Stock Market LIVE Updates: Gift Nifty indicates positive start; Asian stocks gain

US Treasury yields rose on Monday following a New York Fed survey indicating consumer expectations of a 3.3% annual price increase, up from around 3% in recent months. Higher yields and interest rates usually hinder gold, which doesn’t offer interest. Later on Tuesday, markets will analyze producer prices data to gauge its impact on the Fed’s preferred inflation gauge, the personal consumption expenditures price index. Fed Chair Jerome Powell is also set to speak.

LME commodity prices traded higher, with LME Copper leading the gains, up 1.81 percent. LME Nickel followed, rising 1.5 percent, while LME Iron Ore gained 1 percent. LME Aluminum and Steel also saw increases, up 0.5 percent and 0.25 percent respectively.

#1 Dow snaps 8-day winning streak amid inflation jitters; Nasdaq outperforms

#2 GameStop, AMC shares soar in extended trading

#3 Asian markets largely higher; Nikkei rises amid steady inflation data for April

#4 USD edges up post US consumer sentiment data

#5 US 10-year yield eases ahead of US CPI data

#6 Oil rises on demand optimism; gold dips on profit taking

#7 GIFT Nifty shows Nifty on track to extend gains

Gold remained steady just above $2,335 an ounce as traders awaited key US inflation data, which could influence Federal Reserve monetary policy. The precious metal held after a 1% loss in the previous session, with traders booking profits ahead of Wednesday’s release of US consumer inflation data. Persistent inflation challenges have hindered the central bank’s plans to lower borrowing costs this year.

Asia-Pacific markets mostly rose despite a stumble on Wall Street, breaking the Dow Jones Industrial Average’s eight-day winning streak. Japan saw steady corporate inflation but a 6.4% jump in import prices. Japan’s Nikkei 225 gained 0.7%, South Korea’s Kospi rose 0.18%, and Australia’s S&P/ASX 200 dipped 0.08%. Hong Kong’s Hang Seng index is set to extend gains, with futures at 19,209 compared to the last close of 19,115.06.

Dow Jones, S&P500, and Nasdaq closed steady ahead of crucial inflation readings and earnings reports this week, as a survey revealed consumer concerns about rising prices. The Federal Reserve Bank of New York survey released Monday showed expectations of 3.3% inflation a year from now, up from March’s 3%, while projecting 2.8% inflation three years ahead. A University of Michigan report on Friday indicated a decline in consumer sentiment to a six-month low in May due to worries about living costs. Investors remained cautious before the April Consumer Price Index (CPI) release on Wednesday, along with upcoming data on producer price index, retail sales, weekly jobless claims, and earnings reports from major retailers like Home Depot and Walmart this week.