Morning Briefing: Markets weak as oil eases, N. Korean launches missile

Markets weak as oil eases, N. Korean launches missile

World markets are trending lower Tuesday as oil prices slip back after a week of gains, and Asian markets have been rattled by another North Korean missile launch.

The missile was again targeted towards Japan but North Korea claims it now has the capacity to hit anywhere in the world. Chinese and Russian premiers meet Tuesday, Japan has called on both to take action against the rogue state. G20 nations meet later this week.

Asia’s indexes closed mostly lower as cautious investors pulled back. The notable exception was Sydney which gained sharply as the Aussie dollar weakened following the Reserve Bank’s decision to hold interest rates at 1.5 per cent.

European indexes are also in cautious mode following the North Korean launch and with declining energy and mining sectors. Eurozone PMI data is awaited.

Wall Street is closed for Independence Day.

Toronto is expected to open higher after being closed Monday and Canadian manufacturing PMI data is due.
 

	Latest	1 month ago	1 year ago
North America (previous session)
US Dow Jones	21,479.27 (+0.61 per cent)	+1.29 per cent	+19.67 per cent
TSX Composite	15,182.19 (-0.21 per cent)	-1.69 per cent	+7.95 per cent
Europe (at 5.00am ET)
UK FTSE	7,367.88 (-0.12 per cent)	-2.38 per cent	+12.97 per cent
German DAX	12,430.62 (-0.36 per cent)	-3.06 per cent	+28.03 per cent
Asia (at close)
China CSI 300	3,619.98 (-0.85 per cent)	+3.83 per cent	+12.96 per cent
Japan Nikkei	20,032.35 (-0.12 per cent)	-0.72 per cent	+26.98 per cent
Other Data (at 5.00am ET)
Oil (Brent)	Oil (WTI)	Gold	Can. Dollar
49.48 (-0.40 per cent)	46.91 (-0.34 per cent)	1224.60 (+0.44 per cent)	U$0.7694
			Aus. Dollar
			U$0.7598

Don’t panic, Monday’s data was a glitch

If you spent the last few hours of Monday checking stock activity on Google, Yahoo or Bloomberg, you may have got a surprise.

Some stocks, such as Amazon and Apple were showing as tanking; Amazon by 74 per cent. Meanwhile, some others including Mattel appeared to soar by as much as 473 per cent!

Nasdaq says it was due to the interpretation of test data by some third party outlets.

“As part of its normal process, the UTP distributed test data and certain third parties improperly propagated the data. Nasdaq is working with third-party vendors to resolve the matter,” a Nasdaq spokesman told Marketwatch.