Asia Morning: U.S. Stocks Take a Breather

Meanwhile, the Russell 2000 Index marks another record close...

Trading floor 2

On Tuesday, U.S. stocks took a breather after a recent strong run. The Dow Jones Industrial Average dropped 167 points (-0.56%) to 29783, the S&P 500 fell 17 points (-0.48%) to 3609, and the Nasdaq 100 was down 35 points (-0.30%) to 11977.

Meanwhile, the Russell 2000 Index gained 6 points (+0.37%) to an all-time high of 1791.


Nasdaq 100 Index (Daily Chart) : Waiting to Break Record

Sources: GAIN Capital, TradingView


U.S. official data showed that retail sales grew 0.3% on month in October, lower than +0.5% expected and +1.6% in September.

Utilities (-2.01%), Food & Staples Retailing (-1.49%) and Health Care Equipment & Services (-1.42%) sectors led the market lower. Retailers Home Depot (HD -2.54%) and Walmart (WMT -2.17%) were lower, while Tesla (TSLA +8.21%) and Boeing Co (BA +3.78%) posted gains.

Pharmacy stocks such as Walgreens Boots Alliance (WBA -9.63%) and CVS Health (CVS -8.62%) fell after Amazon.com (AMZN +0.15%) announced plans to sell prescription drugs in the U.S.

Approximately 90% (87% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 88% (86% in the prior session) were trading above their 20-day moving average.

European stocks were mixed at close. The Stoxx Europe 600 declined 0.24%, Germany's DAX was little changed, France's CAC 40 gained 0.21%, while the U.K.'s FTSE 100 dropped 0.87%.

U.S. Treasury prices increased as stocks slipped from recent record highs. The benchmark U.S. 10-year Treasury yield slid to 0.872% from 0.906% Monday.

Spot gold declined $7 (-0.38%) to $1,881 an ounce.

U.S. WTI crude futures (December) gained $0.11 (+0.27%) to $41.45 a barrel.

The ICE Dollar Index was down for a fourth session falling 0.21% to 92.44.

The Japanese yen and the Swiss franc, widely regarded as safe-haven currencies, received bids as stocks eased from record highs. USD/JPY lost 0.36% to 104.19, and USD/CHF declined 0.15% to 0.9113.   

The British pound also gained, boosted by news of progress in the Brexit trade talks. GBP/USD climbed 0.36% to 1.3245.

EUR/USD climbed 0.09% to 1.1862 extending its winning streak to a fourth day.

The Australian dollar gave the worst performance among major currencies. AUD/USD dropped 0.27% to 0.7300 ending a two-day rally.

USD/CAD rebounded 0.24% to 1.3105.

More from Commodities

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.