Stock Markets: U.S. stocks opened lower on Tuesday as investors fled risky assets after Turkey shot down a Russian warplane, even as data pointed to stronger U.S. economic growth.
The Dow Jones industrial average (DJI) was down 48.5 points, or 0.27 percent, at 17,744.18, the S&P 500 (SPX) was down 7.45 points, or 0.36 percent, at 2,079.14 and the Nasdaq composite index (IXIC) was off 32.15 points, or 0.63 percent, at 5,070.33.
Economic Indicators: U.S. consumer confidence deteriorated to a 12-month low in November, dampening optimism over the health of the economy, industry data showed on Tuesday.
In a report, the Conference Board, a market research group, said its index of consumer confidence sank to 90.4 this month from a reading of 99.1 in October, whose figure was revised from a previously reported 97.6. Analysts expected the index to rise to 99.5 in November.
Economic Indicators:Annualized U.S. single-family home prices rose in September at a faster pace than in August and above market expectations, a closely watched survey showed on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 5.5 percent in September on a year-over-year basis compared with 5.1 percent in the year to August.
Forex: The U.S. dollar edged lower against its Canadian counterpart on Tuesday, but remained within close distance of a two-month peak after data showed that the U.S. economy grew more than initially estimated in the third quarter.
USD/CAD hit 1.3324 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3337, shedding 0.20%.
Economic Indicators:The U.S. economy grew more than initially estimated in the third quarter, supporting the case for a U.S. interest rate hike next month, official revised data showed on Tuesday.
In a report, the Commerce Department said gross domestic product grew at a seasonally adjusted annual rate of 2.1% in the three months ended September 30, in line with expectations. Preliminary data initially pegged U.S. growth at 1.5% in the third quarter. The U.S. economy grew 3.9% in the second quarter.
Commodities: Oil prices rallied sharply on Tuesday, after Turkish fighter jets shot down a Russian warplane near the Syrian border, fueling concerns over a disruption to supplies from the Middle East.
On the ICE Futures Exchange in London, Brent oil for January delivery jumped $1.30, or 2.89%, to trade at $46.12 a barrel during U.S. morning hours.
Commodities: Gold rallied on Tuesday, as geopolitical concerns mounted after Turkey shoot down a Russian jet fighter.
Gold for December delivery on the Comex division of the New York Mercantile Exchange jumped $10.10, or 0.95%, to trade at $1,076.90 a troy ounce during U.S. morning hours. A day earlier, prices fell to $1,065.00, not far from last week's low of $1,062.00, a level not seen in almost six years.
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