US Stocks closed mixed on Tuesday due to lack of any substantive clues regarding the direction of the economy. The Dow Jones industrial average gained 0.1%. The S&P 500 was just positive while The Nasdaq composite lost 0.3%.
Key markets Europe closed modestly higher on Tuesday amidst lack of major economic cues globally. The UK's FTSE 100 advanced 0.45%; The German DAX 30 rose 0.21% and The French CAC 40 gained 0.10%.
Crude Oil prices slumped around 4% settling below the $72 a barrel level as investors turned their attention toward increasingly high US oil supplies and the slowing economy. Currently it is trading above the $72 mark.
Almost all Asian markets are trading positively. Japan’s Nikkei 225 increased 0.50%, Hong Kong's Hang Seng went up by 0.45%, China’s Shanghai Composite stepped up by 0.80% and Singapore's Straits Times jumped 0.95%.
Wall Street was little changed on Tuesday, while recorded a lackluster trade on a monthly basis as investors weighed meeting minutes from the Fed against upbeat economic readings on Consumer confidence and Housing. Back in Asia, major stock indices are trading with modest gains.
Stock markets in India are expected to witness a healthy opening on Wednesday. For The NSE Nifty, overall trend is seen positive till it trades above its Critical level at 5412. The first Target for the day is seen at 5448 and market may consolidate around this level for some time. However, if Nifty manages to surpass this level, rally may extend towards the Major Resistance at 5486. In any downside below Critical, strong Support exists at 5390.
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