MARKET REVIEW

Dollar Dips, Pound Slips below 1.30 before Brexit Meeting

Investing.com - The dollar dipped against a currency basket on Wednesday, while the pound slipped back below the 1.30 level ahead of a key UK cabinet meeting to debate the draft agreement on Brexit hammered out after more than a year of talks.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, slid 0.14% to 97.01 by 03:50 AM ET (08:50 AM GMT). The index hit a 16-month high of 97.53 on Monday.

The pound edged lower, with GBP/USD changing hands at 1.2974, after hitting a high of 1.3046 on Tuesday.

Sterling had strengthened after negotiators in Brussels finally agreed draft terms for Britain’s departure from the European Union.

But the pound slipped lower amid uncertainty over whether British Prime Minister Theresa May will be able to convince her deeply divided cabinet to back the deal at a meeting later in the day.

If the cabinet approves the plan, the EU expects to hold a special Brexit summit on Nov. 25. May can then present the deal to parliament, most likely in mid-December.

The euro was little changed against the pound, with EUR/GBP at 0.8702, holding above the five month lows of 0.8655 reached on Tuesday.

The single currency was flat against the dollar, with EUR/USD at 1.1282, off an overnight high of 1.1283.

In the euro zone, data showed that Germany’s economy contracted for the first time since the first quarter of 2015 in the third quarter, adding to fears over the impact of global trade wars on the outlook for global growth.

The data came after a report overnight showing that Japan’s economy contracted in the three months to September.

Investors were looking ahead to preliminary data on third quarter growth in the wider euro zone later in the day.

The euro was also on the back foot after Italy defied the European Commission by sticking to plans for a high deficit in next years draft budget.

Brussels, worried by the impact of high spending on Italy's high levels of debt, had told Rome to revise the budget or face possible fines.

The dollar was steady against the yen, with USD/JPY at 113.84.

Yuan Flat After Mixed China Economic Data; Dollar Unchanged

Investing.com - The yuan was flat on Wednesday after China reported a mixed economic report card for October. The dollar was unchanged as traders awaited Federal Reserve chairman Jerome Powell’s speech later in the day.

The USD/CNY pair was down 0.08% to 6.9514 by 1:00 AM ET (06:00 GMT).

China’s October industrial output and third-quarter investment grew faster than expected, but retail sales missed expectations, the National Bureau of Statistics (NBS) reported on Wednesday.

Industrial output jumped 5.9% in October, outperforming previous expectations of a 5.7% growth, the NBS said.

Meanwhile, Fixed-asset investment growth came in at 5.7% in the January-October period, again beating analysts’ estimates of a 5.5% growth.

Private-sector fixed-asset investment rose 8.8% in January-October, compared with an increase of 8.7% in the first three quarters.

Private investment accounts for about 60% of overall investment in China.

Retail sales, on the other hand, rose 8.6% year-on-year in October. Markets expected sales to rise by 9.1%.

The People's Bank of China (PBOC) set the yuan reference rate at 6.9402 vs the previous day's fix of 6.9629.

The U.S. dollar index that tracks the greenback against a basket of other currencies was unchanged at 96.98.

Federal Reserve chairman Jerome Powell will speak later in the day, reports citing analysts said Powell might attempt to calm concerns about the Fed hiking rates too fast.

The EUR/USD pair slipped 0.04%, and the GBP/USD pair inched up 0.07%. U.K. Prime Minister Theresa May will present a draft text of a Brexit withdrawal agreement to her senior ministers on Wednesday after both the UK and EU reached consensus on the Brexit divorce deal.

The divorce deal, however, is widely expected to meet opposition in the UK parliament.

"The problem is it has to come to parliament, and all we know about the views of different people across the political spectrum is a deal of this kind is not going to get through," Liberal Democrat leader Vince Cable told the BBC on Tuesday.

Australia stocks lower at close of trade; S&P/ASX 200 down 1.74%

Investing.com – Australia stocks were lower after the close on Wednesday, as losses in the Energy, Resources and Metals&Mining sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 fell 1.74%.

The best performers of the session on the S&P/ASX 200 were CYBG PLC (AX:CYB), which rose 3.37% or 0.160 points to trade at 4.910 at the close. Meanwhile, Corporate Travel Managment Ltd (AX:CTD) added 3.01% or 0.670 points to end at 22.900 and Washington H Soul Pattinson&Co Ltd (AX:SOL) was up 3.00% or 0.890 points to 30.600 in late trade.

The worst performers of the session were Aveo Group (AX:AOG), which fell 9.81% or 0.185 points to trade at 1.700 at the close. Pact Group Holdings Ltd (AX:PGH) declined 9.72% or 0.350 points to end at 3.250 and Elders Ltd (AX:ELD) was down 8.44% or 0.650 points to 7.050.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 814 to 351 and 326 ended unchanged.

Shares in Aveo Group (AX:AOG) fell to 5-year lows; down 9.81% or 0.185 to 1.700. Shares in Pact Group Holdings Ltd (AX:PGH) fell to 3-years lows; falling 9.72% or 0.350 to 3.250. Shares in Washington H Soul Pattinson&Co Ltd (AX:SOL) rose to all time highs; gaining 3.00% or 0.890 to 30.600.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 11.64% to 17.509.

Gold Futures for December delivery was up 0.08% or 1.00 to $1202.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 0.83% or 0.46 to hit $55.23 a barrel, while the January Brent oil contract fell 0.44% or 0.29 to trade at $65.18 a barrel.

AUD/USD was unchanged 0.00% to 0.7218, while AUD/JPY rose 0.09% to 82.22.

The US Dollar Index Futures was up 0.01% at 96.99.

Cryptocurrencies Mixed as Investors Show Confidence in Blockchain Technology

Investing.com - Cryptocurrency prices were mixed on Wednesday morning in Asia, with Bitcoin alone edging up among other major digital tokens, and HSBC investing in New York-based blockchain startup Axoni on Tuesday.

Bitcoin inched up 0.18% to $6,435.5 at 10:51PM ET (02:51 GT) on the Bitifinex exchange.

Ethereum fell 0.71% to $210.12 on the Bitifinex exchange.

XRP dropped 0.9% to $0.51647 on the Poloniex exchange.

Litecoin dived 1.2% to $50.529 on the Bitifinex exchange.

HSBC joined Axoni’s series B financing round, raising a total of $36 million. The startup said it will use the funds to enhance its data synchronization technology, expand its suite of infrastructure products and to advance an Ethereum-compatible smart contracting language that enables formal verification.

