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Market Review US:

US: Global equities climbed to a more than two-year peak and the S&P 500 closed at a record high on Wednesday, as strong earnings offset jitters related to US regional banks and China's markets.

Asia: Markets in Japan, South Korea were trading higher in early trade on Thursday, tracking overnight gains on Wall Street. The Nikkei 225 was trading 284.52 points or 0.79% and the KOSPI index was trading 10.68 points or 0.41% higher at 2,620.26 as of 6:30 a.m.

India: India’s benchmark equity indices ended little changed on Wednesday as traders exercised caution a day ahead of the RBI's monetary policy decision. The NSE Nifty 50 ended 1.10 points, or 0.01%, higher at 21,930.50, while the S&P BSE Sensex closed 34.09 points down, or 0.05%, to 72,152. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global Economy: Chinese consumer price index inflation grew less than expected in January as the new year holiday spurred limited increases in spending, while a sustained contraction in factory gate inflation eased slightly. CPI inflation rose 0.3% month-on-month in January, data from the National Bureau of Statistics showed

The U.S. trade deficit widened slightly in December, but contracted by the most in 14 years in 2023 as imports declined and exports jumped to a record high. The trade gap narrowed 18.7% in 2023, the largest drop since 2009, to $773.4 billion. It represented 2.8% of GDP, down from 3.7% in 2022. Trade added more than half a percentage point to the economy's 2.5% growth last year

Commodities: Gold prices ticked up on Thursday buoyed by a softer dollar and lower Treasury yields, ahead of a weekly jobless claims report that could provide fresh clues on when the U.S. Federal Reserve would start lowering interest rates. Oil prices rose on Thursday after Israel rejected a ceasefire offer from Hamas, as talks continued to try to end the Gaza conflict and wider Middle East tensions that have kept the market on edge since October.

Currency: The US dollar was trading in a tight range on Thursday as traders digested less dovish remarks from policymakers overnight and looked ahead to fresh economic data from the United States. Attention was also on inflation data out of China in the Asian morning amid concerns about deflation in the world's second-largest economy.

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