The dollar gained, helped by better-than-expected data in the U.S. non-manufactu...
NEW YORK - The dollar gained, helped by better-than-expected data in the U.S. non-manufacturing sector, and oil prices retreated on Tuesday as caution kept investors alert for developments in the U.S.-Iranian stand-off in the Middle East.
Tehran has vowed retaliation and French President Emmanuel Macron urged Iran to avoid any actions that could worsen Mideast tensions. Germany called for a joint European response to Iran’s decision to scrap limits imposed on its nuclear enrichment program. Even amid rising geopolitical tensions, cyclical stocks have outperformed defensive shares, reflecting views that the U.S. economy remains strong and growth will re-accelerate later in the year despite the flare-up in the Middle East, he said.
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