US markets decline as job openings fall to lowest in 3 years; S&P 500 down 0.36%, GIFT Nifty up

Global Markets Outlook

The US markets continued to decline for a second day into the new month on June 4, after employment data showed job openings in the economy fell to their lowest levels in nearly three years. The Labor Department showed 8.06 million vacancies in April as against the Dow Jones forecast of 8.4 million.

At 9:15pm IST, the S&P 500 fell 0.36 percent to 5,265 and the Nasdaq Composite traded 0.36 percent lower at 16,769. The Dow marginally declined 0.10 percent to 38,531.

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The GIFT Nifty traded positive, up 0.21 percent at 21,993, mildly recovering from the day’s losses.

Indian markets fell massively on June 4 as Lok Sabha election results showed the BJP-led NDA alliance winning with a slim majority as against the exit polls predictions. The indices receded from the previous day’s record high rally as Nifty dragged 5.93 percent to 21,884.50 and the Sensex ended 5.74 percent lower at 72,079.05.

The European markets declined marginally ahead of the European Central Bank’s decision on interest rates coming in later this week. FTSE fell 0.37 percent to 8,232 and the DAX tumbled over 1 percent to 18,418. The CAC also fell 0.75 percent to 7,938.

Earlier during the day, the Asian markets traded mixed. Nikkei ended 0.22 percent lower at 38,837.46 while the Hang Seng edged 0.22 percent higher to 18,444.11.

DIIs net sold Rs 3,319 crore in Indian equities and FIIs/FPIs sold massively, with net sales for the day at Rs 12,436 crore.

Crude fell for a fifth day in a row, down 1.58 percent at $73.05. Brent also fell 1.47 percent to $77.21.