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Market Review

US:

Dow and other major indexes retreated as a postelection rally took a breather amid lower volume. Small caps suffered the biggest losses on the stock market today, erasing substantial gains from the session before.

Asia:

Asia-Pacific stock markets opened lower Wednesday, tracking losses on Wall Street as the U.S. postelection rally stalled overnight.

India:

Markets ended in the red for the third consecutive session, though the pace of selling slowed down. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

British shoppers faced renewed pressure on their budgets in Oct after grocery price inflation edged higher for the second month in a row. Market researcher Kantar said annual grocery price inflation was 2.3% in the four weeks to Nov. 3, having been 2.0% in the previous four-week period.

Japan's wholesale inflation accelerated in Oct as renewed yen falls pushed up import costs for some goods, complicating the central bank's decision on how soon to raise interest rates. The corporate goods price index, which measures the price that companies charge each other for goods and services, rose 3.4% in Oct from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% gain.

French economic growth will flat line in the final three months of the year as activity moderates in the wake of the Olympic Games, the central bank said on Tue in its monthly outlook. A pull-back was widely expected after economic growth reached 0.4% in the third quarter, boosted by an influx of tourists for Olympics in Paris and gains from broadcasting rights on the Games.

Commodities:

Oil prices moved little in Asian trade on Wednesday, hovering around two-week lows after the OPEC cut its demand outlook again, while focus remained on more stimulus measures in China.

Gold prices edged up on Wednesday as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve’s monetary policy path.

Currency:

The U.S. dollar held near a 6-1/2-month peak against major peers and bitcoin was solidly poised just below record highs on Wednesday as markets sized up so-called Trump trades ahead of key U.S. inflation data later in the day.

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