Overnight: US stocks advanced, putting the S&P 500 and Dow industrials on pace to snap a three-day losing streak, with some traders attributing the move to...

Bell Potter

Overnight: US stocks advanced, putting the S&P 500 and Dow industrials on pace to snap a three-day losing streak, with some traders attributing the move to news of progress toward a US budget deal. Strong ADP jobs data pushed Treasury yields up to their highest levels since mid-September, as improving economic data added to investor fears that the Federal Reserve could winddown its stimulative bond-buying program earlier than expected. Gold prices traded higher and oil futures climbed after US government data showed that crude supplies fell for the first time in 11 weeks. Standard Chartered PLC led the FTSE100 index lower after disappointing comments on full-year profit, while the broader market tracked losses in the rest of Europe, where fears of tapering in the US dented the investing mood. London BHP up 0.94%. Rio up 1.95%. New York BHP up 0.32%. Rio up 1.95% LME Base metals pushed higher across the complex.


Bell Potter

Bell Potter is a member of the Bell Financial Group (BFG) of companies. We are one of Australia's largest full service stockbrokers and a leading financial advisory firm, offering a full range of services to private, corporate and institutional...

Expertise

Comments

Please sign in to comment on this wire.