SGX Nifty to US stocks rally: Check out key global cues for Indian stock market

Asian markets traded higher on Wednesday following a rally in US stocks that was fueled upbeat economic data. Investors will keep an eye on the release of figures for Chinese industrial profits and Australian inflation data. In the US, reports showed new orders for key US-manufactured capital goods unexpectedly rose in May, and sales of new single-family homes surged in the same month. Moreover, US consumer confidence increased to a near 1-1/2 year high in June. This week, more economic data is expected including key inflation data, as well as Federal Reserve chair Jerome Powell’s speech at the European Central…