Markets Trade in Red

The Global Markets opened negative this morning. U.S. stocks fell after a five-day rally sent the Standard & Poor’s 500 Index to the most expensive level since June, offsetting a rebound in orders for durable goods and a drop in unemployment claims. European stocks climbed for a fourth day, extending a 27-month high for the benchmark Stoxx Europe 600 Index, as reports in the U.S. showed the recovery in the world’s largest economy is intact. This morning Asian stocks declined, driving the benchmark index to its first drop in four days, as lower metal prices dragged down mining companies and Japanese exporters fell after the yen gained yesterday, when Tokyo markets were closed. In commodities, Crude oil gained for a fifth day in London as snowstorms returned to parts of Europe and confidence among U.S. consumers advanced, spurring optimism that fuel demand will increase. Gold, trading little changed in Asia, swung between gains and losses as some investors sold to bank gains from this year’s rally, the 10th annual advance. Copper may rise as mine disruptions curb supply amid increased investor demand, a survey showed. The Indian markets continue to trade in red this morning with the Sensex shedding 65 points or 0.33 percentage points and the Nifty shedding 18.35 points or 0.31 percentage points. The main draggers this morning are the Auto and Oil & Gas indices.