By IFCMarkets

US stocks resumed advancing on Friday despite the Federal Communications Commission vote to label Chinese telecom giants Huawei and ZTE as a national security risk. The S&P 500 advanced 0.2% to 3110.29, booking 0.3% weekly loss. Dow Jones industrial rose 0.4% to 27875.6. The Nasdaq added 0.2% to 8519.88. The dollar strengthening accelerated even more on Markit’s reports activities in both manufacturing and services sectors expanded in November. 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 0.3% to 98.23 but is lower currently. Futures on US stock indices point to higher openings.

European stock indexes snapped four-session loss streak on Friday. Both the EUR/USD and GBP/USD accelerated their declines Friday with both pairs higher currently. The Stoxx Europe 600 Index rose 0.4% with resource shares’ leading advancers. The DAX 30 gained 0.2% Friday to 13163.88 as Germany avoided a recession in the third quarter as GDP expanded by 0.1% following 0.2% drop in Q2. France’s CAC 40 advanced 0.3% and UK’s FTSE 100 rose 1.2% to 7326.81 despite a decline in UK composite PMI for November.

Asian stock indices are mostly rising today. Nikkei ended 0.8% higher at 23292.81 as yen resumed its slide against the dollar. China’s markets are rising despite US Federal Communications Commission’s decision on Friday to label Chinese telecom giants Huawei and ZTE as a national security risk which will prevent them from accessing a government subsidy program: the Shanghai Composite Index is 0.7% higher and Hong Kong’s Hang Seng Index is up 1.6%. Australia’s All Ordinaries Index extended gains 0.3% despite Australian dollar’s resumed gain against the greenback.

Brent futures prices are extending losses today. Prices fell on Friday despite the oil-field services firm Baker Hughes report the number of rigs drilling for crude in US dropped by 3 last week to 671: Brent for January settlement lost 0.9% to $63.39 a barrel Friday.

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