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Market Review

US:

US stock market ended lower on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia’s earnings.

Asia:

Asian markets traded lower on Friday, following overnight losses on Wall Street.

India:

On Thursday, the Indian stock market ended higher, with both the benchmark indices scaling their 52-week highs, driving the session. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

U.S. President Trump signed an executive order to remove his trade tariffs on several Brazilian agricultural products, including beef, coffee, and others. The order will remove import duties on the goods as of November 13.

Chicago Federal Reserve President Austan Goolsbee said he is uneasy about cutting interest rates in the face of too-high inflation that’s steady at best and by some measures getting worse, remarks that signal a reluctance to support a third straight reduction in borrowing costs next month

Singapore’s monetary policy stance remains appropriate, with the output gap to remain positive in 2025 and come in at around 0% next year, central bank chief economist Edward Robinson told a briefing on Friday.

Bank of Japan Governor Kazuo Ueda said the central bank must be mindful of the chance the weak yen could affect underlying inflation by pushing up import costs and broader prices.

Commodities:

Oil prices extended their decline for a third straight session on Friday as the U.S. pushed for a Russia-Ukraine peace deal that could bring more oil supplies onto the global market, while uncertainty over U.S. interest rate cuts curbed investor risk appetite.

Currency:

The dollar was on track for its best week in over a month on Friday as investors wagered the Federal Reserve is unlikely to cut rates next month, with the case for further easing made no clearer by a confounding U.S. jobs report.Gold prices slipped on Friday and were on track for a weekly fall, as a stronger-than-expected U.S. jobs report reinforced expectations that the Federal Reserve will refrain from cutting rates at its December meeting.

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