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Market Review

US: All three Wall Street indices closed on a positive note on Friday, with S&P 500 looking to snap its five-day losing streak.

Asia: Markets in the Asia Pacific showed movement early in the day even as Wall Street bounced back from a five-day rout. India: The NSE Nifty 50 and BSE Sensex snapped their two-day winning streak on Friday. However, the benchmarks rose for the second consecutive week.

Market is expected to open on a positive note and likely to witness range bound move during the day.

Global economy: U.S. manufacturing moved closer to recovery in December, with production rebounding and new orders rising further, but the outlook remains uncertain amid the threat of higher tariffs that could raise prices of imported raw materials. Seven industries, including primary metals, electrical equipment, appliances and components as well as paper products and miscellaneous manufacturing reported growth last month. Among the seven industries reporting contraction were textile mills, machinery and transportation equipment. The number of unemployed people in Germany rose by 10,000 in December, reaching a seasonally adjusted total of 2.87 million, according to the federal labour office. This increase was less than the expected rise of 15,000. The average unemployment rate for 2024 edged up to 6.0%, compared to 5.7% in 2023. Additionally, there were 654,000 job openings in December, 59,000 fewer than a year ago, indicating a slowdown in labour demand.

Commodities: Oil prices hovered at their highest since October on Monday as investors eyed the impact on global fuel demand from colder weather in the Northern Hemisphere and Beijing's economic stimulus measures. Gold prices held steady on Monday as investors awaited a slew of U.S. economic data due out this week for guidance on the Federal Reserve's interest rate stance.

Currency: The dollar strayed not too far from a two-year peak on Monday as traders awaited a raft of U.S. economic data releases this week, headlined by December's nonfarm payrolls report, for further clues on the Federal Reserve's rate outlook..

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