Morning all
Thanks to Buff for yesterday and AM crew
Poor consumer confidence figures and weaker energy shares weighed on US markets after they returned from their Memorial Day Holiday.
SPT futures are 24 points lower at 5358
The major averages ended well off session lows, with the Nasdaq composite closing higher to post monthly gains of 3.6 percent.
Traders attributed the intraday decline to profit-taking after last week's gains and some disappointing reads on consumer confidence and regional manufacturing.
"Going into June I think there's a lot of risk on the table," said John Caruso, senior market strategist at RJO Futures. Both OPEC and the European Central Bank are due to meet this week, ahead of the Federal Reserve meeting and the "Brexit" vote scheduled for later in the month.
Declines in oil prices also weighed. WTI futures settled down 23 cents, or 0.47 percent, at $49.10 a barrel, but still posting its first four-month win streak since 2011.
Energy, materials and consumer staples closed about half a percent lower as the greatest decliners in the S&P 500, which failed to hold above the psychologically key 2,100 level in the close. The index has closed above that level only twice so far this year in April.
S&P -.1%
Nasdaq + .24%
"We're obviously running into some technical resistance on the S&P 500. This market's been following the technicals very closely for the last few months," said Randy Frederick, managing director of trading and derivatives at Charles Schwab. 1
Gold prices ended near unchanged Tuesday, after hitting a 3.5-month low overnight. The metal is finding buying interest at the $1,200 level, after it tested and held support there over the holiday weekend,
Gold $1215
HUI +1%
AUD Gold $1680
AUD .7233
On today
Local: Australian Gross Domestic Product figures released at 12.30pm
Overseas: Chinese PMI released at 12.45
1 CNBC
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