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Market Review

US:

Wall Street's main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole.

Aisa:

Stocks in Asia and oil prices edged lower on Tuesday before a key meeting of central bankers and as traders evaluated promising diplomatic signals toward ending hostilities between Russia and Ukraine.

India:

Equity benchmark indices ended with solid gains on Monday led by auto, realty and consumer durables shares as investors cheered plans of GST reforms. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Economy:

Canadian housing starts increased by 4% in July from the previous month. The seasonally adjusted annualized rate of housing starts climbed to 294,085 units in July, up from a revised 283,523 units in June. The increase came as a surprise to market observers who had anticipated a potential slowdown in new residential construction activity.

Spain’s public debt decreased to 103.4% of GDP at the end of June. This marks a reduction from the 105.3% debt-to-GDP ratio recorded at the end of June 2024, the central bank reported. The Spanish govt has set a target to further reduce the debt-toGDP ratio to 101.7% by the end of 2025.

Chile’s economy expanded 0.4% in the second quarter compared to the previous three-month period. The quarterly growth figure aligned with market expectations. On an annual basis GDP increased by 3.1% during the same period, slightly exceeding economist forecasts of 2.9% growth.

Commodities:

Gold prices were largely steady on Monday, as investors focused on U.S. President Donald Trump's meeting with Ukrainian and European leaders, and the Federal Reserve's annual symposium in Jackson Hole this week.

Oil prices slipped in early Asian trade on Tuesday as market participants contemplated planned three-way talks among Russia, Ukraine and the U.S. to end the war in Ukraine, which could lead to an end to sanctions on Russian crude

Currency:

The U.S. dollar held steady against its major peers on Tuesday as global markets awaited the outcome of a White House summit with European nations that could determine the next phase of the war in Ukraine.

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