Pre-Market-Snapshot-Jan 2 , 2023


 

US stocks fell on Friday ending its worst year since 2008. Sticky inflation, aggressive rate action by FED and worries over slowing growth continued to weigh over investors mind. Dow fell 0.22%, S&P lost 0.25% and Nasdaq closed 0.11% lower. 


USD index traded near multi-week low of 103.49, 10 year moved higher near 3.88%, Cboe vix moved higher near 21.67. 


Crude futures gained almost 3% as USD index eased, WTI moved near 81, Brent near 86. 


Indian stocks ended in red on the last trading day of 2022, stocks traded in a narrow range before ending down on Friday. Sensex lost nearly 300 points, Nifty gave back 85 points at close. 


Markets may start to show some definitive trend as volumes turn normal post holiday season. New year allocation and pre-budget built up may dominate trade for couple of weeks from hereon. Participants may watch for development on the same before committing fresh money to the market. Early indications may provide a hint to the probable chart busters of 2023 and chances are they may be a bit different from outperformers of 2022.

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