SP 500 logs weekly loss
US major stock indices ended lower on Friday on report US special counsel Mueller’s team had issued a subpoena to Trump’s campaign in mid-October. The dollar weakened on renewed political uncertainty: 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, slid 0.3% to 93.67. S&P 500 slipped 0.3% to 2578.85. The US broad market index lost 0.2% for the week. Dow Jones industrial average lost 0.2% to 23358.24. The Nasdaq composite meanwhile edged down 0.2% to 6782.79.
European stock indices pull back
European stocks pulled back on Friday. Both the euro and British Pound advanced against the dollar. The Stoxx Europe 600 index ended the session down 0.3%. The DAX 30 fell 0.4% to 12993.73. France’s CAC 40 lost 0.3% and UK’s FTSE 100 slipped 0.1% to 7380.68. Indices opened lower today.
Asian indices mixed
Asian stock indices are mixed today as no Germany coalition government was formed triggering a euro slide. Nikkei ended 0.6% lower at 22257.00 as yen extended losses against the dollar. Chinese stocks are up in a choppy trade as investors assess new government rules for oversight of asset management products: the Shanghai Composite Index is up 0.3% and Hong Kong’s Hang Seng Index is 0.1% higher. Australia’s All Ordinaries Index is down 0.2% despite continued decline in Australian dollar against the greenback on a report Australian interest rates could remain at record lows for another year according to the International Monetary Fund.
Oil lower
Oil futures prices are lower today as traders are cautious to take big positions ahead of OPEC and other major crude oil producers November 30 meeting. Prices jumped Friday: January Brent rallied 2.2% to $62.72 a barrel on Friday, still closing 1.3% lower for the week.