Dow notches eighth straight gain

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)
Dollar weakening intact despite strong retail sales report
US stocks ended marginally lower on Friday despite strong August retail sales report . The S&P 500 slipped 0.1% to 3007.39, extending gains 1% for the week. Dow Jones industrial however rose 0.2% to 27219.52. The Nasdaq slid 0.2%. The dollar weakening continued despite Commerce Department report retail sales grew above expected 4.1% on-year in August. 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, lost 0.2% to 98.17 and is lower currently. Stock index futures point to lower openings today.

DAX leads European indexes movement
European stocks added to previous session gains on Friday buoyed by the European Central Bank rate cut and resumption of bond purchases. Both EUR/USD and GBP/USD continued climbing Friday with euro rising currently against the dollar while Pound turning lower. The Stoxx Europe 600 Index gained 0.3% led by bank and mining stocks. The DAX 30 rose 0.5% Friday to 12468.53. France’s CAC 40 advanced 0.2% and UK’s FTSE 100 added 0.3% to 7367.46.

Hang Seng leads Asian indexes losses
Asian stock indices are mostly lower today as oil prices rise. Japan’s Nikkei is closed for a holiday as yen advances against the dollar. China’s markets are lower after reports industrial output, retail sales fell short of expectations: the Shanghai Composite Index is down 0.02% and Hong Kong’s Hang Seng Index is 1.0% lower. Australia’s All Ordinaries Index ticked up 0.06% with the Australian dollar’s climb against the greenback intact.

Brent soars after drone attacks on Saudi Arabia
Brent futures prices jumped today after Sunday drone attacks on crude facilities in Saudi Arabia. Prices slipped on Friday: Brent for November settlement ended 0.3% lower at $60.22 a barrel Friday, losing 2.1% for the week.