Gold at 3-Month High; $1,250 Target Eyed

Investing.com - Gold hit 3-month highs on Monday, continuing its ascent into a third week and reasserting itself as the hedge of choice against a cocktail of geopolitical tensions, tumbling equity markets and global macro uncertainties.

Just two months back, both spot and futures of bullion were falling vs. the dollar almost each day as the U.S. dollar benefited from early signs of the Federal Reserve’s preference for a higher-for-longer interest rate plan.

But after the Fed’s third rate hike for 2018 in September and adoption of increasingly hawkish language, U.S. bond yields spiked on fears of a global economic slowdown, turning the dollar to gold’s advantage.

That trend resumed on Monday with December gold futures on the U.S. COMEX exchange settling up $8.30, or 0.7%, at $1,230.30 per ounce. The peak for the day was a July 15 high of $1,236.90.

The Dollar Index, a measure of the greenback against six major currencies, dipped after U.S. retail sales data for September missed economists’ expectations and the benchmark 10-Year U.S. Treasury note yield consolidated after last week’s seven-year highs. Rising tensions between Western powers and Saudi Arabia over the disappearance of Saudi journalist Jamal Khashoggi added to gold’s safe-haven edge.

“We have come to the fork in the road in the gold market. Helping bring us to this point overnight was the continued sell off of equities … and a weaker Dollar Index,” said Walter Pehowich, executive vice president at Dillon Gage Metals.

“There are a lot of factors right now that are fueling the rally in gold … significant geopolitical risks, higher interest rates and oil prices … but in my opinion the most significant factor is weaker equity markets,” he added.

Gold bugs are now calling for a resistance test of $1,250. Investing.com’s daily technical outlook itself has a strong buy on December gold, indicating its strongest selling point at the 200-Day Moving Average of $1,273.74 from the current level above the 100-day DMA of $1,223.45. Based on the outlook, gold could have an immediate upside of about $15 from current prices.

MarketPulse: Consumer Staples Rise as Investors Keep Playing Defense

Investing.com - Consumer staples were one of the leading sectors heading into the close of trading, limiting downside momentum on Wall Street.

The rout in markets last week continued to funnel investor appetite for defensive sectors of the market, boosting consumer staples, which includes makers of household needs like food, beverages and personal care products.

Walgreen's Boots Alliance (NASDAQ:WBA) rose 2% following its mixed fiscal fourth quarter results released last week. The company posted sales that missed expectations, while earnings came in ahead.

Walgreen's struck a partnership with Kroger last week and said that further tie-ups with other retailers were in pipeline in a bid to improve traffic.

Kroger (NYSE:KR) rose 2%, clawing back some of the losses from last week, which had followed a bearish report from Deutsche Bank arguing the retailer was in a “position of weakness,” and needed to speed up its push into e-commerce to compete with rivals Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT).

Campbell Soup (NYSE:CPB) rose 2.4% despite ongoing struggles to appeal to younger consumer base amid flagging sales. The company said in a regulatory filing Friday it will name the next chief executive officer by year-end.

The consumer staples sector was up 1.08% at the time of print, but remained down 7.2% year to date.

Dollar Struggles Amid Soft U.S. Retail Sales

Investing.com - The dollar was on the back foot Monday as soft U.S. retail sales data raised concerns over whether the strong pace of economic growth can continue.

The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.23% to 94.72.

The Commerce Department said on Monday that core retail sales fell 0.1% last month. That confounded economists’ forecast for a 0.4% rise. The retail sales control group, which has a larger impact on U.S. GDP, rose 0.5% beating expectations for a 0.3% rise.

"These data mean that third quarter consumers’ spending likely rose by 3.6%-to-3.8%, after a 3.8% leap in the second quarter. This uplift from the prior trend, about 2%-to-2.5%, likely is due to the tax cuts, so it won’t be sustained," Pantheon said. "We expect sub-3% consumption in fourth quarter."

A rebound in both the pound and euro from session also pressured the greenback even as investors digested negative news on stalled Brexit talks and ongoing friction between the EU and Italy.

U.K. Prime Minister Theresa May told Parliament Monday that while talks with the European Union had resulted in progress, the status of the Irish border has remained a critical stumbling block.

Profit-taking on dollar-denominated assets explains "why despite failing Brexit talks, persistent disagreements between EU and Italy and falling equity prices, the buck can't find a bid," said BK Asset management.

GBP/USD edged up 0.08% to $1.3166, while EUR/USD rose 0.27% to $1.1590.

USD/CAD fell 0.47% to C$1.2964 after the release of an upbeat Bank of Canada outlook survey.

USD/JPY fell 0.33% to Y111.83 as demand for safe-haven demand was propped up by mixed trading on Wall Street.

In emerging-market currencies, meanwhile, the Turkish lira rose against the dollar, hitting a two-month high, after Turkey on Friday released U.S. pastor Andrew Brunson.

USD/TRY fell 1.44% 5.778.

Russia stocks lower at close of trade; MOEX Russia down 0.58%

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

At the close in Moscow, the MOEX Russia declined 0.58%.

The best performers of the session on the MOEX Russia were AFK Sistema (MCX:AFKS), which rose 2.75% or 0.225 points to trade at 8.420 at the close. Meanwhile, Magnit (MCX:MGNT) added 2.01% or 70.0 points to end at 3560.0 and Polymetal International PLC (MCX:POLY) was up 1.82% or 10.50 points to 589.00 in late trade.

The worst performers of the session were NK RussNeft PAO (MCX:RNFT), which fell 3.90% or 23.2 points to trade at 572.0 at the close. Severstal - ao (MCX:CHMF) declined 2.55% or 27.00 points to end at 1030.00 and MMK (MCX:MAGN) was down 2.30% or 1.130 points to 47.935.

Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 101 to 100 and 19 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 1.57% to 27.510.

Gold Futures for December delivery was up 0.63% or 7.70 to $1229.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.15% or 0.11 to hit $71.45 a barrel, while the December Brent oil contract rose 0.01% or 0.01 to trade at $80.44 a barrel.

USD/RUB was down 0.69% to 65.6596, while EUR/RUB fell 0.43% to 76.0994.

The US Dollar Index Futures was down 0.26% at 94.69.

Netherlands stocks higher at close of trade; AEX up 0.40%

Investing.com – Netherlands stocks were higher after the close on Monday, as gains in the Telecoms, Consumer Services and Consumer Goods sectors led shares higher.

