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World stocks wobble as Wall St. cuts losses; oil off after U.S. data

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Crude oil futures fell four times in the first session after data from the US government showed much larger-than-expected crude oil reserves. WTI touched the lowest price in a month.

The US dollar rose as the market expected minutes from the last meeting in the Federal Reserve System. Lower than expected UK-weighted inflation data reduced previous day's earnings.

On Wall Street, IBM fell 6.2 percent, dragging blue chips the day after the company missed its expected earnings. On Tuesday, the S & P 500 posted the largest daily increase since the end of March.

Stocks increased losses when oil prices fell even more, but the steady growth in stocks in the financial sector had the S & P 500 almost break even.

"It’s too early to say that Tuesday’s rally was a" dead cat's rebound ”or market setting base,” said Jorge Kinahan, chief market strategist at TD Ameritrade. "We are going on an incredible day, so it would be unusual to see that some have arrived."
The Dow Jones Industrial Average fell by 29.27 points, or 0.11 percent, to 25,769.15, the S & P 500 fell to 2.61 points, or 0.09 percent, to 2,812.53, and the Nasdaq Composite fell by 3.59 points, or 0.05 percent, to 7,641.90.

European stock indexes reached a one-week high at the start of trading, but then were lowered by 1.9% in the auto stock index. Goldman Sachs said that slow demand in China could affect revenues in this sector.

The pan-European STOXX 600 lost 0.40 percent, while the MSCI reserves index worldwide fell by 0.01 percent.

Shares in emerging markets rose by 0.05 percent. The largest MSCI index in the Asia-Pacific region outside Japan closed at 0.27 percent, and the Japanese Nikkei - at 1.29 percent.
US oil futures fell below $ 70 per barrel after data showed that US stocks rose 6.5 million barrels, which is almost three times higher than analysts' forecasts, while exports fell.

WTI fell by 2.34 percent to $ 70.24 per barrel, and Brent fell by $ 80.28, which is 1.39 percent less than on the same day.
The euro fell 0.39 percent to $ 1.1528, while sterling was last traded at $ 1.314, a decrease of 0.33 percent on the same day.

The Japanese yen weakened 0.03 percent against the US dollar by 112.31 US dollars. The dollar index rose 0.37 percent.

The minutes of the last Fed meeting, to be held on Wednesday, should fuel expectations of further tightening.

The Brazilian real rose against the dollar after data showed that economic activity rose more than expected in August.

US Treasury revenue continued to trade in the range after a massive take-off last week.

The benchmark of 10-year notes fell by 4/32 in price, reaching 3.1709 percent, from 3.156 percent until the end of Tuesday.

The 30-year bond in the past fell by 6/32 in price, which made it possible to get 3.3399 percent, from 3.33 percent at the end of Tuesday.


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