“Distributed ledger technology will clearly be important in modernizing the shared infrastructure of capital markets,” said Matthew J. Flanigan, COO of HSBC Bank USA, in a statement.

Elsewhere, over a third of German logistics managers said they believe blockchain technology could significantly enhance cooperation in supply chains, according to a Hermes survey.

This comes after nine ocean carriers and terminal operators inked an MOU last week to set up a consortium, with the aim of developing an open digital platform based on distributed ledger technology, according to the Maritime Executive.

Set to be available next month, the platform will allow shippers to digitize and organize their dangerous goods documents and connect with relevant parties to expediate the approval process.

On the flip side, frauds and scams concerning digital currencies continue to be a concern.

Bloomberg reported that U.S. trader Joseph Kim was sentenced to 15 months in prison for mishandling $1.1 million in Bitcoin and Litecoin in 2017, marking the first criminal prosecution involving crypto trading. Kim’s scheme hurt at least five investors.

Recent reports showed that hackers obtained control of the Twitter account of department store retailer Target (NYSE:TGT) on Tuesday, among others. With the accounts, they distributed messages promising to compensate people with bitcoin if they pay in cryptocurrencies. Target said later that Twitter is currently investigating the incident.

Oil Prices Slip After Plunging 7% Overnight

Investing.com - Oil prices slipped on Wednesday after diving 7% the previous day and suffered their biggest one-day loss in more than three years.

Crude Oil WTI Futures declined 0.3% at $55.5 a barrel by 11:19 AM ET (04:19 GMT).

Meanwhile, Brent Oil Futures, the benchmark for oil prices outside the U.S., was down 0.2%, to $65.34.

Both benchmarks are now officially in the bear market territory, as they slumped more than 20% from their 52-week highs.

"It's like a run on the bank," said Phil Flynn, an analyst at Price Futures Group in Chicago. "It's getting to the point where it doesn't seem to be about fundamentals anymore, but a total collapse in price."

Citing analysts, Reuters said worries over weakening global demand, and surging U.S. productions were the main catalysts for the selling.

Overall U.S. crude production hit a record 11.6 million bpd, making the United States the world's biggest oil producer ahead of Russia and Saudi Arabia.

Meanwhile, the American Petroleum Institute showed on Tuesday that

U.S. crude inventories climbed by 7.8 million barrels in the week ending Nov. 2 to 432 million as refineries cut output.

Crude oil prices surged earlier this year as the market prepared for shortages amid restoration of sanctions against Iran, the third-largest producer of OPEC.

The positive sentiment in oil prices diminished however after the sanctions were proven to be less severe, as U.S. President Donald Trump announced last week that several of Iran’s major buyers would be granted exemptions that allow them to continue buying limited amounts of crude for at least another six months.

Trump’s comments came one day after Saudi energy minister Khalid al-Falih said Saudi Arabia would cut oil output from December and suggested that other members of OPEC and their non-OPEC allies led by Russia could follow suit.

The kingdom would cut oil supply by 0.5 million barrels per day (bpd) in December due to lower seasonal demand. The cut represents a reduction in global oil supply of about 0.5%, according to reports.

Asian Equities Fall; Kudlow Confirms Talks Between U.S, China

Investing.com - Asian equities fell in morning trade on Wednesday, with Australian stocks down more than 1.5%. Reports that top white house economic advisor Larry Kudlow confirmed the U.S. is talking with China again on trade issues were in focus.

Kudlow told CNBC in an interview that communications between the two nations are at all levels of two governments, adding that he has spoken to Treasury Secretary Steven Mnuchin about it as part of their preparation for the upcoming G-20 summit.

"I think that's very, very, very positive," said Kudlow, although he refused to make a prediction on the outcome of the discussions.

The U.S. is also in “very good” communications with the European Union and with Japan, Kudlow added.

In Asia, China’s Shanghai Composite and the Shenzhen Component were down 0.2% and 0.4% respectively by 10:30 PM ET (03:30 GMT). Hong Kong’s Hang Seng Index also slipped 0.2%.

Data on Wednesday showed China’s industrial output jumped 5.9% in October, outperforming previous expectations of a 5.7% growth.

Fixed-asset investment growth came in at 5.7% in the January-October period, again beating analysts’ estimates of a 5.5% growth.

Retail sales, on the other hand, rose 8.6% year-on-year in October. Markets expected sales to rise by 9.1%.

Japan’s Nikkei 225 rose 0.3% as government data showed the country’s third-quarter GDP shrank at an annualised rate of 1.2%, comparing with the median estimate of a 1.0% annualised contraction.

Elsewhere, South Korea’s KOSPI slid 0.3%.

Looking ahead, Federal Reserve chairman Jerome Powell will speak later in the day, reports citing analysts said Powell might attempt to calm concerns about the Fed hiking rates too fast.

Day Ahead: Top 3 Things to Watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Retail Inflation Due Up

Inflation data leads tomorrow’s economic calendar as the latest numbers on retail prices arrive.

The Labor Department will release the October consumer price index (CPI) at 8:30 AM ET (13:30 GMT).

On average, economists expect that the CPI rose 0.3% last month. The core CPI, which excludes food and energy prices, if forecast to have risen 0.2%.

Following a hotter-than-expected producer price index for October, investors will looking for further evidence that the Federal Reserve can maintain its plan of more rate hikes.

Core prices are viewed by the Fed as a better gauge of longer-term inflationary pressure precisely because they exclude the volatile food and energy categories.

The central bank usually tries to aim for 2% core inflation or less.

Recent solid U.S. economic reports and an upbeat assessment of the economy from Fed Chairman Jerome Powell have triggered expectations for a faster-than-expected pace of rate hikes from the Fed.

2. Macy’s Reports Earnings Before the Bell

Macy’s (NYSE:M) continues the retail earnings coming out this week, issuing numbers before the bell.

Analysts predict that the company earned 14 cents per share on sales of $5.4 billion.

The department store chain has topped profit forecasts in the last three quarters and the stock has nearly doubled in the past year.

The biggest worry, which briefly derailed the stock’s remarkable run over the past year, was rising costs, Investing.com’s Haris Anwar writes.

“During its second quarter earnings report in August, Macy’s warned investors that gross margins are expected to decline in the second half of the year compared with the first half, on higher costs associated with the company’s new loyalty program,” Anwar wrote.

3. Huge Crude Selloff Continues

Oil prices will be grabbing headlines as prices plunged today, pushing crude further into bear market territory.

WTI futures fell about 8%, its 12th consecutive day of losses. WTI is now about 30% off its recent highs, as there looks to be ample supply despite U.S. oil sanctions on Iran going into effect this month.

