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Market Review

US:

U.S. equities rose on Wednesday as the Supreme Court’s tough questions about President Donald Trump’s tariffs raised hopes that some of the duties may be rolled back.

Asia:

Asia shares rose on Thursday, reversing a steep selloff from the previous session after better-than-expected U.S. economic data drew investors back into markets trading near record highs.

India:

Indian stock markets remained closed on Wednesday on account of Guru Nanak Jayanti. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Vietnam’s exports fell in October from a month earlier, with shipments to the United States also dropping as it adapts to U.S. tariffs. Shipments were down 1.5% compared to September, while imports dropped 1% on the month. Exports to the United States fell on a monthly basis to $13.4 billion, from $13.7 billion in September, according to the report.

U.S. services sector activity increased to an eight-month high in October as new orders grew solidly, but subdued employment pointed to lackluster labor market conditions against the backdrop of economic uncertainty stemming from tariffs.

Greater Toronto Area home sales fell to a four-month low in October as an uncertain economic outlook discouraged buyers. Seasonally adjusted sales declined 2.3% last month from September to 5,646 units, marking the lowest level since June. The board’s home price index was up 0.2% month-over-month, after seasonal adjustment, to C$976,600 ($696,378). That follows four straight months of declines.

Commodities:

Oil prices were largely flat early on Thursday, after settling at two-week lows in the previous session as pressure from weaker demand and a global oil glut continued to weigh on the market. Gold dipped on Thursday after stronger-than-expected private U.S. payrolls data dented expectations of another interest rate cut by the U.S. Federal Reserve in December.

Currency:

The dollar held just below multi-month highs on Thursday, with a recovery in appetite for riskier assets pulling it off recent peaks, while sterling was under pressure ahead of a Bank of England meeting where investors anticipate a dovish tone.

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