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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | | The major U.S. index futures are pointing to a roughly flat opening on Tuesday following the modest strength seen in the previous session.
Traders may remain reluctant to make any significant moves amid another quiet day on the U.S. economic front.
The economic calendar remains relatively quiet throughout the week, although reports on weekly jobless claims, wholesale inventories and consumer sentiment may attract attention in the coming days.
Stocks moved mostly higher during trading on Monday, although trading activity was somewhat subdued. With the upward move on the day, the major averages reached new record closing highs.
The Dow inched up 9.23 points or less than a tenth of a percent to 23,548.42, the Nasdaq rose 22.00 points or 0.3 percent to 6,786.44 and the S&P 500 crept up 3.29 points or 0.1 percent to 2,591.13.
The strength on Wall Street reflected recent upward momentum amid optimism about the economy and the likelihood of passage of the republican tax reform plan.
Energy stocks showed a strong move to the upside as the price of crude oil for December delivery moved sharply higher on the day.
Reflecting the strength in the energy sector, the NYSE Arca Natural Gas and the Philadelphia Oil Service Index surged up by 4.1 and 4.9 percent, respectively.
Significant strength was also visible among gold, steel and electronic storage stocks, while biotechnology stocks showed a notable move to the downside. |
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| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | The Treasury Department is scheduled to announce the results of its auction of $24 billion worth of three-year notes at 1 pm ET.
At 3pm ET, Federal Reserve Chair Janet Yellen is due to give acceptance remarks at the "Presentation of the Paul H. Douglas Award for Ethics in Government" in Washington.
The Fed is also scheduled to release its report on consumer credit in the month of September at 3 pm ET. Consumer credit is expected to increase by $18.0 billion. |
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| | Europe markets | | European stocks are turning in a lackluster performance on Tuesday even as banks have gained ground on growth optimism after ECB President Mario Draghi said there is little evidence that negative rates are undermining banking profitability.
While the U.K.’s FTSE 100 Index is down by 0.3 percent, the French CAC 40 Index is down by 0.1 percent and the German DAX Index is just below the unchanged line.
French lender Credit Agricole has rallied after it agreed to buy Italy's wealth-management specialist Banca Leonardo SpA for an undisclosed amount.
Mining stocks have also moved broadly higher, with Anglo American and Antofagasta rising over 1 percent each.
Imperial Brands has surged higher after the tobacco group reported an increase in annual revenues on the back of favorable currency movements.
Fevertree shares have also soared after the fizzy mixer drinks maker said it expects full-year results to be "materially ahead" of current market expectations.
On the other hand, Swiss staffing firm Adecco Group has moved to the downside after reporting disappointing third quarter earnings.
Spanish utility Iberdrola has also come under pressure after its core profit for the first nine months of the year declined 5 percent.
German automaker BMW has moved to the downside after posting a lower third quarter profit due to higher expenses for research and development.
In economic news, German industrial output fell 1.6 percent in September, in contrast to August’s 2.6 percent increase, official data showed. Economists forecast production to drop 0.8 percent.
Separately, the latest report from the British Retail Consortium showed that U.K. retail sales fell the most in seven months in October. Eurozone retail sales figures for September topped forecasts. |
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| | Asia markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | Asian stocks finished mostly higher on Tuesday after the major U.S. averages hit fresh record closing highs overnight, boosted by rallying oil prices and corporate deal making news.
Higher commodity prices, including the overnight surge in crude oil prices after a purge of the royal family's political rivals in Saudi Arabia helped investors shrug off U.S. President Donald Trump's fiery rhetoric on North Korea and uncertainties related to proposed U.S. tax reform.
Chinese shares hit a two-year high, with banking and energy firms leading the surge on optimism over global growth. The benchmark Shanghai Composite Index climbed 26.97 points or 0.8 percent to finish at 3,415.14, while Hong Kong's Hang Seng Index jumped 397.54 points or 1.4 percent to 28,994.34.
Japanese shares rose for a fourth straight session to end at their highest level in more than 25 years, with a weaker yen and optimism over corporate earnings buoying investor sentiment. The Nikkei 225 Index surged up 389.25 points or 1.7 percent to 22,937.60, its highest level since January of 1992. The broader Topix Index closed 1.2 percent higher at 1,813.29.
Inpex Corp jumped 3.7 percent and Japan Petroleum Exploration soared 6 percent amid the rally in oil and other commodities. Mitsubishi Estate rallied 3.9 percent after the realty firm raised its net profit outlook.
Australian shares rallied sharply to finish near 10-year highs, with mining and energy stocks leading the way higher after Brent crude and iron ore prices surged overnight.
The benchmark S&P/ASX 200 Index advanced 60.50 points or 1 percent to 6,014.30, marking its biggest intra-day gain in more than a month. The broader All Ordinaries Index also gained 1 percent to end at 6,087.40.
Oil majors Oil Search, Woodside Petroleum, Santos and Beach Energy climbed 3-6 percent, while miners Rio Tinto, BHP Billiton and Fortescue Metals Group jumped 2-5 percent. Gold miners Northern Star, Newcrest and Evolution Mining rose 1-2 percent.
Investors largely shrugged off disappointing consumer confidence and construction data as well as the Reserve Bank's widely expected decision to keep its cash rate at a record low of 1.5 percent. |
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| | Commodity, Currency Markets | | Crude oil futures are slipping $0.03 to $57.32 a barrel after spiking $1.71 to $57.35 a barrel on Monday. Meanwhile, after climbing $12.40 to $1,281.60 an ounce in the previous session, gold futures are falling $3.40 to $1,278.20 an ounce.
On the currency front, the U.S. dollar is trading at 114.15 yen compared to the 113.71 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued $1.1563 compared to yesterday’s $1.1610. |
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