Strong U.S. production is another factor in the selling and there will be more numbers out tomorrow.

The American Petroleum Institute will report its measure of U.S. crude inventories tomorrow. It reported a build of 7.83 million barrels the week before.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.40%

Investing.com – U.S. stocks were mixed after the close on Tuesday, as gains in the Financials, Utilities and Industrials sectors led shares higher while losses in the Oil&Gas, Healthcare and Telecoms sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 0.40%, while the S&P 500 index fell 0.15%, and the NASDAQ Composite index added 0.03%.

The best performers of the session on the Dow Jones Industrial Average were Intel Corporation (NASDAQ:INTC), which rose 1.59% or 0.74 points to trade at 47.39 at the close. Meanwhile, American Express Company (NYSE:AXP) added 1.29% or 1.37 points to end at 107.86 and Procter&Gamble Company (NYSE:PG) was up 0.83% or 0.77 points to 93.47 in late trade.

The worst performers of the session were Exxon Mobil Corp (NYSE:XOM), which fell 2.29% or 1.83 points to trade at 78.00 at the close. Boeing Co (NYSE:BA) declined 2.11% or 7.52 points to end at 349.51 and Chevron Corp (NYSE:CVX) was down 1.74% or 2.04 points to 115.35.

The top performers on the S&P 500 were Advance Auto Parts Inc (NYSE:AAP) which rose 10.57% to 184.72, General Electric Company (NYSE:GE) which was up 7.76% to settle at 8.61 and NVIDIA Corporation (NASDAQ:NVDA) which gained 5.15% to close at 199.31.

The worst performers were Coty Inc (NYSE:COTY) which was down 5.66% to 8.16 in late trade, Tyson Foods Inc (NYSE:TSN) which lost 5.58% to settle at 58.17 and Halliburton Company (NYSE:HAL) which was down 5.53% to 32.27 at the close.

The top performers on the NASDAQ Composite were Pyxis Tankers Inc (NASDAQ:PXS) which rose 53.89% to 2.9700, EyeGate Pharmaceuticals Inc (NASDAQ:EYEG) which was up 34.66% to settle at 0.420 and Hudson Technologies Inc (NASDAQ:HDSN) which gained 32.96% to close at 0.960.

The worst performers were EverQuote Inc Class A (NASDAQ:EVER) which was down 43.49% to 6.73 in late trade, PHI Inc (NASDAQ:PHIIK) which lost 25.27% to settle at 4.76 and CTI Industries Corporation (NASDAQ:CTIB) which was down 24.30% to 3.02 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1624 to 1451 and 78 ended unchanged; on the Nasdaq Stock Exchange, 1317 fell and 1312 advanced, while 89 ended unchanged.

Shares in Advance Auto Parts Inc (NYSE:AAP) rose to 3-years highs; rising 10.57% or 17.66 to 184.72. Shares in Coty Inc (NYSE:COTY) fell to all time lows; losing 5.66% or 0.49 to 8.16. Shares in Halliburton Company (NYSE:HAL) fell to 52-week lows; falling 5.53% or 1.89 to 32.27. Shares in Procter&Gamble Company (NYSE:PG) rose to 52-week highs; rising 0.83% or 0.77 to 93.47. Shares in EverQuote Inc Class A (NASDAQ:EVER) fell to all time lows; losing 43.49% or 5.18 to 6.73. Shares in PHI Inc (NASDAQ:PHIIK) fell to all time lows; falling 25.27% or 1.61 to 4.76. Shares in CTI Industries Corporation (NASDAQ:CTIB) fell to 5-year lows; falling 24.30% or 0.97 to 3.02.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 2.10% to 20.02.

Gold Futures for December delivery was up 0.16% or 1.90 to $1203.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 7.89% or 4.73 to hit $55.20 a barrel, while the January Brent oil contract fell 7.12% or 4.99 to trade at $65.13 a barrel.

EUR/USD was up 0.61% to 1.1288, while USD/JPY fell 0.04% to 113.79.

The US Dollar Index Futures was down 0.39% at 97.00.

Canada stocks lower at close of trade; S&P/TSX Composite down 0.23%

Investing.com – Canada stocks were lower after the close on Tuesday, as losses in the Energy, Healthcare and Clean Technology sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite lost 0.23%.

The best performers of the session on the S&P/TSX Composite were Badger Daylighting Ltd . (TO:BAD), which rose 10.39% or 2.93 points to trade at 31.13 at the close. Meanwhile, Lundin Mining Corporation (TO:LUN) added 5.28% or 0.280 points to end at 5.580 and TFI International Inc (TO:TFII) was up 4.16% or 1.81 points to 45.31 in late trade.

The worst performers of the session were Premium Brands Holdings Corporation (TO:PBH), which fell 16.13% or 14.01 points to trade at 72.83 at the close. CES Energy Solutions Corp (TO:CEU) declined 10.30% or 0.340 points to end at 2.960 and Baytex Energy Corp (TO:BTE) was down 10.00% or 0.25 points to 2.25.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 750 to 384 and 91 ended unchanged.

Shares in Premium Brands Holdings Corporation (TO:PBH) fell to 52-week lows; down 16.13% or 14.01 to 72.83. Shares in CES Energy Solutions Corp (TO:CEU) fell to 52-week lows; losing 10.30% or 0.340 to 2.960. Shares in Baytex Energy Corp (TO:BTE) fell to 52-week lows; falling 10.00% or 0.25 to 2.25.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 7.09% to 18.35.

Gold Futures for December delivery was up 0.16% or 1.90 to $1203.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 7.99% or 4.79 to hit $55.14 a barrel, while the January Brent oil contract fell 7.16% or 5.02 to trade at $65.10 a barrel.

CAD/USD was up 0.08% to 0.7554, while CAD/EUR fell 0.54% to 0.6692.

The US Dollar Index Futures was down 0.39% at 97.00.

Gold Ends Down But Bounces Back Above $1,200

Investing.com - Gold broke below its long-held perch of $1,200 an ounce on Tuesday before settling above that key psychological level, keeping alive bullion fans' hopes of a recovery as equity markets struggled again.

Futures for December delivery fell to a November low of $1,196.70 per troy ounce before settling at $1,201.40, down $2.10, or 0.2% on the day. It was the fourth-straight day of losses for the yellow metal, which has lost more than $20 since its last positive settlement on Nov. 7.

On Wall Street, the Dow fell 0.3% by 3:47 PM ET (20:47 GMT), giving back early gains that signaled the market wasn't on firm footing yet after October's rout.

