10 things you need to know before the opening bell on July 6
1. Wall Street: Stocks closed higher on Wall Street, with the S&P 500 posting its seventh straight gain and seventh consecutive all-time high. The S&P 500 and Nasdaq rose 0.8 percent and Dow rose 0.4 percent after a report showed the nation’s job market was stronger last month than expected.2. Asian stocks: Shares in major Asia-Pacific markets struggled for direction in Tuesday morning trade as investors look ahead to the Australian central bank’s interest rate decision. The Nikkei 225 in Japan rose 0.29 percent. Over in South Korea, the Kospi gained 0.51 percent. Mainland Chinese stocks declined. Hong Kong’s Hang Seng index fell 0.5 percent. Meanwhile, stocks in Australia climbed as the S&P/ASX 200 advanced 0.18 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded around the flatline.3. D-Street: The Indian market ended near record close on Monday, boosted by metals and financials, as investors hoped for a strong corporate earnings season. The Sensex ended 395 points higher at 52,880 and the Nifty rose 112 points to settle at 15,834.4. Crude oil: Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off. But concerns that members may start to increase production capped gains. Brent crude was up 0.1 percent at $77.23 a barrel by 0052 GMT. US WTI crude futures were at $76.38 a barrel, up 1.6 percent, from Friday’s close.5. Gold: Gold on Monday gained Rs 69 to Rs 46,408 per 10 grams in line with firm global trends. Silver also jumped Rs 251 to Rs 69,035 per kg, from Rs 68,784 per kg in the previous trade. In the international market, gold was trading higher at USD 1,793 per ounce and silver was flat at USD 26.60 per ounce.6. Rupee: The rupee surged by 43 paise, its best single-session gains in nearly three months, to settle at 74.31 against the US dollar on Monday, tracking stronger Asian peers against the American currency and a firm trend in the domestic equity market. Meanwhile, the dollar index dipped 0.08 percent to 92.15.7. Cryptocurrency: Bitcoin, the largest cryptocurrency in the world, was trading nearly 2 percent lower at $33,770, erasing the weekend gains when it touched $36,000. Ether was also trading 2.15 percent lower at $2,211.8. India services activity: The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Continue reading9. SEBI: Stock exchanges and other market infrastructure institutions, as well as their top officials, are liable to face penalties for lapses in handling and rectifying technical glitches, with Sebi putting in place a stricter compliance system driven by “financial disincentives”. Continue reading10. RBI: The government’s Emergency Credit Line Guarantee Scheme (ECLGS) significantly boosted credit growth for the micro, small and medium enterprises (MSMEs) in the financial year ending March 2021 even as concerns about asset quality of this segment grew, data from the Reserve Bank of India showed. Continue reading
