Global markets update: US stocks fall, investors eye inflation data
1 min read 10 May 2023, 02:27 AM ISTThe S&P 500 falls 0.46% at 4,119.17. The Dow Jones Industrial Average loses 0.17% at 33,561.81. The Nasdaq Composite drops 0.63% at 12,179.55
PremiumUS stocks fell on Tuesday as investors keenly awaited crucial inflation data for more clarity on the Federal Reserve's monetary policy plans.
The consumer price index data for April is due on Wednesday.
The S&P 500 fell 18.95 points, or 0.46%, at 4,119.17. The Dow Jones Industrial Average lost 56.88 points, or 0.17%, at 33,561.81. The Nasdaq Composite dropped 77.36 points, or 0.63%, at 12,179.55.
The US dollar rose to 135.17 Japanese yen from 135.15. The euro fell to $1.0969 from $1.1007.
The yield on 10-year treasuries advanced 2 basis points to 3.53%.
Janet Yellen, US treasury secretary, has warned that the government could hit its debt limit by the start of June.
Canada
The stock index S&P/TSX closed flat on Tuesday.
Europe
European stocks declined on Tuesday after a slew of weak corporate earnings.
The pan-European STOXX 600 index closed 0.3% lower.
Britain’s FTSE 100 fell 0.2% at 7,764.09. In Germany, DAX ended flat. France’s CAC 40 slipped 0.6% at 7,397.17.
Swedish real estate company SBB tanked 24.2% after it said it would halt dividend payments and scrap a planned share issue in the wake of a credit rating cut.
The Bank of England will announce its monetary policy decision on Thursday.
Asia
Asian stock markets mostly fell on Tuesday after data showed a steeper-than-expected drop in Chinese imports.
Hong Kong’s Hang Seng index slipped 2.1% at 19,867.58. In China, Shanghai Composite lost 1.1% at 3,357.67. South Korean benchmark Kospi fell 3.15 points, or 0.13%, to close at 2,510.06.
Japan’s Nikkei 225 gained 1% at 29,242.82.
Australia’s S&P/ASX 200 index fell 0.2% at 7,264.1. New Zealand's benchmark S&P/NZX 50 index dropped 0.4% at 11,889.61.
Oil prices
Brent crude for July delivery gained 43 cents to $77.44 a barrel on Tuesday. US crude oil benchmark for June delivery rose 55 cents to $73.71 a barrel.
Bullion
Gold for June delivery rose $9.70 to $2,042.90 an ounce. Silver for July delivery added 7 cents to $25.90 an ounce.
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