Seven important triggers that changed your market while you were sleeping

Good morning, dear ETMarkets reader!

Stock markets appeared to be breathing easy on Monday morning as the odds of a Donald Trump presidency in the US widened following his vulgar comments about women, but Fed rate hike has once again taken the global economic spotlight at another extreme. Back home, some analysts expect the domestic market to see some correction this week going into the September quarter earnings seasons.

All of these and more in today's digest of news, views and cues that would have changed your market while you were sleeping.

US jobs data in focus: Dalal Street is expected to react to the US monthly non-farm payroll data for September, which was down from August. Hawkish comments by Fed officials and data indicating that US unemployment benefit claims fell to the lowest level in nearly four decades in the week ended October 1 have strengthened the case for a rate hike by the US central bank.

Macro numbers hold key: A host of macro data will steer the doemstic equity indices during the week, including the the industrial production data for August to be out later today, September retail inflation print to be released on Thursday and wholesale inflation to be out on Friday. India's industrial production contracted by 2.4 per cent in July, registering its worst performance in eight months. Another set of weak data is bound to hurt investor confidence on the Street.


Nifty technical setup weak: The Nifty50 closed below its crucial support at 8,700 on Friday and most experts think the trading range might shift down from 8,900-8,700 to 8,500-8,800 levels going forward. Analysts said as long as the market trades below the 8,800 level, it is likely to stay weak or at best rangebound.

D-Street bracing for weak IT earnings: Index major TCS will report its September quarter earnings on October 13 and Infosys the next day. Expectations are low from IT companies after their managements came out with profit warnings for the quarter due to challenges in BFSI verticals and client-specific issues weighing on growth. Among others, IndusInd Bank will announce its Q2 results on Wednesday.

Trump presidency chances weaken: Market breathed easy as the odds of a victory by Republican nominee Donald Trump for the US presidential bid widened following his vulgar comments about women. Trump faces the biggest crisis of his 16-month-old campaign after a tape of him making vulgar comments about women deepened fissures with establishment Republicans. On Sunday, he struck a defiant tone in the face of calls for him to abandon the race.

Good signal from US: US stock index futures opened higher on Sunday ahead of a key US presidential debate, which will be the first time the candidates face off after a video surfaced of Republican candidate Donald Trump making lewd comments about women. On Friday, Wall Street had closed down, with the Dow shedding 0.15 per cent, while the S&P500 0.33 per cent and Nasdaq 0.27 per cent.

Crude oil prices weaken: Curde oil prices dipped further early Monday as players took profits following a strong rally last week spurred by talk of OPEC output cuts. Benchmark Brent was off 13 cents at $51.80 a barrel, while US crude eased 13 cents to $49.68.