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Market Review

US:

US stocks closed out the trading week near the unchanged mark in a subdued session on Friday, with the S&P 500 and Dow posting weekly declines, while the Nasdaq secured its fourth consecutive week of gains.

Asia:

Most indices in Asia gave up their early gains and traded with little change

India:

The benchmark equity indices recorded a fourth straight week of gains as they ended higher after a volatile trading session on Friday. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

Chinese industrial production grew as expected in November as recent stimulus measures from Beijing supported business activity, although retail sales missed expectations as private spending remained weak. Industrial production grew 5.4% year-on-year as expected in Nov. Growth also picked up marginally from the 5.3% seen in the prior month. The reading indicated that Chinese business activity, especially in the country’s massive industrial sector, was beginning to pick up following more supportive measures from Beijing over the past three months.

Japan's core machinery orders rose 2.1% in October from the previous month, government data showed on Monday. On a year-on-year basis, core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, grew 5.6%, versus a forecast for a 0.7% uptick, the Cabinet Office data showed. By sector, core orders from manufacturers jumped 12.5% month-on-month in October, while those from non-manufacturers slipped 1.2% in the same month.

Commodities:

Oil prices inched lower in Asian trade on Monday as markets remained cautious ahead of the U.S. Federal Reserve’s policy meeting later this week, while focus was on a barrage of Chinese economic data for more cues on demand.

Gold prices held steady on Monday as investors awaited the Federal Reserve's upcoming meeting, where a third interest rate cut this year is anticipated.

Currency:

The US dollar hovered close to a three-week peak versus major peers on Monday amid expectations the Federal Reserve will cut interest rates this week but then signal a measured pace of easing for 2025.

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