European shares rose on Friday after U.S. President Donald Trump predicted a swift end to a damaging trade war with China. The pan-European STOXX 600 ended up 0.56%. The CAC 40 is up 0.67% while London's FTSE 100 is up 0.65% and Germany's DAX is up 0.49%.
U.S. stocks gained on Friday, ahead of a long Memorial day weekend, as investors breathed a sigh of relief after President Donald Trump indicated that the protracted trade war with China could end soon. The Dow gained 95.22 points, or 0.37%, to 25,585.69, while the S&P 500 index climbed 3.82 points, or 0.14%, to 2,826.06. The Nasdaq Composite Index advanced 8.72 points, or 0.11%, to 7,637.01. For the week, all indexes ended lower with the Dow off 0.7%, the S&P 500 down 1.2% and the Nasdaq 2.3% lower.
Oil prices climbed more than 1% on Friday ahead of long U.S. and UK holiday weekends, but posted the biggest weekly drop of the year, pressured by rising inventories and worries about the global economy. West Texas Intermediate crude for July delivery on the New York Mercantile Exchange rose 72 cents, or 1.2%, to settle at $58.63 a barrel on the New York Mercantile Exchange. It notched a weekly decline of about 6.4%, its steepest since December. Global benchmark July Brent added 93 cents, or 1.4%, to $68.69 a barrel, ending 4.9% lower on the week. but the global benchmark notched a weekly decline of about 4.5%.
World equity markets rebounded on Friday from heavy selling the previous day after President Donald Trump said U.S. complaints against China’s Huawei Technologies might be resolved within the framework of a Sino-U.S. trade deal.
Asian stock markets were mixed on Friday
European shares rose on Friday
On Wall Street, the Dow Jones Industrial Average rose
Oil see-sawed after early gains and remained on track for its biggest weekly drop
British PM May announces resignation, pound bounce fades.
Sterling steadies, Dollar off 2-year highs
Benchmark 10-year U.S. Treasury notes fell.
British Prime Minister Theresa May’s resignation briefly sent sterling fluctuating wildly.
Londen Markets will close on Monday on account of Late May Bank Holiday.
U.S. markets will close on Monday for Memorial Day, a federal holiday.
Asia stocks are generaly lower on today morning, and the euro was confined to a narrow range after the weekend’s European Parliament elections highlighted the deepening political fragmentation of the 28-country bloc. Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.28% while the Hang Seng is down 0.56%. The Nikkei 225 is up 0.31%. The Kospi and ASX 200 are flat with a marginal loss of 0.05% and 0.01% respectively.
Asia stocks inched up but closed mixed today amid concerns about U.S.-China tensions while the euro stayed in a narrow range after the weekend’s European Parliament elections. The Shanghai Composite gained 1.38% and the Nikkei 225 rose 0.31%. The Hang Seng lost 0.24%. The Kospi ended 0.05% down. Teh ASX 200 ismdown 0.06%.
European markets are higher today as confirmation of merger talks between Fiat Chrysler and Renault to create the world’s third-largest car maker thrust shares higher, while investors assessed the results of the EU Parliament elections. The pan-European STOXX 600 was up 0.26%. The CAC 40 is up 0.23% while the DAX is up 0.45%. The British FTSE 100 is closed on account of holiday.