FTSE 100 closes firmly down as Wall Street mixed

12pm EST/ 5pm: FTSE 100 closes lower FTSE 100 index closed in the red on Tuesday as hopes for a quick coronavirus vaccine  were dashed somewhat. Britain's blue chip benchmark erased most of yesterday's gains to close down over 67 points at 6,037, down 1.11% on the day. US markets were also muted after a tentative start. "Early stock market gains have been given up, as pre-market record highs for the S&P 500 failed to come to fruition despite recent hopes around an impending vaccine," noted Joshua Mahony, senior market analyst at spreadbetter IG. Mahony noted that unfortunately, while drugs titan AstraZeneca (LON:AZN) hopes to receive enough trial results by the end of 2020, the director of partner the Oxford group sees approval only coming by winter 2021. The Oxford/AstraZeneca vaccine is one of five promising candidates to reach advanced clinical trials. US and Canada 4.30pm/11.30am EST Wall Street shares were mixed in early deals in New York. The Dow Jones Industrial Average was in the red and plunged over 127 points at 28,181. The S&P 500 added 0.94 at 3,432. The tech-heavy Nasdaq added around 24 points at 11,403. Up in Toronto, the TSX plunged over 77 points to stand at 16,549. 10.30am EST/ 3.30pm: Proactive North America headlines: Blackrock Gold Corp (CVE:BRC) gets second drill rig at Tonopah West; Silver Cloud drilling set for the Fall Globex Mining (TSX:GMX) (OTCMKTS:GLBX)  closes two additional property deals to raise $1.7M in cash Klondike Gold Corp (CVE:KG) (OTCPINK:KDKGF) plans C$2.5M private placement for Yukon exploration Antibe Therapeutics (CVE:ATE) (OTCQB:ATBPF) plans to file IND with regulator for lead drug otenaproxesul Phunware Inc (NASDAQ:PHUN) adds ‘big four’ firm to customer list for mobile corporate campus solution Helix Technologies Inc (OTCQB:HLIX) says it has launched nation’s first online medical marijuana reciprocity portal in New Mexico Newgioco Group Inc (NASDAQ:NWGI) scores top 5 market share in Italian online poker market in latest industry rankings XPhyto Therapeutics Corp (CSE:XPHY) (OTCPINK:XPHYF) rapidly advances its drug delivery system for Parkinson's skin patches NexTech AR Corp (OTCQB:NEXCF) (CSE:NTAR)  appoints SAP executive Eugen Winschel as chief operating officer MindMed (MindMed)Inc (NEO:MMED) (OTCQB:MMEDF) announces first-ever clinical trial combining MDMA and LSD 9.45am: Wall Street makes mixed start Despite expectations of a higher start across the board, the main indices in New York were a more mixed picture on Tuesday morning as the Nasdaq and Dow turned red in the early minutes of trading. Shortly after the opening bell, the Dow Jones Industrial Average was down 0.06% at 28,290 while the Nasdaq was down 0.01% at 11,379. The S&P 500 was the only index in the green, rising 0.12% to 3,435. Investors do not seem to know which way to turn, with positive US-China trade developments seemingly failing to provide an overall boost for markets. However, news of a Dow Jones Industrial Average reshuffle has worked out well for three stocks scheduled to join the index, with Salesforce.com (NYSE:CRM), Amgen Inc (NASDAQ:AMGN) and Honeywell International Inc (NYSE:HON) all higher in early deals. It was less good news for Exxon Mobil Corp (NYSE:XOM), Pfizer Inc (NYSE:PFE) and Raytheon Technologies Corp (NYSE:RTX), who are being removed to make way for the new arrivals. 7.35am: Wall Street expected to open in the green The main US indices are expected to open in the green on Tuesday as signs of some positive developments in US-China trade negotiations are welcomed by traders. Spread betting quotes indicate the Dow Jones will advance 175 points to 28,485, the S&P will climb 14 points to 3,445 and the NASDAQ Composite will jump 276 points to 11,656. However, one thing investors may be keeping an eye on is a “tentative rise in the Vix in recent days,” according to IG’s Chris Beauchamp, referring to the index (sometimes referred to as the Fear Index) that tracks volatility in the markets. “Having dropped sharply in June and July, the market’s ‘fear gauge’ has slowed its decline in August, and as the month draws to a close it appears to be gaining ground. A mis-step by the Fed this week might provide the spark for a bounce in this reading, providing a rude shock for equity markets, which in the US case have become used to a life of steady gains,” he added. Neil Wilson of markets.com reckons economists remain concerned about the double dip. “According to the National Association for Business Economics, there is a one in four chance the US economy could fall into a double-dip recession. Two-thirds of economists surveyed think the world’s largest economy remains in recession,” Wilson reported. Five things to watch for on Tuesday: Further developments in US-China trade negotiations after the latter reported constructive dialogue in a meeting that included US trade representative Robert Lighthizer and treasury secretary Steven Mnuchin as well as Chinese vice premier Liu He Share price reaction following earnings from US consumer electronics retailer Best Buy Co Inc (NYSE:BBY), which did not provide guidance due to uncertainty over the coronavirus pandemic Earnings data from computing giant Hewlett Packard Enterprise Co (NYSE:HPE) Macroeconomic data for the US including the consumer confidence index and new home sales. A speech from Richmond Fed president Tom Barkin may also elicit macro interest Political developments as the second day of the Republican National Convention begins