Stock Market LIVE: US Stocks Rebound on Data Cheers; Asia opens higher

Stock exchange updates on December 22, 2023: Benchmark indices look set to start Friday's trading session on an optimistic note, supported by encouraging global cues.

At 7:00 AM, Gift Nifty futures were trading at around 21,415, indicating a likely 100-point differential against the Nifty 50.

Investors will also note the recent monetary policy meeting minutes released today.

Meanwhile, U.S. markets closed higher on Thursday as economic data fueled optimism that the Federal Reserve would ease monetary policy. Nasdaq rose 1.3 percent, the S&P 500 rose 1 percent and the Dow Jones gained 0.9 percent.

US third-quarter GDP figures were not as robust as initially expected but were revised downwards, and cracks appeared to be emerging in the tight labor market, which the Fed sees as an obstacle to cooling inflation . The focus now shifts to the Personal Consumption Expenditure (PCE) report, due later this evening.

Markets in Asia started trading this morning with modest gains. Nikkei, Hang Seng and Kospi rose about 0.2 percent.