Overnight: US stocks wobbled near break-even with the Dow wiping out the bulk of a 117-point intraday drop, as investors weighed a better-than-expected reading...

Bell Potter
Bell Potter Stockbroker

Overnight: US stocks wobbled near break-even with the Dow wiping out the bulk of a 117-point intraday drop, as investors weighed a better-than-expected reading on the U.S. services sector against lower euro-zone growth forecasts. Treasury prices extended their pullback, propelling the government debt market toward its fourth day of losses in five sessions.Gold futures headed lower. Oil futures fell with concerns over a glut of US crude supplies and growing production pulling prices below $94 a barrel. The negative sentiment across global financial markets weighed on UK stocks. European stock markets fell after the European Commission cut its economic-growth forecast for the euro zone and said it expects unemployment to remain at an all-time high in 2014. London BHP up 1.05%. Rio up 1.25%. New York BHP up 0.43%. Rio up 0.72% LME Base metals pushed slightly higher.

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