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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 higher opening on Tuesday, with stocks likely to extend the upward move seen in the previous session.
Stocks may benefit from optimism about looming trade talks between the U.S. and China even though President Donald Trump said he doesn't expect much progress from the talks.
Trading activity is likely to be relatively subdued, however, with a lack of U.S. economic data likely to keep traders on the sidelines.
In the coming days, trading may be impacted by reaction to reports on new and existing home sales and durable goods orders as well as the release of the minutes of the latest Federal Reserve meeting.
After initially showing a lack of direction, stocks moved mostly higher over the course of the trading session on Monday. Buying interest was somewhat subdued, however, limiting the upside for the major averages.
The major averages all ended the day in positive territory. The Dow climbed 89.37 points or 0.4 percent to 25,758.69, the Nasdaq inched up 4.68 points or 0.1 percent to 7,821.01 and the S&P 500 rose 6.92 points or 0.2 percent to 2,857.05.
The strength on Wall Street came as traders seemed to be expressing optimism about upcoming trade talks between the U.S. and China.
Last Friday, a report from the Wall Street Journal said Chinese and U.S. negotiators are drawing up a road map for talks to try to end their trade impasse.
Citing officials in both nations, the Journal indicated the plan would culminate in planned meetings between President Donald Trump and Chinese leader Xi Jinping at multilateral summits in November.
The report came following news that China accepted an invitation from the U.S. for a new round of trade talks to be held later this month.
China's Ministry of Commerce said that a Chinese delegation led by Vice Commerce Minister Wang Shouwen will travel to the U.S. for trade talks to be held with U.S. Under Secretary of Treasury for International Affairs David Malpass.
The Journal said the U.S.-China trade talks in Washington would take place on August 21st and 22nd, just before the next round of tariffs targeting $16 billion worth of goods on both sides kick in on August 23rd.
Buying interest waned shortly after the open, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
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| | Europe |
European stocks are mostly higher on Tuesday as investors shrug off U.S. President Donald Trump's remarks lamenting the Federal Reserve's interest rate increases.
The dollar has fallen against the euro and pound after Trump accused China and Europe of manipulating their currencies and criticized the Fed for raising interest rates.
Investors also await the outcome of trade talks between the United States and China, a day after Trump said he doesn't expect much progress from the talks.
While the U.K.?s FTSE 100 Index is just above the unchanged line, the German DAX Index is up by 0.7 percent and the French CAC 40 Index is up by 0.8 percent.
Nokia has advanced after announcing licensing rate expectations for 5G mobile phones.
Russian mining company Polymetal has also moved higher after posting solid first-half earnings results.
Oilfield services firm Wood Group has jumped after its first-half profit came in at the higher end of its forecast on increased revenues.
Meanwhile, BHP Billiton has fallen in London. After reporting a 33 percent rise in full-year underlying profit, the company said it was "a little more apprehensive" on the short-term outlook. |
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Tuesday after U.S. President Donald Trump said he doesn't expect much progress from trade talks with China this week in Washington.
Trump also accused China and Europe of manipulating their currencies and said he was "not thrilled" with the Federal Reserve for raising interest rates.
His comments dented some of the market optimism ahead of lower-level trade talks between the U.S. and China starting later today.
Investors also looked ahead to the release of the FOMC meeting minutes on Wednesday and a meeting of central bankers at the Kansas City Fed's Jackson Hole symposium later this week.
Chinese shares posted strong gains as consumer and healthcare firms attracted bargain hunters after recent heavy losses.
The benchmark Shanghai Composite Index jumped 35.36 points or 1.3 percent to 2,733.83, while Hong Kong's Hang Seng Index rose 154.77 points or 0.6 percent to 27,752.79.
Japanese shares ended little changed with a positive bias and the yen was flat as investors waited for the outcome of trade talks between the U.S. and China.
The Nikkei 225 Index finished marginally higher at 22,219.73, while the broader Topix index shed 0.4 percent to close at 1,685.42. Shipping firms, electronics makers and auto companies were among the prominent decliners.
Australian shares tumbled, with material stocks pacing the declines after BHP Billiton's full-year underlying profit came in below analysts' estimates.
The benchmark S&P/ASX 200 Index slumped 60.60 points or 1 percent to 6,284.40, while the broader All Ordinaries Index ended down 52.10 points or 0.8 percent at 6,383.
BHP Billiton declined 1.9 percent. After reporting a 33 percent rise in full-year underlying profit, the company said it was "a little more apprehensive" on the short-term outlook. Shares of rival Rio Tinto shed half a percent.
Energy stocks also fell broadly, with Oil Search losing 2.4 percent after it reported a near 40 percent fall in half-year profit, hurt by higher costs and lower output.
The big four banks fell 1-2 percent. Woolworths Group, Australia's biggest grocer, gave up 2.4 percent to extend Monday's losses after reporting a "painful" sales slowdown due to the plastic bag ban.
On the economic front, minutes from the Reserve Bank of Australia's August 7 meeting revealed today that members of the monetary policy board were satisfied with the pace of expansion in the global economy.
However, the members said that erratic United States trade policies represented a major downside risk.
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| | Commodities |
Crude oil futures are climbing $0.79 to $67.22 barrel after rising $0.52 to $66.43 a barrel on Monday. Meanwhile, after jumping $10.40 to $1,194.60 an ounce in the previous session, gold futures are up $2.10 at $1,196.70 an ounce.
On the currency front, the U.S. dollar is trading at 110.36 yen compared to the 110.07 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1508 compared to yesterday?s $1.1482.
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