Stocks rebound but remain on track for weekly loss

      Published on Saturday, 13 October , 2018      41 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
42 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



Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources
Saudi Arabia Saudi Arabia news

Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources

Saudi Arabia’s Fawaz Alhokair Group plans to offer shares in its shopping malls business in Riyadh in the…

Saudi Arabia new rules

Property prices continue to fall in key UAE markets

UAE banks invest Dh87 billion in Saudi Arabia, Egypt

King Salman receives dignitaries in Riyadh King

King Salman receives dignitaries in Riyadh

The Kingdom’s Grand Mufti Sheikh Abdul Aziz Al-Asheikh, senior scholars, ministers and a group of citizens called on…

Saudi King Salman reshapes country’s political and security affairs council King

Saudi King Salman reshapes country’s political and security affairs council

Saudi King Salman on Thursday announced a new list of appointees to key positions in the country’s political…

Saudi Arabia’s Prince Talal bin Abdulaziz has died King

Saudi Arabia’s Prince Talal bin Abdulaziz has died

Saudi Arabia’s Prince Talal bin Abdulaziz passed away on Saturday, family members and Saudi media said on Twitter.…

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…

GULF TV

Popular in GULF TV

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

1904 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