Power Breakfast: Good cues from global market, Dow closed at day's high, Slight sell-off in SGX Nifty
Zee Business Video Team | Updated: May 18, 2022 09:02 am
There are signs of strength from the global markets. The US markets have once again closed with a green mark. There has been a good rally in the US markets. The Dow Jones closed at the day's high by jumping 430 points. On the other hand, IT stocks have seen the most action and the Nasdaq index has closed up about 3%. Citi's stock has jumped 7% and Warren Buffett has bought shares worth $3 billion in it. Apart from this, good buying has been seen in bank shares. Walmart's stock is down 11% due to weak results and reduced guidance. On the other hand, US Fed Chairman Jerome Powell said on inflation that the Fed will not shy away from raising interest rates until inflation comes down. He said that our focus is to bring inflation back to the level of 2%. At the same time, there has been an increase of 1-1.5% in the European markets, but there is a slight sell-off in the Asian market. SGX Nifty is opening on the red mark with a slight decline today.
