Tuesday saw uneven trading in the Asian markets following slight overnight advances in Wall Street stocks ahead of the Fourth of July holiday.
According to a report from the Institute for Supply Management, manufacturing fell in the US for the eighth consecutive month in June.
Domestically, the Indian market is expected to open flat after the major equity indices reached new highs, with the Sensex surpassing 65,000 and the Nifty ending above 19,300, supported by encouraging economic data, consistent inflows of foreign capital, and bullish global cues.
Asian Markets
The Topix dipped 0.45% and the Nikkei 225 fell 0.72% in Japan. The Kosdaq increased 0.13% while the Kospi in South Korea decreased.
Futures for the Hang Seng index in Hong Kong were trading at 19,176, down about 130 points.
S&P/ASX 200 in Australia was unchanged before to the central bank’s rate announcement.
Gift Nifty was up 1.50 points, or 0.01%, at 19,440.50 at the time, signalling a flat opening for the Indian markets.
Wall Street
The surge in Tesla and the strength in bank shares helped US markets close higher on Monday in a session that was truncated due to the holiday.
At 34,418.47, the Dow Jones Industrial Average increased 10.87 points, or 0.03%. At 4,455.59, the S&P 500 increased 5.21 points, or 0.12%. At 13,816.77, the Nasdaq Composite increased by 28.85 points, or 0.21%.
Tesla’s stock price increased 6.9% after the firm announced record second-quarter sales, which fueled increases among rivals and battery suppliers.
Major banks’ shares rose after they increased dividends and passed the yearly health inspection by the Federal Reserve. According to Reuters, the S&P 500 banks index finished up 1.5% while Wells Fargo shares increased 1.7% and Citigroup shares increased 1.5%.
Due to Independence Day, US markets will be closed on Tuesday.
Europe
The pan-European STOXX 600 index fell 0.2% as European markets closed the day largely down.
Germany’s DAX dropped 0.4% to 16,081.04 and Britain’s FTSE 100 slid 0.1% to 7,527.26. The CAC 40 in France decreased 0.2% to 7,386.70.
Energy
As markets evaluated supply issues from cuts for August by major exporters Saudi Arabia and Russia against economic data that suggested poor crude demand, the price of oil remained stable.
West Texas Intermediate crude in the US increased by 0.3% to $70.06 while Brent crude futures increased by 0.3% to $74.87 a barrel.