Trading day in one post 10.11.2017

Asian stock market: Asia markets came under pressure on Friday, following the weaker lead from Wall Street after Senate Republicans unveiled their tax reform plan on Thursday. The Nikkei 225 tumbled 0.87 percent, extending losses made on Thursday when the index sharply fell in the second half of the day after gaining some 2 percent during morning trade. Across the Korean Strait, the Kospi lost 0.22 percent. Gains were seen in manufacturing names, with Posco climbing 1.25 percent, but blue chip names struggled: Samsung Electronics was flat and Hyundai Motors fell 0.96 percent. Down Under, the S&P/ASX 200 shed 0.34 percent as the materials sub-index led losses on the broader index: Rio Tinto was down 2.26 percent and BHP shed 2.31 percent. Greater China markets hovered near the flat line. Hong Kong's Hang Seng Index was off 0.04 percent. On the mainland, the Shanghai Composite edged down 0.15 percent and the Shenzhen Composite inched 0.03 percent higher.

Currency market: The Bloomberg Dollar Spot Index was steady. It's headed for the first weekly decline in four. The Aussie dollar was up slightly at 76.81 U.S. cents. It fell as much as 0.2% after the RBA monetary policy statement. The New Zealand dollar fell 0.2% to 69.83 U.S. cents. The yen traded at 113.45 per dollar, heading for a weekly gain. The euro was trading at $1.1645

Commodity markets: WTI crude fell 0.2% to $57.03 a barrel. It's headed for its fifth weekly gain as it benefited from the anti-corruption drive in Saudi Arabia, which supports extending OPEC-led output cuts. Saudi Arabia's foreign minister on Thursday called for sanctions to be imposed on Iran for its support of terrorism. The country also said it planned to cut crude exports in December, Reuters reported. Gold was steady at $1,284.91 an ounce, around a three-week high.

European stock market: Stocks closed in negative territory on Thursday, as a flurry of corporate earnings for the third quarter triggered sharp price moves, many negative, across some sectors and bourses. Vestas the world's largest maker of wind turbines was the worst performer of the STOXX 600, falling over 17 percent as it lowered its 2017 profit margin outlook. Today the major indices will open without any significant changes. German DAX will start the session 9 points higher at 13,191; French CAC remains flat, and UKX will start the last day of the trading week with around 5 points decline. Today investors will remain cautious due to the negative results from Asia and the U.S.

U.S. stock market: U.S. equities fell on Thursday, pulling back from record highs, on worries that a corporate tax cut could be delayed. A proposed plan by Senate Republicans would push slashing the corporate tax rate from 35 percent to 20 percent until 2019. The move contrasts with a bill working its way through the House. The proposed Senate measure would also alter the individual tax system. Expectations for tax reform have increased recently, helping lift the stock market to all-time highs. The major indexes briefly fell more than 1 percent on Thursday, but managed to close well off their session lows. The Dow Jones industrial average finished 101.42 points lower at 23,461.94, with McDonald's as the biggest decliner; it fell 1.8 percent. The Dow briefly fell more than 250 points. The S&P 500 pulled back 0.4 percent to 2,584.62, with industrials as the leading decliner; the sector fell 1.3 percent. The Nasdaq composite lagged, falling 0.6 percent to 6,750.05.

Economic calendar for the European and U.S. trading session:

11:30 UK - Manufacturing Production
17:00 USA - Michigan Consumer Sentiment
17:30 USA - ECRI Weekly Index
20:00 USA - U.S. Baker Hughes Oil Rig Count
21:00 USA - Federal Budget Balance

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