• Market Savera - 24/07/2024

  • Jul 24 2024
  • Length: 2 mins
  • Podcast

Market Savera - 24/07/2024 By cover art

Market Savera - 24/07/2024

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  • Summary

  • U.S. stocks finished lower on Tuesday as investors awaited earnings reports from Google parent Alphabet and electric-car maker Tesla after the closing bell. Small-cap stocks gained on Tuesday as a rotation out of megacap technology companies gathered more steam. In the kickoff to "Magnificent 7" earnings, Alphabet and Tesla both reported mixed quarterly results after the bell. US two-year yields fell after a solid $69 billion auction — which reflected market bets on rate cuts. Oil slumped amid algorithmic selling and low summer liquidity. Vice President Kamala Harris is projected to have secured delegate backing to become the Democratic presidential nominee, helping settle any remaining nerves over President Joe Biden's withdrawal from the race. Kamala Harris opened up a marginal two-percentage-point lead over Republican Donald Trump after President Joe Biden ended his re-election campaign and passed the torch to her, a Reuters poll found. Most Asian stocks traded in narrow range mostly on the negative side on Wednesday following losses on Wall Street after an mediocre start to the earnings reports from the “Magnificent Seven” megacap technology companies. The Indian market displayed high volatility on the day of Union Budget 2024 on 23rd July. Nifty ended the session with a minor fall of 0.12% and ended the session at 24479. Nifty managed to close above its 20 DMA support, placed at 24311 odd levels. On the higher side 24595 and 24855 could act as resistances, while 24074 becomes the new support for the Nifty.
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