Dow snaps six-session winning streak
|Dollar weakening resumed on slowing wholesale inflation
US stock market ended marginally lower on Tuesday as China’s foreign ministry said it would respond firmly if the US insisted on escalating its standoff with China. The S&P 500 slid 0.03% to 2885.72. Dow Jones industrial edged down 0.05% to 26048.51. The Nasdaq slipped 0.01% to 7822.57. The dollar weakening resumed as data showed the increase in wholesale prices over the past year slowed to 1.8% from 2.2% in April. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.1% to 96.71 and is lower currently. Futures on US stock indices point to lower openings today.
DAX 30 outperforms European indexes
European stocks recovery accelerated on Tuesday led by basic resources shares. Both the EUR/USD andGBP/USD turned higher and are climbing currently. The Stoxx Europe 600 ended 0.7% higher. The German DAX 30 rose 0.9% to 12155.81. France’s CAC 40 gained 0.5%. UK’s FTSE 100 added 0.3% to 7398.45 as data showed wages in the three months to April beat forecasts while the jobless rate held at its lowest rate since 1975.
Hang Seng leads Asian indexes retreat
Asian stock indices are mostly lower today after President Trump’s comment he had “no interest” in a deal unless China agrees to terms it had previously agreed upon . Nikkei lost 0.4% to 21129.72 with yen resuming its climb against the dollar. Chinese stocks are falling despite report China's consumer inflation hit 15-month high in May: the Shanghai Composite Index is down 0.6% while Hong Kong’s Hang Seng index is 2% lower. Australia’s All Ordinaries Index pulled back 0.04% with Australian dollar accelerating its decline against the greenback.
Brent down on expected US inventories build
Brent futures prices are edging lower today. The American Petroleum Institute late Tuesday report indicated US crude inventories rose by 4.9 million barrels last week. Prices fell yesterday. Prices of August Brent ended down 1.5% at $61.35 a barrel on Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.