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Market Review

US:

U.S. stocks were higher after the close on Friday, as gains in the Healthcare, Industrials and Consumer Services sectors led shares higher.

Asia:

Asian shares started cautiously on Monday as investors wait to see if U.S. earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for U.S. inflation and retail sales this week.

India:

Benchmark Indian equity indices closed marginally lower on Friday, as states-imposed curbs to combat covid-19. The Sensex ended the day at49,591.32, down 154.89 points, or 0.31%, while Nifty was at 14,834.85, down38.95 points, or 0.26%. Market is expected to gap down and likely to witness negative move during the day

Economy:

Japanese wholesale prices marked their first annual increase in more than a year in March, data showed on Monday, a sign that rising commodities costs are pinching corporate margins, adding inflationary pressure to the world's third-largest economy.

Analysts, however, expect such pressures to remain more modest in Japan than in the United States, as slow rollouts of vaccines to combat the coronavirus pandemic are seen weighing on Japanese domestic consumption. Confidence among big businesses in Britain about their profits in the year ahead has hit a record high, helped by the country's coronavirus vaccinations and hopes for less Brexit disruption.

After the biggest hit to Britain's economy in more than three centuries last year, accountancy firm Deloitte said its poll found CFOs were planning to increase hiring and investment. U.S. producer prices increased more than expected in March, resulting in the largest annual gain in 9-1/2 years and likely marking the start of higher inflation as the economy reopens amid an improved public health environment and massive government aid.

The report showed solid gains in underlying producer prices last month. That aligned with business surveys showing rising cost pressures as strengthening domestic demand pushes against supply constraints.

Commodities:

Oil was steady near $59 a barrel as trading opened in Asia after Federal Reserve Chair Jerome Powell said the U.S. economy was poised for stronger growth, while cautioning that Covid-19 still remains a threat. Gold prices fell on Monday as data showing very strong readings for U.S. inflation and a faster economic rebound bolstered Treasury yields, weighing on the safe-haven metal.

Currency:

The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the U.S. currency.

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