U.S. stocks wobbled Tuesday, attempting to stabilize after worries about the coronavirus pandemic sent markets tumbling to start the week. The Dow Jones Industrial Average fell 50 points, or 0.2%, to 27631 shortly after the opening bell. The S&P 500 was unchanged and the Nasdaq Composite advanced 0.2%.
Durable-Goods Orders Rise for Fifth Consecutive Month. Orders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are recovering from supply-chain disruptions and shutdowns related to the coronavirus pandemic. Stock Futures Tick Higher Amid a Flurry of Earnings Reports.
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Reuters Live Markets blog: By Elizabeth Howcroft. European equities recovered some of their early losses on Tuesday and futures pointed to a recovery on Wall Street, after a wave of risk aversion swept markets at the start of the week.
U.S. stock futures wobbled Tuesday, following the S&P 500' s deepest fall in over a month, as investors assessed the likely economic fallout of the rise in coronavirus infections and the pace of recovery for blue-chip American businesses. Futures tied to the S&P 500 were largely flat after the benchmark retreated 1.9% at the start to the week. Contracts tied to the Dow Jones Industrial Average edged up 0.2%.
* HSBC (HSBC) surges on signalling overhaul. * BP reverses gains, oil sector at 7-month low. By Sruthi Shankar and Susan Mathew. European stocks extended losses on Tuesday as worries about the economic fallout of tighter coronavirus restrictions on the continent overshadowed some better-than-expected earnings reports.
* Lira hits a second consecutive record low. * Russia announces new rules to halt coronavirus spread. * MSCI EM stocks index flat. By Ambar Warrick. Turkey's lira hit a record low on Tuesday and most other emerging market currencies in Europe, Middle East and Africa fell as a rise in coronavirus infections and little progress in U.S. stimulus talks dampened demand for risk-linked assets.
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Reuters Live Markets blog: By Elizabeth Howcroft.
Japanese shares ended nearly flat on Tuesday, as strong earnings from camera and copy machine maker Canon helped counter weakness in travel and real estate stocks following a lower finish on Wall Street.
Wall Street faces a rocky run-up to Election Day, with mounting worries about the outcome in Washington adding to nerves about the coronavirus pandemic and fading chances of stimulus. The Cboe Volatility Index, Wall Street's "fear gauge," surged to 32.46, its highest closing level since Sept. 3., while the S&P 500 had its biggest one-day drop, with investors reluctant to buy ahead of the vote.
Wall Street faces a rocky run-up to Election Day, with mounting worries about the outcome in Washington adding to nerves about the coronavirus pandemic and fading chances of stimulus. The Cboe Volatility Index, Wall Street's "fear gauge," surged to 32.46, its highest closing level since Sept. 3., while the S&P 500 had its biggest one-day drop, with investors reluctant to buy ahead of the vote.
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