At the close in Amsterdam, the AEX rose 0.40%.

The best performers of the session on the AEX were Koninklijke KPN NV (AS:KPN), which rose 3.28% or 0.073 points to trade at 2.301 at the close. Meanwhile, Koninklijke Ahold Delhaize NV (AS:AD) added 2.55% or 0.488 points to end at 19.658 and Philips Lighting NV (AS:LIGHT) was up 1.64% or 0.34 points to 21.05 in late trade.

The worst performers of the session were Galapagos NV (AS:GLPG), which fell 1.33% or 1.140 points to trade at 84.740 at the close. Aalberts Industries NV (AS:AALB) declined 1.15% or 0.38 points to end at 32.53 and Aegon NV (AS:AEGN) was down 1.05% or 0.056 points to 5.264.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 65 to 53 and 20 ended unchanged.

Shares in Aalberts Industries NV (AS:AALB) fell to 52-week lows; falling 1.15% or 0.38 to 32.53.

The AEX Volatility, which measures the implied volatility of AEX options, was down 5.41% to 16.96.

Crude oil for November delivery was up 0.18% or 0.13 to $71.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.02% or 0.02 to hit $80.45 a barrel, while the December Gold Futures contract rose 0.65% or 8.00 to trade at $1230.00 a troy ounce.

EUR/USD was up 0.26% to 1.1589, while EUR/GBP rose 0.11% to 0.8802.

The US Dollar Index Futures was down 0.25% at 94.70.

Spain stocks higher at close of trade; IBEX 35 up 0.24%

Investing.com – Spain stocks were higher after the close on Monday, 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 rose 0.24%.

The best performers of the session on the IBEX 35 were Ferrovial (MC:FER), which rose 2.63% or 0.450 points to trade at 17.560 at the close. Meanwhile, Acciona (MC:ANA) added 1.51% or 1.080 points to end at 72.620 and Siemens Gamesa Renewable Energy SA (MC:SGREN) was up 1.43% or 0.134 points to 9.534 in late trade.

The worst performers of the session were Distribuidora Intl de Aliment (MC:DIDA), which fell 41.50% or 0.788 points to trade at 1.111 at the close. Melia Hotels (MC:MEL) declined 3.16% or 0.295 points to end at 9.040 and Tecnicas Reunidas (MC:TRE) was down 2.51% or 0.620 points to 24.080.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 106 to 56 and 23 ended unchanged.

Shares in Distribuidora Intl de Aliment (MC:DIDA) fell to all time lows; losing 41.50% or 0.788 to 1.111. Shares in Melia Hotels (MC:MEL) fell to 52-week lows; falling 3.16% or 0.295 to 9.040.

Gold Futures for December delivery was up 0.66% or 8.10 to $1230.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.18% or 0.13 to hit $71.47 a barrel, while the December Brent oil contract rose 0.05% or 0.04 to trade at $80.47 a barrel.

EUR/USD was up 0.25% to 1.1588, while EUR/GBP rose 0.13% to 0.8803.

The US Dollar Index Futures was down 0.25% at 94.70.

Germany stocks mixed at close of trade; DAX up 0.78%

Investing.com – Germany stocks were mixed after the close on Monday, as gains in the Telecoms, Pharmaceuticals&Healthcare and Consumer&Cyclical sectors led shares higher while losses in the Food&Beverages, Retail and Industrials sectors led shares lower.

At the close in Frankfurt, the DAX rose 0.78%, while the MDAX index fell 0.51%, and the TecDAX index climbed 0.13%.

The best performers of the session on the DAX were Volkswagen AG VZO O.N. (DE:VOWG_p), which rose 3.04% or 4.26 points to trade at 144.42 at the close. Meanwhile, Bayer AG NA (DE:BAYGN) added 2.59% or 1.97 points to end at 78.07 and Merck KGaA (DE:MRCG) was up 2.46% or 2.12 points to 88.38 in late trade.

The worst performers of the session were Deutsche Lufthansa AG (DE:LHAG), which fell 3.20% or 0.615 points to trade at 18.580 at the close. Continental AG O.N. (DE:CONG) declined 1.25% or 1.75 points to end at 138.40 and Thyssenkrupp AG O.N. (DE:TKAG) was down 0.57% or 0.115 points to 19.985.

The top performers on the MDAX were Osram Licht AG (DE:OSRn) which rose 4.80% to 32.11, Metro AG (DE:MEOG) which was up 3.12% to settle at 4.798 and Telefonica Deutschland Holding AG (DE:O2Dn) which gained 2.28% to close at 3.543.

The worst performers were MTU Aero Engines NA O.N. (DE:MTXGn) which was down 3.70% to 169.00 in late trade, Stroeer SE (DE:SAXG) which lost 3.07% to settle at 44.900 and Norma Group AG NA O.N. (DE:NOEJ) which was down 2.97% to 45.700 at the close.

The top performers on the TecDAX were Tele Columbus AG (DE:TC1n) which rose 3.54% to 3.36, Metro AG ST O.N. (DE:CECG) which was up 3.12% to settle at 4.798 and Heidelberger Druckmaschinen O.N. (DE:HDDG) which gained 2.69% to close at 2.1340.

The worst performers were Dr. Hoenle AG O.N. (DE:HNLG) which was down 3.94% to 63.400 in late trade, Draegerwerk VZO O.N. (DE:DRWG_p) which lost 3.54% to settle at 47.900 and Isra Vision O.N. (DE:ISRG) which was down 3.08% to 37.80 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 378 to 333 and 62 ended unchanged.

Shares in Deutsche Lufthansa AG (DE:LHAG) fell to 52-week lows; falling 3.20% or 0.615 to 18.580. Shares in Stroeer SE (DE:SAXG) fell to 52-week lows; falling 3.07% or 1.420 to 44.900. Shares in Norma Group AG NA O.N. (DE:NOEJ) fell to 52-week lows; down 2.97% or 1.400 to 45.700. Shares in Draegerwerk VZO O.N. (DE:DRWG_p) fell to 5-year lows; losing 3.54% or 1.760 to 47.900.

The DAX volatility index, which measures the implied volatility of DAX options, was down 4.09% to 19.95.

Gold Futures for December delivery was up 0.73% or 8.90 to $1230.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.03% or 0.02 to hit $71.36 a barrel, while the December Brent oil contract fell 0.12% or 0.10 to trade at $80.33 a barrel.

