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:
U.S. stocks closed higher Friday, snapping three straight days of declines as investors parsed a reading on inflation from the Federal Reserve’s preferred gauge that was in line with Wall Street’s expectations
Asia:
Asian stocks declined on Friday as the outlook for U.S. interest rates remained uncertain and the Trump administration announced a new round of tariff measures
India:
India's benchmark equity indices closed in the red for a sixth straight session on Friday. Market is expected to open on a gap up note and likely to witness positive move during the day.
Global:
Analysis-BOJ board’s hawkish flex lowers bar for an October rate hike A hawkish board split at the Bank of Japan’s policy meeting this month has increased pressure on its dovish governor Kazuo Ueda to move faster on interest rate hikes.The central bank kept rates steady at 0.5% earlier this month.
South Korea cannot pay $350 bn to US for tariff deal
South Korea is unable to pay $350 bn upfront in investment in the United States as President Donald Trump suggested under a deal to cut tariffs and is seeking an alternative solution.Since a handshake deal by the allies’ leaders in July to lower U.S. tariffs to 15% from 25%
Global data center spending to top $500 bn
Global spending on data centers is set to surpass $500 bn in 2025, according to BofA Global Research. The brokerage estimates capital expenditures for the sector at more than $400 bn in 2024, climbing above $500 bn in 2025. The study forecasts a compound annual growth rate of 23% from 2024 to 2028, which would push the global market past $900 bn by 2028.
Commodities:
Oil prices fell as Iraq's Kurdistan region restarted crude exports via Turkey. This adds to global supplies. OPEC+ also plans another oil output hike in November. Brent and WTI crude futures slipped one percent.
Gold prices rose on Monday, hovering near an all-time high, fueled by a weaker U.S. dollar and growing expectations for Federal Reserve interest rate cuts later this year. Traders are currently pricing in a 90% chance of a Fed cut in October.
Currency:
The dollar faces pressure as US economic data approaches. A potential government shutdown looms, possibly delaying jobs reports. This uncertainty complicates Federal Reserve rate decisions.
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