Top 5 Things to Know in The Market on Monday

Investing.com - Here are the top five things you need to know in financial markets on Monday, October 22:

1. Wall Street Points to Higher Open

U.S. stocks were set to open slightly higher, as investors turned their focus to the latest batch of corporate earnings.

At 5:25AM ET, the blue-chip Dow futures were up 50 points, or about 0.2%, the S&P 500 futures added 5 points, or around 0.2%, while the tech-heavy Nasdaq 100 futures indicated a gain of 35 points, or roughly 0.5%.

Energy management firm Halliburton (NYSE:HAL), toy maker Hasbro (NASDAQ:HAS), personal care company Kimberly-Clark (NYSE:KMB) and off-road vehicle manufacturer Polaris Industries (NYSE:PII) will post their respective financial results before the bell on Monday.

Looking ahead, notable companies reporting this week also include McDonald’s (NYSE:MCD), 3M (NYSE:MMM), and Caterpillar (NYSE:CAT) on Tuesday; Microsoft (NASDAQ:MSFT), Boeing (NYSE:BA), Visa (NYSE:V), Ford (NYSE:F), and Advanced Micro Devices (NASDAQ:AMD) on Wednesday; Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), and Twitter (NYSE:TWTR) on Thursday; and Phillips 66 (NYSE:PSX) and Colgate-Palmolive (NYSE:CL) on Friday.

The corporate earnings season is off to a strong start. With more than 15% of S&P 500 companies having reported, 83% have topped analyst expectations, according to FactSet.

2. Italy Boosts European Markets

European markets kicked the week off with gains after Moody's kept Italy's sovereign rating stable instead of cutting it to negative.

That helped calm investor anxiety as it was seen reducing the likelihood of a further downgrade to junk status for now.

Italy's FTSE MIB index was up around 1% in mid-morning trade, with lenders such as Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) faring the best.

Elsewhere across the continent, nearly all of the region's major bourses also enjoyed healthy gains, following three straight days of losses, with most sectors in positive territory.

Germany's DAX rose by around 0.6%, while the UK's FTSE tacked on 0.5%.

3. Chinese Equities Jump Most in Two Years

China's stock markets rallied sharply to enjoy their best day since March 2016, as Beijing's pledge of support for the economy and companies boosted appetite for riskier assets.

The stimulus pledge comes after the release of weaker-than-expected GDP data late last week, which revealed the slowest quarterly growth since the 2009 financial crisis.

The blue-chip CSI300 Index jumped 4.3%, while the main Shanghai Composite Index added 4%.

The strong rally helped lift most other markets in the region.

Japan's Nikkei erased losses to close around 0.4% higher, after being down more than 1% earlier, while South Korean stocks edged up 0.2%.

4. Dollar, Treasury Yields Hold Steady

Away from equities, the dollar was little changed, as U.S. Treasury yields held steady, taking a breather from last week's push higher.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was last at 95.47.

In the bond market, yields on the benchmark 10-year Treasury note stood at 3.20%.

In economic data, the Chicago Federal Reserve will release national activity index figures at 8:30AM ET (1230GMT).

The highlight of this week's data releases will come Friday, when investors get their first look at third-quarter economic growth figures.

5. Brent Oil Rises Back Above $80

In commodities, oil prices were higher to start the week, as looming U.S. sanctions on Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), are widely expected to lead to a tighter market.

The sanctions, which from Nov. 4 will include Tehran's oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.

Simmering geopolitical tensions between OPEC kingpin Saudi Arabia and the U.S. over the suspected death of Jamal Khashoggi, a prominent Saudi journalist, who disappeared after entering the Saudi consulate in Turkey earlier this month, also provided support.

Benchmark Brent crude oil futures were up 30 cents, or 0.3%, at $80.06 a barrel.

U.S. West Texas Intermediate WTI crude futures were at $69.50 a barrel, up 38 cents, or 0.5%, above their last close.

Japan stocks higher at close of trade; Nikkei 225 up 0.37%

Investing.com – Japan stocks were higher after the close on Monday, as gains in the Construction, Chemical and Food sectors led shares higher.

At the close in Tokyo, the Nikkei 225 added 0.37%.

The best performers of the session on the Nikkei 225 were Shiseido Co., Ltd. (T:4911), which rose 4.29% or 297.0 points to trade at 7228.0 at the close. Meanwhile, Yaskawa Electric Corp. (T:6506) added 3.60% or 115.0 points to end at 3310.0 and SUMCO Corp. (T:3436) was up 3.42% or 54.0 points to 1634.0 in late trade.

The worst performers of the session were Kawasaki Heavy Industries, Ltd. (T:7012), which fell 9.28% or 290.0 points to trade at 2835.0 at the close. Showa Shell Sekiyu K.K. (T:5002) declined 3.62% or 80.0 points to end at 2127.0 and Nippon Sheet Glass Co., Ltd. (T:5202) was down 3.34% or 40.0 points to 1156.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1992 to 1449 and 238 ended unchanged.

Shares in Kawasaki Heavy Industries, Ltd. (T:7012) fell to 52-week lows; losing 9.28% or 290.0 to 2835.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 0.13% to 22.36.

Crude oil for December delivery was up 0.82% or 0.57 to $69.69 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.65% or 0.52 to hit $80.30 a barrel, while the December Gold Futures contract rose 0.21% or 2.60 to trade at $1226.30 a troy ounce.

USD/JPY was up 0.20% to 112.77, while EUR/JPY rose 0.23% to 129.88.

The US Dollar Index Futures was down 0.03% at 95.41.

Dollar Slips Lower, Euro Higher as Italy Eyed

Investing.com - The dollar slipped lower against a currency basket on Monday, while the euro pushed higher even as Italy prepared to see its proposed budget for 2019 rejected by the European Union for breaching borrowing targets.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.10% to 95.28 by 03:50 AM ET (07:50 AM GMT).

Market sentiment was boosted after Chinese stocks staged the strongest rally in three years overnight after the government pledged to support the economy, which has been hit by the trade war between Washington and Beijing.

But investors remained wary amid an ongoing row between Italy’s government and the EU over Rome's 2019 draft budget, which the European Commission has slammed as an unprecedented breach of EU fiscal rules.

Reuters reported Sunday that Rome expects the EC to request Tuesday that it revise its planned budget, but the government has pledged to stick with its spending plans.

Ratings agency Moody’s downgraded Italy’s credit rating late Friday amid concerns over the planned increase in the country budget deficit, but maintained a stable rating, meaning another downgrade isn’t imminent.

EUR/USD was up 0.23% to 1.1540 as the move by Moody’s eased fears over the prospect of more severe ratings cut, which could push the country’s status into junk territory.

The euro was higher against the yen, with EUR/JPY climbing 0.42% to 130.14.

The dollar was also higher against the yen, with USD/JPY changing hands at 112.72, up 0.16% for the day.

The pound was little changed against the dollar, with GBP/USD last at 1.3082 as Brexit negotiations remained stalled amid British opposition to the EU's proposal for the land border with Northern Ireland.

China stocks higher at close of trade; Shanghai Composite up 4.09%

Investing.com – China stocks were higher after the close on Monday, as gains in the Travel&Leisure, Software&Computer Services and Technology sectors led shares higher.

