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Market Review

US:

US markets ended modestly higher after mixed set of retailers' earnings and economic data led to some volatility in stocks. Dow closed just above the flat line, S&P added 0.23% and Nasdaq added 0.2% at the close.

Asia:

Shares in Asia fell on Friday amid mixed US Federal Reserve policy signals on the likely pace of interest-rate hikes, while the dollar climbed as the spotlight fell again on geopolitical tension

India:

Indian stocks closed just above the flat line after spending most part of the day in red. Banking, Cap goods and Consumer names gained at the expense of IT, Autos and Healthcare stocks

Market is expected to open on a flattish note and likely to witness some profit booking during the day.

Global Economy:

Japan's core consumer inflation accelerated in July to its fastest in seven-and-a-half years, driven by fuel and raw material prices and adding to the costs of living for households yet to see significant wage gains. In a sign of broadening price pressure, the so-called "core core" index that strips away not just the impact of volatile fresh food but energy prices, also rose in July at the fastest annual pace in more than six years.British households are feeling "a sense of exasperation" about the surging cost of living which has pushed consumer sentiment to its lowest since at least 1974, according to the country's longest-running survey of household finances. The GfK consumer sentiment index sank to a record-low -44 in August from July's reading of -41, which was already the lowest since the survey began. Economists polled by Reuters had forecast a drop to -42.

Commodities:

Oil prices edged higher in early trade on Friday, extending a rally into a third day, as investors weighed hopes for strong fuel demand after a larger-than-expected drawdown in U.S. crude stocks, brushing off worries about a global economic slowdown.

Gold prices slipped to a three-week low on Friday and were set for their first weekly drop in five, as a stronger dollar and prospects of more rate hikes by the U.S. Federal Reserve dented bullion's appeal.

Currency:

The U.S. dollar climbed to a fresh one-month high against a basket of major peers on Friday as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week.

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