Dollar strengthens on strong data
US stock market extended losses on Friday amid concerns global growth risks are rising with no indication US and China trade dispute will be resolved soon. S&P 500 lost 1.9% to 2599.95, closing 1.2% lower for the week. Dow Jones industrial average fell 2% to 24100.51. The Nasdaq dropped 2.3% to 6910.66. The dollar strengthening accelerated after data showed both the retail sales and industrial production rose more than expected in November: 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 0.4% to 97.44 but is lower currently. Futures on stock indexes indicate lower openings today.
CAC 40 still the loss leader among European indices
European stocks losses widened on Friday after weak data. The GBP/USD joined EUR/USD’s continued slide with both pairs higher currently. The Stoxx Europe 600 Index fell 0.6% but ended the week 0.5% higher. The DAX 30 lost 0.5% to 10865.77. France’s CAC 40 dropped 0.9% and UK’s FTSE 100 fell 0.5% to 6845.17.
Australian stocks lead Asian indices gains
Asian stock indices are mostly higher today after losses Friday following reports Chinese industrial output and retail sales slowed in November. Nikkei gained 0.6% to 21506.88 with yen resuming slide against the dollar. Chinese stocks are higher as traders bet on more stimulus measures: the Shanghai Composite Index is up 0.2% and Hong Kong’s Hang Seng Index is 0.02% higher. Australia’s All Ordinaries Index pared some of its Friday losses as it turned 1% higher as the Australian dollar turned higher against the greenback.
Brent up
Brent futures prices are higher today. Prices ended lower on Friday: Brent for February settlement slid 1.9% to close at $60.28 a barrel Friday, a 2.7% loss for the week.
US stock market extended losses on Friday amid concerns global growth risks are rising with no indication US and China trade dispute will be resolved soon. S&P 500 lost 1.9% to 2599.95, closing 1.2% lower for the week. Dow Jones industrial average fell 2% to 24100.51. The Nasdaq dropped 2.3% to 6910.66. The dollar strengthening accelerated after data showed both the retail sales and industrial production rose more than expected in November: 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 0.4% to 97.44 but is lower currently. Futures on stock indexes indicate lower openings today.
CAC 40 still the loss leader among European indices
European stocks losses widened on Friday after weak data. The GBP/USD joined EUR/USD’s continued slide with both pairs higher currently. The Stoxx Europe 600 Index fell 0.6% but ended the week 0.5% higher. The DAX 30 lost 0.5% to 10865.77. France’s CAC 40 dropped 0.9% and UK’s FTSE 100 fell 0.5% to 6845.17.
Australian stocks lead Asian indices gains
Asian stock indices are mostly higher today after losses Friday following reports Chinese industrial output and retail sales slowed in November. Nikkei gained 0.6% to 21506.88 with yen resuming slide against the dollar. Chinese stocks are higher as traders bet on more stimulus measures: the Shanghai Composite Index is up 0.2% and Hong Kong’s Hang Seng Index is 0.02% higher. Australia’s All Ordinaries Index pared some of its Friday losses as it turned 1% higher as the Australian dollar turned higher against the greenback.
Brent up
Brent futures prices are higher today. Prices ended lower on Friday: Brent for February settlement slid 1.9% to close at $60.28 a barrel Friday, a 2.7% loss for the week.