Watching a turning tide: 10 things driving markets today

US stocks rose on Tuesday, with the S&P 500 index advancing for its longest stretch since early July, as an alternative proposal emerged that could avert a possible Western military strike on Syria. (Reuters)

Asian stocks rose on Wednesday, on track to post their 10th straight day of gains, while investors gave the safe-haven yen a wide berth as optimism for the Chinese economy grew and worries about US military strikes on Syria receded.(Reuters)

The yen was soft while the euro and risk currencies held firm on Wednesday on hopes a US military strike against Syria may be averted, as well as signs of strength in the Chinese economy.(Reuters)

Oil stayed under pressure with Brent crude languishing near a 2-1/2-week trough of $110.59. It last traded at $111.30, having shed 4 percent in the past two sessions, its largest two-day drop since June.(Reuters)

Gold climbed on Wednesday as investors looked for bargains, but it stayed near its lowest level in almost three weeks as hopes that a US military strike against Syria could be averted sapped its safe-haven appeal.(Reuters)

Stocks in news

SKS Microfinance, after news that the company board has rejected SKS Trusts’ proposal to induct Vikarma Akula.

Tata Motors, after the stock rose to a record high on news that its arm has reported a record sales in August.

India Cements, after news that CBI has charge sheeted MD N Srinivasan in the YS Jaganmohan Reddy case.

Wockhardt, as the stock is likely to continue its rise on patent case settlement.

Economy news

India’s trade deficit narrowed to $10.9 billion in August, helped by a double digit rise in merchandise exports, provisional government data showed on Tuesday, offering some respite for the troubled rupee currency. (Reuters)