Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

New Zealand/Australia Morning Call-Global markets

Published 15/03/2017, 05:06 am
© Reuters.  New Zealand/Australia Morning Call-Global markets
UK100
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JP225
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07:03 / 1803 GMT ---------------------------------------------------------------- Stock Markets

NetChng

NetChng S&P/ASX 200

5,759.14 +1.79 NZSX 50

7,177.09 -17.7 DJIA

20,831.57 -49.91 Nikkei

19,609.50 -24.25 NASDAQ

5,844.51 -31.28 FTSE

7,357.85 -9.23 S&P 500

2,363.56 -9.91 Hang Seng

23,827.95 -1.72 SPI 200 Fut

5,743.00 -19.00 STI

3,143.40 -3.75 SSEC

3,238.62 +1.60 ---------------------------------------------------------------- Bonds

NetChg

NetChg AU 10 YR Bond

2.928 -0.014 US 10 YR Bond

2.593 -0.014 NZ 10 YR Bond

3.385 +0.010 US 30 YR Bond

3.170 -0.022 ---------------------------------------------------------------- Currencies

1700GMT

1700GMT AUD US$

0.7564 0.7557 NZD US$

0.6925 0.6915 EUR US$

1.0620 1.0644 Yen US$

114.66 114.99 ---------------------------------------------------------------- Commodities Gold (Lon)

1,204.60

Silver (Lon)

16.93 Gold (NY)

1,203.55

Light Crude

47.58 TRJCRB Index

181.91 -1.24 ---------------------------------------------------------------- Overnight market action with latest New York figures.

EQUITIES

NEW YORK - U.S. stocks drifted lower on Tuesday as oil prices fell for the sixth straight day and investors held off from making big bets ahead of a widely expected interest rate hike.

At 12:34 p.m. ET (1634 GMT), the Dow Jones Industrial Average .DJI was down 54.03 points, or 0.26 percent, at 20,827.45, the S&P 500 .SPX was down 11.37 points, or 0.48 percent, at 2,362.1 and the Nasdaq Composite .IXIC was down 31.28 points, or 0.53 percent, at 5,844.51.

For a full report, double click on .N

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LONDON - After four days of gains, the pan-European STOXX 600 .STOXX index dropped 0.3 percent on Tuesday, weighed down by bank .SX7P and energy stocks .SXEP , as well as uncertainty over elections in the Netherlands and a U.S. interest rate decision.

For a full report, double click on .L

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TOKYO - Japanese stocks edged down on Tuesday ahead of an expected U.S. interest rate hike, while Toshiba shares were volatile, due to its delayed earnings filing and concerns about its restructuring plan.

The Nikkei share average .N225 shed 0.1 percent to 19,609.50.

For a full report, double click on .T

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FOREIGN EXCHANGE

NEW YORK - The dollar rose on Tuesday, bolstered by an expected interest rate increase by the U.S. Federal Reserve this week and helped by political risks in Europe amid Dutch and French elections that have pressured European currencies. The dollar index, which measures the greenback against a basket of six major currencies, climbed 0.2 percent to 101.54 .DXY .

For a full report, double click on USD/

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TREASURIES

NEW YORK - U.S. Treasury yields edged lower on Tuesday, with those on long-dated and benchmark bonds retreating from three-month highs touched overnight as traders neutralized bets on the eve of a Federal Reserve policy decision.

Benchmark 10-year Treasury notes US10YT=RR were last up 4/32 in price, with yields falling to 2.593 percent from 2.607 percent late on Monday.

For a full report, double click on US/

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COMMODITIES

GOLD

NEW YORK - Gold prices steadied on Tuesday, weighed down by expectations for a rise in U.S. interest rates that boosted the dollar but supported at the margins by political risks in Europe.

Spot gold XAU= edged up by 0.1 percent to $1204.53 an ounce at 1502 GMT as investors took a wait and see approach ahead of the Fed meeting. U.S. gold futures GCcv1 were up 0.1 percent at $1,204.30.

For a full report, double click on GOL/

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BASE METALS

LONDON - Copper prices climbed on Tuesday as funds bought on growing expectations of stronger demand from top consumer China, but a higher dollar ahead of Wednesday's decision on U.S. interest rates by the Federal Reserve capped gains.

The benchmark copper contract CMCU3 on the London Metal Exchange ended up 0.4 percent at $5,820 a tonne, nearly 3 percent above the two-month low at $5,652 hit last week.

For a full report, double click on MET/L

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OIL

NEW YORK - Oil prices slid to three-month lows on Tuesday after OPEC reported a rise in global crude stocks and a surprise jump in production from its biggest member, Saudi Arabia, that came despite output curbs by the group.

Brent LCOc1 futures, which fell below their 200-day moving average for the first time since late November, were down 89 cents, or 1.7 percent, at $50.46 a barrel by 12:47 p.m. EST (1647 GMT).

For a full report, double click on O/R

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