Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
Indian markets logged their best weekly gains in nearly six months as earnings season began on a strong note. The Sensex hit an all-time peak. Investors shrugged off trade tensions after China did not retaliate immediately to the latest U.S. tariff on Chinese goods. A weakness in crude oil prices rejuvenated buying interest in equities.
The Nifty remained volatile during the week in the 10,600-10,800 range. Global markets were under pressure after the United States imposed a 25 percent tariff on $34 billion worth of Chinese imports. China fired back, accusing the United States of violating WTO rules and setting off "the largest trade war in economic history to date”. Markets shrugged off the U.S.-China trade war and bounced back. Back home, an increase in minimum support prices (MSP) for key crops took the market higher on hopes of a buoyant rural economy.
Markets remained on edge through the week on increasing trade tensions between the United States and its key trade partners, including China. Rising oil prices stoked fears that inflation will accelerate back home and the trade deficit could widen. The rupee falling to lifetime lows also played havoc.
Markets remained volatile throughout the week and ended with small gains as upsides were capped due to the United States and China indulging in tit-for-tat tariffs on imports, denting investors’ risk appetite. A plunge in crude oil prices ahead of a key OPEC meeting continued to influence investors.
Markets logged modest gains in a volatile and eventful trading week in which the Reserve Bank of India (RBI) raised rates for the first time in four years while maintaining a neutral stance.
Indian stock markets were optimistic during the week as crude oil prices dropped and the rupee recovered. Investors’ mood also tracked positive global cues as U.S. President Donald Trump revived a summit with North Korean leader Kim Jong Un.
Indian shares logged in minor gains in a highly volatile week with the Nifty moving in a 200-point range. The mood was initially cautious on rising oil prices and a weakening rupee.
Just when markets were ready for their next upward move and the Nifty was positioning itself to touch the 11,000 level again, political uncertainty in Karnataka and a confluence of weak global cues punctured the rally. Fears that the RBI may hike rates in the near term due to a rise in core inflation also dented sentiments.
Indian stocks resumed their upward journey as global markets rebounded on softer-than-anticipated U.S. inflation, which alleviated worries of faster rate hikes by the Federal Reserve. Investors also welcomed continued moves between the U.S. and North Korea to reduce tensions.
Indian shares snapped five straight weeks of gains due to weak global cues and cautiousness during the second leg of the earnings season. Markets were also overbought after the long rally. The Nifty ended the week lower by 0.69 percent at 10,618, with mid-cap and small-cap indices continuing to underperform.