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Market Review

US: The US stock market ended lower on Thursday dragged by tech shares amid mixed quarterly earnings. The tech-heavy Nasdaq suffered the biggest percentage drop on cloudy earnings guidance and signs of economic resiliency that could lead the Federal Reserve to keep interest rates higher for longer than expected.

Asia: Asian markets rebounded to trade higher on Friday as investors weighed on key economic data in the region.

India: The domestic equity market suffered steep losses on Thursday with the benchmark indices ending lower for the sixth consecutive session amid multiple headwinds. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global Economy: Profits at China's industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures. The 11.9% YoY rise came on the back of a surprise 17.2% gain in August, and follows strongerthan-expected industrial and consumption activity over September. For the first nine months, profits slid 9% from a year earlier, narrowing from a 11.7% decline in the first eight months.

The U.S. economy grew almost 5% in the third quarter, again defying dire warnings of a recession, as higher wages from a tight labor market helped to fuel consumer spending and businesses restocked at a brisk clip to meet the strong demand. The fastest growth pace in nearly two years spurred by a rebound in residential investment after contracting for nine straight quarters

Commodities: Gold prices flitted in a range-bound trade on Friday as traders weighed the repercussions of the Middle East conflict against expectations that U.S. interest rates would stay higher for longer after the economy's upbeat performance last quarter.

Oil prices rose on Friday, regaining ground after tumbling more than $2 a barrel in the previous session as concerns of a wider Middle East conflict eased while the United States, the world's biggest oil consumer, showed signs of weakening demand.

Currency: The dollar was headed for a weekly gain on Friday, aided by solid U.S. growth figures that bolstered the case for higher-for-longer interest rates, while the yen hovered on the weaker side of 150 per dollar ahead of a key policy meeting next week.

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