Global markets-Oil prices climb, bond yields rise as US-Iran ceasefire expires
SPY•Wall Street weakens on softer U.S. data
Overnight on Wall Street, the S&P 500 .SPX slipped 0.5% while the Nasdaq Composite .IXIC edged 0.3% lower as soft U.S. economic data, including an unexpected drop in retail sales, prompted markets to scale back bets on an imminent Federal Reserve interest rate move.
"Markets adopted a generally risk-off tone as President Trump reaffirmed he was not interested in extending the truce with Iran, with renewed tensions in the Middle East pushing oil prices higher and complicating sentiment," Westpac analysts wrote in a research note.
The U.S. dollar index =USD, which measures the greenback's strength against a basket of six currencies, traded around a two-month low of 99.527.
Asian stocks rise as oil and yields climb
Oil prices crept higher and bond yields rose, blunting paltry gains for stocks at the start of Asian trading on Tuesday as a U.S.-Iran truce expired and Tehran said it would shift to a "fully offensive" military posture.