At the close in Shanghai, the Shanghai Composite gained 4.09%, while the SZSE Component index climbed 4.89%.

The best performers of the session on the Shanghai Composite were Shanghai Greencourt Investment Group Co Ltd B (SS:900919), which rose 10.16% or 0.031 points to trade at 0.336 at the close. Meanwhile, Henan Huanghe Whirlwind Co Ltd (SS:600172) added 10.16% or 0.310 points to end at 3.360 and Baotou Huazi Industry Co Ltd (SS:600191) was up 10.14% or 0.360 points to 3.910 in late trade.

The worst performers of the session were Fushun Special Steel Co Ltd (SS:600399), which fell 5.08% or 0.130 points to trade at 2.430 at the close. Kangmei Pharmaceutical Co Ltd (SS:600518) declined 3.29% or 0.480 points to end at 14.090 and Danhua Chemical Technology Co Ltd A (SS:600844) was down 2.81% or 0.110 points to 3.800.

The top performers on the SZSE Component were Shenwan Hongyuan Group Co Ltd (SZ:000166) which rose 10.08% to 4.37, Guosen Securities Co Ltd (SZ:002736) which was up 10.07% to settle at 7.65 and Harbin Gloria Pharmaceuticals (SZ:002437) which gained 10.07% to close at 2.95.

The worst performers were Fujian Guanfu Modern Household Wares Co Ltd (SZ:002102) which was down 2.25% to 1.74 in late trade, Beijing Shouhang Resources Saving Co Ltd (SZ:002665) which unchanged 0.00% to settle at 5.81 and COFCO Property Group Co Ltd (SZ:000031) which was unchanged 0.00% to 4.70 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1460 to 5.

Shares in Fushun Special Steel Co Ltd (SS:600399) fell to 3-years lows; down 5.08% or 0.130 to 2.430. Shares in Kangmei Pharmaceutical Co Ltd (SS:600518) fell to 52-week lows; falling 3.29% or 0.480 to 14.090. Shares in Danhua Chemical Technology Co Ltd A (SS:600844) fell to 5-year lows; losing 2.81% or 0.110 to 3.800. Shares in Fujian Guanfu Modern Household Wares Co Ltd (SZ:002102) fell to 5-year lows; falling 2.25% or 0.04 to 1.74. Shares in Beijing Shouhang Resources Saving Co Ltd (SZ:002665) unchanged to 5-year lows; unchanged 0.00% or 0.00 to 5.81.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 28.71.

Gold Futures for December delivery was up 0.09% or 1.10 to $1229.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 0.59% or 0.41 to hit $69.69 a barrel, while the December Brent oil contract rose 0.41% or 0.33 to trade at $80.11 a barrel.

USD/CNY was up 0.06% to 6.9337, while EUR/CNY rose 0.32% to 8.0055.

The US Dollar Index Futures was down 0.14% at 95.25.

Taiwan stocks higher at close of trade; Taiwan Weighted up 0.55%

Investing.com – Taiwan stocks were higher after the close on Monday, as gains in the Oil, Gas&Electricity, Optoelectronic and Electronic Parts/Components sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 0.55%.

The best performers of the session on the Taiwan Weighted were Ruentex Materials Co Ltd (TW:8463), which rose 10.00% or 3.00 points to trade at 33.00 at the close. Meanwhile, Lotes Co Ltd (TW:3533) added 10.00% or 15.00 points to end at 165.00 and RichWave Technology Corp (TW:4968) was up 9.94% or 3.60 points to 39.80 in late trade.

The worst performers of the session were Pharmally International Holding Co Ltd (TW:6452), which fell 9.96% or 53.50 points to trade at 483.50 at the close. Elan Microelectronics Corp (TW:2458) declined 9.04% or 5.20 points to end at 52.30 and Hsin Ba Ba Corp (TW:9906) was down 7.02% or 0.68 points to 9.01.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 620 to 222 and 60 ended unchanged.

Shares in Hsin Ba Ba Corp (TW:9906) fell to 52-week lows; falling 7.02% or 0.68 to 9.01.

Crude oil for December delivery was up 0.68% or 0.47 to $69.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.69% or 0.55 to hit $80.33 a barrel, while the December Gold Futures contract rose 0.10% or 1.20 to trade at $1229.90 a troy ounce.

USD/TWD was down 0.15% to 30.858, while TWD/CNY rose 0.27% to 0.2259.

The US Dollar Index Futures was down 0.13% at 95.26.

FATF to Publish First Rules for Crypto Regulation Next Year

Investing.com - Bitcoin and other major cryptocurrency prices were little changed on Monday. Reports that the Financial Action Task Force (FATF) will publish its first rules for cryptocurrency regulation by June 2019 took center stage.

Bitcoin inched up 0.1% to $6,602.6 by 1:40 AM ET (05:40GMT) on the Bitifinex exchange, Ethereum fell 0.4% to $208.5 and Litecoin was little changed at $54.02. XRP slipped 0.7% to $0.46618 on the Poloniex exchange.  

The FATF said in a statement that the new rules will require every jurisdiction to properly license or regulate crypto exchanges and some firms to provide encrypted wallets.

“As part of a staged approach, the FATF will prepare updated guidance on a risk-based approach to regulating virtual asset service providers, including their supervision and monitoring; and guidance for operational and law enforcement authorities on identifying and investigating illicit activity involving virtual assets,” FATF said.

“In light of the rapid development of the range of financial functions served by virtual assets, the FATF will also review the scope of activities and operations covered in the amended Recommendations and Glossary in the next 12 months and consider whether further updates are necessary to ensure the FATF Standards stay relevant.”

FATF President Marshall Billingslea added that the watchdog will conduct periodic reviews to ensure countries are properly implementing the new rules.

“By June, we will issue additional instructions on the standards and how we expect them to be enforced,” he said.

In other news, Masayoshi Amamiya, Bank of Japan’s Deputy Governor, said over the weekend that he was not sure if virtual coins could enhance the monetary policies of central banks, and that the Japanese central bank currently has no plans to issue a cryptocurrency any soon.

Chinese Stocks Surge More Than 4% on Beijing's Pledge of Support

Investing.com - Asian stocks were mostly higher in afternoon trade on Monday, as Chinese stocks extended gains and surged more than 4% after Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector.

The Shanghai Composite and the Shenzhen Composite jumped 4.6% and 5.4% respectively by 1:28 AM ET (05:28 GMT).

Citing Xi’s letter to private entrepreneurs, state-owned Xinhua News Agency reported on Sunday that the President promised to support the development of private enterprises, as it is the Party Central Committee’s consistent policy. Xi also noted that “any words and practices that negate and weaken the private economy are wrong.”

However, some analysts voiced skepticism over the recent rally in mainland Chinese stocks.

"Eventually, at the end of the day, fundamentals will still rule," Vasu Menon, vice president of group wealth management at OCBC Bank told CNBC on Monday morning.

"You see a rebound today, but does it mean that the markets have turned a corner and you know, will hit higher? I'm not sure. I don't think so," Menon said.

Official data showed last week that the country’s third quarter GDP grew at the slowest pace since early 2009.

Separately, citing a policy adviser to the People’s Bank of China, Caixin reported on Monday that China's tax cuts next year could exceed the equivalent of 1% of gross domestic product (GDP).

