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Market Review

US:

US stocks rose across the board on Thursday as Wall Street weighed signs of a resilient economy and the move by Federal Reserve governor Lisa Cook to sue President Trump, while the dust settled on Nvidia's earnings

Asia:

Asia-Pacific markets traded mixed on Friday, breaking ranks from Wall Street gains as investors also assess a slate of economic data in the region.

India:

Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments. Market is expected to open on a flattish note and likely to witness range bound move during the day

Global economy:

U.S. economy grew at a pace that was faster than expected in the second quarter as consumers and businesses held up against tariff volatility. GDP rose at a 3.3% annualized pace in the April-through-June period, the Commerce Department reported Thursday in its second estimate for the most encompassing measure of economic activity. The reading was better than an initial 3.0% estimate as well as the 3.1% Dow Jones consensus forecast.

Japan’s factory output slumped in July as U.S. tariffs bite and a leading indicator of nationwide inflation slowed, data showed on Friday, complicating the central bank’s decision on the next rate-hike timing. While Japan’s jobless rate hit a multi-year low in July due to a tight job market, retail sales rose much less than expected in a sign rising living costs were weighing on consumption. Signs of persistent inflationary pressure and downside risks to growth highlight the challenge the Bank of Japan faces in determining how soon to resume interest rate hikes.

Commodities:

Oil prices slipped in Asian trading on Friday after rallying the previous session, as markets grappled with dimming prospects of a Russia-Ukraine peace deal and evaluated the impact of additional U.S. tariffs on India.

Gold is headed for a consecutive weekly gain that’s pushed it closer to a record high, as investors braced for an inflation reading that may prove key to US monetary easing this year.

Currency:

The U.S. dollar slipped marginally lower on the defensive as expectations of an interest rate cut by the Federal Reserve next month grew.

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