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Market Review

US:

US stocks jumped on Wednesday after the Federal Reserve decided to cut interest rates once again this year and as traders bet more easing was ahead next year. Asia: Asia-Pacific markets climbed higher on Thursday, following the Federal Reserve’s third rate cut of the year.

India: :

The Indian market closed lower on Wednesday, with the Sensex and Nifty giving up early gains as traders locked in profits ahead of the U.S. Federal Reserve’s policy outcome. The market is expected to open on a positive note and likely to witness positive move during the day.

Global economy:

The Federal Reserve cut interest rates by 25 basis points at the conclusion of its two-day meeting, marking the central bank's third cut of the year. Fed officials were split on the decision to lower rates to a range of 3.50%-3.75%, with policymakers dissenting on both sides

Australian employment fell in November by the most in nine months, while annual jobs growth slowed sharply from earlier this year, a sign the labour market is cooling and could ease pressure for a near-term rate hike. Figures showed net employment fell 23,100 in November from October, when it jumped 41,200.

Italian industrial output dropped 1.0% in October compared with the previous month, a sharper decline than the 0.3% decrease forecast by economists. The decline comes after a 2.7% increase in September. On a work-day adjusted year-onyear basis, industrial output fell 0.3% in October

Commodities:

Oil prices climbed for a second day as the U.S. seized a sanctioned tanker off Venezuela, heightening supply disruption fears. Reports of Ukraine striking a Russian oil vessel also provided support.

Gold prices climbed following a U.S. Federal Reserve interest rate cut. Policymakers showed division on further rate reductions for next year. Meanwhile, silver achieved a new record high. The Fed's move came amid mixed signals on the job market and inflation.

Currency:

The dollar fell after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated, giving investors confidence to short the currency as they bet on two more rate cuts next year.

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