President Donald Trump unveiled the country's latest budget Monday, with the White House calling for $3 trillion in deficit reduction, which would include $1.7 trillion in mandatory spending cuts, while proposing to cut discretionary spending by 2 percent a year after 2019.
Consequently, investors are paying close attention to the bond market, in relation to interest rates, with yields dropping during Tuesday's morning trade.
The sell-off coincided with a renewed concern among investors about how the Federal Reserve would use higher interest rates to deal with inflation; the January jobs report released February 2 showed the fastest year-over-year wage growth since 2008.
Stocks got off to a fast start, as expected, with early gains nearly reaching the quantities seen in the whole of Friday's session.
Barnaby Joyce slams PM's "inept" comments
Mr Turnbull said the code of conduct needed to be updated to ban sex between ministers and staff, saying "no good comes of it". It is a very bad workplace practice. "It has been a awful thing for them to go through in the glare of publicity", he said.
Petroleum-linked shares rose amid higher oil prices, with Halliburton winning 2.6 per cent, Schlumberger 2.5 per cent and Apache 2.4 per cent.
"My view is that the backdrop is still favorable enough", he said. The futures on US WTI crude oil ended with increase of 0.09 USD to 59.29 USD per barrel, while Brent oil fell by 0.20 USD to 62.59 USD per barrel. after rising to 64.40 USD earlier during the session.
Retailers, apparel makers and other companies that focus on consumers made some of the largest gains, a sign that investors expect shoppers to keep spending and the economy to keep growing.
Oil prices have dropped since reaching longtime highs in late January, when USA crude peaked at $66 a barrel. Hospital property company HCP fell 37 cents, or 1.6 percent, to $22.85, and Boston Properties shed 21 cents to $115.14. The Nasdaq composite and S&P 500 also surged. Disney agreed to buy Fox's movie and television studios and some cable and worldwide TV businesses in December for $52.4 billion.
Two in custody after student brings gun to Lee's Summit North High
A 16-year-old Marcus High School student is in police custody Thursday after classmates reported seeing a handgun in a backpack. We will follow district policies and procedures and take appropriate action to the fullest extent of the law.
Hess added 42 cents, or 1 per cent, to $42.54 and Occidental Petroleum picked up $1.34, or 2 per cent, to $69.52. On Monday Comcast stock slipped 15 cents to $38.42 while Disney lost 7 cents to $103.02. The yield on the benchmark 10-year Treasury note hit a four-year high of nearly 2.9% on Monday. Natural gas slid 3 cents to $2.55 per 1,000 cubic feet. The euro rose to $1.23 from $1.2231. The futures on gold rose by 0.81% to 1,326.30 Dollars per ounce. Cisco Systems rose 2.9 percent and Citigroup climbed 2 percent.
Germany's DAX jumped 1.4 percent while the CAC 40 in France and the British FTSE 100 both advanced 1.2 percent. Economists had expected inventories to edge up by 0.2 percent.
Hong Kong's Hang Seng lost 0.2 per cent and Seoul's Kospi rose 0.9 per cent. Markets in Japan were closed for a holiday.
Hawks hunt three more linked to Gupta raids
Corruption Watch agreed, saying those implicated in multiple corruption scandals must be held accountable and brought to justice. The three will appear in Bloemfontein Commercial Crimes Court today and will be named once they have pleaded.