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Market Review

US:

Stocks ended mostly lower on Wall Street Wednesday as losses by technology and industrial companies offset gains in other parts of the market.

Asia:

Asian markets pointed to a mixed open on Wednesday, as investors juggle the prospects for an economic comeback and additional stimulus with continued pandemic concerns

India:

The Indian indices ended over half a percent lower on Wednesday mainly dragged by the financial and IT stocks. Meanwhile, losses in FMCG and pharma sectors also weighed on the sentiment. However, Nifty PSU Bank rallied during the day, up nearly 6 % on privatisation buzz.. Market is expected to open flattish note likely to witness sideways move during the day.

Economy:

European car registrations dropped in January, as measures to restrict a second coronavirus wave hit sales in the region's largest markets.New car registrations dropped by 25.7% yoy to 842,835 vehicles in the European Union, Britain and the countries of the European Free Trade Association U.S. retail sales rebounded sharply in January after households received additional pandemic relief money from the government, suggesting a pick-up in economic activity after being restrained by a fresh wave of COVID-19 infections late last year.Retail sales surged by a seasonally adjusted 5.3% last month after decreasing 1.0% in Dec. Output at U.S. factories increased more than expected in January even as a shortage of semiconductors weighed on the production of motor vehicles, pointing to resilience in the manufacturing sector recovery. Manufacturing production rose 1.0% last month after gaining 0.9% in December. That was the ninth straight monthly advance in factory production

Commodities:

Oil prices rose as much as a dollar on Thursday, extending this week's gains and hitting 13-month highs, as a cold snap sweeping Texas and surrounding regions shut at least a fifth of U.S. refining output and a million barrels of crude production. Gold held near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset.

Currency:

The dollar was up on Thursday morning in Asia following its first back-to-back gains in two weeks overnight. Positive U.S. data that continued to raise hopes that the country will see a faster economic recovery from COVID-19 than its global peers.

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