IGI Logo

US: The major stock market indexes all closed positive to finish out the trading day, and near the highs of the day. Investors rotated out of health care and staples stocks for more growth plays.

Asia: Hong Kong’s benchmark index popped at open as AsiaPacific markets were mixed after closing the previous week with a big rally, with Japan’s benchmark index dragged lower by tech giant SoftBank Group.

India: Indian equities rose in tandem with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked.

Market is expected to open on a on flattish note up and likely to witness sideways move during the day.

Global Economy: British employers are planning the biggest pay hikes in a decade to fill roles but real-term wages will still grow more slowly than inflation, a survey showed on Monday. The Chartered Institute of Personnel and Development (CIPD) found employers expect to raise their basic pay rates by 4% on average over the coming year, and by as much as 5% in the private sector - the largest since the CIPD's records started in 2012. Hong Kong's economy contracted 4.5% in the third quarter from a year earlier, advance government data showed on Friday, weighed down by rising global interest rates and a slump in trade. It was the third consecutive quarter of year-on-year contraction for the Asian financial hub's gross domestic product (GDP), and marked the worst contraction since the second quarter of 2020. The decline widened from 1.3% in the second quarter. The government also revised down its full-year growth forecast to minus 3.2%, from between 0.5% and minus 0.5%.

Commodities: Gold prices slightly retreated on Monday from a three-month peak hit in the previous session, as the dollar and U.S. bond yields rose after a top U.S. central banker warned that the Federal Reserve is not ‘softening’ fight against inflation yet. Oil prices rose on Monday as markets bet that an eventual scaling back of COVID-19 measures in China will boost the country’s crude demand, while looming curbs on Russian oil shipments also appeared set to tighten supply.

Currency: The U.S. dollar held firm on Monday following last week’s bruising dive as Federal Reserve Governor Christopher Waller said that the central bank was not softening its fight against inflation.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer