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Market Review

US:

Dow Jones futures were little changed overnight, along with S&P 500 futures and NASDAQ futures. The stock market rally was narrowly mixed on Wednesday on the major indexes after pulling back slightly in the prior session.

Asia:

Most markets in Asia–Pacific region were trading higher on Thursday after US CPI data for October came in line with expectation.

India:

On Wednesday, the Indian stock market extended decline for the fifth straight session, dragged by weak global cues, a surge in US dollar index and unabated selling by foreign investors. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Australia’s job market grew at a slower-thanexpected pace in October, as outsized growth in the labour market now appeared to be cooling after six months of strong expansion. The total number of employed people grew by 15,900 in October. The reading was weaker than expectations of 25,200 people, and slowed sharply from the 64,100 seen in the prior month. This brought Australia’s participation ratewhich gauges the percentage of the population that is in the labour space- down slightly to 67.1% in October, compared to expectations it would remain steady at 67.2%. The unemployment rate was steady at 4.1%.

The latest data on the Federal Budget Balance has been released, revealing that the United States government's income and expenditure balance for the reported month is at a deficit of -257.0 billion dollars. This figure is significantly lower than the forecasted deficit of -226.4 billion dollars, indicating a larger gap between the federal government's income and spending than initially anticipated. The deficit value is also a stark contrast to the previous month's budget surplus of 64.0 billion dollars, thereby marking a substantial shift in the country's fiscal position. The Federal Budget Balance is a crucial economic indicator as it measures the difference in value between the federal government's income and its expenditure during a specific month. A positive number signifies a budget surplus, while a negative number points towards a deficit.

Commodities:

Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.

Gold prices were flat on Thursday after hitting a two-month low earlier, pressured by a stronger U.S. dollar and uncertainty regarding the pace of the Federal Reserve's interest rate cuts.

Currency:

The US dollar reached a one-year high against major currencies, buoyed by Trump's election and expectations for inflation.

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