The S&P 500 and Dow fell in choppy trading after losses in energy and financial stocks, while gains in technology sector lifted Nasdaq. Most Treasuries were higher on weaker stocks. The dollar rose as the British pound and euro were pressured by uncertainty over Brexit talks and Italian budget respectively, while gold prices dipped. Oil was little changed, despite Saudi Arabia’s pledge to raise crude production to a record high.
FX options flag uncertainty before U.S. midterm election; bonds complacent
Currency options investors are bracing for increased volatility and possible U.S. dollar weakness going into the U.S. midterm elections next month.