Global markets mixed after Wall Street loss

Stock trader Luke Scanlon, right, works at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)
Traders work at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)

BEIJING — Asian markets slid Friday while Europe gained in early trading ahead of the Christmas holiday after Wall Street fell for a second day.

KEEPING SCORE: France's CAC-40 gained 0.1 percent to 4,840.24 and Germany's DAX rose 0.1 percent to 11,472.34. London's FTSE 100 was down 2 points at 7,061.65. On Thursday, the DAX lost 0.1 percent, the FTSE added 0.3 percent and the CAC-40 was little changed. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 index were unchanged.

ASIA'S DAY: The Shanghai Composite Index fell 0.9 percent to 3,110.15 and Hong Kong's Hang Seng retreated 0.3 percent to 21,574.76. Sydney's S&P-ASX 200 was off 0.3 percent to 5,627.90 and Seoul's Kospi declined a fraction of a point to 2,035.90. India's Sensex added 0.4 percent to 26,077.96. Japanese markets were closed for a holiday. Benchmarks in New Zealand and Bangkok advanced. Taiwan and other Southeast Asian markets declined.

WALL STREET: Retailers pulled U.S. stocks lower after a record close for the Dow Jones industrial average earlier in the week. Investors dumped retailers including Bed Bath & Beyond, Target, Staples and Dollar Tree. Companies linked to investor Carl Icahn climbed after he was named as an adviser to President-elect Donald Trump. The Dow shed 23.08 points, or 0.1 percent, to 19,918.88. The Standard & Poor's 500 index lost 4.22 points, or 0.2 percent, to 2,260.96. The Nasdaq composite dipped 24.01 points, or 0.4 percent, to 5,447.42.

ANALYST'S TAKE: "Santa has taken a leave of absence into the end of the week with a pullback seen on Wall Street," said Jingyi Pan of IG in a report. "Traders have been closing their position into the end of the year and have brought down most of the sectors on the S&P 500 index with the exception of energy and defensives — telecommunications and utilities. Asian indices could remain depressed into the end of the year."

US ECONOMY: The U.S. economy grew at a 3.5 percent annual rate in the July-September quarter, the fastest pace in two years and more than the government had previously estimated. The gain in the gross domestic product came from added strength in consumer spending, business investment and the government sector, the Commerce Department said. The government had previously estimated last quarter's annual growth rate at 3.2 percent.

ENERGY: Benchmark U.S. crude lost 43 cents to $52.52 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 46 cents on Thursday to $52.95. Brent crude, used to price international oils, fell 41 cents to $54.64 in London. It rose 59 cents the previous session to $55.05.

CURRENCY: The dollar declined to 117.40 yen from Thursday's 117.45 yen. The euro improved to $1.0444 from $1.0439.

Must Read

Tesla's Autopilot system under scrutiny in fatal...

Sep 15, 2016

Tesla faces new scrutiny in China about its vehicle Autopilot system after state television...

China begins to ease its 2,000-year-old monopoly...

Jan 3, 2017

China has started an overhaul of its salt industry, easing a monopoly that has existed in some form...

Choked by smog, Beijing creates new environmental...

Jan 8, 2017

Officials in Beijing have announced a new environmental police squad to root out illegal burning in...

South Korean cinema leads nominees at Asian Film...

Jan 11, 2017

South Korean cinema has fared well in the nominations for the Asian Film Awards

China auto market has bumper year but 2017...

Jan 12, 2017

Industry figures show China's auto market had a bumper year in 2016 as sales grew by 15 percent,...

Sign up now!

Advertisement