Stocks rebound but remain on track for weekly loss

      Published on Saturday, 13 October , 2018      9 Views     
Stocks rebound but remain on track for weekly loss

  • Business

Stock markets worldwide bounced back on Friday after a multi-day sell-off but remained on track for their biggest weekly losses in months, while U.S. Treasury yields inched higher and the dollar held its gains.

Wall Street rose as investors returned to technology and other growth sectors, but gains were limited by ongoing worries about U.S.-China trade tensions and rising interest rates.



All three U.S. stocks indexes, however, were on track for their biggest weekly declines since late March.

The biggest market shakeout since February has been blamed on factors including fears about the impact of the U.S.-China tariff fight, a spike in U.S. bond yields this week and caution ahead of earnings season.

Kicking off the U.S. earnings reporting period, three of the largest U.S. banks reported double-digit profit growth on Friday.

The results reflected an array of positive business factors including a lift from cost-cutting programs they implemented after the 2007-2009 financial crisis.

The Dow Jones Industrial Average rose 173.34 points, or 0.69 percent, to 25,226.17, the S&P 500 gained 26.36 points, or 0.97 percent, to 2,754.73 and the Nasdaq Composite added 129.74 points, or 1.77 percent, to 7,458.81.

The pan-European FTSEurofirst 300 index lost 0.25 percent and MSCI’s gauge of stocks across the globe gained 0.85 percent.

The dollar index rose 0.22 percent, with the euro down 0.26 percent to $1.1563.

U.S. Treasury yields edged up, recovering from falls in the previous session, after data showed U.S. import prices grew at a faster pace than expected last month, adding to the narrative that inflation is accelerating.

Benchmark 10-year notes last fell 4/32 in price to yield 3.1443 percent, from 3.131 percent late on Thursday.

Gold was down 0.5 percent at $1,217.81 an ounce. On Thursday, bullion jumped about 2.5 percent on safe-haven buying during an equities selloff.



Oil rebounded as the equities rally lent support, though prices pared gains after a closely watched forecaster deemed supply adequate and the outlook for demand weakening. U.S. crude rose 0.5 percent to settle at $71.34 a barrel, while Brent gained 0.2 percent to $80.43.


Category Business | 2018/10/13 latest update at 10:00 PM
Source : SPA | Photocredit : Google
10 Views
Comments Add comment



Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Bahraini crown prince meets Saudi officials in Riyadh King

Bahraini crown prince meets Saudi officials in Riyadh

Bahrain Crown Prince Salman bin Hamad Al-Khalifa held talks with Saudi officials in Riyadh this week. His visit…

King Salman: Iran creates chaos devastation in the region Gulf TV, Saudi Arabia

King Salman: Iran creates chaos devastation in the region

SaudiArabia’s King Salman said that #Iran creates chaos and devastation in the region, interferes in surrounding countries’ internal…

Saudi Arabia King Salman meets president of Niger at Riyadh palace King

Saudi Arabia King Salman meets president of Niger at Riyadh palace

King Salman met the President of Niger, Mahamadou Issoufou, at his palace in Riyadh on Monday. The leaders held talks on boosting…

King Salman unveils $35.6 billion project for industrial city King

King Salman unveils $35.6 billion project for industrial city

Boosting the country’s mining infrastructure, Saudi Arabia has unveiled a SAR 86 billion ($35.6bn) project, Wa’ad Al Shamal,…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

1703 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government