Overnight: US stocks mostly tacked on modest gains after an industrial-production reading beat expectations but a pending-home-sales gauge missed forecasts

Bell Potter
Bell Potter Stockbroker

Overnight: US stocks mostly tacked on modest gains after an industrial-production reading beat expectations but a pending-home-sales gauge missed forecasts. Treasury prices held slightly higher on the day after an auction of 2-year notes and a round of mixed data, continuing to trade a tight range ahead of further supply this week. The dollar inched up slightly against some rivals but gains could be limited as some analysts forecast downside risk for the USD ahead of an expected continuation of the Federal Reserve's monthly bond purchases. Gold futures settled with a loss on Monday and Oil futures traded higher, but held their ground below $99 a barrel. The UK's FTSE climbed for a third straight day and after a string of three weekly gains, European stock markets pulled lower. London BHP down 0.77%. Rio down 0.18%. New York BHP up 0.25%. Rio down 0.88%. LME Base metals turned higher.

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