The Hindu Business Line : Pointers

The bulk of the first quarter results have been absorbed, discounted and drooled over. The progress of monsoons might attract the market's attention next week, now that the pre-occupation with results will be on the decline.

The conflict in West Asia between Israel and Hezbollah has been currently relegated to the back ground by the equity markets. The resolution of the conflict, cease-fire or escalation of the conflict has the potential to give fresh impetus to or derail any fledgling rally in the equity markets across the world.

The US markets will of course be focused on the Federal Reserve's policy-making meeting scheduled on August 8. The US markets are right now exulting in data showing that their economy is slowing down as that would result in the Federal Reserve bringing its interest rate-hiking spree to an end.

The jobs data and other economic reports scheduled to be released next week would be closely scrutinised for further indications of economic slow down and that will give a fillip to the equity markets.

It would, of course, be crude prices that would have the final say with their devastating effect on the inflation in economies across the globe.

Lokeshwarri S.K.

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