"The skittish trading in stocks is actually giving gold bulls hope that the market can hold at above the $1,200 and possibly take on the $1,250 resistance in the near term despite the threat of oncoming rate hikes and what that could do to the dollar," said Tom Beller, market strategist at RJO Futures in Chicago.

The dollar index, which measures the greenback against a basket of six currencies, was down 0.4% to 97.02.

The dollar rallied last week after strong U.S. producer price index data on Friday underlined the case for the Federal Reserve to raise interest rates again in December.

The Fed has already hiked rates three times this year and is determined to stay ahead of the inflationary curve with more increases in 2019 after the robust growth seen lately in the economy.

Dealers are looking out for this week's consumer price index (CPI ) and retail sales data to see if they beat expectations and further inflate the dollar.

MarketPulse: Nvidia's Surge Higher Helps Tech Hold Gains

Investing.com - Nvidia rallied heading into the close Tuesday, helping the broader tech sector hold gains after Wall Street served up an upbeat assessment of the chipmaker ahead of its quarterly results due Thursday.

Nvidia (NASDAQ:NVDA) rose more than 4% after the Susquehanna analyst Christopher Rolland upgraded its rating on to positive from neutral and hiked its price target on the stock to $230 from $250, citing the odds of a chipmaker delivering weaker guidance are priced in.

Nvidia's near-term issues should pass in a quarter (or two), while valuation supports greatly reduced estimates and longer-term opportunities abound, Rolland said.

The rally in Nvidia helped offset mixed trading in FANG stocks, which weighed on the border tech sector.

Netflix (NASDAQ:NFLX) erased earlier gains as investors mulled over reports that the company was set to test a lower price for its content streamed in some countries in an effort to boost sales. Its shares fell 0.65%.

The move comes as Netflix seeks to address slow growth in Asia, where it has yet to amass 2 million subscribers in any country, according to estimates by Media Partners Asia.

Alphabet (NASDAQ:GOOGL) was flat and Facebook (NASDAQ:FB) rose more than 1% on signs that both companies continued to suck in the bulk of advertising dollars in the first half of the year.

"We calculate that the digital advertising industry's two biggest players [Facebook and Google] were responsible for around 75% of all digital advertising growth in the quarter, both excluding and including search in the U.S.," Pivotal Research said in a note to clients, citing data released Tuesday by the Interactive Advertising Bureau.

Brazil stocks lower at close of trade; Bovespa down 0.77%

Investing.com – Brazil stocks were lower after the close on Tuesday, as losses in the Financials, Real Estate and Electric Power sectors led shares lower.

At the close in Sao Paulo, the Bovespa fell 0.77%.

The best performers of the session on the Bovespa were Suzano Papel e Celulose SA (SA:SUZB3), which rose 6.17% or 2.11 points to trade at 36.31 at the close. Meanwhile, EDP - Energias do Brasil SA (SA:ENBR3) added 2.98% or 0.41 points to end at 14.16 and Vale SA (SA:VALE3) was up 2.59% or 1.42 points to 56.27 in late trade.

The worst performers of the session were Petroleo Brasileiro SA (SA:PETR3), which fell 4.61% or 1.29 points to trade at 26.70 at the close. Tim Participacoes SA (SA:TIMP3) declined 4.55% or 0.54 points to end at 11.33 and Petroleo Brasileiro SA PN (SA:PETR4) was down 4.30% or 1.09 points to 24.24.

Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 254 to 155 and 27 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 1.70% to 40.48.

Gold Futures for December delivery was up 0.01% or 0.10 to $1201.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 8.01% or 4.80 to hit $55.13 a barrel, while the December US coffee C contract fell 0.82% or 0.90 to trade at $109.25 .

USD/BRL was up 0.94% to 3.8031, while EUR/BRL rose 1.47% to 4.2886.

The US Dollar Index Futures was down 0.32% at 97.07.

Portugal stocks lower at close of trade; PSI 20 down 0.73%

Investing.com – Portugal stocks were lower after the close on Tuesday, as losses in the Industrials, Basic Materials and Consumer Goods sectors led shares lower.

At the close in Lisbon, the PSI 20 fell 0.73%.

The best performers of the session on the PSI 20 were Sonae Capital (LS:SONAC), which rose 2.02% or 0.0150 points to trade at 0.7560 at the close. Meanwhile, J. Martins SGPS (LS:JMT) added 1.08% or 0.1150 points to end at 10.7650 and Altri SGPS (LS:ALSS) was up 0.84% or 0.0600 points to 7.1700 in late trade.

The worst performers of the session were Galp Energia Nom (LS:GALP), which fell 4.30% or 0.6350 points to trade at 14.1400 at the close. Mota Engil (LS:MOTA) declined 2.46% or 0.0420 points to end at 1.6640 and Ibersol SGPS (LS:IBS) was down 1.91% or 0.160 points to 8.220.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 19 to 16 and 5 ended unchanged.

Shares in Galp Energia Nom (LS:GALP) fell to 52-week lows; losing 4.30% or 0.6350 to 14.1400. Shares in Mota Engil (LS:MOTA) fell to 52-week lows; falling 2.46% or 0.0420 to 1.6640. Shares in Ibersol SGPS (LS:IBS) fell to 52-week lows; falling 1.91% or 0.160 to 8.220.

Brent oil for January delivery was down 4.41% or 3.09 to $67.03 a barrel. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.57% or 2.74 to hit $57.19 a barrel, while the December Gold Futures contract rose 0.09% or 1.10 to trade at $1202.40 a troy ounce.

EUR/USD was up 0.50% to 1.1275, while EUR/GBP fell 0.71% to 0.8668.

The US Dollar Index Futures was down 0.32% at 97.07.

Netherlands stocks higher at close of trade; AEX up 0.67%

Investing.com – Netherlands stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Consumer Goods and Technology Hardware&Equipment sectors led shares higher.

At the close in Amsterdam, the AEX gained 0.67% to hit a new 1-month high.

The best performers of the session on the AEX were ASML Holding NV (AS:ASML), which rose 2.86% or 4.26 points to trade at 153.16 at the close. Meanwhile, Koninklijke Ahold Delhaize NV (AS:AD) added 2.53% or 0.570 points to end at 23.125 and Galapagos NV (AS:GLPG) was up 2.38% or 2.140 points to 92.140 in late trade.

The worst performers of the session were ASR Nederland NV (AS:ASRNL), which fell 2.09% or 0.86 points to trade at 40.34 at the close. Royal Dutch Shell PLC Class A (AS:RDSa) declined 1.37% or 0.380 points to end at 27.405 and ArcelorMittal SA (AS:MT) was down 0.53% or 0.115 points to 21.635.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 70 to 53 and 12 ended unchanged.

