Transcription
We welcome International Market Expert Ajay Bagga to the show. Bagga Sir, good morning.
The new statements that have come out, new developments, does it seem like a deal will happen this weekend? Yes, it is very difficult. This is Trump's confusion. Now he is eager to meet Kim Jong Un. He is using good words. But we have to see what the action is. So the action is that Iran has blocked the Gulf. Absolutely, that blockade continues. In the attack on Kuwait's airport, one Indian citizen also died. So, looking at the overall picture, there is no hope of anything happening this week.
What is the market looking at? The market has seen the first phase of rotation out of technology stocks. As Neha Ji was saying, the Dow Jones went up, and money is going into traditional stocks. Some money has moved out of technology. Look at the Asian markets this morning, Korea is down 4%. Its AI players, Samsung, SK Hynix, are down 6% to 8%. The Japanese market is down 2%. So, overall, money is moving out of technology a bit. Now we have to see where it goes.
Today's event will be US employment data. So, the jobs data for May will come out. The private data that came out was very good, it was 122. So, good data is expected here too. But the market will be a bit disturbed by this because then the expectation of rate cuts will not increase, but the expectation of rate hikes will increase. So, overall, do not keep too many hopes on Iran, but there will be no war either. It is clearly indicated that Trump does not have the appetite to escalate the war. So, this will continue slowly and steadily.
I would like to mention that when Obama's deal happened in 2015, it took two years. So, the Iranians will not hurry. They will ensure that Trump is defeated in the elections in November. Progress will happen slowly from here. There will be no quick progress.
We will thank Bagga Sir once again for his analysis, and we will keep meeting you throughout the day. For now, thank you.