Before Market Opens: 9 things to know at 9 am on June 20, 2022

US stocks closed with a modest bounce on Friday but still suffered the biggest weekly percentage decline in two years as investors wrestled with the growing likelihood of a recession while global central banks tried to stamp out inflation. The Dow Jones Industrial Average fell 38.29 points, or 0.13 percent, to 29,888.78, the S&P 500 gained 8.07 points, or 0.22 percent, at 3,674.84 and the Nasdaq Composite added 152.25 points, or 1.43 percent, at 10,798.35.

Asian shares were unable to sustain a rare rally on Monday as Wall Street futures shed early gains amid worries that the US Federal Reserve would this week underline its commitment to fighting inflation with whatever rate hikes were needed. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.8 percent and Tokyo's Nikkei 1.4 percent.

Indian equity benchmarks ended a choppy session mildly lower on Friday, extending losses to the sixth session in a row, dragged by weakness in IT shares though strength in financial stocks limited the downside. BSE Sensex declined 135.37 points or 0.26 percent to settle at 51,360.42. The NSE Nifty went lower by 67.10 points or 0.44 percent to end at 15,293.50.

At 8:20 am, the SGX Nifty was trading 65 points or 0.4 percent lower at 15,283 indicating a negative opening for the Indian markets.

Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand. Brent crude futures gained 20 cents, or 0.2%, to $113.32 a barrel by 0105 GMT, after rising as much as 1% earlier. U.S. West Texas Intermediate crude was at $109.55 a barrel, down 1 cent after rising more than $1 in early morning deals.

BofA Securities economists see roughly a 40 percent chance of a US recession next year, with inflation remaining persistently high. They expect US Gross Domestic Product growth to slow to almost zero by the second half of next year as the lagged impact of tighter financial conditions cools the economy, while they see just a modest rebound in growth in 2024, according to a research report Friday.

The rupee advanced 5 paise to settle at 78.05 against the US dollar on Friday amid a muted trend in domestic equities and unabated foreign capital outflows.

Foreign institutional investors (FIIs) have net sold ₹7,818.61 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of ₹6,086.92 crore worth of shares on June 17, as per provisional data available on the NSE.

Gold prices were flat on Monday after declining in the previous session, as an elevated dollar continued to make greenback-priced bullion less attractive for overseas buyers. Spot gold was little changed at $1,839.79 per ounce as of 0056 GMT, with the dollar index hovering near its highest levels in about two decades. U.S. gold futures were flat at $1,840.30.