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

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

October was the index's worst month since May 2012 - a loss of 7.5 percent - as shares globally took a battering on a number of factors ranging from trade wars to concerns about the global economy and higher USA interest rates. Oil fell for a sixth straight day.

S&P 500 Index futures lost 0.2 per cent.

For this week, the main concern in global markets will continue to remain politics and central banks. Shares in Asia fell following Friday's rally and after White House economic adviser Larry Kudlow downplayed the potential for a quick trade deal between the USA and China.

Caution prevailed in financial markets Tuesday, with few standout moves as investors braced for any fallout from the American midterm elections, 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. "There's not a great deal of value anywhere in the market, and that's why were seeing increased volatility".

Treasury yields slipped, however the British pound gained against the dollar for the third day out of four, based on the signs that there was progress being made on the Brexit negotiations.

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

Futures on the Dow, S&P 500 and Nasdaq drifted, while telecom and healthcare companies pushed the Stoxx Europe 600 Index higher in relatively thin trading. Asian markets closed mostly down, which also pulled down emerging markets' shares and currencies.

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The S&P 500 Index rose 0.6 percent as of 4 p.m.in NY; the Nasdaq Composite slumped 0.4 percent; the Dow Jones Industrial Average rose 0.8 percent.

The Stoxx Europe 600 Index fell 0.2 percent.

More news: USA exempts Chabahar port-related activities from its sanctions

The MSCI Emerging Market Index declined 0.4 percent, the first retreat in a week.

In the bonds market, the yield on the 10-year Treasury in the USA dropped to 3.19%, Germany's 10-year Treasury yields remained nearly the same at 0.42% and the UK's 10-year yield went up to 1.5%.

Onshore, China's yuan strengthened past 6.95 per dollar.

The euro climbed 0.2 percent to $1.1409.

The Japanese yen was little changed at 113.2 per dollar.

Japan's Nikkei bucked the trend and slipped 1 percent following two days of big gains.

The major USA averages pushed higher, but trading on the Dow Jones Industrial Average was about 18 percent below average.

West Texas Intermediate crude fell 0.5 percent to $62.80 a barrel.

Copper decreased 1.9 percent to $2.755 a pound.

-With assistance from Cormac Mullen, Christopher Anstey, Eddie van der Walt and Samuel Potter.

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