The benchmark S&P 500 hit a record high for a fourth straight session, building on its 27% gain this year, which has been driven by progress toward a U.S.-China trade agreement, a dovish Federal Reserve and upbeat economic indicators.
The commerce department releases key figures on gross domestic product, inflation, personal income and spending, trade and new-home sales, much of which are closely watched by investors and policymakers.
Here are top cues from domestic as well as international markets which could have a bearing on D-Street
Tracking global cues as well as cautious stance ahead of key exit polls data, the Street may see tepid opening. Wockhardt will be on investors‘ radar following the warning letter issued by US FDA for its US plant.
Global markets end lower ahead of US President-Elect Donald Trump's inauguration as investors remain cautious of the leader's policies; Axis Bank, Yes Bank to remain in focus after the banks posted diverse set of earnings on Thursday
Early trades in Asian markets showed positive trade, while the US and European markets ended largely higher; Axis Bank, Yes Bank and Federal Bank will announce their quarterly results; slippages eyed
Gold prices drifted lower by Rs 90 to Rs 27,860 per 10 grams today, tracking a weak trend in global market and a fall in demand from local jewellers due to scarcity of funds.
In the interview, Fischer said that Yellen's comments were consistent with a September rate hike and possibly two hikes this year, but the Fed won't know the course of normalization until it sees the data.
FPIs turned net buyers of equities in March after pulling out a massive Rs 41,661 crore from the market in the previous four months (November to February).
The results were bang in line with market expectations and suggested that the government's target range of 6.5 to 7 percent growth for 2016 was feasible as long as officials continued using their vast policy toolbox to stimulate the economy.
In other asset classes, crude prices extended a surge on hopes that a global oversupply may be approaching a tipping point after nearly two years. The gold prices gained to USD 1250 an ounce.
Reports on the housing market could also draw investors' attention given recent sharp gains in homebuilder stocks.
Investors would be keenly watching the Fed decision because there are no clear signs of improvement in US economic data US as yet, says Manish Kabra of Bank of America Merrill Lynch.
Spot gold reached a peak of USD 1,169.00 an ounce and was up 0.6 percent at USD 1,163.96 an ounce at 1401 GMT, while U.S. gold futures for December delivery settled up USD 8.60 an ounce at USD 1,164.50.
The focus will no doubt be on China â€“ which is due to publish September trade numbers on Tuesday, foreign direct investment figures on Wednesday as well as consumer and producer inflation data on Thursday.
The ministry in its statement on May 29, 2015 had said that the June quarter GDP data will be released on August 28.
Nick Parsons of National Australia Bank says European bond yields have calmed for now. But volatility is not far away either. He believes any unexpected data can trigger volatility.
Prime Minister Narendra Modi came to power in May last year, winning the first outright parliamentary majority in 30 years with a promise to reboot economic growth and tamp down inflation.
The Mexican peso slumped to all-time record lows at 15.6658 per dollar this week as stellar U.S. employment figures last week stoked expectations that the Federal Reserve would hike rates sooner rather than later, sparking a broad dollar rally.
Yellen will likely give away little in her prepared testimony for the Senate Banking Committee on Tuesday, and the House Financial Services Committee on Wednesday.
After a slew of gloomy economic data, the People's Bank of China (PBOC) cut banks' reserve requirement ratios (RRR) by 50 basis points on Wednesday, freeing up an estimated 600 billion yuan (USD 96 billion) into the money supply.
The single currency fell as low as USD 1.17625 on Thursday, its lowest since December 2005 and dangerously close to the USD 1.1747 level at which it traded at its launch in January 16 years ago.
Globally, the US markets ended marginally higher on upbeat economic data and strong earnings from Walmart. European market too ended in the green while Asian market is mixed in morning trade.
China kicks off the data release with inflation indicators for the month of October due on Monday, followed by fixed asset investment (FAI), retail sales and industrial output for the same month on Thursday.
According to Sanger, there is surplus liquidity in the world and scarcity of growth and India is the only bright spot. Its GDP is expected to move from 5 percent to 6.5 percent in the next few years. He says the outlook for India has improved in past few months.