US stocks are coasting toward the finish of Wall Street’s latest winning month on Tuesday.

The S&P 500 fell 0.2 per cent in afternoon trading but remains on track for a fifth straight winning month after setting a record last week. The Dow Jones was down 145 points, or 0.3 per cent, in mid-afternoon trade, and the Nasdaq composite was 0.3 per cent lower.

The Australian sharemarket is set to edge lower, with futures at 4.57am AEST pointing to a fall of 10 points, or 0.1 per cent, at the open. The ASX lost 0.2 per cent on Tuesday. The Australian dollar was stronger at US66.15¢ at 5.11am AEST.

BHP faces a tricky session after a report China’s state-run iron ore buyer has told major steelmakers and traders to temporarily halt purchases of all new cargoes, escalating a pricing dispute th

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