US shares trade little changed in premarket

Tuesday, 17. September 2019 10:52

A reading of stock indexes on Wall Street on Tuesday before the opening bell showed market participants were reluctant to reposition portfolios before they hear the monetary policy update scheduled for tomorrow by the Federal Reserve. Most of the central banks in the world have been expressing bias toward lowering borrowing costs and starting or relaunching stimulus to shield the economy from rising risks, mostly emanating from the trade war between the United States and China and the possibility of a disorderly Brexit.

Last week's attacks by unknown forces with missiles or drones on Saudi Arabia's most important oil hub halved the country's output and prompted a historic spike in prices of the commodity. A spillover to inflation could catch rate-setters unprepared and overheat the economy. US Treasury debt securities extended the session's gains, pushing yields further to the red.

The Dow Jones Industrial Average slipped only 0.08% in the premarket. The Nasdaq 100 index was down 0.1% and the S&P 500 was marginally in negative territory. Gold pared losses to trade unchanged at $1,498.32 per ounce at 4:51 am ET. The euro advanced 0.12% to $1.10148, the pound was down 0.14% at $1.24104. The dollar was flat at ¥108.18.

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