Gold bars to be exempt from tariffs, White House clarifies
* All 3 major U.S. stock averages dip
* Treasury yields slide, yield curve flattens
* Fed expected to cut rates, investors eye Powell remarks
(Updates to U.S. market open, changes dateline (was LONDON),
byline)
By Stephen Culp
NEW YORK, Oct 30 (Reuters) - Wall Street fell and U.S.
Treasury yields dipped as data showed weakening U.S. economic
growth and investors looked to an expected rate cut from the
Federal Reserve.
Investor sentiment was also muted in European and emerging
markets in the wake of underwhelming earnings and renewed
uncertainties in Britain, which is set to hold a parliamentary
election on Dec. 12. On Wall Street, a spate of mixed corporate earnings results
and a decline in the U.S. GDP growth rate kept investors
cautious. Market participants will scrutinize Fed chair Jerome
Powell's remarks later in the session for clues to future
economic policy.
The Commerce Department's advance reading of third-quarter
GDP USGDPA=ECI showed the U.S. economy expanded at a 1.9%
annual rate, down from 2% in the second quarter but exceeding
the 1.6% growth rate analysts expected. "It looks like a wait and see market," said Paul Nolte,
portfolio manager at Kingsview Asset Management in Chicago. "And
we're trading in a narrow range as investors see how the Fed
will thread the needle between being supportive of financial
markets if the economy weakens or allowing growth to develop
organically."
The Dow Jones Industrial Average .DJI fell 24.7 points, or
0.09%, to 27,046.72, the S&P 500 .SPX lost 3.54 points, or
0.12%, to 3,033.35 and the Nasdaq Composite .IXIC dropped
14.26 points, or 0.17%, to 8,262.59.
The pan-European STOXX 600 index .STOXX lost 0.08% and
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.14%.
Emerging market stocks lost 0.43%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.31%
lower, while Japan's Nikkei .N225 lost 0.57%.
Treasury yields were lower following the U.S. GDP data.
Benchmark 10-year notes US10YT=RR last rose 11/32
in price to yield 1.7979%, from 1.835% late on Tuesday.
The 30-year bond US30YT=RR last rose 31/32 in price to
yield 2.2855%, from 2.331% late on Tuesday.
The dollar was flat against a basket of major world
currencies. The dollar index .DXY fell 0.01%,
with the euro EUR= up 0.09% to $1.112.
The Japanese yen strengthened 0.01% versus the greenback at
108.89 per dollar, while Sterling GBP= was last trading at
$1.2868, up 0.02% on the day.
Oil prices fell on worries about a possible delay in
resolving the U.S.-China trade war, which has hurt global oil
demand. U.S. crude CLcv1 fell 1.58% to $54.66 per barrel and Brent
LCOcv1 was last at $60.62, down 1% on the day.
Gold prices firmed after touching a one-week low in the
previous session. Spot gold XAU= added 0.5% to $1,494.38 an ounce.
Copper CMCU3 lost 0.12% to $5,920.50 a tonne.
Fiat vs Peugeot shares https://tmsnrt.rs/2Nmhg1f
Back to the 90s interactive https://tmsnrt.rs/2Nn8BLJ
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