IGI Logo

Market Review

US:

The S&P 500 edged closer to a new all-time high on Thursday, marking a sharp recovery from its April lows despite persistent concerns over tariffs, geopolitical tensions, and inflation.

Asia:

Asian stocks advanced and a gauge of global equities was on track for another record high on calming geopolitical concerns and increased expectations for Federal Reserve interest-rate cuts this year.

India:

Indian benchmark, Sensex and Nifty, ended higher on Thursday, driven by strong gains in financial and metal stocks, as a weaker U.S. dollar and easing Middle East tensions boosted sentiment. Market is expected to open on a gap up note and likely to witness a positive move during the day.

Global economy:

The U.S. trade deficit in goods increased in May amid a decline in exports, but an ebbing inflow of imports likely positions trade to make a big contribution to gross domestic product in the second quarter. The goods trade gap widened 11.1% to $96.6 bn last month. Exports of goods dropped $9.7 bn to $179.2 bn. Goods imports were little changed at $275.8 bn.

China’s industrial profits swung back into a sharp decline in May from a year earlier, as factories slowed activity in the face of broader economic stress and a fragile trade truce with the United States. Deepening deflationary pressures and a persistent property crisis continued to undercut demand and economic growth despite an unexpected pickup in retail growth last month. Profits at China’s industrial firms fell 9.1% in May from a year earlier, snapping a two-month growth streak.

Commodities:

Oil prices rose in Asian trade on Friday amid some signs of resilient U.S. demand, although they were nursing steep losses this week as concerns over Middle Eastern supply disruptions cleared.

Gold fell on Friday, heading for a second weekly loss as a slight uptick in the dollar and the Israel-Iran truce weighed on prices, with markets eyeing U.S. inflation data for clues on the Federal Reserve's interest rate trajectory.

Currency:

The dollar drifted on Friday, hovering near its lowest level in 3-1/2 years against the euro and sterling, as traders wagered on deeper U.S. rate cuts while awaiting trade deals ahead of a July deadline for President Donald Trump's tariffs.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176