Overnight

Maybe an interest rate hike isn't for certain come December after all. At least that's what some Asian investors seemed to be saying in overnight trading, according to the WSJ, "as weak economic data from the U.S. prompted traders to dial back expectations that the Federal Reserve will raise interest rates in December." The meme here is that rising rates in the U.S.would cause money to flow that direction hurting Asian markets in the process.

The Nikkei 225 regained earlier losses and was up 0.1% and other markets also gained with the Hang Seng Index up 0.9%, the ASX 200 higher 0.4%, the Kospi rallied 0.2% while the Shanghai Composite Index managed a 0.5% gain. Still U.S. data about industrial production disappointed coming in at a 0.1% gain when 0.2% was expected. One pundit referred to the 0.1% gain as "anemic,"obviously not helping investor moods.

The yen edged up against the dollar, trading at 103.79, rising from Monday's 104.04 level. Oil also rallied Tuesday with Brent adding 0.62% at $51.84 while U.S. crude futures tacked on 0.6% at $50.24. Gold overnight changed direction by halting a 6% decline over the last few weeks.