Market is expected to open on a negative note and likely to witness negative move during the day - Nirmal Bang Ltd
Market Review
US:
US stocks rose on Wednesday as investors reviewed a fresh round of corporate earnings following a recent losing streak on Wall Street and the jump in Apple after a White House official confirmed to that the iPhone maker is going to boost its investment in domestic manufacturing by $100 billion.
Asia:
Asia-Pacific markets rose following U.S. President Donald Trump’s vow to impose a 100% tariff on imports of semiconductors and chips, but companies that are "building in the United States" will be exempted.
India:
Indian benchmark indices ended lower on second consecutive session on August 6 amid volatility after RBI delivered on expected line, keeping key interest rates unchanged with 'neutral' stance. Market is expected to open on a negative note and likely to witness negative move during the day.
Global economy:
Russia’s national wealth fund saw its liquid assets decline to $48.3 billion as of August 1, representing 1.8% of projected gross domestic product, the Finance Ministry announced Wednesday. This marks a decrease from the previous month when liquid assets stood at $52.6 billion, or 1.9% of GDP.
Portugal’s unemployment rate decreased to 5.9% in the second quarter of 2025, down from 6.6% in the first quarter, according to data released Wednesday by the National Statistics Institute. The latest figure also shows improvement compared to the 6.1% unemployment rate recorded in the same period last year.
Commodities:
Oil prices experienced a slight rebound on Thursday, halting a five-day decline, fueled by indications of consistent demand in the U.S. market.
Gold prices saw a slight increase due to a weaker dollar, fueled by growing expectations of a Federal Reserve rate cut in the coming month. Investors are closely watching President Trump's upcoming nominations to the Fed's Board of Governors. Meanwhile, Trump imposed additional tariffs on goods from India, citing the country's import of Russian oil.
Currency:
The dollar remained rangebound as investors awaited President Trump's Federal Reserve Board nominee. U.S. services sector activity flatlined in July, highlighting the impact of tariffs. Despite this, the dollar's movements were muted, with traders hesitant to take positions before the Fed announcement.
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