(Kitco News) – World stock markets were mixed in overnight trading, with Asian shares mostly weaker and European stocks mostly firmer. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Gold prices are slightly lower in pre-U.S. trading.
The world markets have not shown significant reactions to the terror bombing attack at a concert in Manchester, England that killed nearly two dozen young people and injured scores. These major terror attacks that occur a few times each year, unfortunately, are not surprising to the markets any more.
In overnight news, the Euro zone’s Markit composite purchasing managers’ index (PMI) came in at 56.8 in May, which is unchanged from April. The number is considered very robust and continues a string of generally upbeat economic data coming out of the European Union. Any PMI reading above 50.0 suggests growth in the sector.
Major economic focal points of market watchers this week are the Federal Reserve‘s FOMC minutes released on Wednesday afternoon and an OPEC meeting that begins Thursday.
The key outside markets on Tuesday morning find the U.S. dollar index slightly lower and trading near a six-month low. The dollar index bears remain in firm near-term technical control. Meantime, Nymex crude oil futures prices are also weaker after hitting a four-week high Monday. News the U.S. government may sell off some of its crude oil stocks has put some pressure on the oil market. Crude oil prices have trended solidly higher recently, to suggest sideways, or sideways-to-higher, price action in the near term. Thursday’s OPEC meeting is expected to see the cartel continue its lower production quotas that were implemented last fall.
U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, the U.S. flash manufacturing PMI, the flash services PMI, new residential sales, and the Richmond Fed business survey.
About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.
Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.
The post Global Markets Show Muted Reaction To U.K. Terror Attack appeared first on Money Morning – We Make Investing Profitable.