By IFCMarkets

US stock market recovery continued on Tuesday. The S&P 500 added 0.3% to 2628.20 led by healthcare and consumer staples shares. Dow Jones industrial average rose 0.4% to 24748.73. The Nasdaq ended 0.85 points higher at 7082.70. The dollar strengthening accelerated despite S&P/Case-Chiller 20-city Index showed home prices across the country rose in September at the slowest pace in nearly two years. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.3% to 97.33 but is lower currently. Futures on three main US stock indices point to higher openings today.

European stocks gave up part of previous session gains on Tuesday. Both the EUR/USD and GBP/USD continued declining but are higher currently. The Stoxx Europe 600 lost 0.3%. The German DAX 30 fell 0.4% to 11309.11. France’s CAC 40 slipped 0.2% and UK’s FTSE 100 slid 0.3% to 7016.85.

Asian stock indices are mostly in positive territory today. Nikkei gained 1% to 22177.02 helped also by yen continued slide against the dollar. Chinese stocks turned higher as investors’ hopes for US-China trade dispute settlement were buoyed by US National Economic Council Director Larry Kudlow’s comment president Trump told aides that “a deal can be made” : the Shanghai Composite Index is up 1.1% and Hong Kong’s Hang Seng index is 1.4% higher. Australia’s All Ordinaries Index however turned lower 0.1% as Australian dollar extended gains against the greenback.

Brent futures prices recovery continues today supported by expectations of OPEC cuts next week and North Sea outage due to a pipeline shutdown for a repair. Prices fell yesterday. The American Petroleum Institute late Tuesday report indicated US crude inventories rose by 3.5 million barrels last week. January Brent fell 0.5% to $60.21 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.

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