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Market Review

US:

US stocks crashed in their worst session in 2025 so far as investors were spooked by weak economic data and weakest consumer sentiment on inflation since 1995 on Friday.

Asia:

Asia-Pacific markets were trading mixed on Monday after starting on the backfoot, following Wall Street's worst session of the year last Friday. US markets fell on lackluster economic data that pointed to a slowing economy and sticky inflation.

India:

On Friday, the domestic equity market ended lower for the fourth consecutive session, with the benchmark Nifty 50 slipping below 22,800 level. Market is expected to open on a gap down note and likely to witness range bound move during the day.

Global economy:

Canada's retail sales in December grew by a robust 2.5% on a monthly basis, beating analysts' expectations, as a sales tax holiday bumped up spending on food and beverages and people also bought cars and vehicle parts, data showed on Friday.

The U.S. housing market showed signs of cooling off as existing home sales dipped in the latest economic report. The actual number of annualized sales of existing residential buildings came in at 4.08 million, according to the data. This figure failed to meet the market forecast, which had predicted a less severe drop to 4.13 million. The actual number of existing home sales not only fell short of these expectations but also represented a decline from the previous month's figure of 4.29 million.

Commodities:

Oil prices dropped this Monday, influenced by the potential resumption of exports from Kurdistan's oilfields and anticipation of Russia-Ukraine peace talks. Brent crude fell to $74.23 per barrel, and U.S. West Texas Intermediate decreased to $70.12. Iraq plans to export 185,000 barrels daily via the Iraq-Turkey pipeline.

Gold prices hovered near a historic peak, driven by U.S. President Trump's tariff plans and attention on an upcoming U.S. inflation report. The Federal Reserve's interest rate trajectory is in focus as markets await the PCE index for further insights.

Currency:

The euro strengthened after Germany's Friedrich Merz won the national election, but faces long coalition talks. The dollar fell due to concerns over U.S. economic growth and upcoming data releases.

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