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Market Review

US

U.S. stocks climbed on Friday to clinch weekly gains for the S&P 500 and Dow Jones Industrial Average following a weakerthan-expected jobs report in April

Asia

Stocks rose on Monday amid speculation that interest rates will remain low due to receding inflationary pressure, while oil and gas prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets.

India

Indian benchmark indices ended higher on Friday led by heavyweights. HDFC twins, ITC and Bharti Airtel were the biggest gainers on the Sensex. Sensex ended 256 points higher at around 49,206 and Nifty closed at 14,823, up 98 points. Market is expected to open gap up and likely to witness positive move during the day

Economy:

U.S. employers hired far fewer workers than expected in April, likely frustrated by labor shortages, leaving them scrambling to met booming demand as the economy reopens amid rapidly improving public health and massive financial help from the government.Nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March, the Labor Department said in its closely watched employment report on Friday

Canada lost more jobs than expected in April as fresh restrictions to contain a variant-driven third wave of COVID-19 weighed on employers. Some 207,100 jobs were lost in April, more than the average analyst prediction for a loss of 175,000. The unemployment rate climbed to 8.1%, missing analyst expectations of 7.8%. Employment is now 2.6% below prepandemic levels. China extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high, in a boost to the world's second-largest economy. Exports in dollar terms surged 32.3% from a year earlier to $263.92 billion, China's General Administration of Customs said, beating analysts' forecast of 24.1% and the 30.6% growth reported in March

Commodities:

Crude prices climbed on Monday after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the US, highlighting the fragility of oil infrastructure. Gold prices on Monday hovered close to a near three-month high hit last week after weaker-than-expected U.S. jobs data cemented hopes that interest rates will stay low for some time, pressuring the dollar and boosting bullion's appeal.

Currency:

The dollar languished near a more than two-month low versus major peers on Monday as investors continued to assess the implications for monetary policy of a disappointing U.S. employment report, ahead of inflation data this week.

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