Rise With Profit: US Fed Decision, Finance Minister On India GDP, Ola’s Quick Commerce Foray #IndiaFinance

This is the daily morning update from NDTV Profit. Here’s everything you need to know at the start of your day.

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There’s caution across the board in global markets ahead of the outcome of the meeting of the Federal Open Market Committee—there’s wide expectation of another 25-basis-point cut to end the year. Ahead of that event, US stocks dropped, with the Dow Jones Industrial Average losing ground for a ninth straight session.

Meanwhile, the latest economic data from the US pointed to continued resilience. Retail sales increased more than expected in November as households stepped up purchases of motor vehicles and online merchandise, consistent with strong underlying momentum in the economy as the year winds down. That’s based on a Reuters report. This has no bearing on the expectations of a rate cut by the Fed.

In the Asia Pacific region, Japanese markets are reacting to the latest trade data there. The country’s exports grew 3.8% in November year-on-year, beating expectations of a 2.8% increase by economists polled by Reuters. Meanwhile, imports fell by 3.8%, coming in far below expectations of a 1% expansion. The trade deficit, as a result, came in at 117.6 billion yen, much below consensus estimates. The lower imports point to weaker demand.

Last I checked, the Nikkei 225 was lower by a third of a percent, while the other two early risers in the Asia Pacific region were trading higher.