Equities
Asian stocks traded mixed on Tuesday. The Nikkei fell .6% to 9033, as the government cut its growth outlook due to economic sluggishness across the globe, and the Kospi eased .1% to 1916. On the gaining side, the Shanghai Composite rebounded .9% to 2073, the ASX 200 rose .4% to 4359, and the Hang Seng inched up .1% to 19812.
In Europe, markets fell while volume remained light. The CAC40 slumped .9% to 3432, the DAX dropped .6% to 7003, while the FTSE closed little changed. Economic data from Spain indicated the country remained in a recession, as GDP fell by .4% in the second quarter.
In the US, stocks ended little changed, on light volume. Investors are expected to remain on the sidelines until after the Bernanke’s speech from Jackson Hole on Friday. The Dow slipped .2% to 13103, the S&P 500 eased .1% to 1409, and the Nasdaq ticked up .1% to 3077.
Currencies
The dollar eased on Tuesday, but the currency markets continued to trade in narrow ranges. The euro gained .5% to 1.2566, the pound rose .2% to 1.5822, and the yen gained .3% to 78.50. The Canadian dollar edged up .2% to .9881, and the Australian dollar inched up .1% to 1.0378.
Economic Outlook
The Case-Shiller home price index unexpectedly rose by .5%, and the Richmond manufacturing index improved to -9 from -17.
Asian stocks traded mixed on Tuesday. The Nikkei fell .6% to 9033, as the government cut its growth outlook due to economic sluggishness across the globe, and the Kospi eased .1% to 1916. On the gaining side, the Shanghai Composite rebounded .9% to 2073, the ASX 200 rose .4% to 4359, and the Hang Seng inched up .1% to 19812.
In Europe, markets fell while volume remained light. The CAC40 slumped .9% to 3432, the DAX dropped .6% to 7003, while the FTSE closed little changed. Economic data from Spain indicated the country remained in a recession, as GDP fell by .4% in the second quarter.
In the US, stocks ended little changed, on light volume. Investors are expected to remain on the sidelines until after the Bernanke’s speech from Jackson Hole on Friday. The Dow slipped .2% to 13103, the S&P 500 eased .1% to 1409, and the Nasdaq ticked up .1% to 3077.
Currencies
The dollar eased on Tuesday, but the currency markets continued to trade in narrow ranges. The euro gained .5% to 1.2566, the pound rose .2% to 1.5822, and the yen gained .3% to 78.50. The Canadian dollar edged up .2% to .9881, and the Australian dollar inched up .1% to 1.0378.
Economic Outlook
The Case-Shiller home price index unexpectedly rose by .5%, and the Richmond manufacturing index improved to -9 from -17.