NEW YORK, New York – Investors were divided on the direction of the various key stock indices on Wall Street Friday, with the Dow Jones edging out in front while the Nasdaq Composite and Standard and Poor’s 500 lagged.
“We have been in a very contentious tug of war between the equity markets and the treasury markets,” Art Hogan, chief market strategist at B.Riley told CNBC Friday. “Equity investors seem to be looking through a couple more rate hikes and looking forward to a pause,” he added.
The Dow Jones industrials rallied 129.84 points or 0.39 percent to close Friday at 33,826.69.
The Nasdaq Composite dropped 68.56 points or 0.58 percent to 11,787.27.
The Standard and Poor’s 500 slipped 11.31 points or 0.28 percent to 4,079.10.
The U.S. dollar was mostly higher. However, gains were trimmed towards the close. Following are the rates just before Friday’s U.S. close:
- EUR/USD: 1.06949, up 0.21% or 0.00229
- USD/JPY: 134.154, up 0.16% or 0.213
- USD/CAD: 1.34760, up 0.15% or 0.00202
- GBP/USD: 1.20410, up 0.41% or 0.00492
- USD/CHF: 0.92456, down 0.08% or -0.00071
- AUD/USD: 0.68791, up 0.01% or 0.00007
- NZD/USD: 0.62429, down 0.22% or -0.00140
(Note that the first currency listed in each pair is the base currency, and the second currency is the quote currency. The percentage change is given as the change in the exchange rate from the previous day’s close).
Global equity markets were mixed on Friday, with some indices ending the day slightly down while others saw modest gains.
In Europe, the ESTX 50 PR.EUR fell by 0.52 percent, closing at 4,274.92, while the Euronext 100 Index was down by 0.60 percent, ending the day at 1,366.91. The Dax in Germany dropped by 0.33 percent, finishing at 15,482.00, while the CAC 40 in Paris, France fell by 0.25 percent to close Friday at 7,347.72.
The BEL 20 in Belgium, however, saw a slight gain of 0.08 percent, closing at 3,919.02.
In London, the FTSE 100 fell by 0.10 percent, closing at 8,004.36. Similarly,
In Asia, the Nikkei 225 in Japan was down by 0.66 percent, closing at 27,513.13, while the HHang Seng in Hong Kong fell by 1.28 percent to finish at 20,719.81. The Shanghai Composite Index in China also saw a decline of 0.77 percent, ending the day at 3,224.02, while the Shenzhen Index fell by 1.61 percent to close at 11,715.77.
The STI Index in Singapore saw a modest gain of 0.52 percent, closing at 3,328.37. The IDX COMPOSITE in Indonesia was relatively flat, with a small gain of 0.05 percent, closing at 6,895.71. In Malaysia, the FTSE Bursa Malaysia KLCI fell by 0.50 percent, closing at 1,476.90.
The KOSPI Composite Index in South Korea fell by 0.98 percent, ending the day at 2,451.21.
Moving to the S&P/ASX 200 in Australia, this benchmark index was down by 0.86 percent, closing at 7,346.80, while the Australian All Ordinaries dived 68.50 points or 0.90 percent to 7,552.20.
The S&P/NZX 50 in New Zealand saw a slight decline of 0.11 percent, closing at 12,144.66.
Finally, in Russia, the MOEX Russia Index was down by 0.19 percent, finishing at 2,222.51.
That’s it for Friday’s markets report.