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Market Review

US: US Stocks moved higher on Friday trimming losses from another down week and S&P 500 got saved from tumbling into bear market territory. Dow rose 1.47%, S&P 500 gained 2.39%, Nasdaq jumped 3.82%.

Asia: Asian share markets struggle to sustain even a minor rally on Monday after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's secondlargest economy.

India:Indian equity benchmarks extended losses to the sixth session in a row on Friday, dragged by financial and metal stocks though FMCG, oil & gas and auto shares limited the downside.

Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy: : Japanese manufacturers are increasingly looking to move offshore operations to their home market, according to a Tokyo Steel Manufacturing Co. executive. The rapidly weakening yen, global supply-chain constraints, geopolitical risks and shifting wages patterns are prompting the switch.

U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May as worries about inflation persisted, but household spending remains underpinned by a strong labor market and massive savings, which should keep the economy expanding. The University of Michigan's survey on Friday showed the deterioration in sentiment, which some economists said pushed it into recessionary territory, was across all demographics, as well as geographical and political affiliation. Gasoline prices and the stock market have a heavy weighting in the survey.

Commodities: Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia. 

Gold prices on Monday rose above the more-than-three-month low level hit in the previous session, as a weaker dollar outweighed pressure from higher U.S. Treasury yields

Currency:The dollar started the week just off a 20-year high against peers on Monday, as investors sought safety due to fears about global growth.

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