Stocks struggle to make headway Tuesday 14:30 GMT. Stocks are struggling for momentum, while oil prices are steadier after news of Iran's nuclear deal created volatility at the start of the week. The FTSE All-World index, which several sessions ago closed at a near 6-year high of 264.2, is easing 0.1 per cent to 263.6. The dollar is a tad softer as the yen holds its ground, while Treasury prices are nudging higher in generally cautious trading ahead of the holiday season for many nations. US markets will be shut on Thursday for Thanksgiving and only partially open on Friday, and already evidence is emerging that some investors are paring activity. The FTSE Eurofirst 300, which is down 0.4 per cent as resources groups soften, on Monday experienced its fourth quietest day of the year, with volumes a third below the 2013 average, according to Reuters. On Tuesday, the FTSE Asia Pacific index was down 0.2 per cent and in New York the S&P 500 is opening with a 2 point gain to 1,804.5. That leaves the Wall Street benchmark in line for a fresh record close, having risen 26 per cent so far this year, buoyed by a reduced financial system and eurozone tensions, improving global economic conditions and supportive corporate earnings. Many investors believe that asset prices have also been underpinned by continuing central bank stimuli, and these strategies remain the markets" prime focus. A batch of US data released later on Tuesday will be scanned for clues as to when the Federal Reserve may begin tapering its $85bn a month of bond purchases. Prospects for the Fed taper have lifted the buck of late, but even though building permits for October and the Case-Shiller house price index came in stronger than expected on Tuesday, the greenback remains a bit softer in the current session. The dollar index is down 0.1 per cent as the euro adds 13 pips to $1.3528. US government 10-year bond prices have pared gains after the housing figures but yields, which move in the opposite direction, are still down 2 basis points to 2.72 per cent. Equivalent duration German Bunds are down 1bp at 1.72 per cent. The Japanese yen is more stable after its recent sharp declines, adding 0.1 per cent versus the dollar to Y101.57. The yen's relative sturdiness triggered some profit-taking in the Tokyo stock market, which has tended of late to display a tight inverse correlation to the Japanese currency's fortunes. The Nikkei 225 fell 0.7 per cent as export-sensitive shares came under pressure, but elsewhere in the region moves were more muddled. South Korea's Kospi rose 0.3 per cent, while Hong Kong's Hang Seng and the Shanghai Composite were barely changed. Sydney's S&P/ASX 200 managed a fractional gain, helped by the rebound of many industrial commodity prices after Monday's initial sell-off. That sectoral decline had been led by oil as some traders bet that Iran's nuclear deal would increase supplies. But analysts point out that the bulk of the sanctions against Iran remain in place and there will not be a material gain in oil supply from Tehran any time soon, pending further developments. "Oil prices recovered from the initial reaction to the Iran agreement, as investors digest the deal that did not touch the sanctions regarding oil exports," wrote economists at Crédit Agricole in a note to clients. On Tuesday, Brent crude is up 44 cents at $111.44 a barrel. The CBOE oil volatility index rose 16 per cent on Monday, but at 19.2 per cent remains near historic lows. The softer dollar cannot prevent gold from dropping back below the $1,250 mark, with the bullion down $9 on the day to $1,243 an ounce.