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Market Review

US:

US stocks reached a fresh record in a after data showed job growth exceeded expectations, boosting investors’ confidence in the health of the economy even as it doused expectations for a July Fed Reserve int-rate cut

Asia:

Asian shares traded in a tight range Friday as renewed trade tensions ahead of next week’s deadline for higher levies outweighed a record-extending rally in US stocks.

India:

The Indian benchmark equity indices erased the intraday gains to close lower for the second consecutive day on Thursday. Market is expected to open on a flattish note and likely to witness a range bound move during the day.

Global Economy:

Japanese household spending surged at the fastest pace in nearly three years in May, offering some hopes that tepid consumption might be turning a corner even as risks from U.S. tariffs remain a drag on confidence and economic growth.Consumer spending in the world’s fourth-largest economy in May rose 4.7% from a year earliers, better than the median market forecast for a 1.2% gain and rising at the fastest pace since the 5.1% increase in August 2022

German car exports to the United States fell sharply in April and May as import tariffs imposed by President Donald Trump hit German automakers’ sales in their most important foreign market.Auto exports to the U.S. fell by 13% in April and 25% in May from the same months the previous year.

Commodities: :

Oil prices were little changed on Friday as a solid job market bolstered the case for the U.S. Federal Reserve keeping interest rates on hold, with investors also awaiting clarity on President Donald Trump's plans for tariffs on various countries

Gold held steady on Friday, poised for a weekly gain as U.S. President Donald Trump's tax-cut and spending bill passed in Congress, raising fiscal concerns,though stronger-than-expected U.S. jobs data capped bullion's gains.

Currency:

The dollar held gains on Friday after President Donald Trump got his signature tax cut bill across the final hurdle and pressure mounted on countries to secure trade deals with the United States.

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