Market is expected to open on a flattish note and likely to witness a range bound move during the day - Nirmal Bang Ltd
Market Review
US:
US stocks eked out gains on Monday near fresh all-time highs, as President Donald Trump’s latest salvo of tariff threats for Europe and Mexico kept investors on edge as corporate earnings season kicks off this week.
Asia:
Asian equities followed the US in posting a modest gain as traders brushed off Trump’s latest tariff threats as bargaining tactics that are unlikely to derail global trade.
India:
India's benchmark equity indices extended losses to a fourth session following a decline in Asian shares and US index futures. Market is expected to open on a flattish note and likely to witness a range bound move during the day.
Global economy:
China’s economy is likely to have cooled in the second quarter after a solid start to the year, as trade tensions and a prolonged property downturn drag on demand, raising pressure on policymakers to roll out additional stimulus to underpin growth. The world’s No. 2 economy has so far avoided a sharp slowdown in part due to a fragile U.S.-China trade truce and policy support, but markets are bracing for a weaker second half as exports lose momentum, prices continue to fall, and consumer confidence remains low.
A U.S. appeals court has blocked for now a bid by Donald Trump’s administration to strip temporary protected status from thousands of Afghans in the U.S. court documents showed, allowing them more time to argue the case. Monday’s order by the U.S. Court of Appeals for the Fourth Circuit granted an administrative stay on the termination until July 21, following a request from immigration advocacy organization CASA. The group’s lawsuit against the U.S. Department of Homeland Security challenged the termination of temporary protected status for Afghans and Cameroonians unveiled by the administration in April.
Commodities:
Oil prices dipped as investors assessed Trump's ultimatum to Russia regarding the Ukraine war and potential sanctions on oil buyers.
Gold inched higher on Tuesday as traders awaited the release of U.S. inflation data later in the day that could shed more light on the Federal Reserve's interest rate path.
Currency:
The dollar hovered near a three-week high versus major peers on Tuesday as traders awaited the release of U.S. inflation data later in the day that could provide clues on the path for monetary policy.
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