GLOBAL MARKETS-Stocks, dollar pull back after soft ISM data

martes 6 de septiembre de 2016 13:33 GYT

* Dollar fades after ISM services data

* U.S. stocks rebound from brief decline

* Oil prices lower after early spike

* Gold climbs on dimmed hopes for rate hike (Updates with U.S. market open, changes byline, dateline)

By Chuck Mikolajczak

NEW YORK, Sept 6 (Reuters) - The dollar slumped on Tuesday after data on the U.S. services sector fell well short of expectations, while a gauge of global equity markets managed to brush off a brief dip and hold near a one-year high.

The Institute for Supply Management said its index of non-manufacturing activity fell to 51.4, its lowest level since February 2010, from 55.5 the month before and well shy of the 55 estimate. A reading above 50 indicates expansion in the sector, which accounts for more than two-thirds of U.S. economic activity.

Stocks on Wall Street briefly turned negative in the wake of the data and MSCI's index of world shares pared gains from an intraday high of 423.28, its highest level in a year, before rebounding.

The dollar, down 1 percent against a basket of major currencies, softened considerably, with the greenback on track for its biggest drop since late July.   Continuación...