Before Market Opens: 9 things to know at 9 am on October 28, 2022

The S&P 500 and the Nasdaq posted losses on Thursday, as investors contended with solid economic data and a mixed bag of corporate earnings. The price-weighted Dow advanced, held aloft by industrials, while weakness in market-moving tech and tech-adjacent mega-caps depressed the S&P 500 and Nasdaq in the wake of downbeat quarterly results and dour guidance. The Dow Jones Industrial Average was up 194.17 points, or 0.61 percent, to 32,033.28, the S&P 500 lost 23.3 points, or 0.61 percent, to 3,807.3 and the Nasdaq Composite dropped 178.32 points, or 1.63 percent, to 10,792.68.

Shares in the Asia-Pacific fell ahead of the Bank of Japan’s interest rate decision and a slew of companies in the region reporting earnings. The Nikkei 225 in Japan fell 0.63 percent, while the Topix was fractionally lower. was slightly lower. In Australia, the S&P/ASX 200 was down 0.49 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.42 percent.

At 8:20 am, the SGX Nifty was trading 65 points or 0.36 percent higher at 17,868, indicating a positive opening for the Indian markets.

Equity benchmarks Sensex and Nifty settled on a positive note on Thursday, helped by buying in metal and realty stocks amid mixed global market trends. The 30-share BSE benchmark climbed 212.88 points or 0.36 per cent to settle at 59,756.84. During the day, it jumped 415.98 points or 0.69 per cent to 59,959.94. On similar lines, the broader NSE Nifty advanced 80.60 points or 0.46 per cent to end at 17,736.95.

Oil rose more than $1 a barrel on Thursday, extending the previous day's rally of nearly 3 percent, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China. Data showed record US crude exports, a hopeful sign for demand. Speculation that central banks could be nearing the end of rate-hiking cycles added support, after the European Central bank raised rates by 75 basis points. Brent crude settled up $1.27, or 1.3 percent, to $96.96 a barrel while US West Texas Intermediate (WTI) crude settled up $1.17, or 1.3 percent, to $89.08 a barrel.

Economic growth rebounded over the summer, the latest government data shows, but slowing consumer spending and a rapidly weakening housing market mean the report will do little to ease fears of a looming recession. Gross domestic product, adjusted for inflation, rose 0.6 percent in the third quarter, a 2.6 percent annual rate of growth, the Commerce Department said Thursday. It was the first increase after two consecutive quarterly contractions.

Foreign institutional investors (FIIs) have net bought shares worth ₹2,818.40 crore, whereas domestic institutional investors (DIIs) net sold shares worth ₹1,580.10 crore on October 27, as per provisional data available on the NSE.

The rupee appreciated 24 paise from its previous close to settle at 82.49 against the US dollar on Thursday.

Spot gold gained 0.2 percent to $1,668.3 per ounce as of 7:31 am on Friday.