Shares in Koninklijke Ahold Delhaize NV (AS:AD) rose to 5-year highs; rising 2.53% or 0.570 to 23.125.

The AEX Volatility, which measures the implied volatility of AEX options, was down 4.27% to 15.19.

Crude oil for December delivery was down 4.29% or 2.57 to $57.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 4.12% or 2.89 to hit $67.23 a barrel, while the December Gold Futures contract rose 0.10% or 1.20 to trade at $1202.50 a troy ounce.

EUR/USD was up 0.49% to 1.1274, while EUR/GBP fell 0.68% to 0.8671.

The US Dollar Index Futures was down 0.32% at 97.07.

Spain stocks higher at close of trade; IBEX 35 up 0.76%

Investing.com – Spain stocks were higher after the close on Tuesday, as gains in the Financial Services&Real Estate, Consumer Services and Telecoms&IT sectors led shares higher.

At the close in Madrid, the IBEX 35 rose 0.76%.

The best performers of the session on the IBEX 35 were Indra A (MC:IDR), which rose 4.32% or 0.350 points to trade at 8.455 at the close. Meanwhile, International Consolidated Airlines Group SA (MC:ICAG) added 3.38% or 0.246 points to end at 7.528 and B. Sabadell (MC:SABE) was up 2.55% or 0.030 points to 1.206 in late trade.

The worst performers of the session were Distribuidora Intl de Aliment (MC:DIDA), which fell 6.26% or 0.045 points to trade at 0.674 at the close. Acciona (MC:ANA) declined 3.51% or 2.840 points to end at 78.080 and Tecnicas Reunidas (MC:TRE) was down 2.47% or 0.540 points to 21.310.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 95 to 73 and 21 ended unchanged.

Shares in Tecnicas Reunidas (MC:TRE) fell to 5-year lows; falling 2.47% or 0.540 to 21.310.

Gold Futures for December delivery was up 0.11% or 1.30 to $1202.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.15% or 2.49 to hit $57.44 a barrel, while the January Brent oil contract fell 3.99% or 2.80 to trade at $67.32 a barrel.

EUR/USD was up 0.51% to 1.1276, while EUR/GBP fell 0.70% to 0.8669.

The US Dollar Index Futures was down 0.33% at 97.06.

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 1.09%

Investing.com – Denmark stocks were lower after the close on Tuesday, as losses in the Chemicals, Healthcare and Software&Computer Services sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 lost 1.09%.

The best performers of the session on the OMX Copenhagen 20 were ISS A/S (CO:ISS), which rose 2.48% or 5.60 points to trade at 231.00 at the close. Meanwhile, FLSmidth&Co. (CO:FLS) added 1.05% or 3.7 points to end at 354.6 and AP Moeller - Maersk A/S B (CO:MAERSKb) was up 0.55% or 48 points to 8730 in late trade.

The worst performers of the session were Ambu A/S (CO:AMBUb), which fell 13.97% or 19.0 points to trade at 117.0 at the close. Jyske Bank A/S (CO:JYSK) declined 2.91% or 8.1 points to end at 270.7 and Genmab (CO:GEN) was down 2.52% or 24.2 points to 935.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 83 to 36 and 20 ended unchanged.

Crude oil for December delivery was down 4.14% or 2.48 to $57.45 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 3.98% or 2.79 to hit $67.33 a barrel, while the December Gold Futures contract rose 0.10% or 1.20 to trade at $1202.50 a troy ounce.

USD/DKK was down 0.48% to 6.6176, while EUR/DKK rose 0.03% to 7.4615.

The US Dollar Index Futures was down 0.33% at 97.06.

Germany stocks higher at close of trade; DAX up 1.30%

Investing.com – Germany stocks were higher after the close on Tuesday, as gains in the Technology, Software and Industrials sectors led shares higher.

At the close in Frankfurt, the DAX added 1.30%, while the MDAX index climbed 1.07%, and the TecDAX index added 1.57%.

The best performers of the session on the DAX were Infineon Technologies AG NA O.N. (DE:IFXGn), which rose 4.15% or 0.695 points to trade at 17.460 at the close. Meanwhile, Deutsche Lufthansa AG (DE:LHAG) added 4.07% or 0.800 points to end at 20.450 and Wirecard AG (DE:WDIG) was up 3.49% or 5.300 points to 157.000 in late trade.

The worst performers of the session were Bayer AG NA (DE:BAYGN), which fell 2.87% or 1.97 points to trade at 66.64 at the close. Linde PLC (DE:LINI) declined 1.50% or 2.150 points to end at 140.800 and Fresenius SE&Co KGAA O.N. (DE:FREG) was down 0.80% or 0.420 points to 52.040.

The top performers on the MDAX were Siltronic AG (DE:WAFGn) which rose 5.51% to 81.600, Schaeffler AG Pref (DE:SHA_p) which was up 4.50% to settle at 8.41 and Rheinmetall AG (DE:RHMG) which gained 4.17% to close at 78.000.

The worst performers were Aareal Bank AG (DE:ARLG) which was down 4.95% to 30.900 in late trade, Delivery Hero AG (DE:DHER) which lost 4.13% to settle at 33.46 and Uniper SE (DE:UN01) which was down 2.76% to 25.320 at the close.

The top performers on the TecDAX were Hamburger Hafen Und Logistik A-SP (DE:HHFGn) which rose 8.02% to 20.200, Isra Vision O.N. (DE:ISRG) which was up 7.51% to settle at 38.65 and Deutz AG (DE:DEZG) which gained 7.45% to close at 6.850.

The worst performers were Nordex SE O.N. (DE:NDXG) which was down 16.83% to 7.968 in late trade, SMA Solar Technology AG (DE:S92G) which lost 6.38% to settle at 18.190 and HelloFresh SE (DE:HFGG) which was down 4.61% to 10.55 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 401 to 291 and 87 ended unchanged.

Shares in Fresenius SE&Co KGAA O.N. (DE:FREG) fell to 3-years lows; losing 0.80% or 0.420 to 52.040. Shares in Aareal Bank AG (DE:ARLG) fell to 52-week lows; down 4.95% or 1.610 to 30.900.

The DAX volatility index, which measures the implied volatility of DAX options, was up 10.19% to 18.93.

Gold Futures for December delivery was up 0.14% or 1.70 to $1203.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.25% or 2.55 to hit $57.38 a barrel, while the January Brent oil contract fell 4.19% or 2.94 to trade at $67.18 a barrel.

EUR/USD was up 0.58% to 1.1284, while EUR/GBP fell 0.84% to 0.8657.

