Before Market Opens: 9 things to know at 9 am on June 6, 2022

Wall Street's three major stock indexes ended lower on Friday after a solid jobs report ate in to hopes for a pause in the Federal Reserve's aggressive policy-tightening which is needed to cool decades-high inflation. The Dow Jones Industrial Average fell 348.58 points, or 1.05%, to 32,899.7, the S&P 500 lost 68.28 points, or 1.63 percent, to 4,108.54 and the Nasdaq Composite dropped 304.16 points, or 2.47 percent, to 12,012.73.

Asian shares made a muted start on Monday as caution gripped ahead of a critical reading on US inflation, while the euro gained on the yen amid wagers the European Central Bank will take a major step toward policy tightening this week. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%, while Japan's Nikkei eased 0.3 percent. S&P 500 futures and Nasdaq futures both edged up 0.1 percent.

At 8:20 am, the SGX Nifty was trading 67 points or 0.4 percent lower at 16,538, indicating a weak opening for the Indian markets.

Indian equity benchmarks ended a volatile session marginally in the red on Friday, as gains in oil & gas and IT shares were offset by losses in financial stocks. The Sensex fell 48.9 points or 0.1 percent to finish at 55,769.2 and the Nifty50 settled at 16,584.3, down 43.7 points or 0.3 percent from its previous close.

Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months. Brent crude futures were up $1.80, or 1.5 percent, at $121.52 a barrel at 2319 GMT after touching an intraday high of $121.95, extending a 1.8 percent gain from Friday. US West Texas Intermediate (WTI) crude futures were up $1.63, or 1.4 percent, at $120.50 a barrel after hitting a three-month high of $120.99. The contract gained 1.7 percent on Friday.

American employers added 390,000 jobs last month, the government reported Friday, a sign of a slowdown in hiring but still a better-than-expected result amid a shortage of workers. The jobless rate held steady at 3.6 percent for the third consecutive month, just a tenth of a point above the pre-pandemic level in February 2020, the Labor Department said.

The rupee ended 2 paise lower at 77.63 per dollar in the previous session on June 3. Brokerage firm HDFC Securities pointed out that the rebound in risk sentiments, weaker dollar index and better than expected economic data supported the local unit. However, the worries remain intact from rising crude oil prices and ballooning trade deficits.

Gold prices were steady on June 6, after dropping about 1 percent in the previous session, following a robust US jobs report that signalled more interest rate increases this year, weighing on non-yielding bullion, reported Reuters.

Foreign institutional investors (FIIs) have net sold ₹3,770.51 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of ₹2,360.51 crore worth of shares on June 3, as per provisional data available on the NSE.