Upbeat housing data spurred US indices to a new high for the year on Friday. There is a spring in the step of the bulls, if last week’s gains in the US market are any indication. A string of economic reports last week in the US and elsewhere, seems to suggest that a recovery may not remain elusive for too long.
A whole host of data is due this week too, especially in the US. Global markets will continue to dance to the tune and tone set by these reports. Next week, we will have India’s first quarter GDP numbers.
The monsoon has made a comeback of sorts after a long and painful break. This recovery should continue for at least another month to undo some of the damage to the agri-economy.
