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Market Review US:

US Stocks slipped on Wednesday as investors digested a deluge of earnings reports and looked toward more results from megacap technology companies.

Asia:

Markets slipped Thursday as investors look to the Bank of Japan's rate decision, as well as key business activity figures from China.

India:

The Indian market slipped in the red on Wednesday after giving a positive close for the past 2 trading sessions. The BSE Sensex fell more than 400 points while the Nifty50 closed below 24,400 levels. Market is expected to open on a gap down note and likely to witness range bound move during the day.

Global Economy:

Japan's factory output increased by 1.4% month-on-month, surpassing the median market forecast of 1%. This data was released by the Ministry of Economy, Trade and Industry. Looking ahead, manufacturers anticipate a significant rise in output of 8.3% for October, followed by a projected decline of 3.7% in November. Additionally, Japanese retail sales rose by 0.5% year-on-year in September, falling short of the expected 2.3% increase. China's non-manufacturing activity showed signs of recovery, with the official non-manufacturing PMI rising to 50.2, up from 50.0 in Sep. This slight increase indicates a return to expansion, as the 50-point threshold separates growth from contraction. Additionally, the composite PMI, which combines both manufacturing and services sectors, reached 50.8 for the month. This data provides some relief to Chinese policymakers amid ongoing concerns about the overall economic recovery in the economy.

Commodities:

Oil prices rose on Thursday, extending the previous day's rally, driven by optimism over U.S. fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+ may delay a planned output increase offered support. Gold climbed to a record, boosted by haven demand before the US election and shrugging off data that could influence the size of Federal Reserve rate cuts this year.

Currency:

The yen remained under pressure on Thursday as the Bank of Japan looked set to keep ultra-low interest rates steady, while the U.S. dollar paused ahead of jobs data later this week and the U.S. presidential election next week.

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