By IFCMarkets

US stock market ended lower on Tuesday as investors awaited the Federal Reserve’s decision due today at 20:00 CET with a third quarter point rate hike a foregone conclusion in light of recent strong US economic data. The S&P 500 slipped 0.1% to 2915.56. Dow Jones industrial average lost 0.3% to 26492.21. The Nasdaq composite index however rose 0.2% to 8007.47. The dollar strengthening halted on mixed data: home price gains decelerated to 11-month low in July while Richmond Fed factory index hits record high in September. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, edged 0.1% lower to 94.124 but is higher currently. Futures on stock indices point to higher openings today.

European stocks recovered on Tuesday led by energy shares. The EUR/USD’s continued climb was capped by European Central Bank chief economist Peter Praet’s comment playing down ECB President Mario Draghi Monday’s comment he expected euro-zone inflation to accelerate. The GBP/USD accompanied EUR/USD’s climb but both pairs are lower currently. The Stoxx Europe 600 rose 0.5%. The German DAX 30 added 0.2% to 12374.66. France’s CAC 40 gained less than 0.1% and UK’s FTSE 100 rallied 0.7% to 7507.56. Markets opened flat to 0.1% higher today

Asian stock indices are rising today. Nikkei added 0.4% to 24033.79 despite yen turning higher against the dollar and downward stock adjsutments due to expected dividend payments. Chinese stocks are firmly higher on talks of likely government stimulus in the form of tax cuts for corporations: the Shanghai Composite Index is up 0.9% and Hong Kong’sHang Seng index is 1.4% higher. Australia’s All Ordinaries Index is rebounded 0.1% despite Australian dollar’s resumed climb against the greenback.

Brent futures prices rally continues today. Prices rose yesterday after a jump Monday as OPEC and other major producers didn’t announce any plan over the weekend to boost output to offset an estimated 2 million barrels shortfall due to Iranian sanctions. The American Petroleum Institute reported late Tuesday that US crude inventories rose by 2.9 million barrels to 400 million last week. Prices ended higher yesterday: November Brent rose 0.8% to $81.87 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.

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