By IFCMarkets

US stocks ended higher on Friday recovering from earlier losses as President Trump told he hasn’t yet approved revoking reciprocal import duties in stages together with China. The S&P 500 advanced 0.3% to fresh record 3093.08, narrowing its weekly gain to 0.8%. Dow Jones industrial added 0.02% to 27681.20. The Nasdaq rose 0.5% to 8475.31. The dollar strengthening continued at stable pace as the University of Michigan consumer sentiment index rose to 95.7 from 95.5 in October instead of a decline. 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, rose 0.2% to 98.35 but is lower currently. Futures on US stock indices point to lower openings.

European stock market snapped five-session winning streak on Friday on US-China trade deal doubts. EUR/USD and GBP/USD continued their slide Friday with both pairs higher currently. The Stoxx Europe 600 Index lost 0.3% led by energy shares. The DAX 30 slumped 0.5% Friday to 13228.56. France’s CAC 40 slipped 0.02% and UK’s FTSE 100 fell 0.6% to 7359.38.

Asian stock indices are mostly falling today. Nikkei ended 0.3% lower at 23331.84 as yen accelerated its climb against the dollar. China’s markets are falling despite report inflation hit its highest point in nearly eight years in October while one protester was shot by Hong Kong police: the Shanghai Composite Index is 1.8% lower and Hong Kong’s Hang Seng Index is down 2.8%. Australia’s All Ordinaries Index however turned higher 0.7% despite Australian dollar resuming its gains against the greenback.

Brent futures prices are edging lower today. Prices rose on Friday as the oil-field services firm Baker Hughes reported the number of rigs drilling for crude dropped by 7 last week to 691, down 202 rigs from the same time last year: Brent for January settlement rose 0.4% to $62.51 a barrel Friday.

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