Before Market Opens: 9 things to know at 9 am on October 27, 2022

The S&P 500 ended a three-day winning streak on Wednesday, closing in negative territory as gloomy earnings guidance added to growing fears of a global economic slowdown. The Dow Jones Industrial Average rose 2.37 points, or 0.01 percent, to 31,839.11, the S&P 500 lost 28.51 points, or 0.74 percent, to 3,830.6 and the Nasdaq Composite dropped 228.12 points, or 2.04 percent, to 10,970.99.

Asian Markets are trading higher with Hang Seng up 2 percent and Taiwan Weighted and Kospi up 1.5 percent each. Japan's Nikkei fell by 0.14 percent at 7:15 am on Thursday while the Shanghai index was trading 0.33 percent higher.

At 8:20 am, the SGX Nifty was trading 63 points or 0.36 percent higher at 17,877, indicating a positive opening for the Indian markets.

Domestic equity benchmarks the Sensex and the Nifty ended lower on October 25 amid mixed global cues. Sensex opened 171 points higher at 60,002.96 and touched an intraday high at 60,081.24, rising 250 points. It, however, witnessed profit booking and fell about 343 points in intraday trade. The index finally closed 288 points, or 0.48%, down at 59,543.96 while the Nifty50 closed with a loss of 74 points, or 0.42%, at 17,656.35.

Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3 percent, to $95.94 a barrel by 0015 GMT. US West Texas Intermediate (WTI) crude rose 19 cents, or 0.2 percent, to $88.10. US crude stocks rose 2.6 million barrels last week, according to weekly government data on Wednesday, with crude exports rising to 5.1 million barrels a day, the most ever.

The European Central Bank will raise interest rates again on Thursday and likely reel in a key subsidy to commercial banks, taking another huge step in tightening policy to fight off a historic surge in inflation. The ECB is almost certain to raise its 0.75% deposit rate by 75 basis points - for a cumulative 2 percentage-point increase in three meetings - and signal that it is not yet done, even if the size of subsequent moves remains open to debate.

The rupee rose 7 paise to 82.68 per dollar in the previous session. The rupee touched a historic low of 83.29 per dollar a couple of sessions ago and analysts believe the currency may remain volatile even as RBI's efforts have brought the rupee below 83.

Foreign institutional investors (FIIs) net sold shares worth ₹247.01 crore, whereas domestic institutional investors (DIIs) net bought shares worth ₹872.88 crore on October 25, provisional data available on the NSE shows.

Gold prices edged higher on Tuesday, supported up by a pullback in the dollar, while investors awaited further cues on the US Federal Reserve's interest rate-hike path, reported news agency Reuters.