The main indices on Wall Street opened on a mixed footing on Tuesday as traders searched for direction following the long July 4th weekend.
Shortly after the opening bell, the Dow Jones Industrial Average was down 0.17% at 34,726 while the S&P 500 was flat at 4,352 and the Nasdaq rose 0.26% to 14,677.
While the market as a whole wasn’t sure which way to turn, shares in troubled Chinese ride-hailing giant Didi Global Inc (NYSE:DIDI) were pointing firmly downwards as a regulatory crackdown on the firm in China sent the shares plunging 22.8% to US$11.98 in early deals.
Back in London, the FTSE 100 was continuing to decline into late afternoon, dropping 35 points to 7,130 at around 2.40pm.
2.20pm: FTSE 100 declines
After the breakdown yesterday of OPEC+ talks, it was supposed to be all about oil today but gold has stolen the black stuffs thunder.
“Gold was up 1% at the time of writing as it rose for the second consecutive day after halting its selling last week,” wrote Fawad Razaqzada at ThinkMarkets.
“The metal was supported by falling bond yields and a mostly weaker US dollar,” he added.
Gold for delivery in August was up US$26.80, or 1.5%, at US1,810.10 an ounce. The pound was about one-eighth of a cent higher against the greenback at US$1.3857.
On the corporate news front, supermarkets – old school and new school – have been to the fore today,
J Sainsbury PLC (LON:SBRY) was 0.4% heavier at 279.2p after its trading statement this morning.