China's GDP totaled 82.7 trillion yuan ($11.93 trillion) last year.

Hong Kong’s Hang Seng Index gained 2.3%. The shares of Standard Chartered (LON:STAN) PLC gained on Monday morning despite a report that the group plans to cut workers to reduce costs.

The Financial Times reported on Friday, citing sources, that the bank is eyeing a layoff to reduce costs as investors grew frustrated over its performance. The plan could come later this month when the bank posts its results for the third quarter.

The source also said that it plans layoffs in its Middle East and Africa division, which could lead to job cuts of up to 300 people. The bank was also said to impose a partial hiring freeze and restrictions on staff travel to reduce costs.

Elsewhere, Japan’s Nikkei 225 and South Korea’s KOSPI inched up 0.4% and 0.01% respectively.

Down under, Australia’s S&P/ASX 200 also dipped 0.1%.

Meanwhile, Saudi Arabia remained in focus as Foreign Minister Adel al-Jubeir

on Sunday called the killing of journalist Jamal Khashoggi a "huge and grave mistake," but added that Prince Mohammed was not aware of the incident and was not responsible for the killing.

U.S. Might Change Currency Test to Determine Forex Manipulator; Yuan Slips

Investing.com - The Chinese yuan slipped on Monday amid reports that U.S. is considering changing its currency test that determines which nations are manipulating their currencies.

The move could finally give U.S. President Donald Trump the chance to name China a forex manipulator, Bloomberg reported, adding that the U.S. could use a 1988 trade act with a broad definition of currency manipulation to designate a country a manipulator.

In a semi-annual report released last week, the Treasury Department declined to label China or any other trading partner of the U.S. as currency manipulators, but added that Beijing and some other countries including Germany, Japan and India have been put on a watch list.

The USD/CNY pair edged up 0.04% to 6.9333 by 1:00 AM ET (05:00 GMT). The People's Bank of China (PBOC) raised the yuan's daily fixing by 151 pips to 6.9236 per USD Monday, vs Friday's fix of 6.9387 per USD.

Meanwhile, the EUR/USD pair slipped 0.03% to 1.1512. Citing unnamed sources, Reuters reported over the weekend that the Italian government expected the European Commission to decide for the first time to ask a member state to revise its draft budget later this week.

"Italy’s 2.3 trillion euro ($2.65 trillion) public debt, one of the world’s largest, makes the country vulnerable and a potential source of contagion for other euro zone countries,” the source said.

"The movement of the euro and British pound may become increasingly sensitive to geopolitical factors such as Italy’s budget issue and Brexit talk gaining more headline exposure," said Jonathen Chan, market analyst at CMC Markets in a note.

Gold Prices Advance on Rise in Dollar

Investing.com - Gold prices settled higher on Monday morning in Asia, along with an advance in the U.S. dollar. The increase in gold prices, a safe-haven asset, is likely to be impacted by geopolitical tensions including the Saudi murder of a journalist, Italy’s budget and Brexit uncertainty.

Gold Futures for December delivery edged up 0.17% to $1,230.8 per troy ounce at 10:23PM (02:23GMT) on the Comex division of the New York Mercantile Exchange.

The U.S. dollar index, trading against a basket of currencies, gained 0.06% to 95.44, bringing up gold prices as gold is sold in U.S. dollars.

On Sunday, Saudi Arabia’s foreign minister Adel al-Jubeir told Fox News that the killing of Washington Post columnist Jamal Khashoggi was a “tremendous mistake” and blamed it on a “rogue operation.” He claimed that the de-facto leader of the kingdom, crown prince Mohammed bin Salman, was not aware of the murder, sparking international skepticism.

The UK, France and Germany released a joint statement on the same day, comdemning the murder and urging the kingdom to clarify “exactly what happened on Oct.2 [the date of Khashoggi’s disappearance] - beyond the hypotheses that have been raised so far in the Saudi investigation, which need to be backed by facts to be considered credible.”

During an interview with the Washington Post on Saturday, U.S. President Donald Trump was also critical of Saudi Arabia’s explanation of Khashoggi’s death.

“Obviously there’s been deception and there’s been lies. Their stories are all over the place,” Trump told the Post, but he also praised Prince Salman as someone “who can keep things under check.”

Elsewhere, the European Commission issued a letter last Friday, saying that Italy’s budget includes excessive spending, and the Italian government has until Monday noon to have a dialogue with the commission.

Separately, up to 670,000 people took to the streets in London in protest on Saturday, asking for a second Brexit referendum, according to the protest organizer People’s Vote. U.K. Prime Minister Theresa May has ruled out such an option and is expected to continue her opposition to the EU’s proposal of the border with Northern Ireland.

Asian Equities Mixed; Chinese Stocks Surge 3% as Xi Vows “Unwavering” Support

Investing.com - Asian equities were mixed in morning trade on Monday, while China’s Shanghai Composite and the SZSE Component both jumped more than 3% after Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector.

Citing Xi’s letter to private entrepreneurs, state-owned Xinhua News Agency reported on Sunday that the President promised to support the development of private enterprises, as it is the Party Central Committee’s consistent policy. Xi also noted that “any words and practices that negate and weaken the private economy are wrong.”

His comment came as China’s stock markets face multiple headwinds, including the escalating tensions with the U.S. and a slowing economy. Official data showed last week that the country’s third quarter GDP grew at the slowest pace since early 2009.

Separately, state media Global Times said in an editorial on Monday that U.S. Secretary of State Mike Pompeo’s warnings about the risks of investing in China were “ignorant and malicious.”

Pompeo told reporters during his trip in Latin America last week that "when China comes calling it's not always to the good of your citizens".

"When they show up with deals that seem to be too good to be true it's often the case that they, in fact, are," he said on Thursday in Mexico City, according to comments posted on the U.S. State Department's website.

Elsewhere in Asia, Hong Kong’s Hang Seng Index gained 1.2%, while Japan’s Nikkei 225 and South Korea’s KOSPI both slipped 0.3% after U.S. equities edged lower Friday.

Down under, Australia’s ASX 200 also dipped 0.5%.

Meanwhile, Saudi Arabia remained in focus as Foreign Minister Adel al-Jubeir on Sunday called the killing of journalist Jamal Khashoggi a "huge and grave mistake," but added that Prince Mohammed was not aware of the incident and was not responsible for the killing.

Israel stocks lower at close of trade; TA 35 down 0.55%

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Biomed, Technology and Oil&Gas sectors led shares lower.

At the close in Tel Aviv, the TA 35 lost 0.55%.

The best performers of the session on the TA 35 were Nice Ltd (TA:NICE), which rose 1.71% or 660 points to trade at 39300 at the close. Meanwhile, Strauss Group (TA:STRS) added 0.80% or 66 points to end at 8288 and Fattal 1998 Holdings Ltd (TA:FATTAL) was up 0.69% or 280 points to 40770 in late trade.

The worst performers of the session were Liveperson (TA:LPSN), which fell 6.40% or 517 points to trade at 7558 at the close. OPKO Health Inc (TA:OPK) declined 3.22% or 44 points to end at 1321 and Perrigo (TA:PRGO) was down 2.87% or 770 points to 26080.

Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 229 to 130 and 37 ended unchanged.

Shares in Strauss Group (TA:STRS) rose to all time highs; rising 0.80% or 66 to 8288.

Crude oil for December delivery was unchanged 0.00% or 0.00 to $69.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.90% or 0.71 to hit $80.00 a barrel, while the December Gold Futures contract fell 0.01% or 0.10 to trade at $1230.00 a troy ounce.

USD/ILS was down 0.06% to 3.6573, while EUR/ILS fell 0.00% to 4.2047.

The US Dollar Index Futures was down 0.36% at 95.38.

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.16%

Investing.com – Saudi Arabia stocks were higher after the close on Sunday, as gains in the Agriculture&Food, Industrial Investment and Financial Services sectors led shares higher.

At the close in Saudi Arabia, the Tadawul All Share added 0.16%.

The best performers of the session on the Tadawul All Share were Saudi Industrial Export Co (SE:4140), which rose 9.88% or 9.10 points to trade at 101.20 at the close. Meanwhile, Saudi Ceramic Co. (SE:2040) added 7.49% or 1.54 points to end at 22.10 and Savola Group (SE:2050) was up 6.79% or 2.00 points to 31.45 in late trade.

The worst performers of the session were Saudi Industrial Services Co. (SE:2190), which fell 6.08% or 0.74 points to trade at 11.44 at the close. Middle East Paper Co (SE:1202) declined 5.27% or 1.04 points to end at 18.70 and BURUJ COOPERATIVE INSURANCE CO (SE:8270) was down 5.25% or 1.04 points to 18.78.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 151 to 33 and 1 ended unchanged.

Shares in Saudi Industrial Export Co (SE:4140) rose to 52-week highs; gaining 9.88% or 9.10 to 101.20. Shares in BURUJ COOPERATIVE INSURANCE CO (SE:8270) fell to 52-week lows; falling 5.25% or 1.04 to 18.78.

Crude oil for December delivery was unchanged 0.00% or 0.00 to $69.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.90% or 0.71 to hit $80.00 a barrel, while the December Gold Futures contract fell 0.01% or 0.10 to trade at $1230.00 a troy ounce.

EUR/SAR was up 0.55% to 4.3206, while USD/SAR unchanged 0.00% to 3.7513.

The US Dollar Index Futures was down 0.36% at 95.38.

Crude Oil Prices - Weekly Outlook: October 22 - 26

Investing.com - Market players are likely to stay focused on global supplies in the week ahead, after oil prices suffered their second consecutive weekly loss, driven lower by indications of swelling U.S. crude stockpiles.

U.S. oil inventories climbed 6.5 million barrels last week, almost triple the amount analysts had forecast, the U.S. Energy Information Administration said on Wednesday.

It was the fourth straight weekly climb that has seen domestic supplies swell by a total of 22 million barrels over that period.

Meanwhile, the U.S. oil drilling rig count, an early indicator of future output, rose by four to 873 this week, the highest since March 2015, General Electric (NYSE:GE)'s Baker Hughes energy services firm said on Friday.

Additionally, oil traders will also keep a watchful eye on simmering geopolitical tensions between OPEC kingpin Saudi Arabia and the U.S. over the suspected death of Jamal Khashoggi, a prominent Saudi journalist, who disappeared after entering the Saudi consulate in Istanbul, Turkey on Oct. 2.

President Donald Trump on Thursday acknowledged for the first time that Khashoggi is likely dead and said there would be “very severe” consequences if it was determined that Saudi rulers were behind it, without specifying what they might entail.

Investors suspect the latest development could undermine the leadership of Crown Prince Mohammed bin Salman and has the risk of eventually destabilizing the oil-rich kingdom.

Oil prices ended slightly higher on Friday, but remained at an inflection point after a rough week.

December West Texas Intermediate crude, the U.S. benchmark, rose 57 cents, or roughly 0.8%, on Friday to settle at $69.28 a barrel by close of trade on the New York Mercantile Exchange.

Despite Friday's gain, it suffered a weekly loss about 3.1%.

Meanwhile, the global benchmark, Brent crude for December delivery on the ICE Futures Europe exchange, added 49 cents, or around 0.6%, to end at $79.78 a barrel.

It posted a weekly decline of 0.8%.

Not helping the mood were indications that global trade disputes, most notably between the U.S. and China, were curbing economic activity, and, by extension, eroding energy demand.

Continued weakness in global equities was also a weight on crude earlier in the week.

Ahead of the coming week, Investing.com has compiled a list of the main events likely to affect the oil market.

Tuesday, October 23

The American Petroleum Institute is to publish its weekly update on U.S. oil supplies.

Wednesday, October 24

The U.S. Energy Information Administration will release its weekly report on oil stockpiles.

Friday, October 26

Baker Hughes will release weekly data on the U.S. oil rig count.

Weekly Outlook: October 22 - 26

Investing.com - This week investors will be looking ahead to Friday’s data on U.S. third quarter growth, while monetary policy decisions from the European Central Bank and Bank of Canada will also be in focus.

The GDP data is expected to show that U.S. economic growth slowed in the third quarter from the second, when the economy grew at its fastest pace in four years.

Investors will also be getting an update on the health of the U.S. housing market, which has been hit by rising borrowing costs as a result of Fed rate hikes, with the release of figures on new and pending home sales.

Data on Friday showed that sales of existing homes fell for a sixth straight month in September, in what was the largest decline in more than two years.

The BoC is widely expected to raise rates by a quarter point at its meeting on Wednesday and release updated economic forecasts.

The ECB is expected to keep interest rates on hold at its meeting on Thursday, ahead of the expected end of its monetary stimulus program in December.

The U.S. dollar slid against a currency basket on Friday, but stayed within sight of recent seven week highs, with the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, down 0.36% to 95.38 in late trade.

The euro gained ground, with EUR/USD rising 0.52% to 1.1513, rebounding from an earlier one-and-a-half week low of 1.1433.

Sterling was also higher against the greenback, with GBP/USD changing hands at 1.3080 in late trade, up 0.48%.

The euro and the pound were boosted after Bloomberg reported that British Prime Minister Theresa May is prepared to drop a key demand on the Irish border, which has hindered the European Union and the UK from reaching an agreement on Brexit.

The dollar was higher against the yen, with USD/JPY up 0.31% to 112.54.

Meanwhile, the Canadian dollar fell to its lowest level in five weeks on Friday, with USD/CAD hitting 1.3133 before pulling back to 1.3104 after data showing that Canadian retail sales and inflation were weaker than expected last month.

The disappointing data was seen as unlikely to sway the BoC from raising rates this week, but it may take a less hawkish view of the economy.

Ahead of the coming week, Investing.com has compiled a list of significant events likely to affect the markets.

Monday, October 22

Canada is to release data on wholesale sales.

Tuesday, October 23

Bank of England Governor Mark Carney is to speak at an event in Toronto.

Wednesday, October 24

The euro zone is to release data on private sector activity.

The Bank of Canada is to announce its benchmark interest rate and publish a rate statement, which outlines economic conditions and the factors affecting the monetary policy decision.

The U.S. is to report on new home sales.

Thursday, October 25

New Zealand is to release data on trade.

The Ifo Institute is to report on German business climate.

