Dow 20979 minus 2
S&P2400 minus 1.65
DAX 12804 minus 2.51
FTSE 7522 plus 67
OIL 48.57 minus 0.28
GOLD 1237 plus 8.49
AUD74.29
SPI futures plus 1
Silvia's mother...........40c for the next three minutes
The S&P 500 retreated from records on Tuesday as crude oil pulled back from recent two-week highs and a series of disappointing retail earnings hurt the consumer sector.
The S&P 500 was down 0.07%, falling back from a record close achieved a day earlier, while the Dow Jones Industrial Average slipped by 0.01%. The Nasdaq did manage to end at a record for its second day in a row after climbing 0.33% to 6,169.87.
Crude oil moved off session highs by the middle of the session Tuesday. Oil prices surged on Monday, reversing big dips seen last week and putting commodities at two-week highs, after energy ministers from Russia and Saudi Arabia surprised markets by calling for an extension to an oil production cap agreement.
An extension to the OPEC deal will be the main point of conversation when the 13 member countries meet in Vienna on May 25. The current agreement, established last November, is set to expire at the end of June.
The oil market has already reached a balance and the correction to a global supply glut will continue in the near term, the International Energy Agency said in its monthly report on Tuesday. The IEA held its demand growth forecast at 1.3 million barrels per day in 2017.
"The overall picture remains supportive, with first-quarter data showing only a slight residual surplus and stronger seasonal demand pointing to a clear third-quarter deficit just ahead," Tim Evan, energy futures specialist at Citi, wrote in a note.
West Texas Intermediate crude was down 0.2% at $48.74 a barrel on Tuesday. Oil traded above $49 earlier.
what we can expect
it seems that the markets have caught on to this "cut and paste" theme, and are just "cutting and pasting" the same numbers every day
one day we'll break out, up of down is the question,
cause it's half way through may, my 2c says up
the media seems all concerned about Donald Trump talking to the Russians and trying to paint him as a naughty boy, and yet, none of them were in the room at the time, so how would they know? and if he did talk to the Russians and warned them about a terrorist attack involving laptops and saved x amount of lives in the process, is that such a bad thing?
media wasnt too worried when Barry Obama spoke to a Russian and said he can't say much until after the election
