U.S. indexes open slightly higher, lose some ground after data
U.S. indexes mixed: Nasdaq, S&P lower, Dow edges up
Materials lead S&P 500 sector gainers; Financials weakest group
Euro STOXX 600 index up ~0.5%
Dollar down; Bitcoin dips; gold up, crude rises ~2%
U.S. 10-Year Treasury yield edges up to ~3.75%
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U.S. INDEXES OPEN SLIGHTLY HIGHER, LOSE SOME GROUND AFTER DATA
Wall Street indexes opened slightly higher on Tuesday, but then the S&P 500 .SPX and Nasdaq .IXIC lost ground after consumer confidence data. Earlier a Federal Reserve official had voiced some concerns about inflation, while other data showed that housing prices edged up.
The Conference Board data showed the U.S. September consumer confidence index at 98.7 versus the consensus expectation for 104.0, but August was revised up to 105.6 from 103.3.
U.S. Federal Reserve Governor Michelle Bowman said key inflation measures remain "uncomfortably above" the Fed's 2% target, warranting caution. While Bowman agreed it's time for the Fed to reset monetary policy, she dissented to last week's half-point rate reduction in favor of a quarter-point cut as "the upside risks to inflation remain prominent."
On the data front, U.S. single-family home prices edged up in July, but the overall trend is slowing amid improving supply, which together with easing mortgage rates could make buying a house more affordable.
However, among the S&P 500's 11 major sectors only five are were advancing with materials .SPLRCM leading the charge with a more than 1% gain. Mining stocks are getting a boost after China rolled out a stimulus package.
Financials are the biggest laggard, off 0.5%, with credit card companies Visa V.N, Mastercard MA.N and Discover Financial Services DFS.N the biggest percentage decliners.
Bloomberg News had reported on Monday that the U.S. Department of Justice plans to file a lawsuit against Visa, alleging that the world's largest payments network operator company illegally monopolized the country's debit card market.
Here is your snapshot from around 10:18 a.m ET/ 1418 GMT:
(Sinéad Carew)
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FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
BENCHMARK TREASURY YIELD PERKS UP, AWAITS PCE - CLICK HERE
ANOTHER CUT TO LUXURY EARNING - CLICK HERE
MORE LOVE FOR US SMALL CAPS - CLICK HERE
CHINA POP FOR MINERS, LUXURY AND AUTOS - CLICK HERE
DAX FUTURES HIT RECORD HIGH - CLICK HERE
NO BAZOOKA, BUT CHINA'S LATEST STIMULUS IS A RELIEF - CLICK HERE
Wall Street indexes mixed https://tmsnrt.rs/3TINaYO
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