Asian markets traded mostly lower on Wednesday. The Nikkei rose .4% to 9070, the Kospi slipped .2% to 1929, and the ASX 200 eased .1% to 4356. In Greater China, the Shanghai Composite slumped 1% to 2053, and the hang Seng declined .1% to 19789.
European markets settled mixed on light volume. The FTSE dropped .6%, the CAC40 fell .5%, while the DAX ticked up .1%. Resource stocks were under pressure, as the sector tumbled 1.7% due to growth fears.
In the US, stocks closed modestly higher, but volume remained light. The Dow inched up 4 points to 13107, while the S&P 500 and Nasdaq both ticked up .1%.
Treasuries and Commodities
10-year notes fell 5/32 to yield 1.5%, and 30-year notes declined 13/32 to yield 2.77%.
Energy traded mixed as Isaac was downgraded to a tropical storm. Crude oil dropped 1.3% to 95.06, gasoline fell .6% to 3.1074, while natural gas rallied 2.1% to 2.688.
Gold and silver sank .7%, and copper dropped .8 to 3.436.
Wheat surged 3.5%, corn jumped 2.3%, and soybeans gained 1.8% as agricultural futures resumed their rally.
The Dollar settle mostly higher against global currencies, while trading ranges remained narrow. The Euro and Swiss Franc declined .3% to 1.2529 and .9586 respectively, and the Australian Dollar eased .1% to 1.0354. The Yen slipped .2% to 78.67, while the Pound edged up .1% to 1.5830.
Preliminary GDP data was in line with forecasts, rising to 1.7% from 1.5%. Pending Home sales blew past forecasts, climbing to 2.4% vs. forecasts of 1.1%. Crude oil inventories unexpectedly rose by 3.8 million barrels.
Thursday’s reports will include weekly unemployment claims, personal income & spending, and chain store sales.
Earnings are due from Cascade, Ciena, and Zumiez.