US markets open lower on Tuesday

Wall Street got off to a mixed and cautious start on Tuesday, as traders turned their attention to the economic outlook for Europe, following Mansion House speeches from UK chancellor Philip Hammond and the Bank of England's governor, Mark Carney.

In addition, markets will be digesting the latest US economic data, including an increase in the deficit in the first quarter to $116.8bn.

Shortly after the open, the Dow was down 0.09% at 21,509.25, the S&P 500 fell 0.33% to 2,445.3 and the tech-focused Nasdaq Composite drifted 0.25% lower to 6,223.2.

RISERS AND FALLERS

Chevron, Exxon, Verizon and General Electric were among the early fallers on the Dow, with each stock down over 1%.

COMMODITIES

At 2:45pm (GMT), WTI crude was 2.42% lower at $43.13 per barrel and Brent was down 2.2% at $45.88 per barrel. Gold was virtually unchanged, trading around $1,246 an ounce. ECONOMIC NEWS

The US current-account deficit increased to $116.8bn (preliminary reading) in the first quarter of 2017, from $114bn (revised reading) in the fourth quarter of 2016, the Bureau of Economic Analysis reported today.

The latest monetary policy report from the Federal Reserve is also due later today.