the possibility of volatility in the Indian stock markets; Auto Stocks, Future Retail in Focus

US and European futures jumped in Asian stock markets on Monday, while bonds surrendered some of their recent gains and oil rose as Saudi Arabia raised crude prices.

November’s mixed US jobs report did little to shake off market expectations of a more aggressive tightening by the Federal Reserve, leaving a week to wait for a consumer price report that could make matters worse. Is.

Omicron remained a concern as the variant spread to about one-third of US states, although there were reports from South Africa that cases there had only mild symptoms.

Japan’s Nikkei fell 0.6% even as the government considered raising its economic growth forecast for a stimulus package worth a record $490 billion.

Wall Street was looking to rally after late Friday’s slide, with S&P 500 futures up 0.4% and Nasdaq futures 0.1%.

Back home, carmakers like Tata Motors, Honda and Renault are looking to hike prices of vehicles from January next year in view of the continued rise in input costs. The prices of essential commodities like steel, aluminium, copper, plastic and precious metals have increased significantly in the last one year.

According to Mint Exclusive, fearing loan defaults, banks have held talks with Future Retail Ltd as they fear that the troubled retailer will not be able to clear their dues on time. Since the loan has already been restructured once, a default would mark it as a failed restructuring, forcing them to make a provision of 25% once they got bad.

The Karnataka High Court has issued a notice to the Securities and Exchange Board of India (SEBI) after an investor filed a suit against the market regulator for poor handling of complaints through its grievance redressal system.

While the headline US payroll was reduced in November, households surveyed were far stronger, with a jump of 1.1 million in jobs taking unemployment to 4.2%.

For now, the short-term Treasury yield is being pushed higher, but the long-end has accelerated as investors begin to hike earlier, meaning slower economic growth over time and lower for inflation and the funds rate. will be the peak.

The ten-year US yield declined nearly 13 basis points last week and was last at 1.38%, reducing the spread to the smallest spread in two years this year. we

A rise in short-term rates has helped lower the US dollar, particularly against growth-gaining currencies viewed as vulnerable to the spread of the Omicron variant.

The US dollar hit a 13-month peak on the Australian and New Zealand dollars, but its index was relatively stable on the majors at 96.214.

The euro touched $1.1295, still well above its recent trough of $1.1184, while the dollar held steady at the safe haven yen at 113.01.

In commodities, gold got some support from a fall in long-term bond yields, but has been trading sideways in the range of $1,720/1,870 for several months. It was stable at $1,785 an ounce at the start of Monday.

Oil prices jumped after top exporter Saudi Arabia sold crude to Asia and the United States, and hit a deadlock as indirect US-Iran talks on reviving the nuclear deal hit a deadlock. Brent rose $1.45 to $71.33 a barrel, while US crude rose $1.46 to $67.72 a barrel.

(Reuters contributed to the story)