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Market Review

US: : Stocks ended solidly lower on Thursday, with shares of Tesla falling after its results and Treasury yields surging

Asia: Markets were all lower Friday, extending losses from Thursday’s broad sell-off. This comes as US Federal Reserve Chair Jerome Powell said inflation was still too high and would likely require lower economic growth.

India: Benchmark indices remained under pressure for the second session in a row, tracking weak global cues amid raging crisis in the Middle East and the ongoing earnings season. Market is expected to open gap down and likely to witness selling pressure during the day 

Global Economy: Japanese consumer inflation grew slightly more than expected in September as food prices remained elevated; it grew 2.8% YoY in September,but lower than the prior month’s reading of 3.1%.

Despite the expectations of increasing layoffs due to high US interest rates, American unemployment benefit applications have significantly dropped to a nine-month low of 198,000 last week. The new jobless claims fell from a revised 211,000 of the previous week, marking the first time they dipped below the 200,000 mark since mid-January.

Commodities: Gold prices hit a three-month peak on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve may be done with rate hikes. Oil prices extended gains on Friday, rising about 1 per cent on fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions.

Currency: The dollar was within a hair's breadth of the closely watched 150 yen level on Friday, buoyed by a surge in the US 10-year Treasury yield which in the previous session briefly reached 5 per cent for the first time since 2007.

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