NEW YORK/LONDON: World stock markets stabilized on Tuesday and oil prices rose a day after heavy selling of risk assets, as investors assessed the level of contagion stemming from the crisis at developer China Evergrande and central bank meetings. waited for
The .MIWD00000PUS gauge of MSCI shares across the globe rose 0.13% after Monday’s biggest percentage drop in two months. Wall Street’s main indices ended mixed after solid equities progress in Europe.
The volatility in the prices of bonds and currencies remained relatively low. Safe-haven assets bid adieu to investors on Monday. Gold rose again on Tuesday in a sign of caution from investors.
Investors were focused on Evergrande’s situation, where persistent default fears eclipsed confidence-building efforts by the debt-ridden conglomerate’s chairman as Beijing showed no signs it was doing so to stem any domino effect in the global economy. will intervene.
“Some investors are willing to step back after a huge setback yesterday,” said Chuck Carlson, chief executive officer of Horizon Investment Services in Hammond, Indiana.
“The idea that[Evergrande]was probably ‘implicit’ has probably gained a bit of steam today.”
On Wall Street, the Dow Jones Industrial Average. The DJI fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 .SPX fell 3.54 points, or 0.08%, to 4,354.19, and the Nasdaq Composite .IXIC added 32.50 points, or 0.22%. , to 14,746.40.
The Cboe Volatility Index .VIX fell 1.35 points to 24.36 after hitting a four-month high a day earlier.
The Pan-European STOXX 600 Index .STOXX is up 1%, Germany’s DAX .GDAXI is up 1.4%.
Canada’s main stock index .GSPTSE gained momentum as Prime Minister Justin Trudeau’s re-election liberals reassured investors that the outlook for the economy would continue to improve.
Central bank meetings in the United States and elsewhere in the world were soon to take center stage for markets, with the Federal Reserve meeting set to end on Wednesday as investors look to see when it will ease its bond-buying program. Will do
(Graphic: Evergrande’s debt pile, https://graphics.reuters.com/CHINA%20EVERGRANDE-DEBT/jnvweyjjlvw/CHINA-EVERGRANDE.jpg)
In currency trading, the dollar index = USD fell 0.012%, with the euro down 0.03% at $1.1722. The Japanese yen strengthened 0.18% versus the greenback at 109.20 per dollar.
“What’s going to happen to the Fed, what’s going to happen to Evergrande, and right now if you’re trying to make a dollar bet you really want to wait until you have a better understanding of what’s going to happen to the Fed.” What’s going to happen to Evergrande and what the Chinese government is going to do,” said Edward Moya, senior market analyst at OANDA in New York.
The benchmark 10-year US Treasury note US10YT=RR was last down 5/32 in price by 1.3243%, down from 1.309% late Monday.
Oil prices rose in a see-saw session, as concerns about the global consumption outlook balanced a struggle by large OPEC producers to pump enough supply to meet rising demand.
US crude CLc1 was up 0.4% at $70.56 a barrel and Brent LCOc1 was up 0.6% at $74.36 a barrel.
Spot gold XAU= 0.5% rose to $1,773.09 an ounce.
(Additional reporting by Chuck Mikolajczak in New York, Tom Westbrook in Singapore, Hideyuki Sano in Tokyo, Anoushka Trivedi in Bengaluru, Paulina Duran in Sydney and Danilo Masoni in Milan; Editing by Dan Grebler and Steve Orlofsky)
Disclaimer: This post has been self-published from the agency feed without modification and has not been reviewed by an editor
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