Dax Slips Lower as Markets Digest Weekend Elections

Investing.com - European markets slipped lower on Monday, as markets digested the results of the German federal elections that took place on Sunday and showed growing support for a far-right party.

The EURO STOXX 50 dipped 0.04%, France’s CAC 40 fell 0.14%, while Germany’s DAX 30 was down 0.11% by 03:30 a.m. ET (07:30 GMT).

Chancellor Angela Merkel won a fourth term in office on Sunday but will have to build a coalition to form a government as Conservatives lost support in the face of a surge by the anti-immigration Alternative for Germany (AfD).

Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) slid 0.31% and 0.57%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) lost 0.47% and 0.93%.

Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) declined 0.34% and 0.67% respectively, while Banco Santander (MC:SAN) and BBVA (MC:BBVA) fell 0.17% and 0.49%.

Elsewhere, Deutsche Telekom AG (DE:DTEGn) climbed 0.39% following news the company has greenlit “Germanized”, a the first original program for the company's Entertain TV service.

Lufthansa added to gains, as shares rallied 1.53% amid reports the German airliner offered to pay €200 million to buy assets from insolvent Air Berlin, plus €100 million to meet operating costs.

In London, commodity-heavy FTSE 100 dropped 0.40%, weighed by sharp losses in the mining sector.

Shares in Glencore (LON:GLEN) fell 0.29% and Fresnillo (LON:FRES) lost 1.39%, while rivals Antofagasta (LON:ANTO) and Anglo American (LON:AAL) plummted 1.38% and 1.61% respectively.

Financial stocks were also broadly lower, as the Royal Bank of Scotland (LON:RBS) slid 0.34% and Lloyds Banking (LON:LLOY) retreated 0.79%, while HSBC Holdings (LON:HSBA) dropped 0.81% and Barclays (LON:BARC) tumbled 1.10%.

Meanwhile, Plexus Holdings Plc surged 5.57% after the company said it had signed a contract with Centrica (LON:CNA) to deliver the group's POS-GRIP adjustable production wellhead for a gas production well in the UK Southern North Sea.

Centrica shares were up 1.12% on Monday morning.

ITV (LON:ITV) added to gains, with shares advancing 1.02% after analysts at Liberum Capital reissued their “buy” rating on the stock.

Market participants were also still digesting a speech by UK Prime Minister Theresa May on Friday in which she gave few new indications on how Brexit will proceed.

May proposed a transition period of around two years after the UK leaves the European Union, during which time access to the single market will continue on current terms.

Following May's speech, ratings agency Moody's downgraded Britain's credit rating to Aa2, saying government plans to reduce debt had been knocked off course and that Brexit would weigh on the economy.

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.09% slip, S&P 500 futures signaled a 0.15% fall, while the Nasdaq 100 futures indicated a 0.23% decline.

Taiwan stocks lower at close of trade; Taiwan Weighted down 1.09%

Investing.com – Taiwan stocks were lower after the close on Monday, as losses in the , Other Electronic and Electronic Parts/Components sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted declined 1.09% to hit a new 1-month low.

The best performers of the session on the Taiwan Weighted were Gamma Optical Co Ltd (TW:3557), which rose 9.97% or 0.570 points to trade at 6.290 at the close. Meanwhile, Ene Technology Inc (TW:6243) added 9.77% or 1.70 points to end at 19.10 and San Chih Semiconductor Inc Ltd (TW:3579) was up 9.71% or 1.50 points to 16.95 in late trade.

The worst performers of the session were First Steamship Co Ltd (TW:2601), which fell 9.98% or 0.88 points to trade at 7.94 at the close. Darwin Precisions Corp (TW:6120) declined 9.93% or 2.75 points to end at 24.95 and Walsin Technology Corp (TW:2492) was down 9.92% or 7.80 points to 70.80.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 682 to 141 and 49 ended unchanged.

Shares in San Chih Semiconductor Inc Ltd (TW:3579) rose to 52-week highs; rising 9.71% or 1.50 to 16.95.

Crude oil for November delivery was down 0.30% or 0.15 to $50.51 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.21% or 0.12 to hit $56.30 a barrel, while the December Gold Futures contract fell 0.18% or 2.34 to trade at $1295.16 a troy ounce.

USD/TWD was up 0.08% to 30.205, while TWD/CNY fell 0.05% to 0.2181.

The US Dollar Index Futures was up 0.18% at 92.12.

Dollar edges higher as markets digest weekend events

Investing.com - The dollar edged higher against other majors currencies on Monday, as markets were recovering from the weekend's elections in Germany and New Zealand, while concerns over tensions between the U.S. and North Korea seemed to subside.

