Fed officials cautious on rate hikes
US stock index futures fell on Tuesday as investors reacted to North Korea’s nuclear test Sunday. Trading was thin as traders returned from Labor Day holiday. The dollar weakened: 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, fell 0.3% to 92.292. The S&P 500 lost 0.8% settling at 2457.85, with eight out of 11 main sectors closing lower. Dow Jones industrial average fell 1.1% closing at 21753.31. The Nasdaq composite index dropped 0.9% to 6375.57.
European markets continue slide
European stock indices closed lower on Tuesday in choppy risk off trade after North Korea nuclear bomb test Sunday. Both the euro and British Pound ended higher against the dollar. The Stoxx Europe 600 fell 0.1%. Germany’s DAX 30 managed to end 0.2% higher closing at 12123.71. France’s CAC 40 lost 0.3% and UK’s FTSE 100 fell 0.5% to 7372.92. Markets opened 0.5%-0.7% higher today.
Asian markets dip
Asian stock indices are lower today tracking Wall Street moves overnight. Nikkei slipped 0.1% to 19357.97 with stronger yen against the dollar hurting exporter stocks. Chinese stocks are lwer: the Shanghai Composite Index is 0.02% down and Hong Kong’s Hang Seng Index is 0.5% lower. Australia’s All Ordinaries Index is down 0.3% despite the weaker Australian dollar against the greenback.
Oil higher as Hurricane Irma approaches US
Oil futures prices are extending gains today. Prices rose Tuesday as refineries impacted by Hurricane Harvey restarted and ramped up operations. Traders are following the Hurricane Irma which is headed towards Caribbean islands and the US. November Brent crude rose 1% to $53.38 a barrel on London’s ICE Futures exchange on Tuesday .