Overnight Update: The US stock market rose modestly on Tuesday after a drop in factory orders during December was smaller than economists had expected
Overnight Update: The US stock market rose modestly on Tuesday after a drop in factory orders during December was smaller than economists had expected. The main indexes rebounded from their worst declines since June a day earlier, which were sparked by disappointing manufacturing data that stoked fears over a possible slowdown in the economy. Treasury prices fell, sending yields higher after data on factory orders, as investor concern over the strength of the US economy intensified. Gold prices traded lower. The US dollar rebounded against the yen, while the AUD jumped after Australia's central bank indicated it's no longer leaning toward cutting interest rates. Natural gas prices jumped by nearly 7%. London: BHP -0.40% Rio +0.65%. New York: BHP +1.4% Rio +2.38%. Base metal prices made a modest recovery.
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