Trade Setup for Friday 25 Aug: Stock Market Today

 

Trade setup for Friday 25 Aug 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens and ahead of Trade Setup today.

 

Asian Stock Markets

 

Asian stock markets are trading lower on Friday, as investors are eagerly waiting for any signal on US monetary policy from US Fed Chair Jerome Powell’s speech at the Jackson Hole symposium later in the day. The core inflation for Japan’s Tokyo came a tick lower in August, as compared to the last month.

The major Asian stock market indexes, Nikkei, Hang Seng, Shanghai, and Kospi are trading lower by 1.89 percent, 1.15 percent, 0.32 percent, and 0.83 percent respectively. Other indexes in the region Straits Times and Taiwan are also trading lower at 7.15 am IST.

Gift Nifty is trading slightly higher by 11 points at 19304 levels. The indications from the Asian stock markets are negative today. Indian stock market indexes are likely to open on a cautious note and will trade negatively today.

 

U.S. Stock Market Indexes Update

 

The US stock markets fell sharply on Thursday after the initial big tech stocks rally led by Nvidia due to a concern about Powell’s speech at the Jackson Hole symposium. Investors preferred to book profit ahead of Fed Chair Jerome Powell’s speech and are waiting for the event for any signals to gauge the Fed’s future move on the interest rate path.

Dow Jones dragged, as the share price of Boeing tumbled around 5% after it said, due to a manufacturing flaw on its 737 Max, there would be a delay in deliveries of its bestselling aircraft.

The durable goods orders fell to 5.2% in July, more than the estimation of 4.1%.  Meanwhile, Job markets remain strong, as the initial jobless claims fell last week. American’s filings for the first time for unemployment benefits fell lower than the previous week and less than it was forecasted.

The key US stock market indexes erased early gains and ended lower. Dow Jones extended its opening losses and closed lower by 1.08 percent while S&P 500 pared early gains and closed lower by 1.35 percent. Nasdaq composite also erased all gains and ended lower by 1.87 percent on Thursday.

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European Stock Market Indexes Updates

 

European stock market indexes mostly closed lower on Thursday as Nvidia-led tech stocks rally faded ahead of the Fed’s Chair Powell’s speech at the Jackson Hole Symposium. The European markets snapped a 3-day winning streak. The pan-European Stoxx index declined 0.37% on Thursday

Financial stocks closed higher while tech stocks fell sharply on Thursday. The key European stock market indexes CAC and DAX closed lower by 0.45% and 0.68% respectively, while the UK’s FTSE ended slightly higher by 0.18 percent.

 

Indian Stock Market Indexes

 

Indian stock markets ended the volatile session with moderate losses on Thursday. The equity benchmarks witnessed a profit booking at higher levels in the afternoon session and closed near the day’s low. The domestic market sentiments turned negative despite the positive global cues. 

The market breadth was slightly on the positive side with the advance-decline indicating a ratio of 4:3 at the close. FIIs and DIIs both were net buyers and purchased heavily in the Indian equity markets on Thursday. FIIs bought shares worth Rs 1524.17 crore while DIIs purchased Rs 5796.61 crore.

 

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News you should read before the trade setup for today 25 Aug 2023

 

The minutes of the RBI Monetary Policy Committee (MPC) meeting held on August 8-10 revealed that the majority of the members expressed caution about the surge in retail inflation in the near term. The RBI Governor Shaktikanta Das also cautioned that retail inflation has surged significantly in the last two months due to a spike in vegetables, as per the minutes showed.

 

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Happy Investing!!

Editor’s Desk