Emerging markets were in high demand in mid July, with bond fund inflows at a record, as investors chose dynamic developing economies over lagging advanced markets, EPFR Global said on Tuesday.
Emerging market equity funds tracked by EPFR posted combined inflows of more than $3 billion for the week ended July 14, while emerging market bond funds took in $745 million, bringing their year-to-date inflows to an all-time high of $18.5 billion.
China on Tuesday denied a report that it had surpassed the United States last year to become the world's largest energy user.
Futures for the S&P 500, Dow Jones and Nasdaq were down 0.2 to 0.3 percent at 900 GMT (5 a.m. EDT), pointing to a lower open on Wall Street on Tuesday.
Financial markets juggled with competing drivers on Tuesday as investors generally boosted stocks in the hope of more good earnings reports and the dollar slipped on concerns about the U.S. economy.
Asian stocks broadly rose on Tuesday as a firm performance on Wall Street and optimism over corporate earnings offset increasing worries about the U.S. economy.
(Corrects to say in paragraph 5 to say yen near 7-month high, not 7-week)
Oil climbed to $77 on Tuesday as forecasts for a fourth consecutive weekly drop in U.S. crude inventories bolstered the positive influence of rising stock markets in most of Asia.
Shares of resource firms and banks clawed back some of their recent losses, helping to boost U.S. crude for August by 47 cents to $77.01 a barrel at 0644 GMT (2:44 a.m. EDT) for a second straight day of gains.
Investors should take data showing currency speculators started to bet against the U.S. dollar this month for the first time since March with a big grain of salt.
While the turnaround in positioning from long to short on the dollar shows that sentiment on the U.S. currency has deteriorated sharply, analysts say it should not be interpreted as a sign the greenback is about to collapse.
The dollar eased on Tuesday, inching closer to a two-month low versus the euro hit last week as investors continued to cut long positions on more disappointing U.S. economic data.
The greenback rose a little against the yen on bids from Japanese importers, but remained close to a seven-month low marked last week, leading many market players to look to what authorities in Japan could do about a firm yen.
Gold regained strength on Tuesday as jewelry makers resurfaced after the price dropped to its weakest in nearly two months, while investors looked to movements in other markets for further cues.
A drop in Japanese shares also spurred buying from speculators, who are keeping an eye on U.S. corporate earnings and Federal Reserve Chairman Ben Bernanke's comments on the economy on Wednesday. Silver and palladium firmed, but platinum tracked equities lower.
The dollar eased slightly on Tuesday, inching closer to a two-month low versus the euro hit last week as investors continued to cut long positions on more disappointing U.S. economic data.
The greenback rose a little against the yen on bids from Japanese importers, but was still within striking distance of a seven-month low marked last week, leading many market players to look to what authorities in Japan could do about a firm yen.
Gold prices remained motionless in Asian trade Tuesday after hitting near two months low on Monday as traders looking for clues from other markets.
Spot gold was seen trading at $ 1181.97 an ounce at 11.30 a.m Singapore time after hitting as low as $1,177.47 on Monday, the lowest level for a most-active contract since May 24
Asian stocks rose on Tuesday, looking past weak revenue growth at top U.S. firms and more weak U.S. economic data, as shares of resource firms and banks clawed back some of their recent losses. The Japanese yen hovered near its recent 7-week high against the dollar, amid growing talk of intervention as traders wondered if Tokyo could stomach further yen gains.
High-speed Internet providers are expected to get a subtle rebuke from U.S. regulators this week when a report omits language that has previously said they are rolling out broadband to all areas in a reasonable and timely fashion.
Goldman Sachs executive Fabrice Tourre denied fraud and other accusations by U.S. regulators for his role in marketing a subprime mortgage product and asked a court on Monday to dismiss the case.
The AUD has opened fairly unchanged this morning currently trading around USD0.8690.
Nokia has begun looking for candidates to replace Chief Executive Olli-Pekka Kallasvuo, who has struggled to keep up with nimbler rivals Apple Inc and Google Inc , the Wall Street Journal reported on Monday.
The Australian Dollar opens marginally higher against the greenback this morning at 0.8675.
Goldman Sachs executive Fabrice Tourre denied fraud and other accusations by U.S. regulators for his role in marketing a subprime mortgage product and asked a court on Monday to dismiss the case.
Goldman Sachs Vice President Fabrice Tourre denied accusations made against him by U.S. regulators for his role in marketing a subprime mortgage product at the center of a fraud case against the bank and asked a court on Monday to dismiss the case.
Al Qaeda's No. 2 leader mocked President Barack Obama for voicing confidence over victory in Afghanistan, in an Internet message posted on Monday.
Apple Inc Chief Executive Steve Jobs' offer of free phone cases mitigates the public relations damage the iPhone 4 antenna issue has caused, analysts said.