EUR/USD was up 0.28% to 1.1591, while EUR/GBP rose 0.16% to 0.8806.

The US Dollar Index Futures was down 0.27% at 94.68.

Turkey stocks higher at close of trade; BIST 100 up 2.04%

Investing.com – Turkey stocks were higher after the close on Monday, as gains in the Banking, Sports and Technology sectors led shares higher.

At the close in Istanbul, the BIST 100 gained 2.04%.

The best performers of the session on the BIST 100 were Vestel Elektronik Sanayi ve Ticaret AS (IS:VESTL), which rose 12.59% or 0.900 points to trade at 8.050 at the close. Meanwhile, Mavi Giyim Sanayi Ve Ticaret AS (IS:MAVI) added 8.19% or 2.86 points to end at 37.76 and Akenerji Elektrik Uretim AS (IS:AKENR) was up 6.67% or 0.040 points to 0.640 in late trade.

The worst performers of the session were Ford Otomotiv Sanayi AS (IS:FROTO), which fell 4.25% or 2.85 points to trade at 64.20 at the close. Tekfen Holding AS (IS:TKFEN) declined 3.56% or 0.82 points to end at 22.22 and Turkiye Sinai Kalkinma Bankasi AS (IS:TSKB) was down 2.41% or 0.020 points to 0.810.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 313 to 63 and 33 ended unchanged.

Gold Futures for December delivery was up 0.79% or 9.70 to $1231.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.17% or 0.12 to hit $71.22 a barrel, while the December Brent oil contract fell 0.30% or 0.24 to trade at $80.19 a barrel.

USD/TRY was down 1.32% to 5.7952, while EUR/TRY fell 1.12% to 6.7227.

The US Dollar Index Futures was down 0.27% at 94.68.

Cryptocurrencies Move Higher as Traders Exit Tether

Investing.com - Cryptocurrencies traded higher across the board on Monday, with the notable exception of Tether, following renewed concerns over possible issues at crypto exchange Bitfinex.

Bitcoin gained 8.26% to $6,889.20 at 10:40 AM ET (14:40 GMT) on the Bitfinex exchange.

Ethereum rose 7.50% to a trading price of $217.01 on the Bitfinex exchange.

XRP traded at $0.46294, up by 9.30% in the last 24 hours on the Poloniex exchange, while Bitcoin Cash, a product of the Bitcoin fork and the fourth-largest cryptocurrency by market capitalization, traded up 5.86% to $476.26 on the Bitfinex exchange.

Tether, however, was last off 4.79% at $0.92950 on the Kraken exchange.

The stablecoin -- currently the eighth largest cryptocurrency by market cap -- was reportedly hit by renewed speculation that Bitfinex, the crypto exchange that shares a chief executive officer with Tether’s issuer, was undergoing problems with its financial health and banking relationships.

Bitfinex responded last week to similar rumors, denying those allegations and insisting that the exchange was solvent.

Some observers suggested that Tether’s drop supported the rise in other cryptos as those traders are losing faith rotated their investment in digital currencies.

Netflix Falls 3%

Investing.com - Netflix (NASDAQ:NFLX) fell by 3.07% to trade at $329.13 by 09:55 (13:55 GMT) on Monday on the NASDAQ exchange.

The volume of Netflix shares traded since the start of the session was 2.01M. Netflix has traded in a range of $328.74 to $338.48 on the day.

The stock has traded at $363.5000 at its highest and $315.8100 at its lowest during the past seven days.

Stocks - Wall Street Remains Cautious as Saudi Tensions, Weak Retail Sales Weigh

Investing.com - Wall Street opened lower on Monday as concerns over geopolitical tensions related to Saudi Arabia and a weak reading on U.S. retail sales added to caution seen in the previous week.

At 9:34 AM ET (13:34G MT), the Dow Jones fell 50 points, or 0.2%, the S&P 500 lost 7 points, or 0.27%, while the Nasdaq Composite traded down 39 points, or 0.52%.

Even though U.S. stocks finished almost 300 points higher last Friday, they ended with weekly losses of around 4%, the largest decline since March, as worries about the impact of a U.S.-China trade war, a spike in U.S. bond yields and caution ahead of the earnings season all dampened sentiment.

Adding to market concerns, diplomatic tensions escalated over the weekend between Saudi Arabia and the West over the disappearance of journalist Jamal Khashoggi, who was a prominent critic of Riyadh's policies.

On the economic front, September retail sales also disappointed, with a small gain of just 0.1% , missing forecasts for a 0.7% rise.

On a positive note, the New York Fed’s Empire State manufacturing index showed stronger-than-expected factory activity in October.

In company news, Bank of America (NYSE:BAC) reported earnings that beat consensus.

Also in business headlines, Sears Holdings (NASDAQ:SHLD) filed for bankruptcy early Monday after years of staying afloat through financial maneuvering and announced that Eddie Lampert will be stepping down as CEO, effective immediately, although he remains its chairman.

Meanwhile, oil prices were higher to start the week, as geopolitical tensions over the disappearance of the Saudi journalist stoked supply worries.

Safe-haven assets also received a boost from risk-off sentiment with gold, the Japanese yen and Swiss franc all heading higher.

The Charles Schwab Earnings beat, Revenue Inline In Q3

Investing.com - The Charles Schwab reported third quarter earnings that beat analyst's expectations on Monday and revenue that was inline with forecasts.

The firm reported earnings per share of $0.65 on revenue of $2.58B. Analysts polled by Investing.com anticipated EPS of $0.64 on revenue of $2.58B. That compared to EPS of $0.42 on revenue of $2.26B in the same period a year earlier The company had reported EPS of $0.6 on revenue of $2.49B in the previous quarter.

The Charles Schwab shares gained 0.67% to trade at $49.34 in intra-day trade following the report.

For the year, The Charles Schwab shares are down 4.29%, under-performing the S&P 500 which is up 3.1% year to date.

The Charles Schwab follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

For more earnings releases and updates

Stocks - U.S. Futures Drop as Saudi Tensions Add to Risk-Off Sentiment

Investing.com - U.S. futures pointed to a lower open on Monday as a combination of concerns over rising U.S. yields, trade conflict and rising geopolitical risks weighed on market sentiment.

The blue-chip Dow futures fell 87 points, or 0.34%, by 7:07 AM ET (11:07 GMT), the S&P 500 futures lost 12 points, or 0.42%, while the tech-heavy Nasdaq 100 futures traded down 53 points, or 0.73%.

