US stocks ended flat today though the S&P 500 snapped three days of losses as financial and consumer staples shares bounced.
Shares of biotech companies were among the biggest drags, including Biogen, down 1.1 percent at $382. The Nasdaq Biotech Index was down 0.7 percent.
The S&P financials were up 0.3 percent, helped by prospects for higher interest rates, while S&P consumer staples were up 0.5 percent.
Another batch of strong economic data underscored views that the Federal Reserve could raise interest rates in September.
The Dow Jones industrial average fell 2.51 points, or 0.01 percent, to 17,764.04, the S&P 500 gained 0.87 points, or 0.04 percent, to 2,080.15 and the Nasdaq Composite dropped 7.76 points, or 0.15 percent, to 5,013.87.
Meanwhile, European stocks were held back by concerns about China’s economic growth and uncertainty around Greece’s debt negotiations.
China reported inflation data that suggested the world’s second-biggest economy was still struggling, even through Beijing is expected to add more policy stimulus.
On top of this, concerns about a lack of progress in talks between Greece and its creditors weighed on shares in Europe and the United States, said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
European Union officials on Tuesday swiftly dismissed new Greek promises of economic reform, saying the proposals were not enough to unlock funds that Athens urgently needs to avoid defaulting on its debts.
In its sixth straight day of losses, the pan-European FTSEurofirst 300 index ended down 0.5 percent, making for its lowest close since Feb 19. The MSCI all world stock index was up 0.08 percent.
Earlier, Japan’s Nikkei share average posted its biggest loss in almost a month on Tuesday, hurt by the prospect of an early US rate hike and uncertainty over whether Greece can clinch a deal with creditors and avoid default.
The Nikkei fell 1.8 percent to 20,096.30, the biggest fall since May 14. For the first time this year, the index has declined three days in a row.
The broader Topix fell 1.7 percent to 1,634.37 while the JPX-Nikkei Index 400 also shed 1.7 percent, to a three-week low of 14,759.85.
Source: Buenos Aires Herald