Stock Market Today: All You Need To Know Going Into Trade On Dec. 2

Good morning!
The GIFT Nifty is trading marginally down near 26,333 indicating a flat open for the benchmark Nifty 50.
US and European index futures are trading higher during Asian trading hours.
S&P 500 futures up 0.15%
Euro Stoxx 50 futures up 0.09%
India's benchmark equity indices slipped off record highs during the session as profit-booking wiped out early gains. The Nifty closed 0.1% lower, slightly below the 26,200 mark. The BSE Sensex ended flat at 85,641.
During the day, the Nifty climbed 0.46% to hit a lifetime high of 26,325.8, while the Sensex jumped 0.52% to hit a record intraday high of 86,159.02.
On the sectoral front, Nifty Auto, Metal, IT, and PSU Bank indices displayed noticeable strength. In contrast, Nifty Realty, Healthcare, and Pharma remained the key laggards, while other sectors traded with a mixed bias, indicating a lack of broad-based momentum.
Global markets began December on uncertain footing as about $1 billion in leveraged crypto positions were sold off during Monday’s sharp drop, fueling a broad industry decline. Treasuries steadied after falling across the curve on Monday, leaving the US 10-year yield seven basis points higher at around 4.1%, reports Bloomberg.
S&P 500 futures were little changed as of 9:34 a.m. Tokyo time. The euro was little changed at $1.1606
Asian stocks rose slightly at the open, recovering cautiously after Monday’s selloff when cryptocurrencies led global risk assets lower. Early trading on Tuesday saw gains in Japan, Australia, and South Korea. Attention now shifts to the final 10-year Japanese government bond auction of the year, following Monday’s surge in yields due to interest-rate hike speculation.
The yen was little changed against the dollar after rising the most in a week on Monday, when Bank of Japan Governor Kazuo Ueda sent the clearest hint yet that his board might raise rates soon. Hang Seng futures rose 0.6%, Nikkei 225 futures (OSE) rose 0.6% and Japan’s Topix rose 0.3%. The Japanese yen was little changed at 155.59 per dollar and the offshore yuan was little changed at 7.0738 per dollar, reports Bloomberg.
Silver retreated from a record high, with a key technical indicator showing that a six-day rally has taken the white metal into overbought category. Gold also edged down.
Silver traded at around $57.45 an ounce, which was more than a dollar below the all-time peak reached in the previous session. Silver fell 1% to $57.4245 an ounce as of 8:28 a.m. in Singapore. Gold edged down 0.2%, reports Bloomberg.
Oil prices stayed higher as the market awaited US President Donald Trump’s next move on Venezuela and evaluated the impact of damage to a crude export terminal in the Black Sea. Brent was near $63 a barrel after rising 1.3% in the previous session, while West Texas Intermediate traded above $59, reports Bloomberg.
Copper advanced to a record high in London on fears the global market is heading for a supply crunch. The metal rose as much as 1.3% to $11,334 a ton on the London Metal Exchange before trimming gains, surpassing a peak reached on Friday, while futures on the Comex in the US surged as much as 1.7%.
Copper rose 0.6% to settle at $11,252.00 a ton on the LME, following a 2.3% jump on Friday. Comex futures climbed 0.6% to settle at $5.303 a pound. All other metals except tin advanced, reports Bloomberg.