Even though U.S. stocks finished almost 300 points higher on Friday, they ended with weekly losses of around 4% as worries about the impact of a U.S.-China trade war, a spike in U.S. bond yields and caution ahead of the earnings season all dampened sentiment.

Investors were also on edge as diplomatic tensions escalated between Saudi Arabia and the West over the disappearance of journalist Jamal Khashoggi, who was a prominent critic of Riyadh's policies.

In earnings news, Bank of America (NYSE:BAC) reported earnings that beat consensus.

Charles Schwab (NYSE:SCHW) was also slated to release quarterly results ahead of the opening bell.

In other company news, Sears Holdings filed for bankruptcy early Monday after years of staying afloat through financial maneuvering, and announced that Eddie Lampert will be stepping down as CEO, effective immediately, although he remains its chairman.

On the economic front, the focus will be on September retail sales with economists forecasting a 0.7% after a meager 0.1% gain seen in the previous month.

Also released at 8:30 AM ET (12:30 GMT), the New York Fed’s Empire State manufacturing reading for the month of October will be watched for any signs any impact tariffs are having on the sector.

Meanwhile, oil prices were higher to start the week, as geopolitical tensions over the disappearance of the Saudi journalist stoked supply worries.

Safe haven assets also received a boost from risk-off sentiment with gold futures gaining more than 1%, while the Japanese yen and Swiss franc were also higher.

Sri Lanka stocks lower at close of trade; CSE All-Share down 0.70%

Investing.com – Sri Lanka stocks were lower after the close on Monday, as losses in the Construction&Engineering, Power&Energy and Plantations sectors led shares lower.

At the close in Colombo, the CSE All-Share lost 0.70% to hit a new 3-years low.

The best performers of the session on the CSE All-Share were Blue Diamonds Jewellery Worldwide PLC (CM:BLUE), which rose 20.00% or 0.100 points to trade at 0.600 at the close. Meanwhile, Asia Asset Finance Ltd (CM:ASAS) added 10.00% or 0.100 points to end at 1.100 and Fortress Resorts Plc (CM:RHTL) was up 9.30% or 0.80 points to 9.40 in late trade.

The worst performers of the session were Industrial Asphalts (Ceylon) PLC (CM:ASPH), which fell 11.76% or 40.00 points to trade at 300.00 at the close. Sunshine Holdings PLC (CM:SUN) declined 11.54% or 6.00 points to end at 46.00 and Palm Garden Hotels PLC (CM:PALM) was down 11.25% or 2.70 points to 21.30.

Falling stocks outnumbered advancing ones on the Colombo Stock Exchange by 107 to 59 and 50 ended unchanged.

Shares in Sunshine Holdings PLC (CM:SUN) fell to 52-week lows; falling 11.54% or 6.00 to 46.00.

Crude oil for November delivery was up 0.56% or 0.40 to $71.74 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.96% or 0.77 to hit $81.20 a barrel, while the December Gold Futures contract rose 1.02% or 12.50 to trade at $1234.50 a troy ounce.

GBP/LKR was up 0.38% to 224.115, while USD/LKR rose 0.41% to 170.440.

The US Dollar Index Futures was down 0.27% at 94.68.

Philippines stocks lower at close of trade; PSEi Composite down 1.12%

Investing.com – Philippines stocks were lower after the close on Monday, as losses in the Industrials, Services and Holding Firms sectors led shares lower.

At the close in Philippines, the PSEi Composite fell 1.12%.

The best performers of the session on the PSEi Composite were JG Summit Holdings Inc (PS:JGS), which rose 3.19% or 1.450 points to trade at 46.950 at the close. Meanwhile, Megaworld Corp (PS:MEG) added 1.69% or 0.070 points to end at 4.200 and Security Bank Corp (PS:SECB) was up 1.56% or 2.20 points to 143.10 in late trade.

The worst performers of the session were Jollibee Foods Corp (PS:JFC), which fell 4.58% or 12.00 points to trade at 250.00 at the close. Globe Telecom Inc (PS:GLO) declined 4.29% or 90.00 points to end at 2010.00 and Robinsons Retail Holdings Inc (PS:RRHI) was down 3.75% or 3.000 points to 77.000.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 106 to 84 and 40 ended unchanged.

Gold Futures for December delivery was up 0.86% or 10.50 to $1232.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.42% or 0.30 to hit $71.64 a barrel, while the December Brent oil contract rose 0.67% or 0.54 to trade at $80.97 a barrel.

CNY/PHP was down 0.18% to 7.8124, while USD/PHP fell 0.11% to 54.115.

The US Dollar Index Futures was down 0.03% at 94.91.

Cardano Climbs 12% As Investors Gain Confidence

Investing.com - Cardano was trading at $0.08411 by 02:49 (06:49 GMT) on the Investing.com Index on Monday, up 12.21% on the day. It was the largest one-day percentage gain since October 15.

The move upwards pushed Cardano's market cap up to $2.00370B, or 0.93% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.

Cardano had traded in a range of $0.07012 to $0.08418 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a drop in value, as it lost 8.12%. The volume of Cardano traded in the twenty-four hours to time of writing was $45.96175M or 0.33% of the total volume of all cryptocurrencies. It has traded in a range of $0.0693 to $0.0879 in the past 7 days.

At its current price, Cardano is still down 93.77% from its all-time high of $1.35 set on January 4.

Elsewhere in cryptocurrency trading

Bitcoin was last at $7,286.6 on the Investing.com Index, up 12.34% on the day.

Ethereum was trading at $234.15 on the Investing.com Index, a gain of 11.69%.

Bitcoin's market cap was last at $116.77283B or 54.05% of the total cryptocurrency market cap, while Ethereum's market cap totaled $22.37029B or 10.35% of the total cryptocurrency market value.

EOS Climbs 11% In Rally

Investing.com - EOS was trading at $5.9654 by 02:48 (06:48 GMT) on the Investing.com Index on Monday, up 11.12% on the day. It was the largest one-day percentage gain since October 15.

The move upwards pushed EOS's market cap up to $5.0886B, or 2.36% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B.

EOS had traded in a range of $5.1634 to $5.9654 in the previous twenty-four hours.

Over the past seven days, EOS has seen a drop in value, as it lost 2.38%. The volume of EOS traded in the twenty-four hours to time of writing was $590.6692M or 4.30% of the total volume of all cryptocurrencies. It has traded in a range of $5.0224 to $5.9690 in the past 7 days.

