Markets is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US: Stocks closed at their highest levels since February as bond yields rose on stronger-than-expected jobs data, easing fears of an imminent economic slowdown.
Asia: Asian stocks opened higher on Monday as the United States and China prepared to resume trade negotiations, while encouraging jobs data from the world's largest economy helped ease concerns about a potential recession.
India: India's benchmark equity indices closed higher for third straight session on Friday, after the Reserve Bank of India Monetary Policy Committee slashed the key lending rate by 50 basis point to bring it to 5.5%.
Markets is expected to open on a gap up note and likely to witness positive move during the day.
Global Economy Chinese consumer price index inflation eased for a fourth straight month in May, while producer inflation fell by its sharpest pace in nearly two years as the country continued to grapple with a bitter trade war with the U.S. CPI inflation fell 0.1% year-on-year in May, in line with forecasts and following a similar decline in the previous month, government data showed on Monday.Month-on-month CPI fell 0.2%, compared to a 0.1% rise last month. Japan’s economy contracted slightly less than initially estimated in the first quarter amid stagnant consumer spending and falling exports due to tariff-induced trade woes.
Gross domestic product fell 0.2% year-on-year in the three months to March 31, better than preliminary estimates of a 0.7% drop, government data showed on Monday. However, the reading marked a sharp reversal from the 2.4% growth recorded in the previous quarter.
Commodities: : Oil prices held on to last week's gains early on Monday as investors waited for U.S.-China trade talks to be held in London later in the day. Gold prices fell on Monday as a stronger-than-expected U.S. jobs report cooled expectations of interest rate cuts from the Federal Reserve, while optimism over easing trade tensions between U.S.-China weighed on the bullion's safe-haven demand.
Currency: The dollar held steady against all major currencies on Monday, as exuberance over an upbeat U.S. employment report gave way to caution ahead of pivotal U.S.-China trade talks set to take place in London later in the day.
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