EUR/USD fell 0.24% to 1.1927 as Germany's federal election on Sunday showed growing support for a far-right party.

Chancellor Angela Merkel won a fourth term in office on Sunday but will have to build a coalition to form a government as Conservatives lost support in the face of a surge by the anti-immigration Alternative for Germany (AfD).

GBP/USD added 0.13% to trade at 1.3550, recovering from moderate losses posted on Friday after UK Prime Minister Theresa May gave few new indications on how Brexit will proceed.

May proposed a transition period of around two years after the UK leaves the European Union, during which time access to the single market will continue on current terms.

Following May's speech, ratings agency Moody's downgraded Britain's credit rating to Aa2, saying government plans to reduce debt had been knocked off course and that Brexit would weigh on the economy.

Elsewhere, USD/JPY edged 0.13% higher and USD/CHF added 0.12% to 0.9704 as markets recovered from North Korea's threats last week to conduct a nuclear test in the Pacific Ocean.

The kiwi was sharply lower, with NZD/USD tumbled 0.99% to 0.7268 after no single party won a majority New Zealand's elections over the weekend.

The ruling National Party won the largest number votes, but neither of the major parties won enough seats to gain a majority in parliament, forcing a round of coalition talks that could last days or weeks.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, wasup 0.09% at 92.02 by 02:15 a.m. ET (06:15 GMT).

Australia stocks lower at close of trade; S&P/ASX 200 down 0.00%

Investing.com – Australia stocks were lower after the close on Monday, as losses in the Telecoms Services, A-REITs and Consumer Staples sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.00%.

The best performers of the session on the S&P/ASX 200 were Regis Healthcare Ltd (AX:REG), which rose 3.31% or 0.110 points to trade at 3.430 at the close. Meanwhile, A2 Milk Company Ltd (AX:A2M) added 3.16% or 0.175 points to end at 5.705 and Western Areas Ltd (AX:WSA) was up 2.60% or 0.065 points to 2.565 in late trade.

The worst performers of the session were Chorus Ltd (AX:CNU), which fell 4.84% or 0.180 points to trade at 3.540 at the close. Seven West Media Ltd (AX:SWM) declined 5.17% or 0.038 points to end at 0.688 and Orocobre Ltd (AX:ORE) was down 4.66% or 0.205 points to 4.195.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 581 to 565 and 381 ended unchanged.

Shares in A2 Milk Company Ltd (AX:A2M) rose to all time highs; gaining 3.16% or 0.175 to 5.705.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.36% to 12.300.

Gold Futures for December delivery was down 0.10% or 1.35 to $1296.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.14% or 0.07 to hit $50.59 a barrel, while the December Brent oil contract fell 0.04% or 0.02 to trade at $56.40 a barrel.

AUD/USD was up 0.14% to 0.7965, while AUD/JPY rose 0.27% to 89.39.

The US Dollar Index Futures was up 0.10% at 92.04.

Commodities - Crude Oil Prices Down In Asia On Profit taking After OPEC

Investing.com - Crude oil prices fell in Asia on Monday as investors took profits following supportive comments from OPEC and allies on Friday on the scope for reblancing the market.

U.S. West Texas Intermediate (WTI) crude futures dipped 0.16% to $50.58 a barrel by close of trade, not far from its highest level since May 25 at $51.11 reached on Wednesday. Brent crude dipped 0.09% to $56.37 a barrel.

On other news, The far-right AfD party stunned the German establishment by finishing third and entering parliament for the first time, with 13.5% of the vote. Under Germany's mixed-member proportional voting system, that vaults in well beyond the 5% threshold needed for seats in parliament.

Chancellor Angela Merkel's CDU and Bavarian allies, the Christian Social Union (CSU), won 32.5% of the vote, making them by far the largest parliamentary group, according to an exit poll for the broadcaster ARD, but that is down from 41.5% in the last election in 2013 and lower than recent polling. Their closest rivals, the center-left Social Democrats (SPD), slumped to 20.0%, a new post-war low.

Merkel now needs to work to form a coalition reportedly without the SPD, a process that will likely involve protracted negotiations.

In New Zealand, Bill English's National Party and the Labour party will vie for the support of kingmaker Winston Peters and his New Zealand First Party.

Elsewhere, a 3.4 magnitude earthquake in North Korea reaised speculation of a nuew nuclear test, but monitoring agencies were split on whether itw as a natural event or a nuclear detonation.

Last week, oil prices settled a bit higher on Friday, hovering close to their best levels in months amid optimism that the crude market was starting to rebalance.