The US Dollar Index Futures was down 0.42% at 96.97.

Norway stocks lower at close of trade; Oslo OBX down 1.43%

Investing.com – Norway stocks were lower after the close on Tuesday, as losses in the Technology Hardware&Equipment, Energy and Diversified Financials sectors led shares lower.

At the close in Oslo, the Oslo OBX fell 1.43%.

The best performers of the session on the Oslo OBX were SalMar ASA (OL:SALM), which rose 4.36% or 21.30 points to trade at 509.50 at the close. Meanwhile, Norwegian Air Shuttle ASA (OL:NWC) added 3.00% or 6.60 points to end at 226.40 and Telenor ASA (OL:TEL) was up 1.33% or 2.1 points to 160.5 in late trade.

The worst performers of the session were DNO International ASA (OL:DNO), which fell 10.33% or 1.65 points to trade at 14.32 at the close. Equinor ASA (OL:EQNR) declined 4.33% or 9.2 points to end at 208.2 and Aker ASA (OL:AKER) was down 3.61% or 21.0 points to 560.0.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 142 to 50 and 16 ended unchanged.

Shares in SalMar ASA (OL:SALM) rose to all time highs; up 4.36% or 21.30 to 509.50.

Crude oil for December delivery was down 3.97% or 2.38 to $57.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 3.78% or 2.65 to hit $67.47 a barrel, while the December Gold Futures contract rose 0.17% or 2.10 to trade at $1203.40 a troy ounce.

EUR/NOK was up 0.06% to 9.5685, while USD/NOK fell 0.56% to 8.4766.

The US Dollar Index Futures was down 0.43% at 96.96.

Greece stocks higher at close of trade; Athens General Composite up 0.64%

Investing.com – Greece stocks were higher after the close on Tuesday, as gains in the Travel, Media and Retail sectors led shares higher.

At the close in Athens, the Athens General Composite rose 0.64%.

The best performers of the session on the Athens General Composite were Eurobank Ergasias SA (AT:EURBr), which rose 0.82% or 0.0050 points to trade at 0.6170 at the close. Meanwhile, National Bank of Greece SA (AT:NBGr) added 5.45% or 0.072 points to end at 1.394 and Alpha Bank SA (AT:ACBr) was up 4.78% or 0.059 points to 1.294 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which rose 2.67% or 0.005 points to trade at 0.185 at the close. Marfin Invest (AT:MRFr) added 3.42% or 0.002 points to end at 0.072 and Selonda Aquaculture SA (AT:SELr) was down 1.03% or 0.0006 points to 0.0574.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 68 to 32 and 14 ended unchanged.

Shares in Selonda Aquaculture SA (AT:SELr) fell to 3-years lows; down 1.03% or 0.0006 to 0.0574.

Gold Futures for December delivery was up 0.25% or 3.00 to $1204.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 3.92% or 2.35 to hit $57.58 a barrel, while the January Brent oil contract fell 3.82% or 2.68 to trade at $67.44 a barrel.

EUR/USD was up 0.61% to 1.1287, while EUR/GBP fell 0.65% to 0.8673.

The US Dollar Index Futures was down 0.40% at 96.99.

Turkey stocks higher at close of trade; BIST 100 up 1.38%

Investing.com – Turkey stocks were higher after the close on Tuesday, as gains in the Transport, Banking and Financials sectors led shares higher.

At the close in Istanbul, the BIST 100 gained 1.38%.

The best performers of the session on the BIST 100 were CarrefourSA Carrefour Sabanci Ticaret Merkezi AS (IS:CRFSA), which rose 19.78% or 0.72 points to trade at 4.36 at the close. Meanwhile, Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (IS:GOLTS) added 15.52% or 5.66 points to end at 42.14 and Koza Anadolu Metal Madencilik Isletmeleri AS (IS:KOZAA) was up 5.86% or 0.340 points to 6.140 in late trade.

The worst performers of the session were Ihlas Holding AS (IS:IHLAS), which fell 3.33% or 0.010 points to trade at 0.290 at the close. Aksa Enerji Uretim AS (IS:AKSEN) declined 3.08% or 0.100 points to end at 3.150 and ODAS Elektrik Uretim Sanayi Ticaret AS (IS:ODAS) was down 2.31% or 0.060 points to 2.540.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 218 to 133 and 56 ended unchanged.

Shares in Aksa Enerji Uretim AS (IS:AKSEN) fell to 52-week lows; falling 3.08% or 0.100 to 3.150. Shares in ODAS Elektrik Uretim Sanayi Ticaret AS (IS:ODAS) fell to 52-week lows; losing 2.31% or 0.060 to 2.540.

Gold Futures for December delivery was up 0.20% or 2.40 to $1203.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.34% or 2.60 to hit $57.33 a barrel, while the January Brent oil contract fell 4.14% or 2.90 to trade at $67.22 a barrel.

USD/TRY was up 0.67% to 5.5060, while EUR/TRY rose 1.29% to 6.2152.

The US Dollar Index Futures was down 0.33% at 97.06.

General Electric Rises 3%

Investing.com - General Electric (NYSE:GE) rose by 3.32% to trade at $8.26 by 10:33 (15:33 GMT) on Tuesday on the NYSE exchange.

The volume of General Electric shares traded since the start of the session was 44.02M. General Electric has traded in a range of $7.97 to $8.27 on the day.

The stock has traded at $9.5400 at its highest and $7.7200 at its lowest during the past seven days.

Stocks - Wall Street Rises as Trade Tensions Ease

Investing.com – Wall Street rose on Tuesday, as trade tensions between the U.S. and China eased.

The S&P 500 rose 14 points, or 0.54%, to 2,740.89 as of 9:37 AM ET (14:37 GMT), while the Dow increased 60 points, or 0.24%, to 25,447.43 and the tech-heavy Nasdaq Composite was up 64 points, or 0.90% to 7,265.51.

Trade war tensions eased on news that China’s trade negotiator could head to Washington ahead of a meeting of the two countries' leaders later this month.

The South China Morning Post reported that Liu He could visit Washington as part of the preparations for the talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Argentina.

The U.S. has imposed tariffs of more than $250 billion Chinese imports, which China has retaliated against, as the two have failed to come up with a trade agreement.

General Electric (NYSE:GE) was among the gainers, rising 0.38% after it announced a series of agreements with Baker Hughes, including selling half of its stake in the oil services provider. Intel (NASDAQ:INTC) rose 0.63%, while Walt Disney (NYSE:DIS) gained 0.47% and Viking Therapeutics (NASDAQ:VKTX) surged 10.06%.

