Global Market Update

Advisory Bazaar Info Services

US equity markets settled lower in range 0.87% to 1.32%.

European equity markets ended on a flat to negative note.

Majority of Asian equity markets are trading higher.

Sensex- Nifty is trading up by 45-10 points.

Oil prices are on track for a strong weekly gain as the US prepares fresh economic measures against Iran, raising concerns that further disruption to energy supplies could tighten an already strained global market. Brent crude traded above $93 a barrel on Friday and was heading for a weekly rise of more than 5%. West Texas Intermediate for October delivery eased towards $86 a barrel, but remained on track to extend a five-session winning streak.

The three main U.S. equity indexes closed lower on Thursday as rising Treasury yields dented risk appetite while disappointing results from retail bellwether Walmart soured investors on the consumer sector and rallying oil prices fanned inflation worries.

Most Asian equity markets are trading higher on Friday despite stress in global bond markets showed little sign of abating, while a diplomatic deadlock in the Gulf lifted oil prices to one-month highs and kept inflation risks to the fore.

Oil was set for a big weekly gain as a US push to cut off Iran’s economy stoked fears of more market disruption. Brent traded above $93 a barrel.