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Market Review

US: US stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on Wall Street

Asia: : Markets in Asia-Pacific were subdued in Tuesday trading, as investors weighed a possible thawing of U.S.-China trade relations as U.S. President Joe Biden floated the idea of tariff cuts on Chinese goods

India:Equity markets turned sharply lower in the fag-end of the session, erasing gains and ending flat with a negative bias on Monday amid selling in index heavyweights like Tata Steel, HDFC twins, RIL, and ITC

Market is expected to a flattish note and likely to witness sideways move during the day

Global Economy: : U.S. Treasury yields rose on Monday as concerns about inflation and economic growth remained in focus for investors. The yield on the benchmark 10-year Treasury note climbed 7 basis points to 2.866%. The yield on the 30-year Treasury bond moved 7 basis points higher to 3.072%. Treasury yields moved lower throughout last week, as investors looked to find a safe haven in government bonds, amid heavy selling in stock markets.

Singapore's key consumer price gauge rose in April at its fastest pace in a decade, driven by higher inflation for food. The core inflation rate rose to 3.3% in April on a year-on-year basis, the highest since February 2012. Headline inflation rose to 5.4%, the fastest since April 2012. Singapore's central bank tightened its monetary policy last month, making a double barrel move, as the city-state ramped up its battle against soaring prices made worse by the Ukraine war and global supply snags

Commodities: Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing's promises of stimulus

Gold steadied on Tuesday as the U.S. dollar stabilized after a slide in the previous session that drove greenback-priced bullion to its highest level in two weeks

Currency:The safe-haven dollar clawed back some of its overnight losses on Tuesday and the yen also strengthened as U.S. stock futures sank following a profit warning from Snapchat, souring the mood after Wall Street's strong start to the week.

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