Elsewhere, Home Depot (NYSE:HD) fell 1.11% despite the retailer posting better-than-expected earnings. The report kicks off a week of retail earnings, with results from Walmart (NYSE:WMT) and Macy’s (NYSE:M) expected later in the week.

Meanwhile social media app Snap (NYSE:SNAP) fell 0.75% after its vice president of content Nick Bell announced he is leaving the company.

In commodities, gold futures rose 0.06% to $1,202.00 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.24% to 97.15. Crude oil slumped 1.94% to $58.77 a barrel.

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.31%

Investing.com – Saudi Arabia stocks were lower after the close on Tuesday, as losses in the Retail, Financial Services and Real Estate Development sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share declined 0.31%.

The best performers of the session on the Tadawul All Share were Al Baha Investment and Development Company SJSC (SE:4130), which rose 10.00% or 1.80 points to trade at 19.80 at the close. Meanwhile, Saudia Dairy and Foodstuff .Co (SE:2270) added 9.99% or 8.90 points to end at 98.00 and Al Sorayai Trading&Industrial Group (SE:1213) was up 9.96% or 1.08 points to 11.92 in late trade.

The worst performers of the session were Najran Cement Company (SE:3002), which fell 3.49% or 0.31 points to trade at 8.56 at the close. Eastern Province Cement Co. (SE:3080) declined 3.31% or 0.70 points to end at 20.42 and Taiba Holding Co. (SE:4090) was down 2.83% or 0.85 points to 29.15.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 92 to 85 and 10 ended unchanged.

Crude oil for December delivery was down 1.60% or 0.96 to $58.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 1.35% or 0.95 to hit $69.17 a barrel, while the December Gold Futures contract rose 0.01% or 0.10 to trade at $1201.40 a troy ounce.

EUR/SAR was up 0.39% to 4.2245, while USD/SAR fell 0.01% to 3.7511.

The US Dollar Index Futures was down 0.20% at 97.19.

Stocks - U.S. Futures Point to Rebound on Earnings, Easing Trade Concerns

Investing.com - U.S. futures were higher on Tuesday as concerns over trade tensions between the U.S. and China eased and strong quarterly earnings for Home Depot boosted the Dow.

The S&P 500 futures rose 16 points or 0.59% as of 6:48 AM ET (11:38 GMT) while Dow futures were up 127 points, or 0.50%. Meanwhile tech heavy Nasdaq 100 futures increased 57 points, or 0.83%.

Concerns over trade tensions eased on news that China’s trade negotiator could head to Washington ahead of a meeting of the two countries leaders later this month.

The South China Morning Post reported that Liu He could visit Washington as part of the preparations for the talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Argentina.

The U.S. has imposed tariffs of more than $250 billion Chinese imports, which China has retaliated against, as the two have failed to come up with a trade agreement.

Home Depot (NYSE:HD) was among the top gainers in premarket trading, rising 2.27% after the retailers earnings beat forecasts.

Apple (NASDAQ:AAPL) edged up 0.22% after tumbling 5% on Monday amid worries over signs of weak iPhone demand.

Snap Inc (NYSE:SNAP) gained 5.11% after news that its vice president of content is leaving the company.

General Electric (NYSE:GE) increased 0.75% while Microsoft (NASDAQ:MSFT) was up 0.43% and Tesla (NASDAQ:TSLA) rose 0.90%.

Elsewhere Perrigo Co (NYSE:PRGO) fell 0.98%, while Procter & Gamble Company (NYSE:PG) dipped 0.20% and Halliburton (NYSE:HAL) down 0.47%.

On the central banking front, Minneapolis Fed President Neel Kashkari speaks at 10:00 AM ET (15:00 GMT), while Fed Governor Lael Brainard is speaking at the Philadelphia Fed’s fintech conference, along with Philly Fed President Patrick Harker. San Francisco Fed President Mary Daly is due to speak later in the day.

In commodities, gold futures fell 0.24% to $1,198.40 a troy ounce while crude oil futures were down 2.10% to $58.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was holding near 17-month highs at 97.30.

Home Depot Shares Higher on Earnings Beat

Investing.com - Home Depot, the world's largest home improvement retailer reported third quarter earnings that beat analysts' expectations on Tuesday and raised its sales outlook for the full year.

Shares of the company (NYSE:HD) were higher in premarket trade following the report.

The firm reported earnings per share of $2.51 on revenue of $26.3 billion compared with net earnings of $2.2 billion, or $1.84 per diluted share, in the same period a year earlier. Diluted earnings per share increased 36.4% from the same period in the prior year, the company said.

Analysts polled by Investing.com forecast EPS of $2.27 on revenue of $26.25 billion.

Based on its year-to-date performance, Home Depot updated its fiscal 2018 guidance, saying it now expects sales growth of approximately 7.2%.

For the year, Home Depot shares are down 5.33%, under-performing the S&P 500 which is up 1.58% year to date.

Home Depot follows other major Services sector earnings this month

On October 25, Amazon.com reported third quarter EPS of $5.75 on revenue of $56.58B, compared to forecasts of EPS of $3.08 on revenue of $57.11B.

Alibaba earnings missed analyst's expectations on November 2, with second quarter EPS of $1.4 on revenue of $85.15B. Investing.com analysts expected EPS of $6.85 on revenue of $52,109M

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Indonesia stocks higher at close of trade; IDX Composite Index up 1.01%

Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Financials, Miscellaneous Industry and Trade sectors led shares higher.

At the close in Jakarta, the IDX Composite Index added 1.01%.

The best performers of the session on the IDX Composite Index were Shield On Service Tbk PT (JK:SOSS), which rose 25.00% or 250 points to trade at 1250 at the close. Meanwhile, Transcoal Pacific Tbk PT (JK:TCPI) added 18.21% or 1375 points to end at 8925 and Intan Baruprana Finance Tbk (JK:IBFN) was up 18.11% or 46 points to 300 in late trade.

The worst performers of the session were Buana Finance Tbk (JK:BBLD), which fell 19.60% or 98 points to trade at 402 at the close. Bayu Buana Tbk (JK:BAYU) declined 11.76% or 260 points to end at 1950 and Equity Development Investment (JK:GSMF) was down 10.62% or 12 points to 101.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 192 to 170 and 141 ended unchanged.

Shares in Shield On Service Tbk PT (JK:SOSS) rose to all time highs; rising 25.00% or 250 to 1250. Shares in Buana Finance Tbk (JK:BBLD) fell to 5-year lows; falling 19.60% or 98 to 402. Shares in Transcoal Pacific Tbk PT (JK:TCPI) rose to all time highs; rising 18.21% or 1375 to 8925.

