Briefing.com<\/a> analyst Patrick O’Hare said a lack of buying conviction on Wall Street wasn’t notable. But the lack of selling conviction despite reaching new all-time highs could spark concerns about potential overvaluations.<\/p>\n“The market is effectively riding the trend until the price action tells it to jump off that ride,” said O’Hare. “That message hasn’t been delivered yet.”<\/p>\n
European stock markets ended flat, while Asia’s main indices made gains.<\/p>\n
There were fresh records this week also for Tokyo and Seoul, while London on Friday neared a new all-time high, before giving up its gains and ending the day lower.<\/p>\n
A drop in the British pound after data showing the UK economy stalled in July had helped support equities for most of the trading session.<\/p>\n
Hong Kong led the way among Asia’s top stock markets on Friday, closing up more than one percent thanks to a surge of more than five percent in the share price of Alibaba.<\/p>\n
The e-commerce titan’s New York stock had jumped eight percent Thursday, helped by its latest moves in the artificial intelligence sector.<\/p>\n
This week also saw more record highs for the price of gold, viewed as a safe haven investment, following escalating tensions over the Israel-Gaza and Russia-Ukraine conflicts.<\/p>\n
Russia’s central bank on Friday trimmed its key interest rate to 17 percent as the country risks an economic slowdown.<\/p>\n
The Bank of England is next week widely expected to keep its key rate on hold as elevated UK inflation offsets stagnant growth.<\/p>\n
The European Central Bank on Thursday held interest rates steady, with eurozone inflation under control and trade tensions having eased, even as France’s political crisis presents policymakers with a fresh challenge.<\/p>\n
Oil prices climbed as concerns about additional sanctions targeting Russian crude exports outweighed concerns about excess supply on the market.<\/p>\n
– Key figures at around 2010 GMT –<\/p>\n
New York – Dow: DOWN 0.6 percent at 45,834.22 points (close)<\/p>\n
New York – S&P 500: DOWN 0.1 percent at 6,584.29 (close)<\/p>\n
New York – Nasdaq Composite: UP 0.4 percent at 22,141.10 (close)<\/p>\n
London – FTSE 100: DOWN\u00a00.2 percent at 9,283.29 (close)<\/p>\n
Paris – CAC 40: FLAT at 7,825.24 (close)<\/p>\n
Frankfurt – DAX: FLAT at 23,698.15 (close)<\/p>\n
Tokyo – Nikkei 225: UP 0.9 percent at 44,768.12 (close)<\/p>\n
Hong Kong – Hang Seng Index: UP 1.2 percent at 26,388.16 (close)<\/p>\n
Shanghai – Composite: DOWN 0.1 percent at 3,870.60 (close)<\/p>\n
Euro\/dollar: DOWN at $1.1731 from $1.1732 on Thursday<\/p>\n
Pound\/dollar: DOWN at $1.3560 from $1.3580<\/p>\n
Dollar\/yen: UP at 147.67 from 147.18 yen<\/p>\n
Euro\/pound: UP at 86.52 pence from 86.43 pence<\/p>\n
Brent North Sea Crude: UP 0.9 percent at $66.99 per barrel<\/p>\n
West Texas Intermediate: UP 0.5 percent at $62.69 per barrel<\/p>\n
burs-rl-bys\/des<\/p>\n","protected":false},"excerpt":{"rendered":"Global stocks on Friday mostly held onto gains made earlier this week on expectations of a cut to…\n","protected":false},"author":2,"featured_media":152928,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[67437,28,26897,101,93940,10977,10988,2800,939,7905,81162,2402,3423,9569,162,93939,23901,90963,112,47015,2066,26929,55906,76087,26930,6480,1169,918,4014],"class_list":["post-152927","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-afp","tag-business","tag-economies","tag-economy","tag-economy-of-the-united-kingdom","tag-euro","tag-european-central-bank","tag-federal-reserve","tag-finance","tag-financial-markets","tag-ftse-100-index","tag-inflation","tag-interest","tag-interest-rate","tag-investment","tag-macroeconomic-problems","tag-macroeconomics","tag-market-economics","tag-markets","tag-monetary-economics","tag-money","tag-political-economy","tag-pound-sterling","tag-price-of-oil","tag-private-sector","tag-stock","tag-stock-market","tag-wall-street","tag-west-texas-intermediate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/152927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=152927"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/152927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/152928"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=152927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=152927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=152927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}