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Market Review:

US

U.S. stocks were mixed after the close on Wednesday, as gains in the Consumer Goods, Oil & Gas and Financials sectors led shares higher while losses in the Utilities, Basic Materials and Telecoms sectors led shares lower.

Asia:

Asian stocks opened mostly steady Thursday after U.S. shares moved in narrow ranges as traders digested commentary from Federal Reserve officials on the outlook for stimulus.

India:

The stock markets today ended the day in the red as both the BSE Sensex and the broader market NSE Nifty 50 fell by over 0.5 per cent. While the Sensex ended at 52,306.08 on Wednesday, going down by almost 282 points, the Nifty 50 ended at 15,686.95, down by over 85 points. Market is expected to open on a flattish note and likely to witness sideways move during the day

Economy: 

A measure of U.S. factory activity climbed to a record high in June, but manufacturers are still struggling to secure raw materials and qualified workers, substantially raising prices for both businesses and consumers. U.S. manufacturing PMI rose to a reading of 62.6 this month. That was the highest since the survey was expanded to cover all manufacturing industries in October 2009 and followed a final reading of 62.1 in May. Canadian retail sales plunged in April and May, as shops and other businesses were shuttered amid a third wave of COVID19 infections. Retail trade fell 5.7% in April, the sharpest decline in a year, missing analyst forecasts of a 5.0% drop Euro zone business growth accelerated at its fastest pace in 15 years in June as the easing of lockdown measures unleashed pent-up demand and drove a boom in the dominant services sector but also led to soaring price pressures, a survey found. PMI seen as a good guide to economic health, to 59.2 from 57.1, its highest reading since June 2006

Commodities:

Oil prices climbed on Thursday after a sharp drawdown in U.S. crude and gasoline stocks reinforced optimism of a quick recovery in fuel demand and on doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports. Gold prices edged lower on Thursday as a stronger dollar dented the metal’s appeal, while investors awaited more U.S. economic data due this week to gauge inflationary pressures.

Currency:

The U.S. dollar vacillated below an 11-week high versus major peers on Thursday as traders attempted to navigate conflicting signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus.

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