Global markets: SGX Nifty to Dollar Index — key triggers for stock market today

Here we list out key global market triggers that may dictate Indian stock market today:

Asian markets

Stocks fell in Asia following declines in US benchmarks as fears of a banking crisis resurfaced.Benchmark indexes from Japan dropped after the S&P 500 slid 1.6% on Tuesday and the Nasdaq 100 dropped 1.9%. Futures for Hong Kong equities also traded lower.

SGX Nifty

In the early hours of trade, SGX Nifty was lower by 32 points, or 0.18%, compared to Nifty Futures’ previous close. This indicates an opening in the red for the Indian market

US markets

All three major indexes ended the session down 1% or more, with the tech-laden Nasdaq plunging 2%, its biggest single-day slide since March 9.The S&P 500 and the Dow suffered their largest one-day percentage drops in a month.

First Republic Bank shares tumbled 49%

First Republic Bank had the biggest loss in the S&P 500 by far, and its stock nearly halved after it said customers withdrew more than $100 billion during the first three months of the year.

A report on Tuesday showed that confidence among consumers fell more sharply in April than expected, down to its lowest level since July. That’s a discouraging signal when consumer spending makes up the biggest part of the U.S. economy.

On Thursday, the U.S. will give its first estimate of how much the economy grew during the first three months of the year. Economists expect to see growth cooled to a 1.9% annual rate, down from 2.6% at the end of 2022.

Alphabet, Microsoft earnings

Alphabet Inc and Microsoft Corp reported their earnings for the first-quarter after market close on Tuesday.

Microsoft Corp. reported quarterly profit and sales that topped projections. Shares jumped more than 8% in late trading. In the fiscal third quarter, which ended in March, profit was $2.45 a share, and sales rose 7.1% to $52.9 billion, the software maker said in a statement Tuesday

Both Alphabet’s revenue and profit exceeded the tempered expectations among analysts polled by FactSet Research. That — and a $70 billion stock buyback plan — helped lift Alphabet’s stock price by about 2% in extended trading after the numbers came out.

In a busy week for earnings, 178 of the S&P 500 companies are expected to report first-quarter results.

Gold

Gold prices gained as investors awaited a slew of economic data later in the week that could sway the Federal Reserve’s policy decisions. Spot gold added 0.4% to $1,997.63 an ounce.

Crude

Crude prices reversed Monday’s gain, plunging as economic worries and the strong dollar offset optimism over China demand expectations.U.S. crude dropped 2.25% to settled at $77.07 per barrel, and Brent settled at $80.77 per barrel, down 2.37% on the day.

Dollar Index

Bloomberg’s dollar index was little changed after rallying Tuesday when investors bought the US currency as a haven.

US bond yield

In the bond market, the yield on the 10-year Treasury fell to 3.39% from 3.50% late Monday. It helps set rates for mortgages and other important loans.

-With agency inputs