Market is expected to open on a negative note and likely to remain cautious during the day - Nirmal Bang Ltd
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Market Review
US: US stock market indices ended higher on Friday led by technology shares, with the S&P 500 and Nasdaq registering their biggest daily percentage gains since late August.
Asia: Asian markets traded mixed, while the US stock futures dropped 0.7% in early Monday trade after the fresh geopolitical tensions escalated in the Middle East. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2%.
India: India's benchmark stock indices ended higher for the second day on Friday, led by gains in realty and pharma stocks.Market is expected to open on a negative note and likely to remain cautious during the day.
Global Economy: U.S. restaurant employment reached prepandemic levels in September for the first time in three-and-ahalf years, signaling a potentially broader recovery for the leisure and hospitality industry. The number of Americans employed in food service increased by 61,000 in September from the prior month. Food service and hospitality workers accounted for the majority of jobs added in the wider leisure and hospitality sector, which added 96,000 jobs last month.The gains in restaurant and bar employment last month were almost double the average of 37,000 jobs added monthly over the past year.
China's foreign exchange reserves fell more than expected in September, as the U.S. dollar rose against other major currencies. China's reserves - the world's largest - fell $45 billion to $3.115 trillion last month, from $3.16 trillion in August.The yuan fell 0.5% against the dollar in September, while the dollar rose 0.2% against a basket of other major currencies over the month
Commodities: Gold prices rose more than 1% on Monday as dramatic clashes between Israeli and Hamas forces over the weekend raised the risk of a wider Middle East conflict and boosted demand for safe-haven assets like bullion. Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East.
Currency: The safe-haven dollar and Japanese yen edged higher on Monday as violence in the Middle East spooked markets, while a blowout U.S. jobs report gave the greenback a further leg up.
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