Indian investors will closely monitor US market trends, developments in the US-Iran conflict, and key US economic data for directional cues. Oil price…
1/7US Markets | The S&P 500 traded largely flat on Wednesday, as a rise in oil prices weighed on sentiment. The broader market index hovered around the flatline, while the Nasdaq Composite declined 0.3%. The Dow Jones Industrial Average gained 234 points, or 0.5%, during the session.
2/7Oil | Oil spiked above $95, extending this month’s price jump to 30%, as the US and Iran played down the prospect of peace talks and disruptions to global supplies continued to mount. The surge has sent Brent futures to levels last seen in early June, before an interim peace deal that has now unravelled.
3/7US-Iran war | President Donald Trump on Wednesday vowed that the US will blow up an Iranian bridge or power plant — including those in the country’s capital city of Tehran — every time Iran shoots at a ship in the Strait of Hormuz. “From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT,” Trump’s post read.
4/7US Economic Data | The US will release weekly Initial Jobless Claims and the Kansas City Fed Manufacturing Index data tomorrow, with investors tracking the releases for cues on labour market conditions and manufacturing activity. Initial jobless claims are expected to be released after the previous week’s reading of 208,000, which was lower than the prior figure of 216,000.
5/7Q1 earnings to watch | Investors will track quarterly results from Infosys, InterGlobe Aviation (IndiGo), and Indian Energy Exchange (IEX), which are scheduled to announce their first-quarter earnings tomorrow.
6/7Global earnings | Investors will track a busy earnings calendar tomorrow, with several major companies scheduled to announce their quarterly results. The list includes Intel, Blackstone (6:30 PM IST), Comcast, Lockheed Martin, Norfolk Southern, RTX, T-Mobile (4:00 PM IST), Union Pacific (5:15 PM IST), Honeywell, American Airlines (4:30 PM IST), TotalEnergies, Nestlé (10:45 AM IST), Nokia (10:30 AM IST), EasyJet (11:30 AM IST), and UniCredit (1:30 PM IST).
7/7ECB rate decision | The European Central Bank (ECB) is scheduled to announce its interest rate decision tomorrow at 5:45 PM IST. This will be followed by a press conference by ECB President Christine Lagarde at 6:15 PM IST.
