WASHINGTON :U.S. stocks pared gains on Tuesday after manufacturing data showed expansion amid rising commodity prices and shortages of materials, while oil rose and global equities hit a record high as markets rode concerns of rising inflation.
All three major indexes were trading off from larger gains notched earlier in the session, leaving U.S. stocks mixed. "Markets are letting the macroeconomic data lead the way with Treasury prices lower and yields higher after strong numbers this morning," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina, adding that news of oil supplies rapidly drawing down, which will lead to higher oil prices, has prompted traders.
Oil prices, meanwhile, extended gains ahead of an OPEC+ meeting and on optimism that fuel demand will grow in coming months as the U.S. summer driving season gets under way. U.S. crude recently rose 3.5per cent to US$68.64 per barrel and Brent was at US$71.15, up 2.64per cent on the day.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
German 'insurtech' Wefox raises US$650 million at valuation of US$3 billionBERLIN: Digital insurance startup Wefox said on Tuesday it had raised US$650 million from investors, in what it called a record-breaking round ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Olympics-World champions US fail to qualify for 3x3 men's basketballThe U.S. men's 3x3 basketball team have failed to qualify for the Tokyo Olympics after the 2019 world champions lost to the Netherlands in the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tarzan actor Joe Lara among 7 presumed dead in US plane crash
Source: TODAYonline - 🏆 1. / 99 Read more »
Asia shares look to extend rally before US jobs testAsian shares edged higher on Monday, looking to extend their recent rally to a third week should U.S. jobs figures show the expected revival in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Michael Wong’s Eldest Daughter To Marry Girlfriend In US Next YearCrazy! same sex marriage. Still need dildo to enjoy No marriage for me regardless of who. Will NEVER marry regardless of who.
Source: TODAYonline - 🏆 1. / 99 Read more »
North Korea slams end to U.S. guidelines limiting South Korea missile rangeNorth Korea's state media on Monday criticised the recent termination of a pact between the United States and South Korea that capped the development of South Korea's ballistic missiles, calling it a sign of Washington's 'shameful double-dealing.' South Korean President Moon Jae-in announced the abolishment of the joint missile guidelines that had limited the country's development of ballistic missiles to a range of 800 km (500 miles) after his first summit with U.S. President Joe Biden earlier this month. North Korea's official KCNA news agency carried an article by Kim Myong Chol, who it described as an 'international affairs critic,' to accuse the United States of applying a double standard as it sought to ban Pyongyang from developing ballistic missiles.
Source: YahooSG - 🏆 3. / 71 Read more »