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Market Review

US: US stocks pulled back as investors waited for FED Chair's speech and Nvidia's quarterly report. Dow fell 0.51% after sporting goods makers results and raised questions about strength of consumer spending, S&P lost 0.25% and Nasdaq closed just above the flat line as names like Tesla, Alphabet and MSFT supported the index.

Asia: Asia-Pacific markets are mixed on Wednesday as investors assess private business activity surveys from Australia and Japan, as well as inflation figures from Singapore.

India: The Indian markets ended the day absolutely flat amidst volatility, Media, Metal and select FMCG names gained some ground but on the flip side PSU banks and RIL continued to drag the indices lower. At close Sensex and Nifty crossed the finish line with marginal gains. Market is expected to open on a flattish note and likely to remain range bound during the day

Global Economy: Japan's factory activity shrank for a third straight month in August amid higher oil prices and uncertainty over the global economic outlook, although the pace of decline slowed, a private sector survey showed on Wednesday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) edged up to a seasonally adjusted 49.7 in August from 49.6 in July. The index remained below the 50.0 index point threshold, which separates contraction from expansion. Pay deals awarded by British employers cooled for the first time this year in the quarter to July, which may calm the worries of Bank of England officials who fear wage growth is feeding inflation, a survey showed on Wednesday. Median basic pay deals in the three months to the end of July fell to 5.7% following six consecutive quarters at a record 6%, human resources publication and data provider XpertHR said. Pay awards remained below the rate of inflation. British consumer price inflation cooled to 6.8% in July from 7.9% in June.

Commodities: Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand.

Currency: The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention

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