The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.

The U.S. is to release reports on durable goods orders, initial jobless claims and pending home sales.

Friday, October 26

The U.S. is to release preliminary data on U.S. third quarter growth as well as a report on consumer sentiment.

ECB President Mario Draghi is to speak at an event in Brussels.

Canada stocks higher at close of trade; S&P/TSX Composite up 0.22%

Investing.com – Canada stocks were higher after the close on Friday, as gains in the Consumer Staples, Real Estate and REITs sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.22%.

The best performers of the session on the S&P/TSX Composite were Baytex Energy Corp (TO:BTE), which rose 6.03% or 0.17 points to trade at 2.99 at the close. Meanwhile, West Fraser Timber Co. Ltd . (TO:WFT) added 4.91% or 3.13 points to end at 66.85 and Detour Gold Corporation (TO:DGC) was up 3.89% or 0.42 points to 11.22 in late trade.

The worst performers of the session were BRP Inc (TO:DOO), which fell 6.46% or 3.76 points to trade at 54.48 at the close. Aphria Inc (TO:APH) declined 5.91% or 1.150 points to end at 18.300 and Shopify Inc (TO:SHOP) was down 5.68% or 10.000 points to 166.070.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 590 to 521 and 119 ended unchanged.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 1.58% to 16.83.

Gold Futures for December delivery was down 0.03% or 0.40 to $1229.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.98% or 0.67 to hit $69.32 a barrel, while the December Brent oil contract rose 0.86% or 0.68 to trade at $79.97 a barrel.

CAD/USD was down 0.12% to 0.7629, while CAD/EUR fell 0.69% to 0.6626.

The US Dollar Index Futures was down 0.32% at 95.41.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.26%

Investing.com – U.S. stocks were mixed after the close on Friday, as gains in the Utilities, Consumer Goods and Telecoms sectors led shares higher while losses in the Healthcare, Oil&Gas and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average rose 0.26%, while the S&P 500 index declined 0.04%, and the NASDAQ Composite index lost 0.48%.

The best performers of the session on the Dow Jones Industrial Average were Procter&Gamble Company (NYSE:PG), which rose 8.80% or 7.06 points to trade at 87.30 at the close. Meanwhile, American Express Company (NYSE:AXP) added 3.78% or 3.89 points to end at 106.73 and Walt Disney Company (NYSE:DIS) was up 2.34% or 2.72 points to 118.90 in late trade.

The worst performers of the session were Caterpillar Inc (NYSE:CAT), which fell 2.68% or 3.62 points to trade at 131.32 at the close. Intel Corporation (NASDAQ:INTC) declined 2.16% or 0.97 points to end at 44.00 and DowDuPont Inc (NYSE:DWDP) was down 1.86% or 1.09 points to 57.49.

The top performers on the S&P 500 were Interpublic Group of Companies Inc (NYSE:IPG) which rose 9.65% to 24.65, PayPal Holdings Inc (NASDAQ:PYPL) which was up 9.42% to settle at 84.78 and Procter&Gamble Company (NYSE:PG) which gained 8.80% to close at 87.30.

The worst performers were Advanced Micro Devices Inc (NASDAQ:AMD) which was down 11.12% to 23.660 in late trade, VF Corporation (NYSE:VFC) which lost 10.71% to settle at 77.76 and Valero Energy Corporation (NYSE:VLO) which was down 10.28% to 92.76 at the close.

The top performers on the NASDAQ Composite were The9 Ltd ADR (NASDAQ:NCTY) which rose 64.56% to 2.600, Future Fintech Group Inc (NASDAQ:FTFT) which was up 35.64% to settle at 1.6277 and Ability Inc (NASDAQ:ABIL) which gained 29.53% to close at 4.02.

The worst performers were Yulong Eco-Materials Ltd (NASDAQ:YECO) which was down 47.23% to 6.200 in late trade, ServiceSource International Inc (NASDAQ:SREV) which lost 46.17% to settle at 1.405 and China Advanced Construction Materials (NASDAQ:CADC) which was down 31.25% to 2.750 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1582 to 1470 and 104 ended unchanged; on the Nasdaq Stock Exchange, 1874 fell and 761 advanced, while 80 ended unchanged.

Shares in Caterpillar Inc (NYSE:CAT) fell to 52-week lows; down 2.68% or 3.62 to 131.32. Shares in Walt Disney Company (NYSE:DIS) rose to 52-week highs; rising 2.34% or 2.72 to 118.90. Shares in DowDuPont Inc (NYSE:DWDP) fell to 52-week lows; falling 1.86% or 1.09 to 57.49. Shares in ServiceSource International Inc (NASDAQ:SREV) fell to all time lows; down 46.17% or 1.205 to 1.405.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 0.85% to 19.89.

Gold Futures for December delivery was down 0.05% or 0.60 to $1229.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.96% or 0.66 to hit $69.31 a barrel, while the December Brent oil contract rose 0.83% or 0.66 to trade at $79.95 a barrel.

EUR/USD was up 0.52% to 1.1513, while USD/JPY rose 0.27% to 112.50.

The US Dollar Index Futures was down 0.31% at 95.42.

Colombia stocks lower at close of trade; COLCAP down 0.61%

Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Public Services, Investment and Financials sectors led shares lower.

At the close in Colombia, the COLCAP declined 0.61% to hit a new 6-months low.

The best performers of the session on the COLCAP were Cemex Latam Holdings SA (CN:CLH), which rose 0.77% or 40.0 points to trade at 5240.0 at the close. Meanwhile, Pfgrupsura (CN:SIS_p) added 0.68% or 220.0 points to end at 32400.0 and Bcolombia (CN:BIC) was up 0.53% or 160.0 points to 30260.0 in late trade.

The worst performers of the session were Promigas (CN:PMG), which fell 9.56% or 610.0 points to trade at 5770.0 at the close. Cementos Argos Pf (CN:CCB_p) declined 4.71% or 300.0 points to end at 6070.0 and Etb (CN:ETB) was down 4.44% or 13.0 points to 280.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 21 to 4 and 3 ended unchanged.

Shares in Promigas (CN:PMG) fell to 52-week lows; down 9.56% or 610.0 to 5770.0. Shares in Cementos Argos Pf (CN:CCB_p) fell to all time lows; down 4.71% or 300.0 to 6070.0. Shares in Etb (CN:ETB) fell to all time lows; down 4.44% or 13.0 to 280.0.

US coffee C for December delivery was down 0.16% or 0.20 to $121.85 . Elsewhere in commodities trading, US cocoa for delivery in December rose 0.86% or 18.50 to hit $2160.50 , while the December Gold Futures contract fell 0.03% or 0.40 to trade at $1229.70 a troy ounce.

USD/COP was down 0.47% to 3078.25, while BRL/COP fell 0.25% to 828.58.

The US Dollar Index Futures was down 0.29% at 95.44.

Oil Up on Day, but U.S. Crude Loses 3% After Rough Week

Investing.com - Oil prices rose on Friday, but remained at an inflection point after a rough week.

Reports of record Chinese demand for crude and of producers’ struggling to boost output suggest prices should be higher. But surging stockpiles and a rise in drilling activity in the U.S. indicate the path of least resistance is lower.

