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Market Review

US:

Wall Street ended lower on Monday, as investors digested recent quarterly results from Facebook owner Meta Platforms and other megacaps, while Peloton jumped following reports of interest from potential buyers, including Amazon.

Asia:

Shares in Asia-Pacific were mixed in Tuesday trade, as investors in the region continue to assess the inflation and central bank policy outlook

 India:

A poor day for equities ended with three of every five stocks settling lower amid concerns over rising inflation, a likely policy tightening and persistent foreign outflows.Sensex plunges 1,023 points, Nifty ends near 17,200; PSU banks gain.Market is expected to open on a negative note and to witness selling pressure during the day

Economy:

German industrial production dipped in December, as supply chain bottlenecks and a drop in construction hampered Europe's largest economy at the end of last year.The Federal Statistics Office said the country's industrial output fell by 0.3% on the month after an upwardly revised increase of 0.3% in November. British house prices in January rose at their slowest monthly pace since June last year as a post-lockdown boom in the housing market started to fade and a growing cost-of-living squeeze is likely to add a further brake, mortgage lender Halifax said.House prices in January rose by 0.3% from December China’s services activity saw its slowest pace of growth in five months in January. Increasing numbers of local COVID-19 cases and the ensuing containment measures hit both new business and consumer sentiment, while employment also fell. Caixin services PMI was 51.4, the lowest since August 2021.

Commodities:

Oil prices eased on Tuesday morning ahead of the resumption of indirect talks between the US and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies. Gold prices were steady on Tuesday as inflationary pressures kept the safe-haven metal supported near previous session's one-week high, while market participants awaited U.S. inflation data that is crucial for the Federal Reserve's tapering timeline.

Currency

A resurgent euro was hunkered just short of strong resistance levels as traders awaited U.S. inflation data due later in the week, wary it could trigger gains in the dollar.

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