The Singapore stock market on Tuesday snapped the two-day losing streak in which it lost 80 points or 4.5 percent on profit taking after a six-day winning streak. The Straits Times Index regained support at 2,170 points one day after giving it up, although analysts warn that the market could slide right back down again on Wednesday.

The global forecast for the Asian markets is inconclusive, although some of the markets may experience a downside correction after a series of lengthy winning streaks. Technology shares may fall under pressure, as could the auto shares after weak corporate news. The European markets were mostly lower, as were the U.S. markets, and the Asian bourses are forecast to follow that lead.

The STI finished modestly higher on Tuesday, with strength from the financial sector nudging the market into positive territory. For the day, the index added 12.03 points or 0.56 percent to close at 2,178.13 after trading between 2,135.37 and 2,191.51.

Among the gainers, DBS Group was up 2.3 percent, while Oversea-Chinese Banking Corp surged 4.1 percent, United Overseas Bank gained 0.9 percent, CapitaLand rose 0.6 percent and Singapore Telecommunications was up 0.7 percent.

The lead from Wall Street is mixed as stocks showed some volatility over the course of the trading day on Tuesday, with the major averages having difficulty sustaining any significant moves before ending the session mixed. The choppy trading came as traders expressed some uncertainty about the outlook for the markets.

While stocks initially moved higher following the weakness that was seen in the previous session, buying interest waned not long after the open. The major averages subsequently pulled back off their highs for the session and into negative territory.

The pullback by the markets was partly due to concerns about the outlook for General Motors (GM), which moved sharply lower on the day to reach its lowest levels since the depression. The loss by GM came as traders worried that the company is on the verge of filing for bankruptcy after several company executives revealed that they sold their GM stock and liquidated their remaining direct holdings in the company.

Shares of rival Ford (F) also came under pressure after the automaker announced a public offering of 300 million shares of its common stock. Ford closed down 17.6 percent, pulling back further off the ten-month closing high it set last week. Selling pressure remained somewhat subdued, however, and stocks showed a notable move back to the upside in late day trading. The major averages all moved well off their worst levels of the day, with the Dow climbing firmly into positive territory.

In economic news, the Commerce Department released a report earlier in the day showing that the U.S. trade deficit for March came in wider than in the previous month, with the value of exports falling by more than the value of imports. While the report showed that the trade deficit widened to $27.6 billion in March from a revised $26.1 billion in February, economists had expected the deficit to widen to $29.0 billion.

Separately, a report from the Trustees for Medicare and Social Security showed that the funds that the programs rely on are being depleted at a faster rate than originally forecast. At the updated rate, Medicare's expenses will exceed taxpayer revenue in 2017, two years ahead of the earlier estimate, while Social Security's trust fund will be wiped out in 2037, four years ahead of the earlier estimate.

The major averages eventually ended the session mixed, with the Dow posting a moderate gain. While the Dow closed up 50.34 points or 0.6 percent at 8,469.11, the NASDAQ fell 15.32 points or 0.9 percent to 1,715.92 and the S&P 500 closed down 0.89 points or 0.1 percent at 908.35.

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