Investors hit the pause button on Tuesday, with European stocks and the dollar trading little changed before President Donald Trump addresses Congress. Oil retreated as gold also edged lower.
Shares of raw-material producers declined as the outlook for industrial metals worsened, while construction companies rose a second day after Trump said Monday he’ll spend “big” on infrastructure. Treasuries gained after falling at the start of the week as the odds of a Federal Reserve interest-rate increase in March jumped.
Even as global equities climbed to record levels, investors have remained wary as they await details of Trump’s economic policies and watch for signals on the timing for higher rates.
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