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Market Review

US:

The upcoming results from Microsoft Corp., Meta Platforms Inc., Apple Inc., and Amazon.com Inc. will be critical, especially after a lackluster start to the mega-cap earnings season. Fed officials are expected to signal a potential rate cut in the coming months, with Jerome Powell possibly providing hints on Wednesday.

Asia: Asia-Pacific markets logged losses early Tuesday as the Bank of Japan started its two-day policy meeting, in which investors are expecting a rate hike. US Federal Open Market Committee is also scheduled to start its policy meeting later today.

India: The Indian benchmark stock indices erased most gains to end a volatile session with marginal gains on Monday as Bharti Airtel Ltd. and HDFC Bank Ltd. dragged. The NSE Nifty 50 ended 1.25 points or 0.01% higher at 24,836.10, and the S&P BSE Sensex settled 23.12 points or 0.03% higher at 81,355.84. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global Economy: British retailers suffered another bad month in July and expect further weakness in August as poor weather and generally weak trading conditions continued to hamper demand, the Confederation of British Industry said on Monday. The CBI said its monthly retail sales balance sank to -43 in July from June's reading of -24, its lowest since April. Retailers forecast the index would improve to -32 in August, but that was still the weakest outlook since February. British retailers suffered another bad month in July and expect further weakness in August as poor weather and generally weak trading conditions continued to hamper demand, the Confederation of British Industry said on Monday. The CBI said its monthly retail sales balance sank to -43 in July from June's reading of -24, its lowest since April. Retailers forecast the index would improve to -32 in August, but that was still the weakest outlook since February.

Commodities: Gold struggled for momentum on Tuesday as investors looked for more cues on when the U.S. central bank will cut interest rates from this week's policy meeting and data releases. Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session, over concerns about Chinese demand and as the market shrugged off the risk of conflict escalating in the Middle East.

Currency: The dollar and yen remained within close ranges on Tuesday as traders awaited a series of key central bank decisions, starting with midweek monetary policy meetings from the Bank of Japan (BOJ) and the Federal Reserve

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