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Market Review

US:

The Dow Jones Industrial Average traded higher in today's stock market as the blue chip index led the major indexes on the upside.

Asia:

Stocks in Asia-Pacific rose in Thursday trade after the Dow Jones Industrial Average surged to a record closing high overnight.

India:

NSE abruptly shut its cash and derivatives segment yesterday, following a glitch which froze stock prices, triggering panic among investors. Trading was halted at 11:40 am on the NSE and resumed only at 3:30 pm. The glitch, which came a day ahead of the monthly F&O expiry for the February series, caused massive volatility during the last hour of trade and the same may continue on Thursday as well. Sensex ended 1,030 points, or 2% higher. Market is expected to open gap up and likely to witness positive move during the day.

Economy:

U.S. consumer confidence increased in February, with households slightly more upbeat about the labor market amid declining new COVID-19 infections and expectations for additional money from the government to help the economy's recovery from the pandemic. Consumer confidence index rose to a reading of 91.3 this month from 88.9 in January. Confidence remains well below its lofty reading of 132.6 last February. With additional fiscal relief coming and better progress on the vaccination front, sentiment should rise further. Strong exports and solid construction activity helped the German economy to grow by a better-than-expected 0.3% in the final quarter of last year, but stricter lockdown measures at home and abroad are clouding the outlook for Europe's largest economy. Adjusted for calendar effects, the German economy shrank by 5.3% last year, a much smaller contraction than in many other European countries, helped by a strong fiscal response to the damage caused by the COVID-19 pandemic.

Commodities:

Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback in demand. Gold prices edged lower on Thursday as higher U.S. Treasury yields dented the metal’s appeal, although losses were limited by a weaker dollar and Federal Reserve Chairman Jerome Powell’s dovish comments.

Currency:

The safe-haven U.S. dollar languished near three-year lows versus riskier currencies on Thursday as continued dovish signals from the Federal Reserve stoked reflation bets.

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