By IFCMarkets

US stock market rebounded on Friday led by technology shares. S&P 500 ended 1.4% up at 2767.13, closing 4.1% lower for the week. Dow Jones industrial average gained 1.2% to 25339.99. The Nasdaq rallied 2.3% to 7496.89. The dollar strengthening resumed as import prices rose 0.5% in September: 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, gained 0.3% to 95.249 but is lower currently. Futures on stock indices point to lower openings today.

European stocks extended losses on Friday. Both the EUR/USD and GBP/USD turned lower with GBP/USD lower currently while EUR/USD is rising. The Stoxx Europe 600 Index slid 0.2%, booking 4.6% loss for the week. The DAX 30 fell 0.1% to 11523.81. France’s CAC 40 retreated 0.2% and UK’s FTSE 100 lost 0.2% to 6995.91. Markets opened lower 0.1% to flat today. German stock exchange open remains delayed, due to technical issues

Asian stock indices are falling today led by Japanese stocks after Friday’s recovery. Nikkei fell 1.9% to 22271.30 as yen turned higher against the dollar. Chinese stocks are solidly lower: the Shanghai Composite Index is down 1.5% and Hong Kong’s Hang Seng Index 1.7% lower. Australia’s All Ordinaries Index turned 1% lower as Australian dollar rose against the greenback.

Brent futures prices are extending gains today on rising Saudi tensions after reports over the disappearance of a prominent Saudi journalist. Prices gained on Friday despite oil services firm Baker Hughes report the number of rigs drilling for oil in the US rose by 8 last week to 869, after three consecutive drops: Brent for December settlement rose 0.2% to close at $80.43 a barrel Friday, falling 4.4% for the week.

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