US stocks retreat second session in a row
US markets ended lower on Monday. The dollar rebounded: the live dollar indexdata show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.3% lower at 96.536. Dow Jones industrial average lost 0.2% to 21136.23 led by Wal-Mart and Boeing shares. The S&P 500 lost 0.3% settling at 2429.33 led by consumer discretionary and industrial stocks. The Nasdaq index closed 0.3% lower at 6275.06.
Healthcare shares lead European stocks lowe
European stock indices extended losses on Tuesday amid cautious mood ahead of UK election and European Central Bank meeting on Thursday. The euro and British Pound gained against the dollar. The Stoxx Europe 600 lost 0.7%. Germany’s DAX 30 fell 1% closing at 12690.12. France’s CAC 40 lost 0.7% and UK’s FTSE 100 slipped less than 0.1% to 7524.95.
Asian stocks mixed
Asian stock indicesare mixed today as investors are cautious against the background of heightened political uncertainty ahead of UK election and former FBI director Comey’s testimony on Thursday. Nikkei was little changed closing at 19984.62 as the yen, near a six-week high against the dollar, continued gaining. Chinese stocks are up as some companies sent notices to employees offering to buy shares telling they would compensate them in case losses occur. The Shanghai Composite Index is up 1.2% while the Hong Kong’s Hang Seng Index is down 0.3%. Australia’s All Ordinaries Index was flat as the Australian dollar continued strengthening against the greenback after Q1 GDP recorded 0.3% growth, in line with expectations.
Oil down despite expected US inventory drop
Oil futures prices are edging lower today as the US energy department again raised domestic oil production estimates, intensifying concerns about continued global oversupply. The Energy Information Administration on Tuesday said US output could hit a record 10 million barrels per day next year, up from 9.3 million bpd now. American Petroleum Institute industry group reported yesterday US crude stocks rose 4.6 million barrels last week. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories. August Brent crude closed 1.3% higher at $50.12 a barrel on London’s ICE Futures exchange on Tuesday.