Global Markets Quieter; Rebound In Crude Oil A Feature

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(Kitco News) – World stock markets were mixed in lackluster overnight trading. Some disappointing corporate earnings reports limited the upside. U.S. stock indexes are pointed toward weaker openings when the New York day session begins. A big miss to the downside in Snap earnings is helping to pressure U.S. equities.

Gold prices are modestly higher in pre-U.S. trading. Short covering and bargain hunting are featured. Outside markets are in a bullish posture for gold today as the U.S. dollar index is slightly weaker and crude oil prices are higher. Crude has made a good rebound this week, after scoring a 12.5-month low last week. This week’s rally suggests crude oil has put in a near-term market bottom.

The Bank of England holds its regular monetary policy meeting Thursday. No change in policy is expected.

U.S. economic data due for release Thursday includes the weekly jobless claims report and the producer price index.

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