Pre Market - Snapshot - 06-09-2021


 

US stocks were mixed on Friday post the August jobs report which showed a sharp deceleration in hiring last month amidst the Delta variant's latest spread. Dow saw a cut of 0.21%, S&P closed just below the flat line after hitting intraday record highs, Nasdaq on the other hand moved higher by 0.21% closing at new record highs. The small cap Russell 2000 that was outperforming since a few days closed down by almost 0.52%.


US dollar index continued to drift down to close near 92.10 after witnessing intraday lows below 92, 10 year moved higher near 1.32%, Cboe Vix traded near flat level of 16.41. 


Crude futures traded almost flat, WTI below 69, Brent near 72. 

Indian stocks moved higher on Friday into fresh record close levels. Sensex crossed 58000 and the Nifty too comfortably rose above 17300. The rise was witnessed across market caps and sectors, though the uptick in midcaps and small caps was a bit muted. Markets took cues from improving general pandemic conditions, the GDP number indicating a continuing revival in economic activity.


For the week watch out for continuation of current trend with some volatility and may be used for some profit booking for some givebacks later during  the September series. Do not chase stocks into the indicated resistance zone as stocks may see some profit taking at higher levels for a while.

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