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Market Review 

US:

U.S. stocks advanced on Wednesday in choppy trading, buoyed as semiconductor stocks rallied late on a report that regulations on artificial intelligence chips would be loosened.

Asia:

Asian stocks traded in a tight range at the open after the Federal Reserve reiterated it isn’t in a rush to lower interest rates, and investors awaited the trade negotiations between China and the US before taking risky bets.

India:

India's stock markets remained largely unaffected following the military strikes on terrorist camps across the border in Pakistan. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

The latest economic data shows a significant surge in Consumer Credit, a key indicator of consumer spending and confidence. The actual figure stands at 10.17B, exceeding the forecasted value of 9.80B. This rise in Consumer Credit is not only a positive signal for the US Dollar (USD), but also indicates a potential uptick in consumer spending, a major driver of the US economy.

Trump will announce a trade deal with a major country on Thursday, with a report from the New York Times stating that the country was likely the UK. “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!,” Trump said in a post on Truth.Social.

Trump announced that the U.S. might soon ease microchip export restrictions to some Gulf countries, with an announcement expected soon. This comes as Trump prepares for a Middle East tour, signaling his intent to strengthen ties with the region. He also plans to address the potential renaming of the Persian Gulf, a move that could impact relations with Iran.

Commodities:

Oil prices steadied on Thursday after falling more than $1 in the previous session as uncertainty over the outcome of trade talks between the U.S. and China, the world's two largest oil consumers, weighed on investor sentiment. Gold prices climbed on Thursday after the Federal Reserve warned of rising inflation and labor market risks fuelling economic uncertainty, while investors awaited the U.S.-China trade talks

Currency:

The U.S. dollar held steady against the euro on Thursday following its biggest rise in two weeks a day earlier, when the Federal Reserve warned of rising risks to the economy from higher inflation and unemployment.

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