US markets trade marginally up as investors await CPI data, S&P 500 up 0.06%; GIFT Nifty up

The US markets were marginally up on May 13 as investors grappled with rising inflation expectations. At 9:30pm IST, the S&P 500 traded flat-to-positive at 5,224.89 and the Nasdaq Composite was up 0.3 percent at 16,394.34. The Dow Jones Industrial Average also traded flat-to-positive at 39,513.75.

The US CPI numbers for the month of April are scheduled for release on Wednesday. This inflation data will chart the course for the Federal Reserve’s decision on rate cuts for the year.

The GIFT Nifty also traded positive at 0.37 percent higher at 22,248.50 as the Indian indices closed higher.

European markets descended from previous week’s gains as investors awaited US inflation data to be released this Wednesday. The FTSE was down 0.22 percent at 8,414.99 and the DAX traded 0.16 percent lower at 18,742.22. The CAC  also fell 0.12 percent to 8,209.28.

Earlier during the day, the Asian indices traded mixed. The Nikkei fell 0.13 percent to 38,179.46 while the Hang Seng surged to cross the 19000 mark, up 0.80 percent at 19,115.06.

The Indian indices also shed away intraday losses and ended higher. Nifty was up 0.22 percent at 22,104.05 and the Sensex closed 0.15 percent higher at 72,776.13.

DIIs net purchased Rs 3,562.75 crores while the FIIs/FPIs continued to net sell on first day of the new week, with net sales at Rs 4,498.92 crores.

Crude recovered from previous day’s losses and traded 0.91 percent higher at $78.97. Brent was also up 0.59 percent at $83.28.