Sensex Today | Stock Market Live Updates: Sensex, Nifty expect subdued start; RBI policy decision in focus
Sensex Today | Stock Market Updates: The outcome of the three-day meeting of MPC of the RBI will be revealed today and experts believe that the RBI will maintain a status quo on rates and stance on August 10. The domestic market may not see any significant reaction to the RBI MPC outcome if the central bank maintains a status quo on rates and monetary policy stance.
The highly anticipated US inflation report is also due to be revealed today. Fed officials have said repeatedly recently that their upcoming decisions on interest rates will depend on what the data tells them, and they’ve pointed to reports on inflation and the job market in particular.
Stock market today: Wall Street slips on Wednesday as markets brace for coming report on inflation
Stocks slipped Wednesday, as Wall Street braced for a highly anticipated report on inflation that’s on the way.
The S&P 500 fell 31.67, or 0.7%, to 4,467.71 for its sixth drop in the last seven days. The Dow Jones Industrial Average lost 191.13, or 0.5%, to 35,123.36, and the Nasdaq composite sank 162.31, or 1.2%, to 13,722.02 as Big Tech stocks led the declines.
A report on Thursday will offer a big clue on how warranted those hopes are. The U.S. government will give the latest monthly update on inflation that consumers are feeling across the country, and economists expect to see an acceleration to 3.3% in July from 3% in June.
Such a reading would be down sharply from its peak of more than 9% last summer, but economists say the last bit of improvement to get inflation down to the Fed’s 2% target may be the toughest part.
Fed officials have said repeatedly recently that their upcoming decisions on interest rates will depend on what the data tells them, and they’ve pointed to reports on inflation and the job market in particular. (AP)
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