By IFCMarkets
US stocks were mixed on Thursday. S&P 500 dropped 0.35% to 2,191.09 while Nasdaq Composite declined 1.36% to 5,251.11 on sharp fall in technology stocks. On the other hand, Dow Jones industrial average rose 0.36% to 19,192.07 on gains in bank and energy shares. Goldman Sachs added 3.3%. S&P 500 financial index was up 1.7% while S&P 500 energy index climbed 0.3%. US dollar index, a measure of a greenback’s value against a basket of six major currencies, lost 0.4% on Thursday to 101.06, having previously touched a 13-1/2-year high of 102.05. US dollar edged lower as investors booked profits after substantial November gains in US currency as Donald Trump promised to support actively the US economy. Facebook stocks lost 2.8% to $115.14, Microsoft slid 1.8% to $59.18 which pushed Nasdaq index towards its 2-week low. Technology stocks lost 3% so far after the US presidential elections while S&P 500 managed to rise 2%. Dollar General shares slumped %% weighing on S&P 500 index on the news its quarterly sales fell. Bluebird Bio stocks surged 13.8%. Today on Friday investors anticipate US non-farm payrolls at 14:30 CET to prove US economic recovery and to shed light on the chances of US Fed December rate hike. Traders price in 91% chance of the rate hike this months, according to Thomson Reuters data.
European stocks dipped to a 3-week low on Friday ahead of referendum in Italy as it may cause political uncertainly in the region. Pan-European STOXX EUROPE 600 index lost 1.2% on weak performance of financial stocks and commodities after oil retreated from its 16-month highs. Speaking of national indices, British FTSE 100 fell 1.13% to 6,707.27, German DAX 30 lost 0.96% to 10,537.99 while French CAC 40 dipped 0.52% to 4,554.70. Italian stocks were advancing in contract to other European indices as banks stocks were in demand as concerns over the referendum in Italy eased.
Asian stocks were on decline on Friday as US 10-year Treasury yields advanced to 18-month high on prospects of US rate hike this month. Japanese Nikkei fell on Friday as investors booked profits ahead of US payrolls data. The benchmark lost 0.5% to 18,426.08 points. Broader Topix dropped 0.4% to 1,477.98. USDJPY was flat at 114.055 yen having previously hit the highest level since February. Chinese CSI 300 index lost 1%. Hong Kong’s Hang Seng index fell 1.2%.
Oil prices retreated 1.5% to around $53 a barrel on Friday after the record rally in 6 years triggered by OPEC decision to cut oil output. Front-month Brent crude futures fell 82 cents to $53.12 a barrel while WTI oil dipped 65 cents to $50.40.
Gold prices were advancing on Friday. Spot gold added 0.1% to $1,171.96 an ounce. US gold futures rose 0.3% to $1,173. A day before, gold fell to the lowest since February at $1,160.38. Holdings of the world’s largest ETF SPDR Gold Trust slid 1.54% to 870.22 tonnes on Thursday. Silver prices lost 0.6% to $16.37 an ounce while platinum advanced 0.8% to $918.
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