As markets price another Fed hike, US Treasury Secretary Scott Bessent struck a gentler tone, arguing that productivity gains from AI and deregulation could help contain inflation. His case revives a 1990s-style debate over whether technology lets an economy grow faster without overheating.
The Bank of Japan could raise rates for a second straight month in October, earlier than many economists expect, according to a Bloomberg report. September's hike, opposed by two board members, came as the Fed and ECB also tightened, the first synchronised move of its kind.
Dow and S&P 500 futures slipped about 0.3% on Monday morning as traders weighed the odds of a US–Iran deal. The week brings the Fed's preferred inflation gauge, the jobs report and Nike's earnings, with Treasury yields above 5% setting a high bar for stocks.
Most Asian markets fell on Monday as elevated energy costs and bets on more US rate hikes weighed on sentiment. South Korea's Kospi dropped about 2% and China's CSI 300 1.24%, as data showed Chinese industrial profit growth slowing to its weakest this year.
Brent crude climbed more than 1% on Monday after Washington rejected Iran's plan to reopen the Strait of Hormuz, reversing part of Friday's drop. Gold and silver futures fell 1.77% and 2.92% as markets priced further interest-rate increases.
A day after rejecting Tehran's seven-day plan to reopen the Strait of Hormuz, President Trump said he expects more talks with Iran this week. Qatari mediators have put a compromise to both sides, but the gap between Iran's focus on the blockade and Washington's nuclear demands remains wide.
India's primary market stays busy despite a weak secondary market. SRIT India's ₹218 crore and Shah Investor's Home's ₹90 crore IPOs open today, Moneyview's ₹1,092 crore issue enters its final day, and Snapdeal parent AceVector continues bidding.
Foreign investors sold ₹3,694 crore on Friday, taking September outflows to ₹17,131 crore and 2026 selling past ₹2.41 lakh crore. With the Nifty down seven straight weeks and GIFT Nifty pointing lower, markets enter a four-day week on edge.
Indian startups raised $203.4 million across 21 deals in the week to 25 September, up 3.4 times from the prior week. Ultraviolette's $85 million and Ema's $77 million led, while five AI startups together raised $89.3 million.
India cut import duty on sunflower oil by 11 percentage points ahead of the festive season, double the reduction for palm and soybean oil. With Russia supplying a growing share and earning $1.17 billion from India this year, the move adds to Delhi's balancing act with Moscow and Washington.