OPENING CALL: The Australian share market is expected to open flat. The SPI200 futures contract expected to open up 2 points.
U.S. and Chinese trade negotiators are laying the groundwork for a delay of a fresh round of tariffs set to kick in Dec. 15, though President Trump hasn’t yet decided and has overridden his advisers on trade several times to add tariffs.
Saudi Arabia still hopes to attract the foreign capital it failed to draw with its record-breaking domestic IPO.
Overnight Summary
Each Market in Focus
Australian shares snapped a three-session run higher, sinking along with most markets in the Asia-Pacific. Finishing near the session low, the S&P/ASX 200 fell 0.3% to 6706.9.
Only the materials subindex logged a gain, rising 0.5% thanks to advances by big miners BHP, Rio Tinto and fellow iron-ore producer Fortescue Metals.
U.S. stocks drifted around the flatline intraday, paring earlier losses after Democratic lawmakers reached an agreement with the Trump administration to support a trade deal with Mexico and Canada.
The Dow Jones Industrial Average fell 27 points, or 0.1%, to 27882. The S&P 500 lost less than 0.1% and the Nasdaq Composite edged up 0.1%.
Tuesday’s trading day started off relatively quietly, even as a flurry of news caught traders’ and analysts’ attention. Stock futures had initially climbed after The Wall Street Journal reported that U.S. and Chinese trade negotiators were looking to delay a fresh round of tariffs.
The British pound climbed, with the U.K. currency extending gains on the expectation the Conservatives will win a majority in Parliament during the general election on Thursday.
The pound changed hands at $1.3171 from $1.3143 on Monday. It’s gained over 6% against the U.S. dollar over the last 3 months.
The Stoxx Europe 600 falls 0.3%, the FTSE 100 drops 0.3%, the DAX sheds 0.3% and the IBEX 35 declines 0.4% while the CAC-40 rises 0.2% and the FTSE MIB gains 0.7%.
European stocks are mostly in the red but off from lows seen earlier in Tuesday’s session as traders are less fearful of the U.S. imposing fresh tariffs on Chinese goods.
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