank this year. Advance in U.S. stock markets was led by financials which stand to gain the most in an environment of higher interest rates. SP 500 financial index .SPSY ended 1% higher; Wells Fargo gained 2.2% and JPMorgan rose more than 1%. Advances helped Wall Street snap a 3day losing streak. Report from U.S. Commerce Dept. showed consumer spending which a/cs for over 2/3 of U.S. economic activity rose for 4th month in July. That reinforced bets of rate rise soon even as other data showed U.S. inflation remained subdued. European stocks on Monday finished in negative territory kicking off week lower as rising expectations the U.S. Fed will lift interest rates later this year poked the air out of a recent rally. Stoxx Europe 600 index SXXP

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