Crude oil for December delivery was down 2.35% or 1.41 to $58.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 2.22% or 1.56 to hit $68.56 a barrel, while the December Gold Futures contract fell 0.24% or 2.90 to trade at $1198.40 a troy ounce.

USD/IDR was down 0.02% to 14846.0, while AUD/IDR rose 0.16% to 10685.90.

The US Dollar Index Futures was up 0.07% at 97.45.

German ZEW Economic Sentiment Index Improves Slighly in November

Investing.com - The mood among German investors improved slighly in November, a survey showed on Tuesday.

The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index rose to negative 24.1 from negative 24.7 in November. That was compared to the consensus forecast for a reading of negative 24.2.

A separate gauge measuring investors’ assessment of the economy’s current conditions fell to 58.2 from 70.1 last month. That compared with the consensus forecast for a decrease to 65.0.

Meanwhile the ZEW economic sentiment for the euro zone slumped to negative 22.0 from negative 19.4 last month.

Dollar Holding Near 2018 Highs, Pound Rebounds

Investing.com - The dollar was trading near the highest levels of the year on Tuesday, amid expectations for higher U.S. interest rates, while the pound rebounded from one-and-a-half week lows despite ongoing Brexit uncertainty.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at 97.41 by 04:05 AM ET (09:05 AM GMT), within striking distance of Monday’s 16-month highs of 97.53.

Demand for the dollar was underpinned after the Fed indicated last week that rates are likely to rise in December and again in early 2019, with the U.S. economy looking strong on almost every front.

The dollar was trading close to five-week highs against the yen, with USD/JPY up 0.23% to 114.10.

Market sentiment was boosted by hopes that trade tensions between the U.S. and China would ease following reports that China's top trade negotiator was preparing to visit the U.S. ahead of a meeting between the two countries' leaders later this month.

The pound regained ground, with GBP/USD rising 0.33% to 1.2891, but gains were held in check amid fears that Britain could crash out of the European Union without a Brexit deal.

The pound hit a low of 1.2826 against the dollar on Monday, the weakest level since Nov. 1.

The euro edged higher, with EUR/USD inching up 0.1% to 1.1230. The single currency struggled to make headway with investors focused on the ongoing row between Brussels and Rome over Italy’s budget.

The European Commission rejected Italy's 2019 budget last month, because it was in breach of European fiscal rules and Italy’s government has until later Tuesday to submit a revised budget plan.

Japan stocks lower at close of trade; Nikkei 225 down 2.06%

Investing.com – Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Construction and Mining sectors led shares lower.

At the close in Tokyo, the Nikkei 225 declined 2.06%.

The best performers of the session on the Nikkei 225 were Toshiba Corp. (T:6502), which rose 4.13% or 150.0 points to trade at 3785.0 at the close. Meanwhile, Softbank Corp. (T:9984) added 1.87% or 164.0 points to end at 8941.0 and Toyobo Co., Ltd. (T:3101) was up 1.24% or 20.0 points to 1631.0 in late trade.

The worst performers of the session were Taiyo Yuden Co., Ltd. (T:6976), which fell 7.27% or 169.0 points to trade at 2156.0 at the close. Mitsui Mining and Smelting Co. (T:5706) declined 6.61% or 171.0 points to end at 2416.0 and JGC Corp. (T:1963) was down 6.32% or 119.0 points to 1765.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2949 to 606 and 135 ended unchanged.

Shares in Toshiba Corp. (T:6502) rose to 52-week highs; gaining 4.13% or 150.0 to 3785.0. Shares in Mitsui Mining and Smelting Co. (T:5706) fell to 52-week lows; losing 6.61% or 171.0 to 2416.0. Shares in JGC Corp. (T:1963) fell to 52-week lows; losing 6.32% or 119.0 to 1765.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 5.22% to 19.60 a new 1-month low.

Crude oil for December delivery was down 1.22% or 0.73 to $59.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 0.93% or 0.65 to hit $69.47 a barrel, while the December Gold Futures contract fell 0.06% or 0.70 to trade at $1202.80 a troy ounce.

USD/JPY was up 0.22% to 114.09, while EUR/JPY rose 0.45% to 128.28.

The US Dollar Index Futures was down 0.03% at 97.35.

China stocks higher at close of trade; Shanghai Composite up 0.93%

Investing.com – China stocks were higher after the close on Tuesday, as gains in the Media, Gas, Water&Multiutilities and Travel&Leisure sectors led shares higher.

At the close in Shanghai, the Shanghai Composite rose 0.93%, while the SZSE Component index added 1.68%.

The best performers of the session on the Shanghai Composite were Zhongmin Energy Co Ltd (SS:600163), which rose 10.13% or 0.310 points to trade at 3.370 at the close. Meanwhile, Guangdong Meiyan Jixiang Hydropower Co Ltd (SS:600868) added 10.11% or 0.280 points to end at 3.050 and Yaxing Chem (SS:600319) was up 10.10% or 0.500 points to 5.450 in late trade.

The worst performers of the session were Qijing Machinery Co Ltd (SS:603677), which fell 3.29% or 0.53 points to trade at 15.58 at the close. Fujian Fynex Textile Science&Technology Co Ltd (SS:600493) declined 2.51% or 0.170 points to end at 6.610 and Zhonglu Co Ltd A (SS:600818) was down 2.44% or 0.270 points to 10.780.

The top performers on the SZSE Component were Nanjing Huadong Electronics Information&Technology Co Ltd (SZ:000727) which rose 10.32% to 1.71, Yotrio Group Co Ltd (SZ:002489) which was up 10.10% to settle at 3.27 and Maanshan Fangyuan Slewing Ring Co Ltd (SZ:002147) which gained 10.08% to close at 6.99.

The worst performers were Jingwei Textile Machinery Co Ltd (SZ:000666) which was down 10.02% to 14.64 in late trade, Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which lost 5.78% to settle at 15.32 and Yantai Jereh Oilfield Services Group Co Ltd (SZ:002353) which was down 2.83% to 20.94 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1279 to 167 and 27 ended unchanged.

Shares in Jingwei Textile Machinery Co Ltd (SZ:000666) fell to 3-years lows; falling 10.02% or 1.63 to 14.64.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 30.52.

Gold Futures for December delivery was up 0.16% or 1.90 to $1203.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 1.23% or 0.74 to hit $59.19 a barrel, while the January Brent oil contract fell 0.88% or 0.62 to trade at $69.50 a barrel.

USD/CNY was down 0.13% to 6.9548, while EUR/CNY rose 0.07% to 7.8174.

The US Dollar Index Futures was up 0.03% at 97.41.