Overnight: The US stock market fell, with the S&P 500 retreating from record levels, as disappointing earnings from Best Buy and Citigroup dented sentiment

Bell Potter

Stockbroker

Overnight: The US stock market fell, with the S&P 500 retreating from record levels, as disappointing earnings from Best Buy and Citigroup dented sentiment. Treasury prices climbed after data showed that inflation remained subdued, & market experts began to point to the slow increase in costs as one factor that could keep a lid on interest rates as the economy improves. Gold futures settled higher as a decline in US equities and weakness in the dollar helped prices score for their first gain in three sessions. Oil futures wobbled near the break-even mark. Mining firms led U.K. stocks higher after on upbeat analyst call on the sector. Citigroup moved its 12-month stance on the mining sector to bullish from neutral, marking the first upbeat call in three years. After a four-day winning run, European stock markets retreated. LondonBHP up 3.82%.Rio up 2.47%. NewYorkBHP up 2.69%. Rio up 3.51% Base metal traded mixed


Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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