International markets were mainly weaker overnight, although US markets managed a late rally to trim losses.
In Europe the FTSE shed 31 points (-0.6%) to settle at 5493, whilst the CAC (-0.4%) and DAX (-1.3%) also lost ground.
Stateside, the Dow Jones gave up 25 points (-0.2%) to settle at 12602, after earlier being down 177 points, whilst the S&P (-0.2%) and NASDAQ (-0.9%) also closed lower.
US stocks rallied in the final hour of trading as optimism for possible aid to debt-strapped European countries cut into losses that followed another weak round of US economic data and the Supreme Court’s health-care decision.
Weekly jobless claims fell slightly more than expected last week, though the prior week’s figure was revised higher.
Separately, a reading on June manufacturing activity showed that a broad swath of the Western US was more sluggish than expected.
The Aussie dollar slipped slightly and is just holding above parity, currently buying SU$1.002.
The US dollar edged higher against the euro, but fell against the yen. The yield on the benchmark 10-year Treasury bond fell to 1.575%.
Crude oil futures fell 3.1% to settle at $77.69 a barrel, while gold futures dropped 1.8% to settle at $1549.70 a troy ounce.
Today’s session will bring us data in the form of private sector credit, 11:30am, AEST.
Written by: marketpulse Other posts from: marketpulse
Posted in Market Analysis, Morning
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