(RTTNews) – Indian stocks are also likely to look for cautious positives at Monday’s launch as traders prepare for the first days of Trump’s 2nd term.
US President-elect Donald Trump is expected to be sworn in for a second time later in the day, and analysts expect him to approve a series of executive orders on immigration and other issues shortly after being sworn in.
Markets are more concerned about policy adjustments and the proposed tariffs may assess a devastating effect on popular countries such as China, Canada and Mexico.
FII flows, oil price movements, fund expectations and Q3 earnings might also weigh favorably on sentiment as the week progresses.
Hindustan Unilever, HDFC Bank, ICICI Bank, BPCL and Hindustan Petroleum are among the prominent companies that will announce their quarterly results this week.
Benchmark indices Sensex and Nifty fell by half a percent each Friday, hitting a successful three-day tail high.
Asian markets were broadly higher this morning after clear dialogue between Trump and Chinese President Xi Jinping on items including TikTok, the Switch and Taiwan in the name of the phone on Friday.
Overall positives were again modest as China’s central bank left its benchmark borrowing costs unchanged, attributable to pressure on the yuan.
The dollar held steady at a two-year high in Asian exchanges, while gold traded below $2,700 an ounce amid signs of easing tensions in the Middle East, while oil rose slightly on lingering concerns over Russian sanctions.
U.S. stocks rose sharply on Friday, posting weekly gains for the first time in three weeks amid optimism about the health of the financial system and the burning rate.
In financial detail, industrial production rose much more than expected in December, while US single-family home construction hit a 10-month high, separate reports confirmed.
The tech-heavy Nasdaq Composite rose 1.5 percent, while the S&P 500 gained 1 percent and the Dow added 0.8 percent, posting its biggest weekly gain since November’s presidential election week.
European stocks closed higher on Friday on optimism about escalating rate cuts following relentless feedback from Federal Reserve Governor Christopher Waller and ECB Governing Council member Yannis Stournaras.
The pan-European STOXX 600 index rose 0.7 percent, posting its fourth straight weekly surge.
The UK’s FTSE 100 jumped 1.4 percent to hit a new high, while Germany’s DAX and France’s CAC 40 rose 1.2 percent and 1 percent respectively.
U.S. stock markets will be closed today in observance of Martin Luther King Jr. Day.
The views and opinions expressed herein are those of the author and do not necessarily reflect directly those of Nasdaq, Inc.
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