Trade Setup for Thursday 8 Dec: Stock Market News

 

Trade setup for Thursday 8 Dec– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are mostly trading in the red on Thursday amid negative cues from Wall Street overnight. Nikkei and Shanghai are trading lower by 0.97 percent and 0.18 percent respectively while Heng Seng is trading higher by 1.43 percent. SGX Nifty is trading lower by only 12 points or 0.07 percent at 18659 levels.

The indication getting from the Asian markets is slightly negative, Indian stock markets are likely to start on a cautious note. Today domestic markets are expected to remain volatile due to weekly expiry.

 

The US and European stock market indexes update

 

The US stock markets closed mostly in the red on Wednesday, as investors continued to worry that strong than expected economic data will prompt Fed officials to be aggressive in next week’s meeting, potentially weighing on the economy next year. Travel and Leisure stocks fell due to recession fear while Energy stocks closed flat on Wednesday.

The US benchmark indices Dow Jones gained only 1 point and closed flat while S&P 500 and Nasdaq closed lower by 0.19 percent and 0.51 percent respectively.

European stock market indexes closed lower on Wednesday as investors were concerned about the outlook of the global economy. On Tuesday, the CEO of JP Morgan Chase told that American consumers are still supporting the US economy and consumer spending, but they may change in 2023, this has worried investors the most.

Oil & gas stocks lead the losses followed by mining stocks while healthcare stocks closed higher. Pan- European STOXX 600 fell 0.6 percent. The European benchmarks, FTSE and CAC closed lower by 0.43 percent and 0.41 percent respectively while DAX was down by 0.57 percent on Wednesday.

 

 

Indian stock market updates

 

Indian stock markets closed lower after a volatile trading session on Wednesday. Markets extended their previous session losses after RBI monetary policy was announced, and the outcome was in line with the expectation. The market breadth was negative today, with the advance decline indicating a ratio of 3:4 at the close. FIIs were the net sellers in the equity cash market segments they sold Rs 1241.87 crore while DIIs bought Rs 388.85 crore worth of shares on Wednesday.

 

News you should read before the trade setup for today 8 Dec 

 

Days, after the EU agreed on a price cap on Russian seaborne oil, India on Wednesday, said the impact of the move was unclear and it was concerned about the stability and affordability of the energy markets. Indian refiners will continue to look for the best deals in the interest of the country, External Affairs Minister S Jaishankar told the Rajya Sabha. Read the details on economic times here

Crude Oil fell more than 2 percent on Wednesday to its lowest since January 2022, after U.S. government data showed an unexpectedly large build in fuel stocks. The fears about the demand for crude oil already exist due to recession worries and covid restrictions in China. The Brent crude oil prices are trading marginally higher at $77.56 per barrel on Thursday morning.

 

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