Before Market Opens: 9 things to know at 9 am on September 11, 2023

Stocks gained slightly on Friday but logged in a losing week amid renewed worries that the Federal Reserve may raise the policy rates more than expected earlier. The S&P 500 edged up 0.14 percent to snap a three-day losing streak and finish at 4,457.49. The Dow Jones Industrial Average added 75.86 points, or 0.22 percent, to close at 34,576.59, while the Nasdaq Composite eked out a 0.09 percent gain to settle at 13,761.53. Major averages also capped off a losing week. The S&P and Nasdaq dropped 1.3 percent and 1.9 percent for their first negative week in three. The Dow finished about 0.8 percent lower.

Asia stock markets were softer on Monday ahead of U.S inflation September data this week with investors seeking signals about the Federal Reserve's next likely moves on interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%, after U.S. stocks ended the previous session with mild gains. Australian shares and Japan's Nikkei stock index both lost 0.25%. In Hong Kong, the Hang Seng Index was down 1.4% while China's bluechip CSI300 Index was up 0.37%.

At 8:20 am, the GIFT Nifty was trading 19 points or 0.10 percent lower at 19,918, indicating a negative opening for the Indian markets. 

Benchmark BSE Sensex rallied further 333 points to extend its winning run to a sixth straight session on Friday driven by buying in index heavyweights HDFC Bank, Larsen & Toubro and Reliance Industries.Shrugging off weak global market trends, the BSE Sensex jumped 333.35 points or 0.50 percent to close at 66,598.91. During the day, it climbed 501.36 points or 0.75 percent to 66,766.92. The broader Nifty advanced 92.90 points or 0.47 percent to settle at 19,819.95, rising for a sixth session in a row.

Oil prices eased in early Asian trade on Monday as economic concerns in China weighed on fuel demand outlook although Brent stayed perched above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts.

Foreign institutional investors (FII) sold shares worth ₹224.22 crore, while domestic institutional investors (DII) bought ₹1,150.15 crore worth of stocks on September 8, provisional data from the National Stock Exchange (NSE) showed.

Gold ticked up on Friday buoyed by a slight retreat in the dollar, while investors hunkered down for more economic data next week to gauge the Federal Reserve’s interest rate hike plans. Spot gold inched 0.1% higher at $1,920.49 per ounce by 2:06 p.m. EDT (1806 GMT). U.S. gold futures settled little changed at $1,942.70.

The rupee snapped a four-day losing streak to close 24 paise higher at 82.99 against the US dollar on Friday, helped by a firm trend in domestic equities and suspected intervention by the RBI.

The yen strengthened on Monday as comments from Bank of Japan (BOJ) Governor Kazuo Ueda stoked hopes that Japan could soon herald a new era away from negative rates, while the dollar was on the back foot ahead of this week's U.S. inflation reading.