US stocks rebound allays global selloff fears
|Dollar strengthens on rising import prices
US stock market rebounded on Friday led by technology shares. S&P 500 ended 1.4% up at 2767.13, closing 4.1% lower for the week. Dow Jones industrial average gained 1.2% to 25339.99. The Nasdaq rallied 2.3% to 7496.89. The dollar strengthening resumed as import prices rose 0.5% in September: 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, gained 0.3% to 95.249 but is lower currently. Futures on stock indices point to lower openings today.
European indices open mostly lower
European stocks extended losses on Friday. Both the EUR/USD and GBP/USD turned lower with GBP/USD lower currently while EUR/USD is rising. The Stoxx Europe 600 Index slid 0.2%, booking 4.6% loss for the week. The DAX 30 fell 0.1% to 11523.81. France’s CAC 40 retreated 0.2% and UK’s FTSE 100 lost 0.2% to 6995.91. Markets opened lower 0.1% to flat today. German stock exchange open remains delayed, due to technical issues
NIKKEI leads Asian indices retreat
Asian stock indices are falling today led by Japanese stocks after Friday’s recovery. Nikkei fell 1.9% to 22271.30 as yen turned higher against the dollar. Chinese stocks are solidly lower: the Shanghai Composite Index is down 1.5% and Hong Kong’s Hang Seng Index 1.7% lower. Australia’s All Ordinaries Index turned 1% lower as Australian dollar rose against the greenback.
Brent higher
Brent futures prices are extending gains today on rising Saudi tensions after reports over the disappearance of a prominent Saudi journalist. Prices gained on Friday despite oil services firm Baker Hughes report the number of rigs drilling for oil in the US rose by 8 last week to 869, after three consecutive drops: Brent for December settlement rose 0.2% to close at $80.43 a barrel Friday, falling 4.4% for the week.
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