Market is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
MARKET REVIEW
US:
The S&P 500 and the NASDAQ advanced for a fourth consecutive session on Monday, as investors geared up for a slew of mega-cap earnings and a Federal Reserve update on interest rate policy later this week.
Asia:
Asian equities slipped as tariff concerns resurfaced after President Donald Trump threatened higher levies on South Korean goods, while the yen held on to its gains
India:
India’s benchmark equity indices fell nearly 1% on Friday, capping a tough week, as the rupee slid to fresh record lows and ongoing geopolitical tensions kept investors firmly in riskoff mode. Market is expected to open on a gap up note and likely to witness positive move during the day.
Global economy:
A leading indicator of Japan’s services sector prices rose 2.6% in December from a year earlier, a sign labour shortages continue to prod companies to pass on rising costs. The increase in the services producer price index, which tracks the price companies charge each other for services, followed a 2.7% gain in November. Prices rose for labour-intensive industries such as hotel and construction work, underscoring the central bank’s view a tight job market will keep pushing up wages and service-sector inflation.
U.S. President Trump announced increase in tariffs on South Korean goods from 15% to 25% due to the Korean legislature’s failure to approve a trade agreement reached last year. The tariff hike will affect South Korean automobiles, lumber, pharmaceuticals, and other products subject to reciprocal tariffs.
Trump will travel to Des Moines, Iowa on Tuesday to visit a local business and deliver a speech focused on the U.S. economy, according to White House press secretary Karoline Leavitt. The President plans to address concerns about affordability in his meetings with local residents and state lawmakers.
Commodities:
Oil prices slipped on Tuesday despite a massive winter storm disrupting crude production and refinery operations along the U.S. Gulf Coast. Gold rose on Tuesday, after breaking through the $5,100 mark for the first time in the previous session, as safe-haven demand lingered amid geopolitical uncertainty, while silver too hovered near all-time highs.
Currency:
The yen held firm on Tuesday after two consecutive sessions of sharp gains, with traders remaining alert to the possibility of coordinated currency intervention by U.S. and Japanese authorities. The US dollar is soft today as haven demand lifts gold to fresh records and traders brace for the Fed rate decision.
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
.jpg)