Global markets end week on a strong note

Global markets end week on a strong note

World stocks rose Friday, ending a shaky week on a positive note as investors looked ahead to crucial trade talks next week between China and the United States, and responded to solid corporate earnings reports.

US President Donald Trump announced he had agreed to re-open the federal government after public services started to buckle — but markets appeared little moved, BSS reports.

European and US equities barreled higher after a strong performance in Asian equity markets.
Karl Haeling of LBBW told AFP Wall Street was most receptive to positive news.

“The market still trades with this bias to react more to positive news than negative news,” he said.

He also noted that in the late afternoon markets largely expected Trump to blink first in the battle of wills over the government shutdown.

“Once we got confirmation, it gave the market no support at all.”

Earlier in the day, The Wall Street Journal also reported that the Federal Reserve was considering curtailing the runoff of its multi-trillion-dollar bond holdings, lifting investor sentiments.

Intel sank 5.5 percent on disappointing earnings but investors largely looked past this, cheered by a run of other good quarterly results.

The good feeling extended to the tech sector, with Apple, Amazon, Google-parent Alphabet and Facebook all posting solid gains.

Eyes will turn to trade and monetary policy developments next week as US officials host a Chinese trade delegation and the Federal Reserve announces its latest monetary policy decision.

Oil prices rose as instability in Venezuela fueled concerns about supplies from the major producer, with Trump weighing sanctions on Nicolas Maduro’s regime and backing opposition leader Juan Guaido as the country’s interim president.

Key figures around 2130 GMT

New York – Dow: UP 0.8 percent at 24,737.20 (close)
New York – S&P 500: UP 0.9 percent at 2,664.76 (close)
New York – Nasdaq: UP 1.3 percent at 7,164.86 (close)

London – FTSE 100: UP 0.1 percent at 6,809.22 points (close)
Frankfurt – DAX 30: UP 1.4 percent at 11,281.79 (close)

Paris – CAC 40: UP 1.1 percent at 4,925.82 (close)
EURO STOXX 50: UP 1.2 percent at 3,163.24 (close)
Tokyo – Nikkei 225: UP 1.0 percent at 20,773.56 (close)

Hong Kong – Hang Seng: UP 1.7 percent at 27,569.19 (close)
Shanghai – Composite: UP 0.4 percent at 2,601.72 (close)
Euro/dollar: UP at $1.1413 from $1.1304 at 2200 GMT Thursday
Pound/dollar: UP at $1.3200 from $1.3066

Dollar/yen: DOWN at 109.48 yen from 109.64

Oil – Brent Crude: UP 55 cents at $61.64 per barrel
Oil – West Texas Intermediate: UP 56 cents at $53.69