Market Bizzz

The U.S. dollar index and benchmark 10-year Treasury yields were underpinned after data showed the U.S. economy grew faster than expected in the second quarter, potentially keeping a much-feared recession at bay and increasing the likelihood that the Fed could further hike interest rates.

The Nikkei newspaper reported the central bank will maintain its 0.5% cap for the 10-year government bond yield, but discuss allowing long-term interest rates to rise above that level by a certain degree.

The Nifty index is now trading at more than 22.5 times its trailing earnings. Given this situation, it might be prudent to adopt a staggered approach when making new equity purchases and consider waiting for potential corrections to add to our equity exposure.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

The release of ChatGPT last year landed as technology giants were embarking on major layoffs and cost-cutting plans, with share prices hammered after flying high during the coronavirus pandemic.

Australian data showed consumer prices rose 0.8% in the June quarter, under forecasts of 1.0% and the smallest gain since the third quarter of 2021. The annual pace in core inflation slowed to 6.0%, from 6.6%, again under forecasts.