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Market Review

US: The Dow Jones Industrial Average declined for a sixth consecutive session Thursday, extending a streak of volatility in a market driven by worries that the Federal Reserve will hamper growth in its effort to bring inflation under control.

Asia: Shares in Asia-Pacific edged higher in Friday morning trade, continuing a rollercoaster week as investors assess the inflation and the global economic outlook.

India:Inflationary and interest rate hike headwinds, that have emerged as a fallout of the Ukraine-Russia war and easy monetary policy, are biting into equity returns. As a result, bear-run on the bourses entered its fifth straight day on the weekly F&O expiry day, with the benchmark indices sliding over 2 % each. 

Market is expected to open gap up and likely to witness bounce back during the day

Global Economy: : U.S. PPI showed signs of peaking in April but remained in double digits, as the surge in energy prices in the wake of Russia's invasion of Ukraine weakened a little. The annual rate of factory gate inflation fell to 11.0% from 11.5%, as the monthly rise in prices slowed to 0.5% from 1.6% in March. The softening was due largely to energy prices, which had risen at 7.2% and 6.4% in the previous two months. That slowed to a rise of only 1.7% in April as crude prices eased somewhat after the initial shock of Russia's invasion

Services activity in Brazil rose more than expected in March and at a record pace for the month, marking a strong recovery from the severe downturn caused by the COVID pandemic. Services activity increased 1.7% in March from February, more than double the 0.7% growth expected by economists, reaching its highest level since May 2015.

Commodities: Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China's COVID lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia.

Gold prices on Friday were held near a three-month low as the strongest dollar in two decades continued to sap demand for greenback-priced bullion, setting up what could be the metal's fourth consecutive weekly fall.

Currency:The yen held most of its overnight gains on Friday, after falling U.S. yields and market jitters propped up the Japanese currency while another Wall Street selloff drove flight-so-safety bid to dollar, which remains near 20-year high peaks

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