Stocks Struggle as Trade Concerns Linger; Oil Dips
May 07, 2019 @ 12:38 +03:00
Stocks struggled for traction globally on Tuesday as a slew of trade headlines continued to buffet markets. The dollar was steady as Treasury yields edged higher.
The Stoxx Europe 600 Index fluctuated in a narrow range as gains for real-estate companies offset declines for banks and car makers. Futures on the S&P 500 fell even as China confirmed its vice premier would attend trade talks in Washington this week. Korean and Japanese shares slid as both markets reopened after holidays, while stocks in Shanghai and Hong Kong advanced. The euro pared a gain after German factory orders rebounded less than economists’ forecasts in March.
Investor sentiment remains fragile as traders wait for the next development in the trade dispute between the world’s two biggest economies. China’s government confirmed Tuesday that Vice Premier Liu He would visit the the U.S. for trade talks on May 9 and 10, after American Trade Representative Robert Lighthizer told reporters Monday the Trump administration still plans to increase duties on imports from the Asian nation.
West Texas Intermediate crude dipped 0.2 percent to $62.14 a barrel. The yield on 10-year Treasuries advanced one basis point to 2.48 percent. Futures on the S&P 500 Index fell 0.4 percent. The U.K.’s FTSE 100 Index fell 0.2 percent.
Stocks Struggle as Trade Concerns Linger; Oil Dips, Bloomberg, May 07