SP 500 snaps three-day winning streak as China cuts short trade visit
|Dollar strengthening resumes
US stocks pulled back on Friday as President Trump said he wanted a complete trade deal with the China, not just an agreement for China to buy more US agricultural goods. The S&P 500 slid 0.5% to 2991.90, falling 0.5% for the week. Dow Jones industrial lost 0.6% to 26934.19. The Nasdaq fell 0.8% to 8117.67. The dollar resumed strengthening: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.1% to 98.46 and is higher currently. Stock index futures point to lower openings today.
CAC 40 leads European indexes movement
European stocks extended gains fifth straight week on Friday led by energy and bank shares. Both EUR/USD and GBP/USD turned lower Friday with both pairs falling currently. The Stoxx Europe 600 Index gained 0.3%. The DAX 30 added 0.1% Friday to 12468.01. France’s CAC 40 advanced 0.6% while UK’s FTSE 100 slid 0.2% to 7344.92.
Shanghai Composite leads Asian indexes losses
Asian stock indices are mostly lower today. Japan’s Nikkei is closed for a holiday with yen lower against the dollar. China’s markets are lower as traders watch anxiously for developments on US-China trade negotiations front: the Shanghai Composite Index is down 1.0% and Hong Kong’s Hang Seng Index is 0.9% lower. Australia’s All Ordinaries Index extended gains 0.2% with the Australian dollar’s climb against the greenback resuming.
Brent slips
Brent futures prices are extending losses today as US continues investigation on alleged Iran involvement in last week drone attacks on crude facilities in Saudi Arabia. Prices slipped on Friday: Brent for November settlement ended 0.2% lower at $64.28 a barrel Friday, posting 6.7% gain for the week.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.