Before Market Opens: 9 things to know at 9 am on July 14, 2022

World equities wavered on Wednesday as investors digested a report showing US annual consumer prices jumped 9.1 percent in June - the largest increase in more than four decades - leaving Americans to dig deeper to pay for gasoline, food, healthcare and rent. The Dow Jones Industrial Average fell 0.67 percent, the S&P 500 lost 0.45 percent, and the Nasdaq Composite dropped 0.15 percent.

Shares in Asia-Pacific fell on Thursday after a hotter-than-expected inflation report in the US. The Nikkei 225 in Japan slipped 0.11 percent, while the Topix index declined 0.32 percent. In South Korea, the Kospi was 0.66 percent lower. Australia’s S&P/ASX 200 was 0.15% higher.

Weak global cues ahead of the US inflation data influenced sentiment back home as the headline indices the Sensex and the Nifty ended in the red on July 13. With this, the market extended losses into the third consecutive session. Sensex ended 372 points, or 0.69 percent, lower at 53,514.15 with 16 stocks in the green and 14 in the red. Nifty50 closed the day 92 points, or 0.57 percent, lower at 15,966.65.

At 8:20 am, the SGX Nifty was trading 6 points or 0.04 percent lower at 15,966, indicating a flat opening for the Indian markets.

Oil prices ticked down on Thursday as investors doubled down on the possibility of a rate hike by the U.S. Federal Reserve that would stem inflation and curb oil demand. Brent crude futures for September fell 20 cents, or 0.2 percent, to $99.37 a barrel by 00:10 GMT after gaining 8 cents on Wednesday. US West Texas Intermediate crude for August delivery was at $95.93 a barrel, down 37 cents, or 0.4 percent, after rising 46 cents in the previous session.

US inflation accelerated in June by more than forecast, underscoring relentless price pressures that will keep the Federal Reserve on track for another big interest-rate hike later this month. The consumer price index rose 9.1 percent from a year earlier in a broad-based advance, the largest gain since the end of 1981, Labor Department data showed Wednesday. The widely followed inflation gauge increased 1.3 percent from a month earlier, the most since 2005, reflecting higher gasoline, shelter and food costs.

Gold dipped after rallying in the wake of a searing inflation report from the US, as investors again turned to the greenback as a haven asset, reported Bloomberg.

The rupee ended 3 paise lower at 79.63 per dollar in the previous session on July 13 as the dollar rose against its global peers after US inflation hit a fresh four-decade high in June, up 9.1% from a year earlier.

Foreign institutional investors (FIIs) have offloaded shares worth ₹2,839.52 crore, while domestic institutional investors (DIIs) net bought shares worth ₹1,799.22 crore on July 13, as per provisional data available on the NSE.