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Market Review

US:

US equities rose for the seventh straight day to hit fresh alltime highs on Wednesday. This is the longest winning run for the equities since November.

Asia:

Stocks rose on Thursday, with markets from Tokyo to New York at record highs, while traders counted down to U.S. data that is expected to show inflation easing and pave the way for rate cuts in September.

India:

The Indian benchmark equity indices logged their worst session since June 4 after hitting respective highs at open on Wednesday as shares of Mahindra & Mahindra Ltd. fell nearly 7%. Market is expected to open on a positive note and likely to witness range bound move during the day.

Global economy:

According to the Commerce Department's Census Bureau, wholesale inventories rose 0.6% as previously estimated last month. Stocks at wholesalers rose 0.2% in April. Stocks at wholesalers rose 0.2% in April. There is cautious optimism that inventory accumulation could offset some of the anticipated hit on GDP from a widening trade deficit. Growth estimates for the second quarter are around a 2% annualized rate. The economy grew at a 1.4% pace in the January-March quarter. Ukraine's consumer price inflation quickened to 4.8% yoy in June fuelled by an increase in consumer electricity prices. Inflation was 3.3% in May yoy. Ukraine's government was forced to increase electricity prices as it hunts for funds to repair the energy system, severely hit by the Russian bombardments. As businesses increasingly use generators to produce electricity, fuel prices have also increased. The data showed that fuel prices grew by 25.5% in June yoy.

Commodities:

Oil prices rose in Asian trade on Thursday, extending recent gains as weakness in the dollar ahead of key U.S. inflation data benefited price, while bets on tighter global supplies remained in play. Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path.

Currency:

The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England

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