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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