The conflicting themes were on display as Brent, the global benchmark for oil, posted a drop of nearly 1% on the week, while WTI had a weekly loss of 3%.

Some think WTI will return to its recent perch above $70 per barrel and dismiss this week’s tumble as aberration, or simply profit-taking, ahead of the expiry of its front-month November contract on Monday.

“Despite the weakness into contract expiration, nothing has changed,” said Phil Flynn, an analyst at Chicago’s Price Futures Group, who’s typically bullish on oil.

He referred to an earlier 3% selloff in WTI on Aug. 15, which he said was ahead of contract expiration as well.

“That was just a correction," he said. "So is this down move.”

Others, such as Phil Davis at PSW Investments in New York, believe WTI should trade at $65 or below in coming weeks and that Brent might slip another $5 or so to hover around $75.

“Logically, oil is overpriced with the kind of builds we’ve seen in U.S. crude lately and the growing notion that the Iran sanctions might not hit as hard as thought. The only problem is finding the right entry point to short WTI and Brent,” Davis said.

WTI settled up 47 cents, or 0.7%, at $69.13 per barrel. The U.S. crude benchmark gave back much of its early gains on data showing the U.S. rig count had risen to March 2015 highs after drillers added four rigs this week.

Brent settled up 49 cents, or 0.6%, at $79.78.

In Friday's trading, oil was supported by government data showing refinery throughput in China, the world's largest oil importer, rising to a record high of 12.49 million barrels per day in September as some independent plants restarted operations after prolonged shutdowns over the summer to shore up inventories.

OPEC, meanwhile, was struggling to add barrels to the market after agreeing in June to increase output, according to an internal document seen by Reuters.

Those positive points were offset somewhat by bearish data such as the U.S. crude build of 23 million barrels over the past month, that came in nearly five times above forecasts.

Netflix Falls 3% as Wall Street Divided on Future Growth

Investing.com - Netflix fell on Friday, continuing to pare gains as its blowout earnings report earlier this week was overshadowed by valuation concerns amid a downbeat report from Keybanc.

KeyBanc Capital Markets' Andy Hargreaves downgraded Netflix from overweight to sector weight earlier this week, citing concerns over limited investment efficiency, margin expansion and ancillary opportunities over the next year. The bank's bearish assessment of Netflix arrived after the streaming giant added 7 million new streaming subscribers in the third quarter, a third more than Wall Street had expected.

Still, others on Wall Street continued to contend further growth lies ahead for Netflix.

"While bears will point to lower fourth-quarter margin guidance, we believe Netflix continues to build a bigger moat as the majority of content spend is through its internal studio, which protects the company from media consolidation and forthcoming OTT services," Oppenheimer analyst Jason Helfstein said in a note earlier this week.

Oppenheimer has raised its price target on Netflix to $410 from $370.

(NASDAQ:NFLX) fell by 3.36% to trade at $335.06 by 14:07 (18:07 GMT) on Friday on the NASDAQ exchange.

The volume of Netflix shares traded since the start of the session was 10.37 million. Netflix has traded in a range of $334.57 to $355.80 on the day.

The stock has traded at $380.0000 at its highest and $315.8100 at its lowest during the past seven days.

MarketPulse: Utilities in Demand as Sentiment Turns Defensive

Investing.com – Utilities were in favor Friday as skittish investors turned defensive even as the broader market rebounded from a selloff the day earlier.

Investors seemingly shrugged of the risk that raising government bond yield pose to bond proxies and piled into the utilities, a defensive corner of the market as it provides a constant dividends and stable earnings irrespective of the state of the overall stock market.

American Electric Power (NYSE:AEP) rose 2% ahead of its earnings next week, which is expected to reveal a year-over-year increase in profit on higher revenues.

Pinnacle West Capital (NYSE:PNW) rose 2% a day after the company said it would raise its quarterly dividend by 6.1%, or 17 cents a share annually.

Dominion Resources (NYSE:D) rose 2%, adding to gains for month, which had followed an upbeat reports from JPMorgan (NYSE:JPM) in early October on expectations for a "modest upside" from company's tie-up with Scana Corporation (NYSE:SCG).

"We see modest upside earnings potential from the Scana Corporation deal, any Blue Racer sale or successful conclusion of the CT clean energy procurement next year," JPMorgan said.

The S&P 500 utilities rose 1.60%.

Portugal stocks lower at close of trade; PSI 20 unchanged

Investing.com – Portugal stocks were lower after the close on Friday, as in the sectors led shares .

At the close in Lisbon, the PSI 20 unchanged 0.00%.

The best performers of the session on the PSI 20 were Altri SGPS (LS:ALSS), which rose 1.51% or 0.1100 points to trade at 7.4000 at the close. Meanwhile, EDP (LS:EDP) added 0.99% or 0.0310 points to end at 3.1690 and J. Martins SGPS (LS:JMT) was up 0.79% or 0.0900 points to 11.4500 in late trade.

The worst performers of the session were CTT Correios de Portugal SA (LS:CTT), which fell 3.61% or 0.1200 points to trade at 3.2000 at the close. The Navigator Company SA (LS:NVGR) declined 3.48% or 0.1480 points to end at 4.1020 and Corticeira Amorim (LS:CORA) was down 2.76% or 0.280 points to 9.880.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 19 to 12 and 6 ended unchanged.

Brent oil for December delivery was up 1.08% or 0.86 to $80.15 a barrel. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.99% or 0.68 to hit $69.33 a barrel, while the December Gold Futures contract rose 0.04% or 0.50 to trade at $1230.60 a troy ounce.

EUR/USD was up 0.53% to 1.1515, while EUR/GBP rose 0.33% to 0.8827.

The US Dollar Index Futures was down 0.30% at 95.43.

Spain stocks higher at close of trade; IBEX 35 up 0.03%

Investing.com – Spain stocks were higher after the close on Friday, as gains in the Telecoms&IT, Chemical, Petroleum&Plastic and Financial Services&Real Estate sectors led shares higher.

At the close in Madrid, the IBEX 35 added 0.03%.

The best performers of the session on the IBEX 35 were Viscofan (MC:VIS), which rose 2.48% or 1.500 points to trade at 62.100 at the close. Meanwhile, Red Electrica Corporacion SA (MC:REE) added 1.67% or 0.300 points to end at 18.270 and Iberdrola (MC:IBE) was up 1.65% or 0.102 points to 6.278 in late trade.

The worst performers of the session were ArcelorMittal SA (MC:MTS), which fell 3.93% or 0.970 points to trade at 23.740 at the close. International Consolidated Airlines Group SA (MC:ICAG) declined 3.57% or 0.234 points to end at 6.312 and Acerinox (MC:ACX) was down 2.90% or 0.340 points to 11.380.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 87 to 79 and 22 ended unchanged.

Shares in International Consolidated Airlines Group SA (MC:ICAG) fell to 52-week lows; down 3.57% or 0.234 to 6.312.

Gold Futures for December delivery was down 0.01% or 0.10 to $1230.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.76% or 0.52 to hit $69.17 a barrel, while the December Brent oil contract rose 0.88% or 0.70 to trade at $79.99 a barrel.

EUR/USD was up 0.52% to 1.1513, while EUR/GBP rose 0.33% to 0.8827.

