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Market Review

US:

The S&P 500 reached fresh highs on Wednesday after a reading on wholesale prices unexpectedly declined, a welcome development for investors clamoring for a Federal Reserve rate cut next week to boost the economy

Asia:

Asian stock markets traded in mixed fashion on Thursday amid caution ahead of U.S. consumer inflation data, while Japan’s Nikkei index scaled new record highs amid political unrest in the country.

India:

The Indian equity benchmark indices, ended in green on Wednesday on Wednesday, driven by positive sentiment surrounding India-US trade negotiations. Market is expected to open on a flattish note and likely to witness range bound move during the day

Global economy:

Japan’s wholesale inflation accelerated in August on steady rises in food costs, highlighting sticky inflationary pressure that may keep alive market expectations of a near-term interest rate hike. The data, seen as a leading indicator of consumer prices, will likely be among factors that the Bank of Japan will scrutinise at its next policy meeting on September 18-19.The corporate goods price index, which measures the price companies charge each other for their goods and services, rose 2.7% in the year to August, matching market forecasts and accelerating from a revised 2.5% increase in July.

The Energy Information Administration’s saw a surprising increase in U.S. crude oil inventories, significantly exceeding market forecasts. The actual number of barrels of commercial crude oil held by U.S. firms rose to 3.939 mn, a substantial leap from the anticipated decrease of 1.900 mn. This unexpected rise in crude inventories not only surpassed the forecasted decline but also showed a stark contrast to the previous week’s inventory count. The prior week had seen an inventory level of 2.415 mn, demonstrating a significant rise of over 1.5 mn barrels within a week

Commodities:

Oil prices remained stable on Thursday after a previous surge, influenced by both geopolitical tensions and economic factors

Gold steadied near a record high on Thursday, as softer-thanexpected U.S. producer prices data reinforced expectations of a Federal Reserve interest rate cut next week, while investors awaited U.S. consumer inflation data due later in the day.

Currency:

The dollar has been beaten down this year as investors have priced in a resumption of the Federal Reserve's rate-cutting cycle. But even if lower nominal rates are already reflected in the greenback's price, lower 'real' rates may not be

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