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Market Review

US: Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13 per cent after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week

Asia: Asian markets displayed mixed performance as investors awaited August’s US inflation data, which could influence future Federal Reserve interest rate decisions.

India: Benchmark indices ended with little change in a highly volatile session on Tuesday despite selling across the sectors, barring Information Technology. 

Market is expected to open flattish note and likely to witness sideways move during the day. 

Global Economy: Japan's annual wholesale inflation slowed in August for the eighth straight month, offering some relief for households and retailers hit by past sharp rises in raw material imports. The CGPI rose 3.2% in August from a year earlier, matching a median market forecast.

Inflation-adjusted income fell and a key poverty measure rose sharply last year as the U.S. economy continued its rocky emergence from a once-in-a-century pandemic, the U.S. Census Bureau reported. The income and poverty data showed how deeply the country's recent economic outcomes were influenced by the COVID-19 health crisis and the government response to it -- with a measure of child poverty more than doubling following the expiry of pandemic-era child tax credits last year, and the worst inflation in 40 years undercutting household spending power. The child poverty rate, based on a supplemental measure that adjusts for government benefits and household expenses, jumped to 12.4% in 2022 from 5.2% in 2021.

Commodities: Gold prices were flat on Wednesday, trading above a more than two-week low hit in the previous session, as investors awaited US inflation data that could shape expectations around the Federal Reserve’s interest rate outlook.

Oil prices rose in Asian trade on Wednesday, sticking close to a 10-month high as the OPEC forecast tighter supplies, although anticipation of key U.S. inflation data and signs of a build in inventories kept gains limited.

Currency: The U.S. dollar recovered some of its recent losses on the yen after comments from Japan's top central banker on a possible early exit from its negative interest rate policy sent the yen soaring.

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