Global Stock Markets
The dollar fell Friday, reversing a rally that had followed comments from President Donald Trump, as traders dissected conflicting messages from U.S. officials.
The WSJ Dollar Index, which tracks the greenback against a basket of 16 currencies, was down 0.4% in midmorning trading Friday.
In equity markets, the Stoxx Europe 600 was up 0.4%, while Asian markets finished mixed. Futures pointed to an opening gain of 0.4% for the S&P 500.
The dollar’s U-turn capped a week of mixed messages from the Trump administration, with the currency’s gyrations roiling bourses from Frankfurt to Tokyo and commodities like oil and copper.
The dollar slipped to three-year lows earlier in the week after U.S. Treasury Secretary Steven
Now traders are bracing for a speech by Mr. Trump in Davos later Friday.
Market participants are also looking to the U.S. government’s release later Friday of its first estimate of gross domestic product for the fourth quarter of 2017.
Economists polled by The Wall Street Journal estimate output rose at a 2.9% annual rate from October through December, which would mark another solid showing.
A strong U.S. economy would add to signs that a global economic upswing, which has lifted stock markets in recent months, is set to continue.
Yields on 10-year U.S. Treasury notes rose to 2.643% from 2.628%. Yields move inversely to prices.
In Asia, most markets mostly marked time Friday, with Japan’s Nikkei Stock Average down 0.2%.
Hong Kong’s Hang Seng Index bucked the trend, rising to a record on strength in bank stocks.
The weaker dollar boosted oil prices, with Brent crude, which had hit three-year highs earlier in the week, rising 0.3% to $70.60 a barrel. Gold was down 0.7%.
The WSJ Dollar Index, which tracks the greenback against a basket of 16 currencies, was down 0.4% in midmorning trading Friday.
In equity markets, the Stoxx Europe 600 was up 0.4%, while Asian markets finished mixed. Futures pointed to an opening gain of 0.4% for the S&P 500.
The dollar’s U-turn capped a week of mixed messages from the Trump administration, with the currency’s gyrations roiling bourses from Frankfurt to Tokyo and commodities like oil and copper.
The dollar slipped to three-year lows earlier in the week after U.S. Treasury Secretary Steven
Now traders are bracing for a speech by Mr. Trump in Davos later Friday.
Market participants are also looking to the U.S. government’s release later Friday of its first estimate of gross domestic product for the fourth quarter of 2017.
Economists polled by The Wall Street Journal estimate output rose at a 2.9% annual rate from October through December, which would mark another solid showing.
A strong U.S. economy would add to signs that a global economic upswing, which has lifted stock markets in recent months, is set to continue.
Yields on 10-year U.S. Treasury notes rose to 2.643% from 2.628%. Yields move inversely to prices.
In Asia, most markets mostly marked time Friday, with Japan’s Nikkei Stock Average down 0.2%.
Hong Kong’s Hang Seng Index bucked the trend, rising to a record on strength in bank stocks.
The weaker dollar boosted oil prices, with Brent crude, which had hit three-year highs earlier in the week, rising 0.3% to $70.60 a barrel. Gold was down 0.7%.
No comments:
Post a Comment