Listen In: Morning Cues That Will Determine Market’s Mood
- February 3, 2012
- Business News
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It was a lackluster session on Wall Street following a handful of mixed earnings reports. Fed chairman Ben Bernanke’s comments on jobs growth didn’t help sentiment either. European markets ended stable, while key Asian markets opened down 0.2-0.4%, cautious ahead of US jobs data.
Back home, the indices absorbed some intra day volatility to close firm. The Nifty added another 30 points to get to 5270 while the Sensex gained 131 points to close above 17,430.
In the currency space, the euro could head for a weekly decline as Greece and its creditors struggle to reach an agreement on a debt swap, curbing demand for the shared currency. Euro is currently trading around 1.31 to the dollar. The rupee hit a three-month high yesterday against the dollar touching the 48 mark before closing at 49.16.
In other asset classes, crude prices gain trimming the biggest weekly decline in more than a month. The Nymex is inching back to USD 97 per barrel levels while the Brent is around USD 112 per barrel. Among precious metals, gold rose to a two-month high on a larger-than-expected fall in new US claims for unemployment benefits.
Source: http://www.moneycontrol.com/news/local-markets/listen-in-morning-cues-that-will-determine-markets-mood_661931.html