At its current price, EOS is still down 74.04% from its all-time high of $22.98 set on April 29.

Elsewhere in cryptocurrency trading

Bitcoin was last at $7,266.5 on the Investing.com Index, up 12.34% on the day.

Ethereum was trading at $232.57 on the Investing.com Index, a gain of 11.69%.

Bitcoin's market cap was last at $116.7728B or 54.05% of the total cryptocurrency market cap, while Ethereum's market cap totaled $22.3703B or 10.35% of the total cryptocurrency market value.

Taiwan stocks lower at close of trade; Taiwan Weighted down 1.44%

Investing.com – Taiwan stocks were lower after the close on Monday, as losses in the , Glass and Oil, Gas&Electricity sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted lost 1.44%.

The best performers of the session on the Taiwan Weighted were Chuwa Wool Industry Co Taiwan Ltd (TW:1439), which rose 10.00% or 3.10 points to trade at 34.10 at the close. Meanwhile, Sun Race Sturmey-Archer Inc (TW:1526) added 10.00% or 1.85 points to end at 20.35 and Hiyes International Co Ltd (TW:2348) was up 9.99% or 4.40 points to 48.45 in late trade.

The worst performers of the session were Headway Advanced Materials Inc (TW:1776), which fell 9.17% or 1.55 points to trade at 15.35 at the close. Chilisin Electronics Corp (TW:2456) declined 7.29% or 7.80 points to end at 99.20 and ADLINK Technology Inc (TW:6166) was down 7.26% or 3.05 points to 38.95.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 502 to 341 and 68 ended unchanged.

Shares in Headway Advanced Materials Inc (TW:1776) fell to 3-years lows; falling 9.17% or 1.55 to 15.35. Shares in Chilisin Electronics Corp (TW:2456) fell to 52-week lows; falling 7.29% or 7.80 to 99.20. Shares in ADLINK Technology Inc (TW:6166) fell to 5-year lows; falling 7.26% or 3.05 to 38.95.

Crude oil for November delivery was up 0.90% or 0.64 to $71.98 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 1.23% or 0.99 to hit $81.42 a barrel, while the December Gold Futures contract rose 0.43% or 5.30 to trade at $1227.30 a troy ounce.

USD/TWD was down 0.00% to 30.905, while TWD/CNY fell 0.04% to 0.2239.

The US Dollar Index Futures was up 0.03% at 94.97.

Ethereum Climbs 11% In Rally

Investing.com - Ethereum was trading at $230.99 by 02:06 (06:06 GMT) on the Investing.com Index on Monday, up 10.61% on the day. It was the largest one-day percentage gain since October 15.

The move upwards pushed Ethereum's market cap up to $21.95B, or 10.57% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B.

Ethereum had traded in a range of $195.40 to $233.39 in the previous twenty-four hours.

Over the past seven days, Ethereum has seen a drop in value, as it lost 5.07%. The volume of Ethereum traded in the twenty-four hours to time of writing was $1.57B or 13.84% of the total volume of all cryptocurrencies. It has traded in a range of $188.6521 to $233.3862 in the past 7 days.

At its current price, Ethereum is still down 83.77% from its all-time high of $1,423.20 set on January 13.

Elsewhere in cryptocurrency trading

Bitcoin was last at $6,943.6 on the Investing.com Index, up 8.29% on the day.

XRP was trading at $0.47535 on the Investing.com Index, a gain of 10.50%.

Bitcoin's market cap was last at $112.42B or 54.16% of the total cryptocurrency market cap, while XRP's market cap totaled $17.43B or 8.40% of the total cryptocurrency market value.

Asian Equities Trade Lower as Financial Leaders Warn on Impact of Trade Disputes

Investing.com - Asian equities traded mostly lower in afternoon trade on Monday as financial leaders warned trade disputes between U.S. and its trade partners were hurting the global economic outlook.

In the annual International Monetary Fund (IMF) meeting that concluded in Bali over the weekend, Brazil’s central bank President Ilan Goldfajn and Bank for International Settlements General Manager Agustin Carstens pinpointed global trade tensions as one of the biggest threats to emerging economies.

Meanwhile, People’s Bank of China Governor Yi Gang said he wanted to have a constructive solution to the dispute, and that China is “preparing for the worst”.

In Asia, China’s Shanghai Composite and the SZSE Composite both traded 1.0% lower by 1:45AM ET (05:45 GMT). Hong Kong’s Hang Seng Index fell 1.5%.

China’s Ministry of Commerce said on Monday that the country will impose anti-dumping tariffs on imports of hydroiodic acid from the U.S. and Japan starting from Oct. 16.

The tariffs will will last for five years, the ministry said.

Separately, U.S. President Donald Trump said in an interview CBS that aired on Saturday that he was considering imposing more tariffs on China.

“I want them to negotiate a fair deal with us. I want them to open their markets like our markets are open,” said Trump.

Elsewhere, Japan’s Nikkei 225 was down 1.9% as Softbank Corp. (T:9984) slumped more than 5% earlier in the day over concerns of the company’s ties to Saudi Arabia, which was under pressure on fears of sanctions following the disappearance of Jamal Khashoggi, a prominent journalist and former Saudi government adviser who was a critic of the administration.

Down under, Australia’s ASX 200 dropped 0.9%.

Commonwealth Bank Of Australia (AX:CBA) announced that it is naming Alan Docherty as chief financial officer of the company after its previous CFO unexpectedly left the firm in May.

South Korea’s KOSPI dipped 1.5%.

Looking ahead, the Federal Open Market Committee will release minutes from its most recent policy meeting on Wednesday. Chinese inflation figures are due Tuesday while the third-quarter GDP, industrial production, retail sales are expected to take centre stage on Friday.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.99%

Investing.com – Australia stocks were lower after the close on Monday, as losses in the IT, Financials and Utilities sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.99% to hit a new 6-months low.

The best performers of the session on the S&P/ASX 200 were Speedcast International Ltd (AX:SDA), which rose 3.73% or 0.140 points to trade at 3.890 at the close. Meanwhile, Santos Ltd (AX:STO) added 2.90% or 0.200 points to end at 7.090 and Sims Metal Management Ltd (AX:SGM) was up 2.81% or 0.330 points to 12.080 in late trade.

