Dollar weakens after jobs report
US stock market extended losses on Friday amid US-China trade prospects uncertainty. S&P 500 fell 2.3% to 2633.08, closing 4.8% lower for the week. Dow Jones industrial average lost 2.2% to 24388.95. The Nasdaqdropped 3.1% to 6969.25. The dollar weakening continued as softer than expected November jobs report supported the view Federal Reserve may slow its tightening pace as it takes into account declining inflationary pressures: 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, fell 0.2% to 96.573 and is lower currently. Futures on stock indexes point to lower openings today.
FTSE 100 outperforms other European indices
European stocks pared some of previous session sharp losses on Friday. EUR/USD continued its climb while theGBP/USD turned lower with both pairs rising currently. The Stoxx Europe 600 Index added 0.6%. The DAX 30however lost 0.2% to 10788.09. France’s CAC 40 rose 0.7% and UK’s FTSE 100 outperformed rising 1.1% to 6778.11.
Australian stocks lead Asian indices losses
Asian stock indices are falling today as global trade prospects remained in focus as US said March 1 is ‘hard deadline’ for trade deal with China. Nikkei fell 2.1% to 21219.50 with yen paring sharp earlier gains against the dollar. Chinese stocks are lower after data showed China’s export growth slowed: the Shanghai Composite Index is down 0.8% and Hong Kong’s Hang Seng Index is 1.4% lower. Australia’s All Ordinaries Index turned sharply lower falling 2.3% as the Australian dollar turned higher against the greenback.
Brent up after OPEC oil cuts decision
Brent futures prices are extending gains today. Prices ended higher on Friday on news the Organization of the Petroleum Exporting Countries and major oil producers reached an agreement to curb production starting in January. Brent for February settlement rose 2.7% to close at $61.67 a barrel Friday, a 3.7% gain for the week.
US stock market extended losses on Friday amid US-China trade prospects uncertainty. S&P 500 fell 2.3% to 2633.08, closing 4.8% lower for the week. Dow Jones industrial average lost 2.2% to 24388.95. The Nasdaqdropped 3.1% to 6969.25. The dollar weakening continued as softer than expected November jobs report supported the view Federal Reserve may slow its tightening pace as it takes into account declining inflationary pressures: 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, fell 0.2% to 96.573 and is lower currently. Futures on stock indexes point to lower openings today.
FTSE 100 outperforms other European indices
European stocks pared some of previous session sharp losses on Friday. EUR/USD continued its climb while theGBP/USD turned lower with both pairs rising currently. The Stoxx Europe 600 Index added 0.6%. The DAX 30however lost 0.2% to 10788.09. France’s CAC 40 rose 0.7% and UK’s FTSE 100 outperformed rising 1.1% to 6778.11.
Australian stocks lead Asian indices losses
Asian stock indices are falling today as global trade prospects remained in focus as US said March 1 is ‘hard deadline’ for trade deal with China. Nikkei fell 2.1% to 21219.50 with yen paring sharp earlier gains against the dollar. Chinese stocks are lower after data showed China’s export growth slowed: the Shanghai Composite Index is down 0.8% and Hong Kong’s Hang Seng Index is 1.4% lower. Australia’s All Ordinaries Index turned sharply lower falling 2.3% as the Australian dollar turned higher against the greenback.
Brent up after OPEC oil cuts decision
Brent futures prices are extending gains today. Prices ended higher on Friday on news the Organization of the Petroleum Exporting Countries and major oil producers reached an agreement to curb production starting in January. Brent for February settlement rose 2.7% to close at $61.67 a barrel Friday, a 3.7% gain for the week.