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Market Review

US:

Stocks climbed as investors looked to end a strong month on a high note, pushing major indexes to fresh records.

Asia:

Asia-Pacific markets traded mixed Tuesday as investors assessed the record gains on Wall Street and the global impact of U.S. President Trump’s tariff policies as his 90-day tariff reprieve is set to expire next week.

India:

Markets ended lower on Monday, breaking a four-session winning streak, as selling in heavyweight stocks weighed on market sentiment. Market is expected to open on a flattish note and likely to witness a sideways move during the day.

Global Economy:

India’s fiscal deficit for April-May reached 131.6 bn rupees ($1.5 bn), representing 0.8% of the estimated target for FY25. The country’s net tax receipts stood at 3.5 tn rupees, up from 3.2 tn rupees during the same period last year. Non-tax revenue showed significant growth, reaching 3.6 tn rupees compared to 2.5 tn rupees a year ago.

India’s industrial output grew 1.2% year-on-year in May, its slowest pace since Aug 2024, government data showed on Monday. Industrial output grew 2.7% year-on-year in April. The early onset of the monsoon weighed on the mining activity and the demand for electricity, with both these sub-sectors of the IIP reporting a contraction in May 2025 amid an anemic manufacturing growth.

The 10-year Treasury yield moved lower as investors monitored whether the Senate would pass President Trump’s divisive spending bill over the next few hours. The benchmark yield fell more than 4 basis points to 4.238%, and the 30-year yield was more than 5 basis points lower at 4.787%. The 2-year yield, meanwhile, traded down less than 2 basis points to 3.725%.

Commodities:

Oil prices fell to a three-week low on Tuesday, hitting levels seen prior to the recent Israel-Iran conflict amid pressure from easing supply concerns and expectations of an OPEC+ production hike.

Gold rose on Tuesday, supported by a weaker dollar and heightened uncertainty over U.S. President Donald Trump's tariff policies ahead of the July 9 deadline, driving investors toward safe-haven assets.

Currency:

The U.S. dollar languished at its weakest against the euro since Sep 2021 on Tuesday, as President Trump's spending bill stoked fiscal worries and uncertainty around trade deals continued to weigh on sentiment.

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