Overnight Update: US stocks edged lower but struggled for direction as a report on home prices showed a dip in December

Overnight Update: US stocks edged lower but struggled for direction as a report on home prices showed a dip in December. The US consumer confidence index dropped by more than expected. Treasury prices rose. The dollar fell against the Japanese yen. Gold futures held their ground at the four-month high they closed at a day earlier. Oil futures dropped, pressured by expectations that this week's data will show a further rise in US crude inventories and concerns that an economic slowdown in China may dull the outlook for energy demand. Miners drove the FTSE 100 index to its first loss in eight days as metals prices weakened. European stock markets fell from a six-year closing high, with mining firms sliding as metals prices weakened. London: BHP down 1.61% Rio down 2.76% New York: BHP down 1.61% Rio down 3.17%. Base metal prices traded lower.