Before Market Opens: 9 things to know at 9 am on December 29, 2022

Wall Street's main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023. The Nasdaq Composite ended at 10,213.288, the lowest since the bear market began in November 2021 after the index hit a record high. The last time the Nasdaq ended lower was in July 2020. Its previous closing low for 2022 was 10,321.388 on Oct. 14. The Dow Jones Industrial Average fell 365.85 points, or 1.1 percent, to 32,875.71; the S&P 500 lost 46.03 points, or 1.20 percent, at 3,783.22; and the Nasdaq Composite dropped 139.94 points, or 1.35 percent, to 10,213.29.

Asian Markets were trading lower in the early trade on Thursday with Nikkei, Kospi, Taiwan Weighted down 1 percent each, while Straits Times down 0.5 percent.

At 8:20 am, the SGX Nifty was trading 80 points or 0.44 percent lower at 18,057, indicating a negative opening for the Indian markets. 

Equity benchmarks the Sensex and the Nifty ended lacklustre on December 28 in light of weak global cues as investors remained cautious observing the Covid situation in China. Sensex closed at 60,910.28, down 17 points, or 0.03 percent while the Nifty ended the day at 18,122.50, down 10 points, or 0.05 percent.

Oil prices settled lower on Wednesday as traders weighed concerns over a surge in COVID-19 cases in China, the world's top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand. Brent crude futures fell $1.07, or 1.3 percent, to settle at $83.26 a barrel, while U.S. West Texas Intermediate crude futures settled at $78.96 per barrel, down 57 cents, or 0.7 percent.

The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as COVID-19 curbs loosen. The dollar rallied by as much as 0.67 percent against the yen to 134.40 in Asian trading, the most since Dec. 20, when the Bank of Japan sent the pair spiraling lower with an unexpected loosening of the 10-year Japanese government bond yield policy band. The dollar was last up 0.55 percent against the Japanese yen at 134.240.

Foreign institutional investors (FIIs) have net-offloaded shares worth ₹872.59 crore, while domestic institutional investors (DIIs) net-purchased shares worth ₹372.87 crore on December 28, as per provisional data available on the NSE.

Gold prices inched up in international markets on December 29 as the US dollar eased. Investors' focus shifts to the US weekly initial jobless claims data due later today to get an indication on the rate hike plans of the US Fed.

The rupee slipped by a paise to close at 82.87 per dollar in the previous session as strong dollar index and sustained selling by foreign investors put downside pressure on the domestic currency.