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Market Review

US: Stocks sold off Wednesday, continuing the sluggish start to September, as concerns mounted that the Federal Reserve may not be done hiking interest rates.

Asia: Asia-Pacific markets were mostly lower on Thursday, following a sell off on Wall Street and ahead of trade data from China and Australia.

India: Indian shares closed higher on Wednesday after a late rebound in consumer stocks, led by Tata Consumer Products on a report of its stake purchase in Haldiram's, eclipsed global growth concerns The market is expected to open on a negative note and likely to witness profit booking during the day.

Global Economy: Retail sales in the euro zone declined in July, though only due to reduced automotive fuel purchases, while June registered an increase rather than the decline reported last month.Retail sales volumes in the 20 nations sharing the euro currency fell by 0.2% in July from June and were 1.0% lower year-on-year.

The U.S. services sector unexpectedly accelerated in August, while prices for inputs jumped, in a sign of resilient demand that may contribute to stickier inflation in the world's largest economy.The Institute for Supply Management said on Wednesday that its non-manufacturing purchasing managers' index increased to 54.5 during the month, up from 52.7 in July

Commodities: Gold Price portrays a corrective bounce from one-week low to $1,918 amid the initial hours of Thursday’s Asian session, after declining in the last five consecutive days. In doing so, the bright metal seeks more clues to defend the latest downside despite being bearish amid firmer US Dollar and the United States Treasury bond yields

Oil prices rose slightly in early Asian trade on Thursday, sticking to 10-month peaks as signs of another draw in U.S. inventories added to expectations that global crude supplies will tighten further this year.

Currency: A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept the euro and sterling pinned near three-month lows, as investors placed their faith in a stillresilient U.S. economy even amid a dour global growth outlook.

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