NEW YORK: Global stocks edged higher in choppy trading on Tuesday as markets awaited further appointments to the incoming White House administration, while oil prices eased as tensions rose between Russia and the United States over Ukraine.

Investors are eyeing President-elect Donald Trump’s pick for Treasury secretary, with the pool widening to include Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh.

Markets are positioning for potential tariffs and tax cuts from the incoming Trump administration that could lead to higher inflation and to fewer interest rate cuts by the Federal Reserve. The yield on benchmark US 10-year notes fell 4.1 basis points to 4.373 per cent.

The Dow Jones Industrial Average fell 0.40pc to 43,217.01, the S&P 500 rose 0.03pc to 5,895.43 and the Nasdaq Composite rose 0.38pc to 18,863.40.

Europe’s main stock index fell to a three-month low, as investors shifted from risky assets to safe havens amid heightened geopolitical tensions following Russia’s warning on its updated nuclear doctrine.

Oil prices dipped, with Brent crude futures down 0.12pc to $73.20 a barrel, while US West Texas Intermediate crude futures at $69.08 a barrel, down 0.14pc.

Published in Dawn, November 20th, 2024