Pre Market - Snapshot - 23-08-2021

 


US stock indexes closed higher on Friday but still ended with losses for the week on fears of rising Covid Delta variant cases, the imminent tapering of Federal Reserve and China’s restrictions on its economy.Dow gained 0.65%, Nasdaq lead the pack with gains of 1.19%, S&P added 0.81% to Thursday's close. The small cap Russell 2000 outperformed with gains of near 1.65%. 


US dollar index traded flat just below 93.50, 10 year traded near 1.26%,  Cboe Vix declined near 18.56. 


Crude futures continued to trade lower, Brent below 65.50, WTI near 62. 


Indian stocks continued to decline on Friday lead by Banking and Metal names. Global equity market sentiment, fears of Fed taper and rising global Covid cases lead to further sell-off in Indian markets. Sensex saw a cut of 0.54% and Nifty closed 0.71% lower. 


For the week watch for August series expiry related moves and Jackson Hole symposium outcome for near term direction on markets. Also watch for some attractive entry points in broader markets that have seen large sell-off over last few days.

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