(Updates with afternoon U.S. trading; adds NEW YORK dateline)...

  1. 184,642 Posts.
    lightbulb Created with Sketch. 2711

    (Updates with afternoon U.S. trading; adds NEW YORK dateline)

    • MSCI world share index down after 3 days of gains
    • U.S. Treasury yields at highest in nearly three months
    • Dollar index on track for 3rd week of gains
    • Oil prices rise, Brent up to near three-year high

    European equity markets fell on Friday and major U.S. indexes were little changed as worries over fallout from debt-laden China Evergrande persisted, while U.S. bond yields pushed higher after hawkish stances from central banks.

    MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.20% after three days of gains, leaving it little changed for the week.

    Concern over whether distress at Evergrande could spill into the broader economy has hovered over markets this week. Evergrande's electric car unit warned it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer's liquidity crisis is worsening in other parts of its business.

    “You look back on this week and there is a lot for global markets to digest,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

    “There is still not clarity on how China will address the cracks in their credit markets.”

    On Wall Street, the Dow Jones Industrial Average .DJI fell 4.97 points, or 0.01%, to 34,759.85, the S&P 500 .SPX gained 1.89 points, or 0.04%, to 4,450.87 and the Nasdaq Composite .IXIC dropped 22.91 points, or 0.15%, to 15,029.34.

    Gains in S&P 500 cyclical sectors such as financials and energy countered declines for the tech and healthcare groups.

    The pan-European STOXX 600 index .STOXX lost 0.90% as weak German business confidence data also weighed.

    "Some of the hesitancy in European markets could also be put down to the German elections, which promise to be the most interesting in some time," said Chris Beauchamp, chief market analyst at IG.

    Investors were also assessing a busy week of central bank meetings around the world, including arguably more hawkish stances from the U.S. Federal Reserve, as well as from policymakers in Britain and Norway.

    Yields on benchmark U.S. 10-year Treasury notes US10YT=RR hit their highest level since July 2. The notes fell 13/32 in price to yield 1.4526%, from 1.41% late on Thursday.

    "A week of central bank action has shown us that policymakers are ready to move toward reining in on loose monetary policies introduced during the pandemic," ING analysts wrote in a note to clients.

    The dollar index =USD rose 0.22% and was on track for a third straight week of gains, with the euro EUR= down 0.19% to $1.1714. The Japanese yen weakened 0.39% versus the greenback at 110.75 per dollar.

    Oil prices rose, with Brent up to a near three-year high, supported by global output disruptions and inventory draws.

    U.S. crude CLc1 rose 0.93% to $73.98 per barrel and Brent LCOc1 was at $77.97, up 0.93% on the day.

    Spot gold XAU= added 0.5% to $1,750.92 an ounce.

    	<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 
    World FX rates YTD	http://tmsnrt.rs/2egbfVh 
    

    Global asset performance http://tmsnrt.rs/2yaDPgn Asian stock markets https://tmsnrt.rs/2zpUAr4 U.S. 10-year government bond yield https://tmsnrt.rs/2ZjqBQU

    	^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> 
    ((To read Reuters Markets and Finance news, click on  
    

    https://www.reuters.com/finance/markets))

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.