IGI Logo

Market Review

US:

US stocks finished mixed on Tuesday as investors assessed fresh labor market data and continued sector rotations, leading to another cautious session on Wall Street.

Asia: Asian stocks opened slightly lower after weak US jobs data failed to lift expectations of further interest-rate cuts by the Federal Reserve.

India:

India's benchmark indices extended losses for a third session on Tuesday, weighed down by a sharp depreciation in the Indian rupee and persistent outflows from foreign investors. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

The nation’s busiest seaport handled 11.5% less import volume in November than in the year-ago month after shippers built early inventories to avoid President Trump’s tariffs on goods such as toys, auto parts and metal furniture, Gene Seroka, executive director of the Port of Los Angeles, said on Tuesday.

President Trump is scheduled to interview Federal Reserve governor Christopher Waller on Wednesday as a potential candidate for Federal Reserve chair, according to The Wall Street Journal. The interview process remains fluid, with officials noting that meetings could be postponed or canceled as Trump continues to evaluate candidates. Last week, Trump met with former Fed governor Kevin Warsh, whom he described as being at the top of his list for the position alongside Kevin Hassett, the current director of the National Economic Council.

Further interest rate cuts could put U.S. monetary policy on an accommodative footing that stimulates economic growth and risks a new jump in inflation, Atlanta Federal Reserve President Raphael Bostic said Tuesday.

Commodities:

Oil prices climbed sharply on Wednesday after U.S. President Donald Trump ordered a total and complete blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geopolitical tensions at a time of concerns over demand

Gold climbed on Wednesday after a U.S. jobs report showed the unemployment rate rose in November, buoying bets of further U.S. interest rate cuts next year while pressuring the dollar and yields

Currency

The U.S. dollar weakened against major currencies following stronger-than-expected job growth data. The Federal Reserve may exercise caution in adjusting interest rates.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176