Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
Oil prices remained near eight-month lows on Monday, as recession fears in the United States, the world's largest oil consumer, outweighed concerns that rising tensions in the Middle East might disrupt supplies from the key production region. Recent US economic data presented a mixed outlook. Average hourly earnings increased by 0.2%, slightly below the expected 0.3%. Non-farm payrolls rose by just 114,000, significantly below the anticipated 176,000, and the unemployment rate increased to 4.3%, the highest since November 2021. In India, the HSBC Services PMI was 60.3, below the forecast of 61.6. The US ISM Services PMI, expected to be 51.4, will be released later today, and upcoming Fed commentary will be crucial for market sentiment
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