Stocks slip as Apple falls on lower outlook - 5.11.2018

Dollar rebounds on strong jobs report

US equities ended lower on Friday led by technology shares on weaker than expected Apple earnings outlook. S&P 500 lost 0.6% to 2723.06, closing 2.4% higher for the week. Dow Jones industrial average slid 0.4% to 25270.83. The Nasdaq fell 1% to 7356.99. The dollar strengthening resumed on stronger than expected October jobs report while US trade deficit widened : the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 96.477 but is lower currently. Futures on stock indices point to lower openings today.

FTSE opens lower as other European indices steady

European stocks extended gains on Friday. Both the EUR/USD and GBP/USD turned lower with euro down currently while Pound edging higher. The Stoxx Europe 600 Index added 0.3%, booking 3.3% gain for the week. The DAX 30 rose 0.4% to 11518.99. France’s CAC 40 gained 0.3% while UK’s FTSE 100 retreated 0.3% to 7094.12.Indices opened flat to 0.1% lower today.

Hang Seng leads Asian indices retreat

Asian stock indices are mostly lower today led by Chinese stocks. Nikkei lost 1.6% to 21898.99 despite yen turn lower against the dollar as Bank of Japan Governor Haruhiko Kuroda said economy doesn’t need surprise stimulus. Chinese stocks are sliding as China's services sector growth slipped in October: the Shanghai Composite Index is down 0.4% and Hong Kong’s Hang Seng Index is 2.3% lower. Australia’s All Ordinaries Index lost 0.5% with Australian dollar little changed against the greenback.

Brent down

Brent futures prices are edging lower today as the US granted waivers to major buyers of Iranian crude oil before Iran export sanctions came into effect. Prices slipped on Friday: Brent for January settlement edged 0.1% lower to close at $72.83 a barrel Friday.