Market Recap

The S&P 500 ended its five-day winning streak as it closed slightly lower on Tuesday due to a selloff in biotechnology and healthcare stocks.

Three industries of the S&P 500 closed up, led by Energy (2.23%) and Materials (1.28%). Healthcare (-2.33%) and Utilities (-0.72%) led the declines.

Nov WTI Crude added US$2.27, or 4.91%, to close at US$48.53/barrel while Nov Brent gained US$2.67, or 5.42% to end at US$51.92/barrel.

Gold for Dec delivery increased US$8.80 or 0.77%, to finish at US$1146.40/ounce while Dec Silver was up 27.6 cents, or 1.76%, to settle at US$15.98/ounce.

Implication

Pullback on Wall Street overnight could spark a similar bout of profit-taking in the local bourse this morning, especially after the recent 2-day rebound of nearly 3.7%; Nikkei has opened 0.1% down.