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Market Review

US:

US stocks gave back early gains and fell at the finish Wed following word of a U.S.-China trade deal and a report showing inflation has cooled. Meanwhile, an Amazon partnership lifted an energy company's shares while Tesla gave back most of its early gains on the stock market today amid delays with its robotaxi launch.

Asia:

Asian shares were trading mixed early Thursday after Wall Street’s rally stalled as investors appeared not to react much to the results of the latest round of China-U.S. trade talks.

India:

Indian equities ended mixed on Wednesday, with benchmark indices extending their winning streak to a sixth straight session, supported by gains in IT and oil & gas stocks, even as broader market indices, particularly midcaps, underperformed. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

US Federal Budget Balance, a key indicator of the govt’s financial health, has reported a significant deficit. The actual deficit stands at -$316.0B, a figure that has surpassed the forecasted deficit of -$314.3B. This deficit, which measures the difference in value between the federal government’s income and expenditure during the reported month, is a stark contrast to the previous surplus of $258.0B. A positive number in the Federal Budget Balance indicates a budget surplus, while a negative number indicates a deficit. Japan’s business sentiment worsened in April-June for the first time in five quarters, a sign uncertainty over U.S. tariff policy was taking a toll on the country’s export-heavy economy. An index measuring big firms’ business confidence fell to -1.9 in the current quarter, following +2.0 in Jan-March, Ministry of Finance data showed.

Commodities:

Oil prices edged higher on Thursday to their highest in more than two months, after U.S. President Trump said U.S. personnel were being moved out of the Mid East, which raised fear that escalating tensions with Iran could disrupt supply. Gold gained for a second day on increased tensions in the Middle East, with its haven status also supported by President Trump’s comments that he will inform trading partners on tariff rates within two weeks.

Currency:

The US ordered some staff to depart the embassy in Baghdad and authorized military service members’ families to leave the Middle East, officials said, after Iran threatened to attack US bases if talks over its nuclear program fall through.

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