Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50, traded 0.21% or 40 points higher at IST 8:54 am (GMT 3:24 am) on Wednesday, indicating a marginally higher opening on Dalal Street ahead of the U.S. Fed’s interest rate decision.
Further, the Dow Jones Futures declined 0.25% and Nasdaq 100 Futures traded flat.
Major U.S. indices ended high on Tuesday following the CPI inflation for May coming in lower than expected, boosting sentiments that the Fed will pause the interest rate hike on Wednesday.
The U.S. FOMC is set to release the rate hike data later today and investors will remain fixated on the press conference from Federal Reserve policymakers.
Nasdaq Composite and S&P 500 closed at a 14-month high in the overnight session, while Dow Jones gained 0.43%.
Asian shares were mostly up on Wednesday with Japan’s Nikkei 225 clearing fresh 33-year highs, following an overnight rally on Wall Street as the inflation report boosted bets of a pause in the Fed’s rate hike at June’s policy meet. Investors will focus on Fed Chair Jerome Powell’s post-policy press conference today.
At IST 8:58 am, Japan’s Nikkei surged 0.87%, South Korea’s KOSPI declined 0.26%, Hong Kong’s Hang Seng index traded flat, China’s Shanghai Composite rose 0.2% and Australia’s ASX 200 advanced 0.18%.
Oil prices traded flat in the morning trade following a strong rally in the prior session. Brent crude rose to $74.34/barrel and WTI Futures traded at $69.39 a barrel. Natural Gas Futures declined 1.07%.