European shares climbed back to a four-year high on Tuesday as positive German investor sentiment data and a slew of upbeat earnings lifted the mood, but Spanish stocks lagged after socialist and far-left parties joined forces to form a coalition.
The UKs benchmark FTSE 100 closed up by 0.50 percent, Germanys Dax ended up by 0.65 percent, and France’s CAC finished the down by 0.44 percent.
The S&P 500 and Nasdaq indexes rose to record highs on Tuesday as trade-sensitive technology stocks gained ahead of a much-awaited speech by President Donald Trump, which was likely to provide some clarity on the U.S.-China tariff talks.
At (GMT 20:21),Dow Jones was up by 0.08 percent, S&P 500 was up 0.04 percent, Nasdaq was up by 0.10 percent.
Treasuries Recap
U.S. Treasury yields held just below three-month highs on Tuesday as investors waited on a speech by U.S. President Donald Trump for new indications on how close the United States and China are to agreeing to the first phase of a trade deal.
Benchmark 10-year notes were last up 1/32 in price to yield 1.931%. The yields rose to 1.973% on Thursday on optimism a trade deal would be reached, which was the highest since August 1.
Commodities Recap
Gold slipped on Tuesday to its lowest in more than three months on increased appetite for riskier assets, while U.S. President Donald Trump failed to provide any information on the trade deal with China in his speech.
Spot gold slipped 0.1% to $1,453.70 per ounce as of 1:47 p.m. EST (1847 GMT), having touched its lowest since Aug. 5 earlier.U.S. gold futures settled down 0.2% at $1,453.70 per ounce.
Oil prices ended Tuesday little changed after paring gains of about 1% following a speech from U.S. President Donald Trump that offered few new details about Washington’s trade talks with Beijing.
Brent crude futures ended the session down 12 cents at $62.06 a barrel after trading between $62.85 and $61.82. West Texas Intermediate (WTI) crude futures settled down 6 cents at $56.80 a barrel.
Market Events
• Feds Powell to speak on Wednesday
• Gold on track for fourth straight daily decline
• CPI, retail sales data due this week
• US Redbook (MoM) 0.1%,0.3% previous
• US Redbook (YoY) 5.0%, 5.5% previous
Looking Ahead – Economic Data (GMT)
• 21:45 New Zealand Oct FPI (Mom) 0.0% previous
• 23:30 Australia Nov Westpac Consumer Sentiment -5.5% previous
• 23:50 Japan Oct PPI (YoY) -0.3% forecast , -1.1% previous
• 23:50 Japan Oct PPI (MoM) 1.2% forecast, -0.3% previous
• 00:30 Australia Wage Price Index (YoY) (Q3) 2.3% forecast, 2.3% previous
• 00:30 Australia Wage Price Index (QoQ) (Q3) 0.5%,0.6% previous
• 01:00 New Zealand RBNZ Interest Rate Decision 0.75%,1.00% previous
Looking Ahead – Events, Other Releases (GMT)
• 01:00 New Zealand RBNZ Monetary Policy Statement
• 01:00 New Zealand RBNZ Rate Statement
• 02:00 New Zealand RBNZ Press Conference
