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Market Review

US: U.S. equities fell from record levels and traders will look out on how the market will manage to absorb heavy Treasury and corporate sales amid month-end positioning.

Asia: Stocks in the Asia-Pacific region were trading lower after Wall Street saw a pullback near record highs as traders await remarks from Federal Reserve speakers.

India: India's benchmark stock indices closed lower for the second day in a row on Monday, led by losses in Infosys Ltd. and Asian Paints Ltd. The NSE Nifty 50 ended 90.65 points, or 0.41%, lower at 22,122.05, and the S&P BSE Sensex fell 352.66 points, or 0.48%, to end at 72,790.13. Market is expected to open on flattish note and likely to witness sideways move during the day.

Global Economy: Japan's core consumer inflation slowed for a third straight month in January but beat forecasts and held at the central bank's 2% target, keeping alive expectations it will end negative interest rates by April. The 2.0% gain in the core consumer prices index (CPI) was slower than the 2.3% increase in December, internal affairs and communications ministry data showed on Tuesday, underscoring views waning cost-push inflation from commodity imports could ease the pain of higher living costs.

Sales of new U.S. single-family homes rose less than expected in January amid a sharp decline in the South region, but demand for new construction remains underpinned by a persistent shortage of previously owned homes. New home sales increased 1.5% to a seasonally adjusted annual rate of 661,000 units last month, the Commerce Department's Census Bureau said on Monday. The sales pace for December was revised lower to 651,000 units from the previously reported 664,000 units

Commodities: Gold prices were steady on Tuesday, as investors awaited a key U.S. inflation reading due later this week that could provide more information on how soon the Federal Reserve might begin cutting interest rates. Oil prices rose in Asian trade on Tuesday, extending the prior session’s gains as fears of tighter supplies- amid continued disruptions in global shipping activity and a conflict in the Middle East- sparked a strong recovery in prices this week.

Currency: The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key US economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates.

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