The worst performers of the session were Afterpay Touch Group Ltd (AX:APT), which fell 6.64% or 0.980 points to trade at 13.770 at the close. Domain Holdings Australia Ltd (AX:DHG) declined 4.69% or 0.130 points to end at 2.640 and Rea Group Ltd (AX:REA) was down 4.17% or 3.150 points to 72.350.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 759 to 443 and 348 ended unchanged.

Shares in Domain Holdings Australia Ltd (AX:DHG) fell to all time lows; losing 4.69% or 0.130 to 2.640.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 0.77% to 20.213.

Gold Futures for December delivery was up 0.29% or 3.60 to $1225.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.81% or 0.58 to hit $71.92 a barrel, while the December Brent oil contract rose 1.06% or 0.85 to trade at $81.28 a barrel.

AUD/USD was down 0.10% to 0.7107, while AUD/JPY fell 0.31% to 79.56.

The US Dollar Index Futures was up 0.03% at 94.97.

Crypto Prices Fall; PBOC to Hire Cryptographers, Blockchain Engineers

Investing.com - Cryptocurrency prices fell on Monday, with Ethereum down more than 3%. Reports that China’s central bank is hiring cryptographers and blockchain engineers received some attention.

Bitcoin inched up 0.7% to $6,415.8 by 1:06 AM ET (05:06 GMT) on the Bitifinex exchange, while Ethereum tumbled 3.6% to $202.8.

XRP slid 1.0% to $0.42129 on the Poloniex exchange, while Litecoin also fell 0.3% to $54.2 on the Bitifinex exchange.

Citing the People’s Bank of China’s annual hiring list of 2019, South China Morning Post reported on Friday that the central bank is seeking talents to help launch a state-issued digital currency presumably.

The PBOC is looking for a total of four staffs specializing in cryptography, microelectronics, computer science, according to the descriptions.

In other news, Hong Kong’s Securities and Futures Commission (SFC) said it is considering putting more formal cryptocurrency regulations in place as most crypto-exchanges being operated in the city are currently largely unregulated.

“We have to carefully consider the regulatory approach for these platforms because they are new technology and may not qualify as securities,” said outgoing chairman Carlson Tong Ka-shing.

“They do not fit in the custodian, audit or valuation requirements, for instance, normally expected under the Securities and Futures Ordinance,” Tong added.

The outgoing chairman, who is due to hand over the SFC’s reins to Tim Lui Tim-leung on October 19, noted that a total ban on these platform is not the best approach.

“It will not work in today’s internet world when trading can cross national boundaries,” he said.

“Even if we were to ban them, transactions can still be easily conducted via platforms in overseas markets.”

Oil Prices Rise Amidst Jitters Over Saudi Arabia

Investing.com - Oil prices rose on Monday morning in Asia following tensions between the U.S. and Saudi Arabia on the sudden disappearance of a Washington Post columnist Jamal Khashoggi, with whom the Kingdom denied any involvement.

Crude Oil WTI Futures for November delivery gained 1.12% to $72.13 per barrel at 12:40 AM ET (04:40 GMT) on the New York Mercantile Exchange, while Brent Oil Futures for December delivery rose 1.22% to $81.41 a barrel on London’s Intercontinental Exchange.

Saudi Arabia is under intense pressure, as the missing Saudi journalist and royal critic Khashoggi went missing after he was last seen entering the Saudi consulate in Istanbul on Oct. 2 to obtain a document for tying the knot with his Turkish fiancée, according to CNN. As Saudi Arabia is one of the largest oil exporters in the world, this news has sparked market concerns on the oil market.

“The market has again expressed concerns over geopolitical tensions in the Middle East after U.S. and Saudi traded comments over the disappearance of the Saudi journalist, leading to a jump in prices,” Wang Xiao, head of crude research with Guotai Junan Futures, told Reuters on Monday.

On Sunday, CNBC reported that the governments of the U.K., France and Germany also urged a “credible investigation to establish the truth about what happened, and – if relevant – to identify those bearing responsibility for the disappearance of Jamal Khashoggi, and ensure that they are held to account.”

In an interview with CBS news, U.S. President Donald Trump pledged to inflict “severe punishment” in Saudi Arabia for the disappearance of Khashoggi. However, he left out the option of slapping sanctions on the country and said he would not halt the sales of military equipment to the kingdom.

“I’ll tell you what I don’t want to do,” Trump told CBS. “I don’t want to hurt jobs. I don’t want to lose an order like that. And you know what, there are other ways of punishing. There’s a lot at stake. And, maybe especially so because this man was a reporter. There’s something, you’ll be surprised to hear me say that, there’s something really terrible and disgusting about that if that were the case. We’re going to get to the bottom of it and there will be severe punishment.”

On the demand side, Reuters reported that South Korea halted its oil imports from Iran for the first time in years.

“South Korea’s move to stop Iran oil imports is giving the market confidence on prices,” Chen Kai, head of research with futures brokerage Shengda Futures, said.

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 3.51%

Investing.com – Saudi Arabia stocks were lower after the close on Sunday, as losses in the Media&Publishing, Agriculture&Food and Insurance sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share fell 3.51% to hit a new 6-months low.

The best performers of the session on the Tadawul All Share were Saudi Industrial Export Co (SE:4140), which rose 9.95% or 5.70 points to trade at 63.00 at the close. Meanwhile, Banque Saudi Fransi (SE:1050) added 3.51% or 1.05 points to end at 31.00 and Samba Financial Group (SE:1090) was up 3.33% or 1.00 points to 31.00 in late trade.

The worst performers of the session were Saudi Enaya Cooperative Insurance (SE:8311), which fell 10.00% or 1.80 points to trade at 16.20 at the close. Malath Cooperative Insurance Co (SE:8020) declined 10.00% or 1.09 points to end at 9.81 and Alujain Corporation (SE:2170) was down 10.00% or 2.38 points to 21.42.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 179 to 7.

Shares in Saudi Industrial Export Co (SE:4140) rose to 52-week highs; rising 9.95% or 5.70 to 63.00. Shares in Saudi Enaya Cooperative Insurance (SE:8311) fell to all time lows; losing 10.00% or 1.80 to 16.20. Shares in Malath Cooperative Insurance Co (SE:8020) fell to all time lows; down 10.00% or 1.09 to 9.81.

Crude oil for November delivery was up 0.72% or 0.51 to $71.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 0.30% or 0.24 to hit $80.50 a barrel, while the December Gold Futures contract fell 0.49% or 6.00 to trade at $1221.60 a troy ounce.

