Markets are bouncing back after recent declines, North Korea still in focus.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Global stocks mostly higher
Global equities traded mostly higher on Tuesday, with most indices brushing off geopolitical tension as U.S. traders come back to their desks after the Labor Day holiday.
American stocks looked set to catch up with global counterparts that registered losses on Monday after North Korea conducted its sixth and most powerful nuclear test to date over the weekend. U.S. futures registered slight losses on Tuesday as stocks elsewhere recovered from the prior day’s risk-off sentiment.
Elsewhere, European bourses traded higher as worries over North Korea took a backseat to deal-making and some investors opted to buy the dip.
Earlier, Asian shares closed mixed on Friday with Shanghai ending in the black after positive economic data, while Japan’s Nikkei 225 and South Korea’s KOSPI remained cautious ahead of speculation that Pyongyang is making preparations for the possible launch of another intercontinental ballistic missile with speculation pointing to September 9.
2. Dollar steadies after recent losses
The dollar held steady against the other major currencies on Tuesday, as ongoing tensions with North Korea continued to dominate market sentiment and investors looked ahead to a string of appearances from Federal Reserve officials in the hopes to garner clues over the future path of U.S. monetary policy.
Investor will look for the release of July factory orders at 14:00 GMT.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged a bit higher 0.03% at 92.60 by 10:07 GMT.
3. Oil prices on the rebound
Crude prices moved higher on Tuesday, as demand picked up and U.S. refineries started to resume operations.
Oil refineries, pipelines and shipping channels across Texas and Louisiana began a gradual return of operations after storm system Harvey made landfall in the heart of the U.S. energy industry more than a week ago.
Market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Wednesday and Thursday to weigh what the impact of Harvey was on supply and demand.
The reports come out one day later than usual due to the U.S. Labor Day holiday on Monday.
4. Bitcoin fall continues
Bitcoin and other leading cryptocurrencies continued to drop on Tuesday, pulling further away from record highs as U.S. traders got back to their desks, after China banned individuals and organizations from raising funds through initial coin offerings, saying the practice constituted illegal fundraising.
Traders showed concern over further information out Tuesday from Chinese financial news outlet Yicai that the world’s second largest economy is poised to even further tightening of rules on virtual currencies.
Bitcoin dropped to $4,159.9 after rallying to an all-time high of $4,911.80 over the weekend.
Ethereum, Bitcoin's closest rival in terms of market cap, attempted to recover from the prior day’s nearly 16% slide. The cryptocurrency was little changed $295.92. It briefly rose to a record peak of $394.78 on Saturday.