The US Dollar Index Futures was down 0.29% at 95.44.

Netherlands stocks higher at close of trade; AEX up 0.25%

Investing.com – Netherlands stocks were higher after the close on Friday, as gains in the Healthcare, Financials and Consumer Services sectors led shares higher.

At the close in Amsterdam, the AEX added 0.25%.

The best performers of the session on the AEX were Unilever NV DRC (AS:UNc), which rose 2.78% or 1.28 points to trade at 47.33 at the close. Meanwhile, Wolters Kluwer (AS:WLSNc) added 2.58% or 1.32 points to end at 52.40 and Galapagos NV (AS:GLPG) was up 2.27% or 2.080 points to 93.680 in late trade.

The worst performers of the session were ArcelorMittal SA (AS:MT), which fell 3.94% or 0.975 points to trade at 23.755 at the close. Philips Lighting NV (AS:LIGHT) declined 3.78% or 0.82 points to end at 20.89 and Randstad NV (AS:RAND) was down 3.51% or 1.56 points to 42.84.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 89 to 41 and 8 ended unchanged.

Shares in Randstad NV (AS:RAND) fell to 52-week lows; falling 3.51% or 1.56 to 42.84.

The AEX Volatility, which measures the implied volatility of AEX options, was unchanged 0.00% to 14.75.

Crude oil for November delivery was up 0.83% or 0.57 to $69.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.96% or 0.76 to hit $80.05 a barrel, while the December Gold Futures contract rose 0.02% or 0.20 to trade at $1230.30 a troy ounce.

EUR/USD was up 0.52% to 1.1514, while EUR/GBP rose 0.34% to 0.8828.

The US Dollar Index Futures was down 0.30% at 95.43.

Russia stocks lower at close of trade; MOEX Russia down 1.42%

Investing.com – Russia stocks were lower after the close on Friday, as losses in the Power, Mining and Oil&Gas sectors led shares lower.

At the close in Moscow, the MOEX Russia declined 1.42% to hit a new 1-month low.

The best performers of the session on the MOEX Russia were X5 Retail Group NV (MCX:FIVEDR), which rose 0.99% or 14.0 points to trade at 1434.5 at the close. Meanwhile, Gazprom PAO (MCX:GAZP) added 0.71% or 1.14 points to end at 161.32 and MegaFon OAO (MCX:MFON) was up 0.56% or 3.30 points to 593.00 in late trade.

The worst performers of the session were Yandex NV (MCX:YNDX), which fell 19.91% or 445.00 points to trade at 1790.00 at the close. NPK OVK PAO (MCX:UWGN) declined 7.43% or 33.6 points to end at 418.6 and Sberbank Rossii PAO (MCX:SBER) was down 3.77% or 7.20 points to 183.80.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 143 to 61 and 21 ended unchanged.

Shares in Yandex NV (MCX:YNDX) fell to 52-week lows; falling 19.91% or 445.00 to 1790.00. Shares in NPK OVK PAO (MCX:UWGN) fell to all time lows; falling 7.43% or 33.6 to 418.6.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 0.46% to 25.910.

Gold Futures for December delivery was up 0.05% or 0.60 to $1230.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.79% or 0.54 to hit $69.19 a barrel, while the December Brent oil contract rose 0.93% or 0.74 to trade at $80.03 a barrel.

USD/RUB was down 0.53% to 65.4550, while EUR/RUB rose 0.02% to 75.3858.

The US Dollar Index Futures was down 0.30% at 95.43.

Belgium stocks lower at close of trade; BEL 20 down 0.54%

Investing.com – Belgium stocks were lower after the close on Friday, as losses in the Real Estate, Pharma&Bio-technology and Media sectors led shares lower.

At the close in Brussels, the BEL 20 fell 0.54%.

The best performers of the session on the BEL 20 were Galapagos NV (AS:GLPG), which rose 2.27% or 2.080 points to trade at 93.680 at the close. Meanwhile, Proximus NV (BR:PROX) added 1.64% or 0.37 points to end at 22.96 and Engie SA (PA:ENGIE) was up 0.47% or 0.06 points to 11.73 in late trade.

The worst performers of the session were Aperam SA (AS:APAM), which fell 4.31% or 1.59 points to trade at 35.33 at the close. Solvay SA (BR:SOLB) declined 1.82% or 1.90 points to end at 102.55 and KBC (BR:KBC) was down 1.80% or 1.160 points to 63.200.

Falling stocks outnumbered advancing ones on the Brussels Stock Exchange by 75 to 32 and 21 ended unchanged.

Shares in Aperam SA (AS:APAM) fell to 52-week lows; falling 4.31% or 1.59 to 35.33. Shares in Solvay SA (BR:SOLB) fell to 52-week lows; losing 1.82% or 1.90 to 102.55.

Gold Futures for December delivery was up 0.03% or 0.40 to $1230.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.99% or 0.68 to hit $69.33 a barrel, while the December Brent oil contract rose 1.05% or 0.83 to trade at $80.12 a barrel.

EUR/USD was up 0.53% to 1.1515, while EUR/GBP rose 0.36% to 0.8830.

The US Dollar Index Futures was down 0.30% at 95.43.

U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.34%

Investing.com – U.K. stocks were higher after the close on Friday, as gains in the Beverage, Food&Drug Retailers and Pharmaceuticals&Biotech sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 rose 0.34%.

The best performers of the session on the Investing.com United Kingdom 100 were Intu Properties PLC (LON:INTUP), which rose 12.55% or 22.30 points to trade at 200.00 at the close. Meanwhile, Reckitt Benckiser Group PLC (LON:RB) added 3.75% or 243.00 points to end at 6714.00 and Old Mutual Ltd (LON:OMU) was up 3.16% or 3.82 points to 124.68 in late trade.

The worst performers of the session were EasyJet PLC (LON:EZJ), which fell 6.32% or 72.00 points to trade at 1068.00 at the close. Barratt Developments PLC (LON:BDEV) declined 4.39% or 22.60 points to end at 491.60 and Taylor Wimpey PLC (LON:TW) was down 3.81% or 6.00 points to 151.40.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1286 to 756 and 319 ended unchanged.

Shares in EasyJet PLC (LON:EZJ) fell to 52-week lows; down 6.32% or 72.00 to 1068.00. Shares in Taylor Wimpey PLC (LON:TW) fell to 52-week lows; losing 3.81% or 6.00 to 151.40.

Gold Futures for December delivery was down 0.02% or 0.20 to $1229.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 1.05% or 0.72 to hit $69.37 a barrel, while the December Brent oil contract rose 1.15% or 0.91 to trade at $80.20 a barrel.

GBP/USD was up 0.18% to 1.3042, while EUR/GBP rose 0.38% to 0.8831.

The US Dollar Index Futures was down 0.31% at 95.42.

Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.79%

Investing.com – Sweden stocks were lower after the close on Friday, as losses in the Industrials, Telecoms and Consumer Goods sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 lost 0.79% to hit a new 3-months low.

The best performers of the session on the OMX Stockholm 30 were Getinge AB ser. B (ST:GETIb), which rose 4.79% or 3.9 points to trade at 85.7 at the close. Meanwhile, ASSA ABLOY AB ser. B (ST:ASSAb) added 3.09% or 5.2 points to end at 175.1 and Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) was up 2.73% or 2.26 points to 85.17 in late trade.

