In the New York market digest, stocks moved in mixed fashion, with the Dow rebounding and rising at one point while the Nasdaq fell. Currency movements were limited, while crude oil and gold respectively retreated and rebounded.
U.S. stocks: The Dow rebounded for the first time in 3 trading days and rose toward the end of the session. Meanwhile, the tech-heavy Nasdaq Composite fell for the third straight day, leaving the overall market mixed. Expectations that tensions in the Middle East would ease and the direction of crude oil prices weighed on the market, while lower long-term interest rates also supported buying.
Dollar-yen rebounded for the first time in 4 trading days, with the pair at one point pushed back to the 157.60 range. It then turned higher again toward the 157.90 range, while euro-dollar fell to the 1.1180 range. The pair rose to 1.1237 dollars early in the European session, but further gains were limited.
Crude oil futures retreated for the first time in 9 trading days against the backdrop of Iran-related reports. Gold futures rebounded for the first time in 4 trading days on lower U.S. interest rates and a weaker dollar.
U.S. long-term interest rates fell, at one point reaching around 4.86%. Overall, the market lacked a clear direction ahead of the U.S. midterm elections.
The day's data releases showed a revised U.S. manufacturing PMI reading of 54.9, an ISM manufacturing index of 55.5, and September construction spending down 1.9% month on month.