Wall Street: back in the red during risk-off U.S. session

Wall Street ended lower on Tuesday and snapped a winning streak with all three benchmarks in the green yesterday, but weighed on today by lackluster earnings and a fall in consumer confidence.

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At the same time, oil was below $50bb today driving a supply mindset into markets and investors were looking for cover in the Yen and gold as move closer towards the elections next month with uncertainty on the heels of a potential change of administration so close to when the Fed are expected to hike interest rates in December. At the same time, the DXY was at new nine-month highs which is a concern for multinational corporates and their translation risk. The Dow Jones Industrial Average fell 53.76 points, or 0.3%, at 18,169.27, while the S&P 500 dropped by 8.17 points, or 0.4%, to 2,143.16. The Nasdaq Composite Index also closed in the red and dropped 26.45 points, or 0.5%, to close at 5,283.40.

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