Stock Market Live: SGX Nifty indicates flat start for Indian indices

Indian indices may witness a subdued start on Thursday amid mixed trends. The indices on Wednesday snapped a two-day winning run to record losses. Major US stock indexes ended down slightly in overnight session, losing early gains tied to remarks by Federal Reserve Chair Jerome Powell that the US central bank is “strongly committed” to bringing down inflation, while sharply lower oil prices weighed on energy shares. In Asia, shares rose in Japan, Hong Kong, South Korea, Shanghai, and Australia. 

23 Jun 2022, 07:33:36 AM IST

Tokyo shares open higher as investors gauge Powell remarks

Tokyo shares opened higher as investors gauged inflation and recession risks after US Fed chair Jerome Powell pointed to the need for further rate hikes.

The benchmark Nikkei 225 index rose 0.22 percent or 58.77 points to 26,208.32 while the broader Topix index added 0.41 percent or 7.62 points to 1,860.27.

23 Jun 2022, 07:33:24 AM IST

Gold ticks lower after US Fed chief reaffirms inflation fight

Gold prices were a touch lower on Thursday, with some support from a weaker dollar and US Treasury yields, after the Federal Reserve’s head said the central bank was fully committed to reining in inflation, and would try not to spark a recession in the process. Spot gold was down 0.1% at $1,835.88 per ounce by 0109 GMT. US gold futures also inched 0.1% lower to $1,837.30.

23 Jun 2022, 07:30:19 AM IST

US stocks give up gains and end slightly lower

A choppy day of trading on Wall Street ended with a modest pullback for stocks Wednesday, the latest bout of volatility for the market amid concerns about inflation and uncertainty over whether rising interest rates will help or hinder the economy.

The indexes were on pace for a modest gain before slipping into the red in the final minutes of trading. The S&P 500 dropped 0.1%, with the stocks in the benchmark index about evenly split between gainers and decliners. The Dow Jones Industrial Average gave up 0.2% and the Nasdaq fell 0.1%.

Energy companies helped pull the market lower after the price of U.S. crude oil fell 4%. Technology companies also lost ground, which helped keep gains in health care, real estate and other sectors in check.

Investors closely watched testimony to Congress from Federal Reserve Chair Jerome Powell. He reaffirmed the central bank’s determination to raise interest rates and slow inflation.

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