EUR/SAR was down 0.27% to 4.3362, while USD/SAR rose 0.02% to 3.7510.

The US Dollar Index Futures was up 0.26% at 94.94.

Crude Oil Prices - Weekly Outlook: October 15 - 19

Investing.com - Market players are likely to stay focused on global crude supplies in the upcoming week, after a pair of closely watched forecasters said world oil stocks are adequate and the outlook for demand is weakening.

The monthly report by the International Energy Agency (IEA) on Friday said the market looked "adequately supplied for now" and trimmed its forecasts for world demand growth this year and next.

"This is due to a weaker economic outlook, trade concerns, higher oil prices and a revision to Chinese data," said the IEA, which advises industrialized countries on energy policy.

The IEA report is the latest government assessment to predict weaker demand ahead and conclude that supply is adequate. The Organization of the Petroleum Exporting Countries (OPEC) made a similar assessment on Thursday.

November West Texas Intermediate crude rose 37 cents, or 0.5%, to settle at $71.34 a barrel on the New York Mercantile Exchange by close of trade Friday. It suffered a weekly loss about 4%.

The global benchmark, Brent crude for December delivery on the ICE Futures Europe exchange, added 17 cents, or 0.2%, to close at $80.43 a barrel after briefly dipping as low as $79.23, the lowest since Sept. 24. It posted a drop of roughly 4.4% for the week.

Both benchmarks, which registered their first weekly declines in five weeks, shed some 3% Thursday, tracking a sharp selloff across global stock markets.

Looking ahead, market players will focus on fresh weekly data on U.S. commercial crude inventories to weigh what the impact of Hurricane Michael was on supply and demand.

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

Tuesday, October 16

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

Wednesday, October 17

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

Friday, October 19

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

Weekly Outlook: October 15 - 19

Investing.com - After a week which saw a rout in global equity markets triggered by fears over rising bond yields, concerns about global growth and an escalating trade war there’s a lot on this week’s calendar to keep investors on edge.

On Wednesday investors will get the chance to review the minutes of the Federal Reserve’s September meeting, when it raised rates for a third time this year.

The minutes come in the wake of President Donald Trump’s criticism of the central bank’s recent rate hikes.

Investors will also get updates on U.S. retail sales, industrial production and the health of the housing market.

Outside the U.S., Italy’s budget is likely to remain in focus, while investors will be monitoring the pound ahead of a crunch European Union summit on Brexit on Thursday. The UK is also set to release figures on employment, inflation and retail sales this week.

Meanwhile, China is to release what will be closely watched data on third quarter growth on Friday, amid concerns about the global economic outlook and the ongoing trade spat between Washington and Beijing.

The dollar rebounded against a currency basket on Friday, snapping three days of declines as a sense of calm returned to U.S. stock markets with investors looking ahead to the third quarter earnings reporting season.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.26% at 94.94 late Friday.

The index had hit a seven-week high of 95.84 on Tuesday as the yield on 10-year Treasury notes hit seven year highs spurred by worries over the impact of rising interest rates.

Gains in the greenback saw the euro and the pound retreat from multi-week highs.

EUR/USD was down 0.29% to 1.1559 late Friday, off an almost two-week peak of 1.1609.

GBP/USD was down 0.59% to 1.3154 after reaching a three-week high of 1.3258 overnight as speculation continued over whether Britain will secure a deal before its exit from the EU.

The dollar was little changed against the safe haven yen late Friday, with USD/JPY at 112.19.

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

Monday, October 15

Monday is the deadline for European Union countries to submit their draft 2019 budgets to the European Commission and Italy’s proposed budget is likely to garner the most attention.

The U.S. is to release data on retail sales.

The Bank of Canada is to publish its business outlook survey.

Tuesday, October 16

New Zealand is to release data on consumer price inflation.

The Reserve Bank of Australia is to publish the minutes of its latest monetary policy meeting.

China is to release inflation data.

The UK is to produce its latest employment report.

Wednesday, October 17

The UK is to report on inflation figures.

Canada is to release data on manufacturing sales.

The U.S. is to report on building permits and housing starts.

Later in the day, the Fed is to publish the minutes of its September meeting.

Thursday, October 18

Australia is to publish its latest jobs report.

Bank of Japan Governor Haruhiko Kuroda is to speak at an event in Tokyo.

The UK is to release data on retail sales.

The EU is to hold a summit meeting where the UK may reach a deal with the bloc on Brexit.

Friday, October 19

China is to release data on third quarter growth as well as figures on fixed asset investment and industrial production.

The UK is to publish figures for public sector borrowing.

Canada is to produce data on retail sales and inflation.

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

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

Mexico stocks lower at close of trade; S&P/BMV IPC down 0.24%

Investing.com – Mexico stocks were lower after the close on Friday, as losses in the Consumer Goods&Services, Telecoms Services and Healthcare sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC declined 0.24% to hit a new 3-months low.

The best performers of the session on the S&P/BMV IPC were Gentera SAB de CV (MX:GENTERA), which rose 3.55% or 0.630 points to trade at 18.380 at the close. Meanwhile, Megacable Holdings, S.A.B. De C.V. (MX:MEGACPO) added 2.23% or 2.110 points to end at 96.650 and Grupo Financiero Santander Mexico SAB de CV Class B (MX:BSMXB) was up 1.70% or 0.480 points to 28.710 in late trade.

The worst performers of the session were Grupo Bimbo, S.A.B. De C.V. (MX:BIMBOA), which fell 3.32% or 1.280 points to trade at 37.330 at the close. Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA) declined 2.75% or 22.07 points to end at 780.08 and Genomma Lab Internacional SAB De CV (MX:LABB) was down 2.19% or 0.330 points to 14.730.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 140 to 120 and 7 ended unchanged.

Gold Futures for December delivery was down 0.51% or 6.20 to $1221.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.79% or 0.56 to hit $71.53 a barrel, while the December Brent oil contract rose 0.36% or 0.29 to trade at $80.55 a barrel.

USD/MXN was down 0.60% to 18.8649, while EUR/MXN fell 0.87% to 21.8105.

The US Dollar Index Futures was up 0.25% at 94.93.

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.15%

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

At the close in NYSE, the Dow Jones Industrial Average rose 1.15%, while the S&P 500 index added 1.42%, and the NASDAQ Composite index gained 2.29%.

