By IFCMarkets
Dow bounces back into positive territory
US stocks rebounded on Friday in volatile session recording the worst weekly decline in two years however. S&P 500recovered 1.5% to 2619.55 led by technology shares, up 2.5%. Dow Jones industrial average rose 1.4% to 24190.90, returning back into positive territory. Both the US broad market index and Dow industrial fell 5.2% for the week. TheNasdaq composite added 1.4% to 6874.47. The dollar resumed strengthening: 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 90.426. Index futures point to higher openings today.
European indices open higher
European stocks retreat continued on Friday as turmoil on Wall Street undermined investors risk appetite. Both theeuro and British Pound turned lower against the dollar. The Stoxx Europe 600 index fell 1.5%. The DAX 30 lost 1.3% to 12107.48. France’s CAC 40 slumped 1.4% and UK’s FTSE 100 fell 1.1% to 7092.43. Markets opened 0.7%-1% higher today.
Asian markets rebound
Asian stock indices are mostly higher today. Yen resumed strengthening against the dollar in light trading with markets closed in Japan for a holiday. Chinese stocks are mixed: the Shanghai Composite Index is up 0.5% while Hong Kong’s Hang Seng Index is 03% lower. Australia’s All Ordinaries Index is down 0.3% as continued Australian dollar extends gains against the greenback.
Brent recovers
Brent futures prices are edging higher today with US output increase worries capping the gains. Prices fell Friday on rising US domestic output concerns after Baker Hughes reported a third straight week of increases in the number of active US oil rigs. April Brent fell 3.1% to $662.79 a barrel on Friday. It lost 8.4% in the week.
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