Stories
Global Market Cues: Relief expected as crude and bond yields soften
- •Domestic markets are expected to open with gains, supported by a positive trend in GIFT Nifty.
- •US Treasury yields declined from their intraday highs following steady demand in long-term security auctions.
- •Crude oil prices moderated after Donald Trump stated that military action against Iran is ruled out before mid-term elections.
- •US markets showed mixed trading, with the Dow Jones rising while the S&P 500 and Nasdaq closed lower.
- •Geopolitical tensions escalated in West Asia as Yemen's Houthi rebels intensified attacks on Saudi Arabia.
Key Questions Answered
Crude oil prices moderated as Donald Trump's recent statements regarding ongoing discussions with Iran eased West Asian crisis pressures and ruled out military action before mid-term elections. Additionally, US Treasury bond yields softened from their upper levels following steady demand in long-term security auctions and the Treasury's buyback process.
US markets experienced mixed trading as the Dow Jones Industrial Average rose by 51.77 points (0.10 percent) to close at 51,231.64. Meanwhile, the S&P 500 fell by 36.41 points (0.47 percent) to 7,765.36, and the Nasdaq Composite dropped by 345.35 points (1.25 percent) to 27,193.34.
Tensions escalated as Yemen's Iran-backed Houthi rebels intensified attacks against Saudi Arabia, claiming responsibility for an attack on Riyadh airport and threatening energy plants. Additionally, a Saudia Airlines passenger plane suffered significant damage in a fire while parked at the airport terminal.
