U.S. Futures Slip With Europe Stocks; Oil Steadies: Markets Wrap

U.S. Stocks Climb as Dollar Slips Amid Election Markets WrapMore

U.S. Stocks Climb as Dollar Slips Amid Election Markets WrapMore

-China trade deal receded.

Shares in Japan and Hong Kong underperformed and United States equity-index futures dropped as optimism on a trade breakthrough at the end of last week tempered after White House economic adviser Larry Kudlow downplayed the potential for a quick deal. Treasuries edged higher and the dollar climbed, while the pound strengthened on hopes of a Brexit breakthrough. However, a rally in the banking sector as well as the energy sector pushed up the S&P 500. The STOXX Europe 600 Index remained in the green despite rather thin trading today.

Politics, geopolitics and central banks will all be in focus in a busy week for investors.

Caution prevailed in markets Tuesday, with few standout moves as investors braced for any fallout from the vote, particularly congressional races seen as a referendum on the policies of President Donald Trump.

Later this week on Thursday, the Federal Reserve policy meeting is scheduled to take place, wherein officials are not expected to change the benchmark interest rate, but are expected to give hints about what to look forward to in 2019.

Overall, in stocks, the S&P 500 Index went up by 0.3%, the STOXX Europe 600 Index also went up by 0.3% (making it its 6th straight day of gains) and the MSCI Emerging Market Index fell by 0.5%, which is its first drop in a week. NY time; the Nasdaq Composite added 0.8 percent.The Stoxx Europe 600 Index dipped 0.2 percent.The MSCI Emerging Market Index rose 0.2 percent. Emerging-market currencies and shares fell.

Globally, the price oil went back up as the sanctions on Iran were put back in place on Monday.

The yield on 10-year Treasuries was little changed at 3.2 percent.Germany's 10-year yield was little changed at 0.43 percent.Britain's 10-year yield rose three basis points to 1.53 percent. The euro traded at US$1.1388 while the pound gained 0.1 per cent to US$1.2988.

- Trump scheduled to meet Vladimir Putin on Armistice Day celebrations on November 11.