US Stocks ended mixed Tuesday, giving up some gains, as the market faltered after a triple-digit rally in the previous session.
The pullback after a day of choppy trade showed investors were cautious after a Monday jump that pushed the blue-chip Dow to its highest level in 13 months.
After reversing several times, the Dow Jones industrial average (INDU) closed up 20 points, or 0.2%, to close at 10,246.97.
Some analysts are saying "After a rally like Monday's, there's always a chance for a pullback, but I think we'll tread water. Overall, the trend continues to be higher. We see that stimulus is still needed. And as long as money is cheap, people will continue to invest."
LONDON - European stock markets showed little movement on Tuesday.
London's FTSE 100 fell 4.63 points, or 0.09 per cent, to close at 5,230.55 points.
FRANKFURT - The DAX 30 fell 6.52 points, or 0.12 per cent, to close at 5,613.20 points, with the market dragged down by car maker Volkswagen.
PARIS - The CAC 40 was flat, rising a slender 0.1 point to end the session at 3,785.39 points.
Oil prices fell on Tuesday as Hurricane Ida was downgraded to a tropical storm, easing worries about the potential threat to petroleum installations in the Gulf of Mexico. Traders also digested the latest oil demand and price forecasts from the Paris-based International Energy Agency (IEA).
At 0658 AEDT, New York's main contract, light sweet crude oil for delivery in December, had fallen $US0.52 to $US78.91 a barrel.
The Australian market has received mixed leads from overseas, with Wall Street's key stock indices and commodities prices mostly lower, although the Dow Jones Industrial Average turned positive in afternoon trade and the price of gold was higher.
At 0656 AEDT on the Sydney Futures Exchange, the December share price index contract was 22 points higher at 4,756. In economics news on Wednesday, the Australian Bureau of Statistics publishes lending finance data for September at 1130 AEDT.
Also due is the Westpac-Melbourne Institute survey of consumer sentiment for November.
December gold rose $US1.10 to $US1,102.50 per fine ounce, according to preliminary settlement figures from the New York Mercantile Exchange.
December silver had fallen 25.8 US cents to $US17.222 per ounce, and December copper fell 0.6 US cents to $2.9615 per pound, also at preliminary settlement.
Gold up $1.10 to US$1102.50.30 an ounce Silver down 25.8 US cent to US$17.222 an ounce Copper down 0.6c at US$2.9615 a pound
