Equities had their best moment with weak producer price index (PPI) data giving them an edge, but news of a Russian missile that hit Poland and resulted in 2 deaths rattled investors.
During the New York session, stocks re-entered the rally with Treasury yields falling after PPI data saw an increase of 0.2% in October which was the same reading as the previous month while the market forecast was for 0.4%.
On an annual basis, PPI is seen growing 8.0% but down from the previous month's 8.4% and missing market forecasts of 8.3%.
The latest data, flanked by last week's United States (US) inflation reading, strengthened investors' hopes that the Federal Reserve (Fed) may be less aggressive with its tightening policy.
As a result, the Dow Jones Industrial gained 0.17% at 33,592.92 while the S&P 500 gained 0.87% at 3,991.73 and the Nasdaq Composite gained 1.45% at 11,358.41.
However, the situation seemed to change early this morning with the news of an explosion in a village near the border of Poland and Ukraine that claimed 2 lives and has clouded the crisis of geopolitical tension.
The White House reported that the incident occurred as a result of the launch of 2 missiles and the Russian side denied its involvement in the attack.
As a result, stocks in the Asian region opened mixed with Japan's Nikkei 225 and Topix flat while South Korea's Kospi was high and Kosdaq added 0.13%.
In Australia, Australia's S&P/ASX 200 index slipped 0.22% and the broader Asia Pacific MCSI gauge was flat.
Comment Marc Chandler from Bannockburn Global Forex, the market can still be considered risk-off with the Russian news seen drowning the positive input in the US.
