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Market Review

US:

US stocks closed mixed as investors rotated out of tech as they took in fresh labor market data and grappled with President Trump's salvos on defense and Venezuela.

Asia:

Asian stocks drifted lower and the dollar stood tall on Friday ahead of a crucial jobs report, while investors girded for a Supreme Court ruling on the legality of President Donald Trump's sweeping global tariff that jolted markets last year.

India:

Indian equities ended lower for the fourth consecutive session on Thursday. The Nifty ended 263.90 points or 1% lower at 25,876.85, Sensex ended 780.18 points or 0.92% down at 84,180.96.Market is expected to open on a flattish note and likely to witness range bound move during the day

Global economy:

China’s consumer inflation accelerated in December to the fastest pace in nearly three years as spending picked up ahead of the New Year holiday, while factory-gate deflation remained entrenched, signaling that underlying demand stayed weak. Consumer prices rose 0.8% from a year earlier, their highest level since February 2023.

U.S. wholesale inventories increased again in October, suggesting inventories could add to gross domestic product in the fourth quarter after being a drag for two straight quarters. Stocks at wholesalers rose 0.2% after increasing 0.5% in September. The report was delayed by the 43-day shutdown of the government. Inventories, a key part of gross domestic product, increased 1.7% on a year-over-year basis in October.

The US trade deficit made a sharp and unexpected pullback in October, reaching its lowest level since 2009 as goods imports dropped while President Donald Trump's tariffs took hold, government data showed Thursday. The overall trade gap plunged 39 percent to $29.4 billion in October.

Commodities:

Oil prices are climbing for a second day. This surge is driven by uncertainty over Venezuela's oil supply and growing concerns about output from Iran due to civil unrest. Major oil companies are vying for U.S. government deals to export Venezuelan crude

Gold prices dipped due to commodity index readjustments and a stronger dollar, with investors awaiting U.S. non-farm payrolls data. The dollar advanced as traders braced for jobs figures and a Supreme Court decision.

Currency:

The US dollar strengthened as traders awaited crucial US jobs data and a Supreme Court ruling on President Trump's tariff powers.

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