The best performers of the session on the Dow Jones Industrial Average were Visa Inc (NYSE:V), which rose 4.73% or 6.33 points to trade at 140.06 at the close. Meanwhile, Walgreens Boots Alliance Inc (NASDAQ:WBA) added 3.67% or 2.60 points to end at 73.50 and Cisco Systems Inc (NASDAQ:CSCO) was up 3.60% or 1.59 points to 45.71 in late trade.

The worst performers of the session were JPMorgan Chase&Co (NYSE:JPM), which fell 1.09% or 1.18 points to trade at 106.95 at the close. The Travelers Companies Inc (NYSE:TRV) declined 0.53% or 0.66 points to end at 123.65 and Chevron Corp (NYSE:CVX) was down 0.56% or 0.66 points to 117.77.

The top performers on the S&P 500 were Netflix Inc (NASDAQ:NFLX) which rose 5.75% to 339.56, Autodesk Inc (NASDAQ:ADSK) which was up 5.57% to settle at 138.18 and Intuit Inc (NASDAQ:INTU) which gained 5.55% to close at 211.82.

The worst performers were PNC Financial Services Group Inc (NYSE:PNC) which was down 5.58% to 124.26 in late trade, Freeport-McMoran Copper&Gold Inc (NYSE:FCX) which lost 3.34% to settle at 12.74 and Signet Jewelers Ltd (NYSE:SIG) which was down 3.20% to 58.03 at the close.

The top performers on the NASDAQ Composite were Corium International Inc (NASDAQ:CORI) which rose 52.83% to 12.700, Auris Medical Holding AG (NASDAQ:EARS) which was up 44.12% to settle at 0.980 and Youngevity International Inc (NASDAQ:YGYI) which gained 40.74% to close at 13.300.

The worst performers were Immune Design Corp (NASDAQ:IMDZ) which was down 33.69% to 1.85 in late trade, Intellipharmaceutics International Inc (NASDAQ:IPCI) which lost 21.00% to settle at 0.640 and Kelly Services B Inc (NASDAQ:KELYB) which was down 20.00% to 17.600 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1759 to 1326 and 70 ended unchanged; on the Nasdaq Stock Exchange, 1555 rose and 1074 declined, while 91 ended unchanged.

Shares in PNC Financial Services Group Inc (NYSE:PNC) fell to 52-week lows; losing 5.58% or 7.35 to 124.26. Shares in Freeport-McMoran Copper&Gold Inc (NYSE:FCX) fell to 52-week lows; down 3.34% or 0.44 to 12.74. Shares in Immune Design Corp (NASDAQ:IMDZ) fell to all time lows; down 33.69% or 0.94 to 1.85. Shares in Intellipharmaceutics International Inc (NASDAQ:IPCI) fell to all time lows; losing 21.00% or 0.170 to 0.640. Shares in Youngevity International Inc (NASDAQ:YGYI) rose to 5-year highs; up 40.74% or 3.850 to 13.300.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 13.83% to 21.31.

Gold Futures for December delivery was down 0.53% or 6.50 to $1221.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.77% or 0.55 to hit $71.52 a barrel, while the December Brent oil contract rose 0.34% or 0.27 to trade at $80.53 a barrel.

EUR/USD was down 0.31% to 1.1557, while USD/JPY rose 0.03% to 112.20.

The US Dollar Index Futures was up 0.27% at 94.95.

Alphabet A Rises 3%

Investing.com - Alphabet A (NASDAQ:GOOGL) rose by 3% to trade at $1,123.69 by 15:55 (19:55 GMT) on Friday on the NASDAQ exchange.

The volume of Alphabet A shares traded since the start of the session was 2.04M. Alphabet A has traded in a range of $1,095.03 to $1,123.78 on the day.

The stock has traded at $1.21K at its highest and $1.08K at its lowest during the past seven days.

Oil Rebounds, but Still Ends Week With Biggest Loss Since Q2

Investing.com - Oil prices rebounded Friday from the previous day's rout, but still logged their biggest weekly loss since the second quarter after data showed U.S. drillers ramping up output, even as a second global energy agency said the market was adequately supplied.

A weekly reading on the U.S. oil rig count rose by eight, the first such climb in four weeks, which signaled the U.S. shale crude industry was intensifying drilling with prices near four-year highs. Shale drillers were largely responsible for the 2014-2017 crude glut.

The Paris-based IEA, which watches over the interest of Western crude importers said in its monthly report that oil markets looked “adequately supplied for now” after a big production increase in the last six months. But it added that the spare capacity of oil producers to deal with emergencies were down to just 2% of global demand.

The IEA's remarks came a day after Vienna-based OPEC, which groups some of oil's biggest exporters, slashed its own demand growth forecast for this year by 800,000 barrels per day to 1.54 million bpd, citing headwinds to the global economy. OPEC even suggested there could be another oil glut by 2019 if output continued rising.

That warning, along with a global rout in equities and a surprisingly large weekly build in U.S. crude stockpiles, hammered oil prices down by 3% on Thursday.

The IEA’s follow-up caution on Friday saw mixed reactions from oil traders and analysts who had been preparing for crude to go to $100 a barrel after U.S. sanctions against Iran oil exports begin in November.

"I see the bearish story coming in the next six months, but think we will get a rally first," Scott Shelton, an energy broker at ICAP (LON:NXGN) in Durham, N.C., said, agreeing in principle with the IEA's outlook. "The focus remains on global macro for now."

But Phil Flynn, analyst at the Price Futures Group in Chicago, said the IEA was "famous for underestimating demand" and was back in that role to push prices lower when higher investments were required in oil.

"Their underestimation probably helped lead us to where we are today,” Flynn said. “Is it any wonder why global spare production capacity is at an all-time low?"

US West Texas Intermediate (WTI) crude settled up 53 cents, or 0.7%, at $71.34 a barrel on the day. For the week it fell 4%, the sharpest slide since the week to May 20.

London-traded Brent crude, the benchmark outside the U.S., was up 16 cents, or 0.2%, at $80.42 by 2:42 PM ET (18:42 GMT). It fell 4.4% on the week, the biggest drop since the week to April 1.

The weekly corrections aside, Brent remained up 20% on the year and WTI 18%.

On other U.S. energy markets, RBOB gasoline rose 0.6% to $1.9432 a gallon, while heating oil, a proxy for distillates and diesel, fell 0.4% to $2.3224 a gallon. Natural gas futures fell 2% to $3.16 per million British thermal units.

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.