World stocks hovered near three-month highs and safe-haven government bonds inched lower as signs that Europe’s economic downturn has bottomed boosted risk appetite, despite worries over violent protests in the United States and unease over Washington’s standoff with Beijing.
MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.29% following broad gains in Asia and Europe. The index .MIWD00000PUS is up more than 35% from its March lows.
In morning trading on Wall Street, the Dow Jones Industrial Average .DJI fell 114.39 points, or 0.45%, to 25,268.72, the S&P 500 .SPX lost 11.9 points, or 0.39%, to 3,032.41 and the Nasdaq Composite .IXIC dropped 24.20 points, or 0.25%, to 9,465.68.
In commodity markets, gold added 0.5% to $1,735 an ounce XAUO.
Tensions between the U.S. and China weighed on oil prices. U.S. crude CLc1 recently fell 2.73% to $34.52 per barrel and Brent LCOc1 was at $37.70, down 0.37% on the day.