The global market is sending mixed signals as Asia faces initial pressure while GIFT NIFTY shows slight gains. US markets, on the other hand, remain resilient in anticipation of the Federal Reserve’s interest rate decision today. The Dow closed higher for the 12th consecutive day at 35,438, with gains of 26 points. NASDAQ also saw a rise of 85 points, and S&P gained 12 points.
Global Market Signals: Asia Under Pressure, US Markets Anticipate Fed Decision
Some leading companies have reported positive quarterly results. Luxury conglomerate LVMH recorded an impressive 17% jump in sales during Q2. Tech giant Alphabet witnessed a 7% revenue growth, amounting to $74.6 billion, while Google Cloud’s revenue surged by 28% to $8 billion. Furthermore, GE and 3M registered gains of 6.2% and 5.3%, respectively. Meanwhile, VISA’s revenue soared by 12% to $8.1 billion, with net income growing by 22% to $4.2 billion.
US Markets Continue Resilience: Dow Records 12th Consecutive Day of Gains
The market eagerly awaits the US Federal Reserve’s decision on interest rates, with speculations suggesting a potential rate hike – the 11th time since March 2022. Asian markets, however, present a mixed picture, with GIFT NIFTY declining by 11.50 points, Nikkei showing a slight decline of 0.04%, and Strait Times enjoying a 0.41% increase. Taiwan’s market is up by 0.08%, while Hangseng faces a decline of 0.62%, and Kospi down by 0.32%. The Shanghai Composite also experiences a decrease of 0.18% at 3,225.85.