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US:

U.S. stocks traded in mixed fashion on Monday as investors hunkered down before a Federal Reserve meeting this week where the central bank is likely to start a rate-cutting cycle.

Asia:

Most Asia-Pacific markets were mixed Tuesday, following a mixed trading session on Wall Street as investors prepare for the Federal Reserve to kick off its monetary loosening cycle.

India:

The S&P BSE Sensex ended Monday's session at a record high, while the NSE Nifty 50 also closed higher, buoyed by gains in ICICI Bank Ltd. and Larsen & Toubro Ltd. Both the benchmark stock indices traded at fresh opening highs, before paring gains through midday. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global economy:

Canadian home sales rose 1.3% in August from the previous month, with sales reaching their highest level since January but falling 2.1% on an annual basis, data from the Canadian Real Estate Association showed on Monday.The industry group's home price index was unchanged on the month and was down 3.9% annually, while the national average selling price edged up 0.1% on the year.

Argentina's sovereign bonds and stock index climbed in early trading on Monday, as investors cheered an ambitious 2025 budget plan from libertarian President Javier Milei, that predicts robust growth and sticks to a "zero" fiscal deficit.On Sunday Milei had told Congress his 2025 budget would stick by his key pledge to establish a fiscal surplus and that he would veto any bills that threatened his zero deficit plan.The draft budget foresees the economy expanding 5% in 2025, inflation dropping from over 250% now to some 18% by the end of next year, and the exchange rate weakening to 1,207 pesos per dollar by end2025 from 960 per dollar now. There would be a primary fiscal surplus of 1.3% of gross domestic product

Commodities: Gold prices held steady on Tuesday to hover near record highs scaled in the previous session, as markets anticipate the beginning of a U.S. easing cycle, with expectations that it might start with an outsized rate cut Oil prices rose slightly in Asian trade on Tuesday, seeing persistent support from the prospect of interest rate cuts and supply disruptions caused by Hurricane Francine.

Currency:

The dollar traded near its lowest levels of the year on Tuesday, on the eve of the expected the start to a U.S. easing cycle that markets are betting may begin with an outsized rate cut.

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