In European Equity Markets stocks closed lower on Tuesday as market participants anxiously waited for details from the latest round of U.S.-China trade talks. The pan-European Stoxx 600 was down 0.2 percent at the closing bell, with most major bourses in negative territory. Europe’s banking index led the losses, down 1 percent amid earnings news. HSBC was the worst sector performer, after reporting disappointing annual profit figures on Tuesday. Shares of the London-listed stock were 4 percent lower at the end of the session.

 

In Currency Markets the U.S. dollar on Tuesday fell against a basket of other currencies as traders scaled back their safe-haven greenback holdings on optimism that a fresh round of talks between China and the United States would help resolve their trade conflict. The ICE index, which tracks the dollar against six other major currencies, was down 0.25 percent at 96.657. On Friday, it hit 97.368, which was the highest since Dec. 17. The euro was up 0.2 percent at $1.13350 , holding above a three-month low of $1.1234 set last week.

 

In Commodities Markets oil fell from its 2019 high of almost $67 a barrel on Tuesday as concerns about the progress of U.S.-China trade talks and slowing economic growth countered lower supplies. Supply cuts led by the Organization of the Petroleum Exporting Countries have helped crude to rise more than 20 percent this year, although demand-side worries remain the main drag on the market. Brent crude fell 64 cents to $65.86 a barrel, having reached a 2019 high of $66.83 on Monday. U.S. crude was down 26 cents at $55.33.

 

In US Equity Markets stocks struggled for direction on Tuesday as gains in Walmart offset losses in financials, with trade talks between the United States and China in focus. The consumer staples sector rose 0.53 percent, the most among the 11 major S&P sectors, helped by a 3.8 percent rise in shares of Walmart Inc. Shares of fellow retailers were also higher, with Costco Wholesale Corp gaining 1.2 percent and Target Corp 1.6 percent. The S&P 500 was up 0.02 percent, at 2,776.10 and the Nasdaq Composite rose 0.16 percent, at 7,484.60.

 

In Bond Markets Treasury yields fell on Tuesday morning as trade talks between the United States and China neared their March 1 deadline and ahead of the release of minutes from the Federal Reserve’s January policy-setting meeting. Yields were down between 2 and 3 basis points, with yields on the shorter end of maturities falling faster than those on the longer end, steepening the yield curve modestly. Two-year yields, were 2.4 basis points lower, last at 2.496 percent, suggesting investors expect the minutes to reaffirm a slower pace of rate hikes.

User Auto Log Out 3 Hours Register |