Indian Shares Seen Opening On Muted Note

(RTTNews) - Indian shares are seen opening on a muted note on Monday, tracking mixed cues from global markets as strong U.S. jobs data reinforced bets of a Federal Reserve interest-rate hike in December.

Lingering global concerns surrounding the AI trade, September-quarter earnings, the release of domestic inflation data, and flow of foreign funds may influence trading sentiment as the holiday-shortened week progresses.

Benchmark indexes Sensex and Nifty ended marginally lower on Sunday's special Muhurat trading session, snapping their seven-session winning streak.

Asian markets were mixed this morning while U.S. equity futures ticked lower after Nvidia's board said it's probing CEO Jensen Huang's spy case.

China's annual consumer price inflation slowed to 0.7 percent in October from 0.9 percent in September, the National Bureau of Statistics reported earlier today - missing analyst expectations of 0.8 percent.

The producer price index accelerated to 5.7 percent from 5.0 percent in September due to higher global oil and commodity costs.

The U.S. dollar held near recent highs while gold rebounded to trade above $4,100 an ounce as investors braced for key U.S. inflation data due this week for additional clues on the rate outlook.

Traders currently assign an almost 80 percent probability of a Federal Reserve rate hike by year-end.

Brent crude futures fell nearly 1 percent to trade below $98 a barrel in early Asian trade, extending last week's losses after U.S. President Donald Trump said he was highly unlikely to order more attacks on Iran as long as talks continue on Iran's nuclear program and reopening the Strait of Hormuz.

However, he left the door open for additional strikes, claiming three U.S. aircraft carriers were positioned in the region and that the U.S. had identified Iranian bridges and power plants as potential targets.

Ahead of a G7 meeting in France, U.S. Secretary of State Marco Rubio said Iran talks have made no progress, describing Tehran's demands so far as unacceptable and warning that the U.S. could respond to threats against its forces.

Yemen's Houthi rebels on Saturday claimed responsibility for six missile and drone attacks on Saudi targets, including Aramco facilities, Riyadh airport, and troops on both sides.

U.S. stocks ended mixed on Friday as tech stocks steadied after suffering one of their worst routs in years on concerns over an AI investment slowdown.

Overall gains remained capped somewhat as a strong October jobs report added to the case for a December rate hike by the Federal Reserve.

Treasury yields rose as data showed non-farm payroll employment jumped by 165,000 jobs in October compared to economist estimates for the addition of 62,000 jobs.

The unemployment rate ticked down to 4.1 percent from 4.2 percent in September and there was a net upward revision of 84,000 jobs in the previous two months, adding to signs of labor-market strength.

Separate data revealed that a measure of U.S. consumer sentiment rose in November to the highest level in three months despite lingering concerns about inflation, stock turbulence, and a potential AI bubble.

While the Dow dropped half a percent, the S&P 500 rose 0.3 percent and the tech-heavy Nasdaq climbed 1.1 percent after Thursday's dramatic sell-off.

European stocks fell sharply on Friday on fears of tighter AI regulation in the United States, following the Democrats' sweeping victory in the midterm elections.

The pan-European STOXX lost 1 percent. The German DAX tumbled 1.9 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 fell 1 percent.