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Market Review

US:

Stocks rebounded on Monday as investors grew hopeful that the escalating conflict between Israel and Iran would remain contained, easing concerns over broader geopolitical fallout. The retreat in oil prices also supported market sentiment.

Asia:

Asia-Pacific markets rose Tuesday, as investors hope that the Israel-Iran conflict might remain contained with Tehran reportedly signaling readiness to negotiate.

India:

The Indian market ended higher on Monday, supported by gains in IT and financial stocks, following two days of losses driven by geopolitical tensions between Israel and Iran. Improved global sentiment and a pullback in crude oil prices from last week’s surge helped lift investor confidence. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

The New York Empire State Manufacturing Index, a key gauge of business conditions in New York state, has taken a significant tumble. The actual number sharply contrasts with the forecasted figure of -5.90, underscoring the severity of the downturn. The index’s decline is considerably steeper than anticipated, suggesting that business conditions in New York are deteriorating at a faster pace than analysts had predicted.

Canadian home sales rose 3.6% in May from April and were down 4.3% on an annual basis. The industry group’s Home Price Index was almost unchanged on the month and was down 3.5% annually, while the national average selling price was down 1.8% on the year

Commodities:

Oil prices rose in Asian trade on Tuesday after U.S. President Donald Trump issued a warning against Tehran over the Israel-Iran conflict, keeping concerns over supply disruptions largely in play.

Gold rebounded on Tuesday as heightened geopolitical uncertainty stemming from Israel-Iran fighting and U.S. President Donald Trump's call to evacuate Tehran led investors to seek safe-haven assets.

Currency:

The U.S. dollar slipped slightly lower Monday as traders monitored the ongoing Israel-Iran conflict, at the start of a week that includes a number of central bank policy-setting meetings, including the Federal Reserve.

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