Sensex, Nifty Set To Fall As Oil Prices Jump After Hamas Attack

(RTTNews) - Indian shares look set to open lower on Monday as stronger-than-expected U.S. jobs data complicated the future path of interest rate rises in the world's biggest economy. The Fed will hold its next policy meeting on Oct. 31-Nov. 1.

A big jump in oil prices may also spook investors after Hamas' surprise attacks on Israel over the weekend.

Both Brent and WTI crude prices were up around 4 percent in Asian trading on concerns that the latest events in Israel could spiral into a more devastating proxy war and lead to oil supply disruptions.

Meanwhile, the week ahead is packed with key macroeconomic data including reports on CPI inflation, WPI inflation and trade balance.

IT bellwether TCS will kickstart the corporate earnings season by announcing its September quarter results on October 11.

Asian markets traded mixed this morning due to ongoing geopolitical tensions in the Middle East. Regional trading volumes remained thin due to holidays in Japan and South Korea.

Trading in Hong Kong has been halted for the morning session after the country raised its typhoon warning to Signal 8 for Typhoon Koinu.

Gold prices rose over 1 percent on safe-haven demand, shrugging off the dollar's strength and the upward spike in Treasury yields.

U.S. stocks rose sharply on Friday after data showed the economy added 336,000 jobs in September compared to estimates for an increase of about 170,000 jobs.

The report also showed notable upward revisions to the July and August job gains, triggering a sharp hike in Treasury yields.

However, yields pulled back well off their highs after wages rose less than expected last month.

The S&P 500 rose 1.2 percent to snap a four-week losing streak, while the Dow gained 0.9 percent and the tech-heavy Nasdaq Composite jumped 1.6 percent.

European stocks closed firmly in positive territory on Friday after suffering a setback around mid-afternoon on concerns about the outlook for U.S. interest rates.

The pan European STOXX 600 advanced 0.8 percent. The German DAX rallied 1.1 percent, France's CAC 40 climbed 0.9 percent and the U.K.'s FTSE 100 added 0.6 percent.