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Market Review:

US

U.S. stocks rose to records Monday as investors looked ahead to the corporate earnings season that kicks off this week.

Asia:

Asia Pacific stocks were up on Tuesday morning ahead of trade data from China that could offer clues to the country’s recovery from COVID-19. Also on investors’ radars are U.S. inflation data and second-quarter earnings

India:

The Sensex closed at 52,372.69, down 13.50 points, or 0.03%, while the Nifty was at 15,692.60, up 2.80 points, or 0.02%. IT, metals were top drags. Realty, banks were in green. Market is expected to open gap up and likely to witness positive move during the day

Economy:

British retailers reported a record annual increase in sales in the three months to the end of June, although growth was flattered by widespread store closures a year earlier due to the coronavirus pandemic.The British Retail Consortium - members of which tend to be large high-street chains and supermarkets - said on Tuesday that sales in the second quarter of 2021 were 28.4% higher than a year earlier and 10.4% higher than two years before.The year-on-year increase was the largest since the BRC's records began in 1995. A measure of Australian business conditions fell from record highs in June as coronavirus lockdowns in New South Wales and Victoria curbed sales and undermined confidence, though activity was still solid in historical terms. National Australia Bank's index of business conditions dropped 12 points to +24 in June, after climbing 5 points in a very strong May survey.

Commodities:

Oil rose on Tuesday, recovering from the previous day's drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery. Gold prices steadied on Tuesday after hitting a one-week low in the previous session, as the dollar weakened slightly ahead of U.S. inflation data that could offer clues about the likely timing of policy tightening by the Federal Reserve.

Currency:

The dollar found support on Tuesday ahead of U.S. inflation data, with investors on edge over whether the figures may offer clues about the likely timing of tapering and interest rate hikes.

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