Pre Market - Snapshot - 10- June - 2021

 


US stocks lost steam ahead of key inflation data that is due today. 

Dow lost 0.44%, S&P lost 0.18% , Nasdaq traded just below flat line. The small-cap Russell 2000 that outperformed in the last few sessions lost close to 0.71%.


US 10 year surprisingly declined to multi-month lows at 1.48% on tepid economic data and high investor demand. US dollar index traded flat near 90.15. Cboe Vix moved higher near 18. 


Crude futures traded flat, WTI just below 70, Brent near 72.


Indian stocks saw some profit-taking at higher levels ahead of crucial inflation data from the US, fearing the higher deficit on the free vaccine and food grain rollout. Indices lost close to 0.65% on selling on heavyweights like RIL, ICICI. The current and possibility of some more giveback are welcome news for markets to takeout some froth building up in stocks. 


For the day, focus on weekly options expiry-related volatility and some stock-specific action on weekly positions. For the rest of the month, wait for some more consolidation before loading on to fresh positions.

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