U.S. stocks were little changed, oil declined and gold rose as investors weighed the damage from Tropical Storm Harvey. The euro held steady after rising to its strongest level since January 2015 against the dollar.
Gasoline surged to the highest in two years and crude oil fell as flooding from Harvey inundated refining centers along the Texas coast, shutting more than 10 percent of U.S. fuel-making capacity. Miners were among the big losers in the Stoxx Europe 600 Index, which was under pressure as the single currency traded sideways above $1.19.
"The economic impact of Harvey is still very hard to determine," Matt Maley, an equity analyst at Miller Tabak & Co. wrote. "It's going to be a while before we know how much of an impact it will have. The clean-up and rebuild after these disasters actually have a positive impact on the economy in certain ways."
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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