The US markets traded marginally higher on May 28, ahead of inflation data to be released later this week. The Personal Consumption Expenditures Price Index (PCE), which is the Federal Reserve’s preferred measure of inflation, will be released on May 31. Last week, the Federal Reserve’s meeting minutes hinted at low possibilities of rate cuts and a ‘higher-for-longer’ narrative.
At 8:45pm IST, the S&P 500 traded flat-to-positive at 5,306.99 and the Nasdaq Composite was up 0.48 percent at 17,001.45. However, the Dow Jones Industrial Average fell 0.35 percent to 38,932.29.
The GIFT Nifty also fell 0.15 percent to 22,882.00 after Indian indices ended in red earlier during the day.
Indian indices descended from previous week’s rally and ended negative. The Nifty fell for a third day in a row, down 0.19 percent at 22,888.15. The Sensex ended 0.29 percent lower at 75,170.45.
The European indices declined on May 28 as German inflation came in slightly higher than expected. The DAX fell 0.49 percent to 18,683.04 and the CAC tumbled nearly a percent to 8,053.79. The FTSE also fell 0.75 percent to 8,255.05.
Earlier during the day, the Asian indices edged lower owing to weak global cues. The Nikkei ended 0.11 percent lower at 38,855.37 and the Hang Seng traded flat-to-negative at 18,821.16.
FIIs/FPIs net purchased Rs 65.57 crores in Indian equities and the DIIs net bought Rs 3,231.67 crores.
Crude continued to rise for a third day in a row and surged 2.53 percent to $79.69. Brent also traded 1.08 percent higher at $84.00.
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