The worst performers of the session were Skanska AB ser. B (ST:SKAb), which fell 10.63% or 17.15 points to trade at 144.25 at the close. Atlas Copco AB Class A (ST:ATCOa) declined 7.41% or 17.1 points to end at 213.0 and Atlas Copco AB Series B (ST:ATCOb) was down 6.35% or 13.5 points to 198.6.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 443 to 198 and 42 ended unchanged.

Shares in Skanska AB ser. B (ST:SKAb) fell to 3-years lows; losing 10.63% or 17.15 to 144.25. Shares in Atlas Copco AB Class A (ST:ATCOa) fell to 52-week lows; losing 7.41% or 17.1 to 213.0. Shares in Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) rose to 52-week highs; rising 2.73% or 2.26 to 85.17. Shares in Atlas Copco AB Series B (ST:ATCOb) fell to 52-week lows; losing 6.35% or 13.5 to 198.6.

Crude oil for November delivery was up 1.19% or 0.82 to $69.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 1.32% or 1.05 to hit $80.34 a barrel, while the December Gold Futures contract fell 0.04% or 0.50 to trade at $1229.60 a troy ounce.

EUR/SEK was down 0.12% to 10.3454, while USD/SEK fell 0.64% to 8.9862.

The US Dollar Index Futures was down 0.29% at 95.44.

Greece stocks lower at close of trade; Athens General Composite unchanged

Investing.com – Greece stocks were lower after the close on Friday, as in the sectors led shares .

At the close in Athens, the Athens General Composite unchanged 0.00%.

The best performers of the session on the Athens General Composite were Titan Cement Company SA (AT:TTNr), which rose 2.89% or 0.560 points to trade at 19.950 at the close. Meanwhile, Public Power (AT:DEHr) added 0.83% or 0.01 points to end at 1.22 and Greek Organisation of Football Prognostics SA (AT:OPAr) was up 0.47% or 0.040 points to 8.580 in late trade.

The worst performers of the session were Motor Oil Hellas Corinth Refineries SA (AT:MORr), which fell 3.09% or 0.68 points to trade at 21.30 at the close. National Bank of Greece SA (AT:NBGr) declined 3.01% or 0.044 points to end at 1.419 and Alpha Bank SA (AT:ACBr) was down 2.18% or 0.025 points to 1.120.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 10 to 4.

Shares in National Bank of Greece SA (AT:NBGr) fell to 52-week lows; falling 3.01% or 0.044 to 1.419. Shares in Alpha Bank SA (AT:ACBr) fell to 3-years lows; falling 2.18% or 0.025 to 1.120.

Gold Futures for December delivery was down 0.04% or 0.50 to $1229.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 1.41% or 0.97 to hit $69.62 a barrel, while the December Brent oil contract rose 1.49% or 1.18 to trade at $80.47 a barrel.

EUR/USD was up 0.38% to 1.1498, while EUR/GBP rose 0.20% to 0.8816.

The US Dollar Index Futures was down 0.22% at 95.51.

Oil Prices Rise Ahead of Rig Count, WTI Set for Weekly Drop on Supply Concerns

Investing.com - Oil prices bounced higher on Friday after two sessions of sharp declines sparked by a large build in U.S. crude inventories, while investors looked ahead to the latest reading on U.S. drilling activity.

New York-traded West Texas Intermediate crude futures gained 99 cents, or 1.44%, at $69.64 a barrel by 10:16 AM ET (14:16 GMT), adding to losses of 2.82% a day earlier.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up $1.32, or 1.66%, to $80.61.

West Texas Intermediate oil was on track for weekly losses of 2.4%, while Brent managed to eke out gains of 0.2% since last Friday after Wednesday’s report from the EIA showed that U.S. crude stocks surged by 6.5 million barrels last week, the fourth-straight weekly build and almost triple what analysts had forecast.

Still, the potential political fallout after the disappearance of Saudi Arabian journalist Jamal Khashoggi and upcoming sanctions against Iran continued to loom over oil markets.

U.S. President Donald Trump vowed on Thursday to find out exactly what happened to Khashoggi, whom he said might be deceased. He warned of a “very severe” response to Saudi Arabia, which is under political pressure for its role in the disappearance. Both business and political leaders have been distancing themselves from the Kingdom.

Khashoggi disappeared after he entered the Saudi consulate on Oct. 2 to obtain marriage documents, sparking speculations over the kingdom’s involvement. Turkish media leaked an audio file that showed the journalist was tortured and murdered in the consulate.

U.S. sanctions on Iran, which will take effect on Nov. 4, have also been cause for concern. Analysts are also worried about whether Saudi Arabia and Russia will be able to compensate for the expected fall of Iranian exports of about 1 million barrels per day.

Later on Friday, investors will digest the Baker Hughes’ oil rig count data, a leading indicator of demand for oil products, in order to gauge U.S. drilling activity.

In other energy trading, gasoline futures rose 2.01% to $1.9295 a gallon by 10:19 AM ET (14:19 GMT), while heating oil advanced 1.22% to $2.3230 a gallon.

Lastly, natural gas futures traded up 1.34% to $3.241 per million British thermal units.

Stocks - Wall Street Rallies on Strong Earnings Results

Investing.com - The Dow rebounded on Friday as Procter & Gamble posted stronger-than-expected earnings results, ending a week of volatile trading on Wall Street.

The S&P 500 rose 13 points, or 0.47%, to 2,781.88 as of 9:38 AM ET (13:38 GMT), while the Dow increased 102 points, or 0.41%, to 25,482.37 and the tech-heavy Nasdaq Composite was up 53 points, or 0.72%, to 7,538.93.

P&G (NYSE:PG) was up 6.24% after the consumer goods giant reported diluted earnings per share of $1.22.

PayPal (NASDAQ:PYPL) was among other gainers, surging 9.08% after its earnings beat estimates, while Tesla (NASDAQ:TSLA) increased 1.69% after CEO Elon Musk introduced a lower-cost Model 3 car. Other technology stocks were also higher, with Amazon (NASDAQ:AMZN) increasing 1.04% and Apple (NASDAQ:AAPL) gaining 1.52%.

Meanwhile, Honeywell (NYSE:HON) slumped 1.30% despite beating estimates and reporting an increase in e-commerce drove sales of warehouse machinery.

EBay (NASDAQ:EBAY) was down 8.53% after news it is suing Amazon.com for allegedly poaching its top seller, while General Electric (NYSE:GE) inched down 0.08%.

In commodities, gold futures decreased 0.03% to $1,229.70 a troy ounce, while crude oil futures rose 1.03% to $69.36 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, decreased 0.06% to 95.66.

I CFD sono strumenti complessi e comportano l’elevato rischio di subire perdite di denaro rapidamente per via della leva finanziaria. L’87% dei conti degli investitori al dettaglio subiscono perdite di denaro quando negoziano CFD tramite questo fornitore. Si dovrebbe considerare se si è consapevoli di come i CFD funzionano e se ci si può permettere l’elevato rischio di subire perdite di denaro. Si prega di consultare l’intera dichiarazione dell’assunzione del Rischio.