Global stocks rise as oil retreats
On Friday, stocks mostly gained in Europe and Asia, while oil prices fell after their recent increase. US futures are also higher (S&P 500 +0.4%, Dow Jones +0.1%).
On Friday, stocks mostly gained in Europe and Asia, while oil prices fell after their recent increase. US futures are also higher (S&P 500 +0.4%, Dow Jones +0.1%).
Europe: The DAX rose 0.7% to 24,975.62, the CAC 40 gained 0.8% to 7,789.91, and the FTSE 100 climbed 0.7% to 10,515.43.
Asia: The Nikkei 225 was almost unchanged (69,030.92). The Hang Seng rose 1.6%, the Sensex 1.2%, the ASX 200 0.6%, and the Shanghai Composite 0.1%. China is due to release its latest economic growth data next week.
Wall Street: Trading was volatile on Thursday. The S&P 500 fell 0.5% for a second straight day after hitting a record high, the Dow lost 0.1%, and the Nasdaq dropped 1.3%. Technology stocks took the biggest hit.
Oil: Brent crude had risen 4.1% to $104.28 on Thursday. Prices fell after Trump said “productive discussions” with Iran were under way and that there would be no attack before the November elections. On Friday morning, Brent was at $103.28 and WTI at $90.75. Because of the war with Iran, prices have fluctuated between $96 and $110 over the past month.
Bonds: Yields are at their highest levels in years. The 10-year yield fell from 5.35% to 5.23%, and the 30-year yield from 5.73% to 5.60%. The budget deficit for the fiscal year reached about $2 trillion.
Companies: PepsiCo reported better-than-expected results, and its shares rose 3.7%. However, declines in chipmakers such as Nvidia (-2.9%), Broadcom (-4.3%), and Micron (-4.8%) overshadowed the gain. Pressure is growing on AI companies to show strong growth.
Currencies: The dollar rose to 158.37 yen, and the euro rose to $1.1228.