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Market Review

US:

Earnings news and a bullish outlook in cloud computing and social networking gave stocks a boost Thursday. The Nasdaq led the advance while other key indexes tagged along for smaller gains, but all succumbed to some profit-taking by session's end.

Asia:

Asia-Pacific markets rose after China said that it was evaluating possible trade talks with the U.S.

India:

Nifty ended Wednesday’s session at the day’s low, as broad-based selling across key sectors and midcaps overshadowed marginal gains in heavyweight stocks. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

U.S. manufacturing contracted for a second straight month in April as tariffs on imported goods strained supply chains, keeping prices at the factory gate elevated and encouraging some firms to lay off workers. The Institute for Supply Management (ISM) survey showed President Trump’s protectionist trade policy was hurting manufacturers. Tariffs were cited as problematic by respondents in every industry, with some taking issue with the disorderly manner in which the import duties were being imposed

U.S. construction spending unexpectedly fell in March amid broad declines in outlays on private and public projects. The Commerce Department’s Census Bureau said that construction spending dropped 0.5% after a slightly downwardly revised 0.6% increase in Feb. Economists polled by Reuters had forecast construction spending gaining 0.2% after a previously reported 0.7% jump in Feb.

South Korea’s consumer prices rose 2.1% in April over a year, slightly above market expectations, official data showed on Friday. That compared with a 2.1% rise in March and 2.0% tipped in a Reuters poll of economists. The consumer price index rose 0.1% on a monthly basis, after rising 0.2% in the previous month. It was the slowest since Nov 2024.

Commodities:

Oil prices rose in Asian trade recovering some recent losses after China said it was open to trade talks with the U.S., sparking hopes for a de-escalation in a bitter trade war between the two economic powerhouses.

Gold prices were poised for their worst weekly performance in more than two months on Friday as receding trade tensions tempered safe-haven demand, while the market's focus shifted to the U.S. non-farm payrolls report, due later in the da

Currency:

The dollar has perked up recently as news around trade deals stoked optimism as a sign of things to come in the next 100 days of the Trump administration.

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