US markets trade mixed as PPI data falls 0.2%; S&P 500 flat, Nasdaq hits fresh high

Global Markets Outlook

The US markets traded mixed on June 13 as the Producer Price Index for May fell 0.2 percent from the previous month. The Dow Jones had estimated a 0.1 percent increase. This came a day after the consumer price index reported slower than expected growth and the Federal Reserve announced to keep interest rates unchanged.

Nasdaq Composite continued to rally and hit a fresh all-time high of 17,741.80 during intraday as Nvidia surged to new highs. The index was trading 0.30 percent higher at 17,660, at 9:15pm IST and the AI chipmaker Nvidia traded nearly 3 percent higher at $128.92. The S&P 500 traded flat-to-positive at 5,422 while the Dow Jones Industrial Average declined 0.58 percent to 38,489.

The GIFT Nifty declined 0.19 percent to 23,370 despite the Indian indices reaching new highs earlier during the day.

Indian indices extended their rally for a second day in a row with the Nifty ending 0.33 percent higher at 23,398.90. The index created a new 52-week high of 23,481.05 during intraday trade. The Sensex also hit a fresh record of 77,145.46 and ended 0.27 percent higher at 76,810.90.

The European indices ended lower on Thursday as investors reacted to the US inflation data and the Federal Reserve’s announcement. The FTSE declined 0.63 percent to 8,163.67 and the DAX tumbled nearly 2 percent to 18,263.94. CAC also ended 2 percent lower at 7,708.02.

Earlier during the day, the Asian indices traded mixed. Nikkei ended 0.40 percent lower at 38,720.47 while the Hang Seng edged nearly 1 percent higher to 18,112.63.

DIIs net sold Rs 553.88 crores in Indian equities and the FIIs/FPIs net sold Rs 3,033.00 crore.

Crude broke away from its three-day gaining streak and fell 0.47 percent to $78.13. Brent also declined 0.39 percent to $82.28.