Before Market Opens: 9 things to know at 9 am on July 15, 2022

The S&P 500 pared early losses to close modestly lower on Thursday after investors digested disappointing quarterly results from two large US banks and hotter-than-expected inflation data. The Dow Jones Industrial Average fell 142.62 points, or 0.46 percent, to 30,630.17, the S&P 500 lost 11.4 points, or 0.30 percent, at 3,790.38 and the Nasdaq Composite added 3.60 points, or 0.03 percent, at 11,251.19.

Chinese markets slipped as Asia stocks fell Friday ahead of China data including GDP and retail sales. In Australia, the S&P/ASX 200 dropped 1.44 percent. South Korea’s Kospi gave up early gains to decline 0.64 percent and the Kosdaq lost 0.94 percent. Japan’s Nikkei 225 was 0.13 percent higher, while the Topix index shed 0.33 percent. The Hang Seng index in Hong Kong fell 0.77 percent.

At 8:20 am, the SGX Nifty was trading 52 points or 0.33 percent higher at 15,985, indicating a higher opening for the Indian markets.

Equity benchmarks the Sensex and the Nifty ended lower for the fourth consecutive session on July 14 tracking weak global cues. After opening in the green, Sensex fell prey to profit booking and ended 98 points, or 0.18%, lower at 53,416.15. Nifty closed the day 28 points, or 0.18%, lower at 15,938.65.

Oil prices rose in early Asian trading on Friday amid uncertainty around how aggressive the U.S. Federal Reserve will be in hiking interest rates to combat rampant inflation. Brent crude futures for September delivery rose 80 cents, or 0.8 percent, to $99.90 a barrel by 0007 GMT, while WTI crude rose 69 cents, or 0.7 percent, to $96.47 a barrel. 

India's merchandise trade deficit rose to a record $26.1 billion in June 2022, 172 percent higher than June 2021 as a continuing global commodity supercycle kept the prices of key energy and metal imports high. The latest figures are higher than the government's initial estimates of $25.6 billion.. Data released by the Commerce and Industry Ministry on July 14 showed that while exports in June rose by 23.5 percent to $40.13 billion, imports shot up by 57.5 percent to $66.31 billion.

The rupee ended 24 paise lower at 79.88 per dollar in the previous session on July 14. Strong gains in the US dollar may drag the rupee further lower but a fall in crude oil prices is a matter of relief for the domestic currency.

Foreign institutional investors (FIIs) have net bought shares worth ₹309.06 crore, whereas domestic institutional investors (DIIs) net sold shares worth ₹556.40 crore on July 14, as per provisional data available on the NSE.

Gold prices traded lower amid gains in the dollar as soaring inflation fuelled concerns over rate hikes. Experts pointed out that due to recession fears, commercial and consumer demand for precious metals also declined.