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Market Review

US: 

US stock market ended mixed on Monday as the selloff in Treasuries abated, with the NASDAQ and S&P 500 recovering some losses.

Asia:

Asian markets traded higher on Tuesday, tracking overnight gains on Wall Street

India:

Benchmark equity indices ended Monday's trading session in negative territory, weighed down by weak global cues. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global economy:

Major global companies have boosted hiring for professional roles as they enter the final quarter of the year, especially in retail, technology and healthcare, but demand for financial services recruits is more sluggish, a survey showed on Tuesday. Job vacancies for professional roles globally were up nearly 9% month on month in Oct, compared with a 5% fall in Sep, according to an index from recruiters Robert Walters. Vacancies rose by 11% on the month in the US and 4% in Britain, but there were bigger increases of 18% and 22% in Canada and Mexico, which Fowlston linked to businesses' wish to be located closer to their U.S. clients. China's fiscal revenue in the first 10 months of 2024 fell by 1.3% from a year earlier, narrowing from a 2.2% decline in the January-September period, the finance ministry data showed on Monday. Fiscal expenditure increased 2.7% in the first 10 months of the year, following a 2% rise in the first nine months of 2024. October data has painted a mixed picture for China's economic recovery, despite policy support rolled out since late September. China unveiled a 10 trillion Yuan debt swap package earlier this month aimed at alleviating the financial strain on local government debt burdens, as concerns mount over the potential trade disruptions following Donald Trump's U.S. election victory.

Commodities:

Oil prices retreated on Tuesday after the previous day's rally driven by halted production at Norway's Johan Sverdrup oilfield, but investors remained cautious amid fears of a potential escalation in the Russia-Ukraine war. Gold prices struggled for momentum in early Asian trade on Tuesday, as investors awaited comments from Federal Reserve officials for further cues about the U.S. interest rate trajectory.

Currency:

The Japanese yen stabilized against the US dollar after a recent decline, as the US currency experienced profittaking following a stellar rally.

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