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U.S. Stocks Mixed With Dollar as Oil Stabilizes: Markets Wrap
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Loading...U.S. stocks fluctuated, while Treasuries and the dollar edged lower as a week dominated by crude’s tumble into a bear market ended with a tone of caution prevailing
The S&P 500 Index looked to finish the five days virtually where it began, as rallies in health-care and tech shares offset a rout in energy producers.
Shares in the U.K. headed for a fourth day of losses with Brexit negotiations under way a year after the nation voted to leave the European Union.
Weakness in energy prices were the theme of the week, with oil in New York and London dropping into a bear market on concerns that expanding supply in the U.S. and Libya will counter output cuts from the Organization of Petroleum Exporting Countries.
Here are the main moves in markets:
The S&P 500 Index was unchanged at 2,434.50 at 10:06 a.m. in New York. It’s up less than one point in the five days.
The Stoxx Europe 600 Index slipped 0.4 percent. The gauge is down by the same amount this week.
The FTSE 100 Index was down 0.2 percent, heading for a 0.5 percent weekly decline, its third straight five-day drop.
Commodities:
Gold futures rose 0.7 percent to $1,258.40 an ounce, for a third day of gains.
Currencies:
The Bloomberg Dollar Spot Index fell 0.1 percent. It’s still up 0.4 percent for the week, after rallying Monday and Tuesday on Fed rate-hike expectations.
The pound strengthened 0.3 percent to $1.2718, paring its drop this week to 0.5 percent.
The euro climbed 0.3 percent to $1.1182.
The yen rose less than 0.1 percent to 111.28 per dollar.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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