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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 lower opening on Tuesday, as traders return to their desks following the long, holiday weekend.
Lingering concerns about global trade are likely to weigh on the markets after U.S. and Canadian officials failed to reach an agreement to reform NAFTA.
President Donald Trump said in a post on Twitter on Saturday that there is ?no political necessity to keep Canada in the new NAFTA deal.?
?If we don?t make a fair deal for the U.S. after decades of abuse, Canada will be out,? Trump tweeted. ?Congress should not interfere w/ these negotiations or I will simply terminate NAFTA entirely & we will be far better off.?
Stocks showed a lack of direction during trading on Friday before ending the session rough flat. The major averages ended the day on opposite sides of the unchanged line.
The major averages ended the session mixed. While the Dow edged down 22.10 points or 0.1 percent to 25,964.82, the S&P 500 inched up 0.39 points or less than a tenth of a percent to 2,901.52 and the Nasdaq rose 21.17 points or 0.3 percent to 8,109.54.
The choppy trading on Wall Street comes after President Donald Trump warned that he could pull the United States out of the World Trade Organization
Trump claimed he would evacuate the international trading group if it doesn't treat the U.S. better, making it the latest agreement to be targeted as part of the president's "America First" trade strategy.
"If they don't shape up, I would withdraw from the WTO," Trump told Bloomberg News in an Oval Office interview on Thursday.
According to Trump, the treaty establishing the trade body was "the single worst trade deal ever made."
Traders also expressed uncertainty ahead of a deadline for U.S. and Canadian officials to reach a new NAFTA agreement.
Most of the major sectors showed only modest moves on the day, contributing to the lackluster performance by the broader markets.
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At 10 am ET, the Institute for Supply Management is scheduled to release its report on activity in the manufacturing sector in the month of August.
The purchasing managers index is expected to dip to 57.7 in August from 58.1 in July, although a reading above 50 would still indicate growth in the manufacturing sector.
The Commerce Department is also due to release its report on construction spending in the month of July at 10 am ET. Construction spending is expected to rise by 0.5 percent. |
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| | Europe |
European stocks are broadly lower on Tuesday as rising trade tensions and a sell-off in emerging market currencies, particularly in Argentina and Turkey, kept investors nervous.
U.S.-China trade tensions remained in focus ahead of looming U.S. tariffs on Chinese imports as early as this week.
Meanwhile, talks between U.S. and Canadian negotiators will resume on Wednesday after they failed to reach an agreement last week.
While the U.K.?s FTSE 100 Index has fallen by 0.5 percent, the German DAX Index and the French CAC 40 Index are down by 1.3 percent and 1.6 percent, respectively.
Banks are moving higher after Fitch Ratings affirmed Italy's triple-B rating on the country's debt and Italy's Deputy Prime Minister Matteo Salvini said the country's 2019 deficit would not breach the limit set by the European Union.
Meanwhile, miners Anglo American, Antofagasta and Glencore have fallen as London copper prices linger near two-week lows.
Dutch banking firm ING Group NV has tumbled after it agreed to pay a fine of 775 million euros to end a money-laundering probe by Dutch authorities.
German wind turbines maker Nordex Group has jumped after winning an order for 99 MW project from Argentina.
French re-insurer Scor has soared after it rejected a friendly takeover offer by Covea.
Advertising giant WPP has slumped in London after it expressed concern about underperforming operations in the United States.
In economic news, U.K. like-for-like sales rose by 0.2 percent year-on-year in August, figures from the British Retail Consortium and KPMG showed. Total sales advanced 1.3 percent annually.
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Asian stocks ended mixed on Tuesday as rising trade tensions and the sell-off in emerging market currencies, particularly in Argentina and Turkey, kept investors in a defensive mode.
China's Shanghai Composite index rallied 29.85 points or 1.1 percent to 2,750.58, while Hong Kong's Hang Seng Index jumped 260.80 points or 0.9 percent to 27,973.34.
Japanese stocks ended flat ahead of U.S.-Canada trade talks as well as the August U.S. jobs data due this week.
The benchmark Nikkei 225 Index ended largely unchanged with a negative bias at 22,696.90, while the broader Topix Index closed 0.1 percent lower at 1,718.24.
Exporters, Canon, Toyota, Panasonic and Honda Motor fell between 0.4 percent and 1.2 percent despite a weaker yen.
In economic news, Japanese companies' capital spending increased the most in more than a decade in April to June period, data from the Finance Ministry revealed.
Capital spending surged up 12.8 percent year-on-year in the June quarter, faster than the 3.4 percent increase a quarter ago. This was the strongest growth since 2007.
Seoul stocks closed higher as foreign investors lapped up large-cap tech and bio companies. The benchmark Kospi recovered from early losses to finish up by 8.69 points or 0.4 percent at 2,315.72.
South Korea's economic growth eased more than initially estimated in the three months ended June, latest figures from Bank of Korea showed today.
GDP grew 0.6 percent sequentially in the second quarter, revised down from 0.7 percent rise seen in the flash report. During the first quarter, the rate of expansion was 1.0 percent.
Australian shares fell modestly as the country's central bank maintained its benchmark interest rate unchanged, as widely expected, and economic reports on manufacturing and current account balance painted a mixed picture of the economy.
The benchmark S&P/ASX 200 index dropped 17.80 points or 0.3 percent to 6,293.10, while the broader All Ordinaries Index ended down 17.60 points or 0.3 percent at 6,398.90.
The big four banks fell between 0.6 percent and 1.4 percent on reports that the Royal Commission inquiry would include superannuation funds, among others.
Whitehaven Coal lost 7.6 percent on going ex-dividend. Gold miner Evolution Mining soared 5.2 percent after it forecast gold output of at least 700,000 troy ounces over the next three years.
Shares of Kogan.com slumped 9 percent after the online retailer's co-founders Ruslan Kogan and David Shafer offloaded A$40 million of the company's shares.
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| | Commodities |
Crude oil futures are spiking $1.35 to $71.15 a barrel after falling $0.45 to $69.80 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,199.20, down $7.50 from the previous session?s close of $1,206.70. On Friday, gold rose $1.70.
On the currency front, the U.S. dollar is trading at 111.25 yen compared to the 111.07 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1566 compared to last Friday?s $1.1619.
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