The signal from the global market is looking weak. Asia has had a MIXED start. SGX NIFTY and DOW FUTURES are trading under pressure. US markets closed mixed yesterday. The Dow closed up a quarter of a percent, but the Nasdaq declined. The Dow Jones closed up 104 points yesterday. The S&P 500, Nasdaq showed pressure and closed in the red. The dollar reached the lowest levels in 7 months. Dollar index has rolled down to the level of 101.66.
Tech sector Microsoft’s stock declined by more than 1% after weaker-than-expected results. Apart from this, the impact of the weak results of other companies was also visible in the market. European markets also closed in the red mark after the release of PMI data.
Crude oil declined on concerns of a global recession. The price has slipped $ 2 and reached close to $ 86. On the other hand, the luster of gold is increasing continuously. The price on Comex has crossed $1935. Due to the weakness in the dollar, gold prices are seeing a jump. The dollar index fell to the level of 101.66. The dollar remains below 102 for the 10th consecutive day. Expectations of softening of the Fed’s stance have also raised prices. The US is more expected to rise 0.25% on February 1.
Meanwhile, mixed business is being seen in the Asian markets today. SGX NIFTY is showing a decline of 38.50 points. At the same time, Nikkei is showing a decline of about 0.11 percent around 27,329.36. At the same time, it is showing an increase of 1.68 per cent in the Straits Times. At the same time, Kospi is trading with a gain of 1.28 per cent.
