US: The S&P 500 ended slightly down on Thursday, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.
Asia: Asia Pacific stocks were mixed on Friday morning, with investors weighing the impact of China’s latest regulatory tightening alongside the prospect of reduced U.S. Federal Reserve stimulus.
India: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing highs on Thursday, a day of weekly F&O expiry. BSE Sensex jumped 418 points to end above 59,100 mark for the first time at 59,141. Nifty 50 index ended at 17,629.50, rising 110.5 points or 0.63 %. Market is expected to open on a flattish note and likely to witness sideways move during the day.
Economy: U.S. retail sales unexpectedly increased in August, likely boosted by back-to-school shopping and child tax credit payments from the government, which could temper expectations for a sharp slowdown in economic growth in the third quarter. Retail sales rose 0.7% last month. Data for July was revised down to show retail sales declining 1.8% instead of 1.1% as previously reported.
U.S. business inventory accumulation slowed in July as motor vehicle retailers struggled to restock amid an ongoing global semiconductor shortage, which is forcing automobile manufacturers to scale back production.Business inventories rose 0.5% after increasing 0.9% in June. Spain is likely to add more than 80,000 jobs in September as the economy recovers from the restrictions imposed during the COVID-19 pandemic
Commodities: Oil prices barely moved on Friday even as more supply came back online in the U.S. Gulf of Mexico following two hurricanes, with benchmark contracts on track to post weekly gains of around 4% as the output recovery is seen lagging demand. Gold prices were set for a second weekly loss as a firmer dollar dented the metal’s allure for holders of other currencies while investors await a key U.S. Federal Reserve meeting for clues on how soon the central bank will start to taper stimulus.
Currency: The dollar held near three-week highs against a basket of major currencies on Friday after a raft of strong U.S. economic data rekindled expectations for earlier policy tightening by the U.S. Federal Reserve.
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