Overnight in the Wall street the futures follows a rebound session on Monday. At the close in NYSE, the Dow Jones Industrial Average rose 1.18%, while the S&P 500 index gained 1.27%, and the NASDAQ Composite index added 1.87%.
Asia-Pacific were mostly higher on Tuesday as investors watched China’s August economic data released earlier in the day. Mainland Chinese stocks edged higher by their close, with the Shanghai Composite up 0.51% to about 3,295.68 while the Shenzhen component advanced 0.933% to around 13,143.46. Hong Kong’s Hang Seng Index gained 0.32%. South Korea’ Kospi finished its trading day 0.65% higher at 2,443.58.
In Southeast Asia, the Straits Times index in Singapore advanced 0.64%. The S&P/ASX 200 closed fractionally lower at 5,894.80. Japanese stocks also declined on the day, as the Nikkei 225 slipped 0.44% to 23,454.89 while the Topix index shed 0.62% to 1,640.84.
European stock markets opened mixed on Tuesday, The DXA futures contract in Germany traded 0.4% higher, CAC 40 futures in France dropped 0.1%, while the FTSE 100 futures contract in the U.K. fell 0.4%. U.S. stock futures ticked slightly higher early Tuesday morning Dow and S&P 500 both gained more than 1% .
On the data front, U.K. Average Earnings Index +Bonus The Average Earnings Index measures change in the price businesses and the government pay for labor, including bonuses. Germany ZEW Economic Sentiment The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook.
On the Economic Front, Data released earlier Tuesday showed continuous progress in China’s economic recovery in August, with retail sales increasing 0.5% year-on-year and industrial production increasing 45.6% year-on-year. Both figures beat expectations, with retail sales, in particular, reporting their first increase in 2020.
In the currency markets, the Dollar Index rose 0.1% to 92.838. EUR/USD dropped 0.2% to 1.1889, while GBP/USD edged up 0.1% to 1.2858. USD/TRY inched up 0.1% to 7.4861. USD/CNY traded lower 0.3% to 6.7856. AUD/USD inched up 0.35% to 0.7290 and NZD/USD up 0.19% to 0.67007, at the time of writing.
In the Commodity Markets, Gold rose on Tuesday morning in Asia as the dollar dragged down. The precious metal pushed up by 1% after the greenback had its worst day in a fortnight. Trading in Asia pushed gold even higher as the currency differential came into full effect, making gold cheaper for currencies other than the dollar.Gold futures were up 0.61% to $1,975.75 by 12:30 a 12-day high. Elsewhere, Silver gained 0.52% to 27.17 per ounce, platinum rose 1.39% to 972 and palladium climbed 0.63% to 2,3391.1, at the time of writing.
Oil prices edged lower Tuesday, weighed by worries about the outlook for global fuel demand ahead of a meeting later this week of the Organization of Petroleum Exporting Countries and its allies.U.S. Crude futures traded 0.1% lower at $37.24 a barrel, while the international benchmark Brent contract fell 0.2% to $39.55.
In the Cryptocurrency Markets, BTC/USD inched up 0.33% and was trading at $10,690.4.07 Ethereum edged down 0.53% to $374.24. Litecoin up by 2.07% to 44.707, and Dash inched down 0.55% to $74.956. Ripple inched up 0.17% to $0.2409, at the time of writing.
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