All three main US indices slip
US stock indices pulled back on Tuesday after switching between gains and losses as concerns about possible government shutdown weighed on market sentiment. The dollar weakening halted: 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, rose less than 0.1% to 90.474. The S&P 500 lost 0.4% to 2776 led by energy and materials shares. Dow Jones industrial average slipped less than 0.1% to 25792. The NASDAQ Composite index fell 0.5% to 7223.69. Futures on main US stock indices indicate higher opening today.
Weaker euro lifts European stocks
European stocks advanced on Tuesday led by exporter shares as euro halted its advance against the dollar. The British Pound joined the euro in pullback against the dollar. The Stoxx Europe 600 gained 0.1%. The German DAX 30rose 0.4% to 13246.33. France’s CAC 40 added 0.1% while UK’s FTSE 100 slipped 0.2% to 7755.93. Markets opened mixed today.
Asian stocks lower
Asian stock indices are mostly lower today. Nikkei fell 0.4% to 23850 with resumed yen strengthening against the dollar. Chinese stocks are higher despite a government crackdown on shadow banking: the Shanghai Composite Index is up 0.3% while Hong Kong’s Hang Seng Index is 0.1% lower. Australia’s ASX All Ordinaries is down 0.5% with Australian dollar steady against the greenback.
Oil falls
Oil futures prices are retreating today on concerns prices are overstretched after more than 13% gain over the past month. The Energy Information Administration will release its US inventory data on Thursday, a day later than usual because of Monday’s Martin Luther King Jr. holiday. Trade group the American Petroleum Institute will release its own figures late today. Prices fell Tuesday: March Brent lost 1.6% to $69.15 a barrel Tuesday.