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Market Review

US:

U.S. stocks rallied to record levels on Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery

Asia:

Asian shares edged up on Monday as risk assets basked in the glow of the upbeat October payrolls report, though caution was warranted ahead of a reading on U.S. inflation that could spook the rate horses.

India:

In the special one-hour Muhurat trading session to mark the beginning of Hindu Samvat year 2078, domestic equity benchmarks Sensex and Nifty on Thursday finished on a strong note. Positive global cues and slashing of excise duty on petrol and diesel lifted the sentiment. On Thursday, Sensex climbed 295.70 points to 60,067.62, reversing its two-session sliding streak. The broader NSE Nifty had advanced 87.60 points, or 0.49 per cent, to finish at 17,916.80. Market is expected to open gap up and likely to witness positive move during the day.

Global Economy:

China's export growth slowed in October but beat forecasts, helped by booming global demand ahead of winter holiday seasons, an easing power crunch and an improvement in supply chains that had been badly disrupted by the coronavirus pandemic. However, imports missed analysts' expectations, likely pointing to the overall weakness in domestic demand. U.S. employment increased more than expected in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter. The nonfarm payrolls increased by 531,000 jobs last month. Data for September was revised higher to show 312,000 jobs created instead of the previously reported 194,000. Economists had forecast payrolls rising by 450,000 jobs.

Commodities:

Oil prices rose on Monday after Saudi Arabia's state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Gold prices extended a rally to hit a two-month high on Monday as a retreating dollar bolstered the precious metal’s appeal.

Currency:

The dollar made a steady start to the week on Monday but was kept below Friday peaks, as currency traders seek a path between markets' volatile interest rate projections and central bankers vowing to keep rates low even as inflation surges.

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