Overnight: US stocks sold off, hit by weak Chinese economic data and mixed US company earnings

Bell Potter


Overnight: US stocks sold off, hit by weak Chinese economic data and mixed US company earnings. Treasury prices rallied after a round of mixed U.S. data, extending gains fuelled by fears of Chinese economic slowdown to push benchmark yields to their lowest closing level since before the Federal Reserve said it would scale back its bond-buying stimulus program. The USD fell against the euro after data showed strength in the euro-zone manufacturing sector, but added to gains against the CAD.Gold prices advanced, snapping a two-day skid, with analysts attributing the move to short covering and a weaker USD. Oil futures rose, as investors shrugged off weak Chinese economic data and awaited the U.S. government's weekly inventory report. London BHP down 0.68%. Rio down 1.16%. New York BHP down 2.40%. Rio down 1.34%. Base metal traded lower

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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