GLOBAL MARKETS-Stocks retreat from record as vaccine hopes give way to virus concern

(Updates to open of U.S. markets, changes dateline; previous
LONDON)
* World stocks pull back from record level
* Oil retreats after Monday jump
* Dollar weakens on rising case numbers, yuan rising

By Chuck Mikolajczak
NEW YORK, Nov 17 (Reuters) - A gauge of global stocks
retreated from a record on Tuesday as rising coronavirus cases
raised concerns over fresh lockdown measures and dented recent
optimism over promising vaccine trial results.
U.S. stocks were lower in morning trade, a day after the Dow
Industrials notched a record, as several states imposed new
restrictions on gatherings amid climbing COVID-19 cases and the
onset of colder weather. Losses on the Nasdaq were curbed, however, by 8.73% jump in
Tesla TSLA.O on news the electric car maker will be added to
the S&P 500 in December.
Investors cheered positive vaccine trial results from
Moderna MRNA.O on Monday, the second upbeat report on a
coronavirus trial in a week.
Still, analysts have warned that absent a new fiscal
stimulus package, the economy is likely to falter until a
vaccine is available for distribution.
Data on Tuesday showed retail sales increased less than
forecast in October, with the potential for even further
slowing. Factory production accelerated but remained well below
levels prior to the pandemic.
"There is conflict for the market between the near-term
direction to the economy, which is troubled with the very high
COVID-19 rates, and the future for the market, and that's in
which vaccines could provide an end to the restrictions," said
Rick Meckler, partner at Cherry Lane Investments in New Vernon,
New Jersey.
The Dow Jones Industrial Average .DJI fell 231.74 points,
or 0.77%, to 29,718.7, the S&P 500 .SPX lost 16.07 points, or
0.44%, to 3,610.84 and the Nasdaq Composite .IXIC dropped 0.87
points, or 0.01%, to 11,923.26.
European shares were also lower, as the STOXX 600 dipped
after hitting its highest level in more than eight months on
Monday, as Sweden moved to restrict the size of public
gatherings and a British medical adviser suggested strengthening
the three-tier system of restrictions when the full lockdown in
England ends. The pan-European STOXX 600 index .STOXX lost 0.28% and
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.15% after closing at a record 613.61 in the prior session.
U.S. Treasury yields fell in the wake of the retail sales
report as it underscored the possibility of a slowdown in the
fourth quarter. Benchmark 10-year notes US10YT=RR last rose 9/32 in price
to yield 0.8783%, from 0.906% late on Monday.
The U.S. dollar remained soft, touching its lowest level in
a week, with expectations for continued weakness on expectations
for more fiscal and monetary stimulus as well as optimism over a
potential vaccine.
The dollar index =USD fell 0.149%, with the euro EUR= up
0.19% to $1.1875.
China's central bank on Tuesday lifted its offshore yuan to
its highest since June 2018, underpinned by solid gains a day
earlier on the back of strong economic data. prices fell back, as short-term demand concerns
overshadowed vaccine hopes and the possibility of tighter supply
policy from OPEC+ in 2021. U.S. crude CLc1 recently fell 0.94% to $40.95 per barrel
and Brent LCOc1 was at $43.37, down 1.03% on the day.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
China's Yuan is surging https://tmsnrt.rs/3pECkSL
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