Trade-sensitive technology stocks led losses in European markets on Friday after U.S. chipmaker Broadcom’s sales warning and disappointing industrial data out of China came as the clearest signs yet of the damage trade war may do to global growth. The markets finished lower with shares in Germany leading the region. The DAX is down 0.60% while London's FTSE 100 is off 0.31% and France's CAC 40 is lower by 0.15%.The pan-European STOXX 600 index closed down 0.40%.
U.S. stocks ended lower on Friday, with investors cautious going into next week’s Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers. The Dow Jones Industrial Average slipped 17.16 points, or 0.07%, to 26089.61, while the S&P 500 lost 4.66 points, or 0.16%, to 2886.98 and Nasdaq Composite fell 40.47, or 0.52%, to 7796.66. The declines mark a pause in what has otherwise been a strong start to June, and all three indexes logged gains for the week.
Oil rose on Friday after attacks on two oil tankers in the Gulf of Oman this week raised concerns about potential supply disruptions, but prices remained on track for a weekly loss on fears that trade disputes will dent global oil demand. U.S West Texas Intermediate crude futures settled 23 cents or 0.43% higher at $52.74. Brent Crude futures rose 70 cents, or 1.14%, at $62.01 a barrel.
Global stocks struggled and safe haven bets were back in play on Friday with German bond yields plumbing record lows as Chinese data rekindled woes about the health of the global economy and fears of a new U.S.-Iran confrontation intensified.
Asian markets finished mixedon Friday
European stocks suffer biggest fall in two weeks
U.S. stocks ended lower on Friday,
China May industrial production growth at 17-year low
German 10-yr Bund yields hit fresh record low. U.S. the yield on 10-year Treasuries was little changed.
Tech stocks lead falls after Broadcom warning hits chipmakers Wall Street expected to open loBritain’s 10-year yield rose one basis pointwer
Caution seen prevailing ahead of Fed’s meeting next week.
Growing worries about a new U.S.-Iranian confrontation after two attacks on two oil tankers in the Gulf of Oman on Thursday added to the unhappy mood. The attacks set crude prices on a roller coaster ride. Oil rose on Friday
In currency markets, the dollar’s index against a basket of six major currencies was little changed. The euro declined 0.6%. The British pound decreased 0.7% . The Japanese yen slipped 0.2%
Spot gold hits 14-month highs.
Asian shares got off to a shaky start on today morning as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check. However, markets are generally trading higher as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.14% while the Hang Seng is up0.91%. The Nikkei 225 is up 0.09%. The Kospi is up 0.03%. The ASX 200 is off 0.27%.
SGX Nifty Futures in Singapore Exchange is tradiung 1.00 points or 0.09% down at 11,820.00
Our Markets are likely to open flat to negative bias on today following a mixed trend seen in other Asian markets
Oil prices rose on today after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week. Brent futures rose 22cents, 035% to $62.23 a barrel by 03.28 GMT. They rose 1.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures were up 16 cents, or 0.30%, at $52.67 a barrel. They rose 0.4% in the previous session.
Asian stocks closed generally higher on today, with a rebound in the Hong Kong market helping the mood, as investors remained cautious ahead of a closely-watched Federal Reserve meeting. The Hang Seng is up 0.40% while China's Shanghai Composite is up 0.20% and Japan's Nikkei 225 is up 0.03%. The Kospi is down 0.22%. The ASX 200 is off 0.35%.
European stocks are trading mixed/flat today morning as investors await this week’s crucial U.S. Federal Reserve meeting. The pan-European STOXX 600 index is down 0.02%. The FTSE 100 is up 0.09% while the CAC 40 gains 0.11%. The DAX is flat 0ff 0.02%.