Sterling Stumbles After a Deadly Terror Attack in Manchester

Global Financial News: Sterling Stumbles After a Deadly Terror Attack in Manchester
Publish date:

Here is what you need to know before the bell:

1. European stocks open modestly higher Tuesday even in the wake of a deadly terrorist atrocity which left twenty-two dead and nearly sixty injured at a pop concert in the northern city of Manchester.

2. Global oil prices eased from one-month highs Tuesday amid reports that President Donald Trump will propose tapping into U.S. crude supplies as part of his budget proposal.

3. The dollar index, a measure of the greenback's strength against a basket of six global currencies, was marked 0.10% lower at 96.874, the lowest since early October. The ongoing dollar bearishness, which has clipped 2.2% from the index so far this month, has helped push the euro to a six-month high of 1.1250 and taken sterling to its highest levels since late September.

4. Early indications from U.S. futures prices suggest a pullback at the opening bell after Monday's gains, with the Dow Jones Industrial Average set for a 15 point, or 0.08% decline, and the broader S&P 500 expected to open 0.15% lower from its 2,394.02 point close yesterday.

This article was written by a staff member of TheStreet.