FYI: U.S. markets were set to open slightly lower Tuesday, as U.S. and U.K. investors returned to their desks and weighed developments over the weekend including European elections and continuing concerns about U.S.-China trade.
Futures pointed to opening losses on Wall Street of 0.1% for both the Dow Jones Industrial Average and the S&P 500.
In Europe, the Stoxx Europe 600 was down 0.3% in morning trading. In Asia, the Shanghai Stock Exchange gained 0.6%, Hong Kong’s Hang Seng Index was up 0.4% and Japan’s Nikkei was up 0.4%.
The finance and communications sectors weighed on European markets, as shares in Intesa Sanpaolo dropped 1.8% and UniCredit lost 1.7% amid concerns that tensions between Rome and European leaders in Brussels are set to rise further.
Greek government bond yields dropped further on Tuesday, after Prime Minister Alexis Tsipras said he would call a general election and investors anticipated the possibility of a government that has pledged tax cuts to boost growth. The yield on Greek 10-year debt reached 2.994% on Tuesday.
On Monday, President Trumpclosed a trip to Japan with soothing comments on both Iran and North Korea. He suggested he didn’t see North Korea’s latest round of missile tests as having violated international rules and that he isn’t trying to remove the government in Tehran, despite recent tensions.
The 10-year U.S. Treasury yield on Tuesday ticked down to 2.285%, from 2.327% on Friday, following Monday’s break. Yields move inversely to prices.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat.
This week, investors will be watching for the latest consumer confidence data from the U.S., due Tuesday, and statistics on personal income, spending and inflation on Friday.
In commodities, global benchmark Brent crude oil was up 0.6% at $69.19 a barrel. Reports this week suggested buyers for oil from Iran were drying up after President Trump pledged to clamp down on its ban on exports from the country.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/stock-index-futures-edge-lower-as-trade-worries-hang-over-market-2019-05-28/printWSJ:
https://www.wsj.com/articles/global-stocks-post-small-rises-11559030283Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-27/asia-stocks-set-for-muted-open-dollar-edges-up-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-china-trade-deal-us-not-ready-trump-says/Reuters:
https://www.reuters.com/article/us-global-markets/stocks-rally-cut-off-by-eu-threats-over-italys-budget-idUSKCN1SY01WU.K.
https://www.marketwatch.com/story/london-markets-fall-as-italy-worries-spread-2019-05-28/print:
Europe:
https://www.marketwatch.com/story/italian-stocks-send-europe-screeching-into-reverse-2019-05-28/printAsia:
https://www.marketwatch.com/story/asian-shares-up-in-muted-trading-after-trump-visit-to-japan-2019-05-28/printBonds:
https://www.cnbc.com/2019/05/28/us-bonds-wall-street-set-to-monitor-economic-data-treasury-auctions.htmlCurrencies:
https://www.cnbc.com/2019/05/28/forex-market-eu-elections-trumps-japan-visit-in-focus.htmlOil:
https://www.cnbc.com/2019/05/28/oil-market-chinese-economy-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/05/28/gold-market-dollar-moves-eu-elections-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx 
