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Market Review

US:

U.S. stocks were mixed, with the S&P 500 and Nasdaq composite closing at record highs after modest moves higher of less than 0.2%.

Asia:

Asian shares eased from highs on Friday, with Japanese markets retreating from a record peak, as investors locked in profits ahead of a crucial week that includes US President Trump's tariff deadline and a host of central bank meetings.

India:

Indian benchmark indices closed lower on Thursday, dragged down by losses in IT stocks following weak earnings and cautious global cues. Market is expected to open on a gap down note and likely to witness range bound move during the day.

Global economy:

U.S. economic activity grew at a sharply higher rate in July, a pair of S&P surveys of purchasing managers found, though the growth was concentrated in the services sector, while manufacturing struggled.In the services sector, the S&P flash PMI jumped to 55.2 in July, from 52.9 in June. That’s a seven-month high.

Russian Foreign Ministry spokeswoman Maria Zakharova said that rising trade tariffs carried risks for the economy of the US and the whole world. Zakharova told a press briefing that U.S. actions could lead to a "fragmentation of the world economy", and the U.S. had become a source of additional instability in world trade.

Commodities:

Oil prices rose on Friday, buoyed by optimism over a potential trade deal between the U.S. and the European Union and reports of Russian plans to restrict gasoline exports to most countries.

Gold prices inched higher in early Asian trading on Friday, buoyed by an overall weaker dollar, although signs of progress in trade negotiations between the U.S. and its trading partners kept gains in check.

Currency:

The dollar steadied near two-week lows on Friday, on track for its biggest weekly drop in a month, as investors contended with U.S. tariff negotiations ahead of a deadline while looking ahead to central bank meetings next week for clues on policy.

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