US stocks end week slightly lower
|Dollar strengthening accelerates on US retail sales report
US stock market ended marginally lower on Friday led by technology shares. The S&P 500 slid 0.2% to 2886.98, adding 0.5% for the week. Dow Jones industrial slipped 0.1% to 26089.61. The Nasdaq lost 0.5% to 7796.66. The dollar accelerated strengthening as data showed retail sales grew 0.5% in May, while sales were revised to 0.3% growth in April after an initial estimate of 0.2% decline. 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 0.5% to 97.55 but is lower currently. Futures on US stock indices point to higher openings today.
DAX 30 led European indexes losses
European stocks pulled back on Friday. Both the GBP/USD and EUR/USD accelerated their slide but are higher currently. The Stoxx Europe 600 Index lost 0.6% Friday. The DAX 30 slumped 0.6% to 12096.40. France’s CAC 40slipped 0.2% and UK’s FTSE 100 slid 0.3% to 7345.78.
Hang Seng the leader among Asian indexes
Asian stock indices are mixed today. Nikkei added 0.03% to 21124.00 with yen slide against the dollar intact. China’s markets are gaining after data showed last Friday industrial output and investment growth slowed in May: the Shanghai Composite Index is up 0.2% and Hong Kong’s Hang Seng Index is 0.5% higher. Australia’s All Ordinaries Index however pulled back 0.4% as the Australian dollar turned higher against the greenback.
Brent slips
Brent futures prices are edging lower today. Prices ended higher on Friday despite International Energy Agency downgrade of tis 2019 forecast for global oil demand: Brent for August settlement rose 1.1% to close at $62.01 a barrel Friday, falling 2% for the week.
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.