By Malvika Gurung
Investing.com — The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50, traded 0.03% or 6 points lower at 8:40 am on Tuesday, indicating a flat-to-lower opening on Dalal Street.
Further, the Dow Jones Futures fell 0.4% and Nasdaq 100 Futures declined 0.35%.
The US market observed a holiday on Monday on account of Washington’s birthday.
Asian markets traded on a mixed note on Tuesday, beginning the session lower amid prospects of the Federal Reserve anticipated to continue raising interest rates for longer, following strong economic data, while investors looked for the minutes of the latest FOMC meeting in February.
“The jobs numbers aren’t getting weaker, and it’s hard to go into a recession with a strong labour market at the same time. That means the Fed could push the button and move rates higher,” said Jake Dollarhide of Longbow Asset Management.
At 8:39 am, Japan’s Nikkei 225 traded flat, South Korea’s KOSPI gained 0.17%, China’s Shanghai Composite rose 0.19%, Hong Kong’s Hang Seng declined 0.84%, and Australia’s ASX 200 fell 0.25%.
Oil prices tanked on Tuesday, pulling back sharply from a recent recovery as markets hunkered down ahead of several more cues on the US monetary policy this week, while strength in the dollar also weighed.
Brent crude plunged over 1% to $83.2/barrel and WTI Futures fell to $76.7/barrel. Natural Gas Futures dipped 0.35%.