For the week, U.S. oil prices gained about 1.5%, their third-straight weekly climb.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., rose 43 cents, or roughly 0.8%, to settle at $56.86 a barrel after touching a more than six-month peak of $56.91 earlier in the session.

The global benchmark closed the week with a gain of 2.2%, its fourth-consecutive weekly climb. Major oil producers convening in Vienna for an OPEC-led committee meeting on Friday boasted record compliance with their production-cut agreement, but, as expected, decided to wait a bit longer to see if any further action was needed.

OPEC and non-OPEC compliance with the deal to curb output rose to 116% in August, the committee said, a strong increase from the 94% compliance achieved a month ago.

Kuwaiti Oil Minister Essam al-Marzouq, who chaired the meeting, said the market "is evidently well on its way towards rebalancing."

In May, OPEC and non-OPEC members led by Russia agreed to extend production cuts of 1.8 million barrels per day for a period of nine months until March 2018 in a bid to reduce global oil inventories and support oil prices.

But so far rising production from the U.S., Nigeria and Libya has undermined the cartel’s efforts to curb excess supply.

Russia’s energy minister suggested that January is the earliest date that an extension to the global accord can be considered, although other ministers suggested such a decision could be taken before the end of this year.

The committee’s next meeting is set for November 29 in Vienna, just a day ahead of OPEC’s regularly scheduled meeting.

Elsewhere, in the U.S., market participants mulled over data showing the number of oil rigs continued to decline, suggesting a possible tightening in domestic production.

Oilfield services firm Baker Hughes said its weekly count of oil rigs operating in the U.S. declined by 5 to 744, marking the third weekly decline in a row.

The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand.

Saudi Arabia stocks lower at close of trade; Tadawul All Share unchanged

Investing.com – Saudi Arabia stocks were lower after the close on Sunday, as in the sectors led shares .

At the close in Saudi Arabia, the Tadawul All Share unchanged 0.00%.

The best performers of the session on the Tadawul All Share were Al Baha Investment and Development Company SJSC (SE:4130), which unchanged 0.00% or 0.00 points to trade at 0.00 at the close. Meanwhile, Malath Cooperative Insurance Co (SE:8020) unchanged 0.00% or 0.00 points to end at 20.16 and The Mediterranean&Gulf Insurance Co (SE:8030) was unchanged 0.00% or 0.00 points to 12.62 in late trade.

The worst performers of the session were Al Baha Investment and Development Company SJSC (SE:4130), which unchanged 0.00% or 0.00 points to trade at 0.00 at the close. Malath Cooperative Insurance Co (SE:8020) unchanged 0.00% or 0.00 points to end at 20.16 and The Mediterranean&Gulf Insurance Co (SE:8030) was 0.00% or 0.00 points to 12.62.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 0 to 0.

Crude oil for November delivery was up 0.18% or 0.09 to $50.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December unchanged 0.00% or 0.00 to hit $56.42 a barrel, while the December Gold Futures contract rose 0.51% or 6.65 to trade at $1301.45 a troy ounce.

EUR/SAR was up 0.09% to 4.4819, while USD/SAR rose 0.01% to 3.7504.

The US Dollar Index Futures was down 0.02% at 91.95.

United Arab Emirates stocks lower at close of trade; DFM General down 0.89%

Investing.com – United Arab Emirates stocks were lower after the close on Sunday, as losses in the Consumer Staples, Telecoms and Finance&Investment sectors led shares lower.

At the close in Dubai, the DFM General declined 0.89% to hit a new 1-month low, while the ADX General index declined 0.33%.

The best performers of the session on the DFM General were Takaful Emarat PSC (DU:TKFE), which rose 4.64% or 0.090 points to trade at 2.030 at the close. Meanwhile, Damac Properties Dubai Co PSC (DU:DAMAC) added 1.32% or 0.050 points to end at 3.830 and Dubai Islamic Insurance Co. (DU:AMAN) was up 0.44% or 0.004 points to 0.915 in late trade.

The worst performers of the session were SHUAA Capital PSC (DU:SHUA), which fell 5.13% or 0.060 points to trade at 1.110 at the close. Takaful House (DU:DTKF) declined 2.91% or 0.030 points to end at 1.000 and DXB Entertainments (P.J.S.C.) (DU:DXBE) was down 2.37% or 0.019 points to 0.781.

The top performers on the ADX General were Al Khaleej Investment Co PJSC (AD:KICO) which rose 11.43% to 3.90, Union Cement (AD:UCC) which was up 5.38% to settle at 1.370 and Ad Shipbldg Co (AD:ADSB) which gained 1.29% to close at 2.360.

The worst performers were Rak Cmt&Cons (AD:RAKC) which was down 9.62% to 0.940 in late trade, Abu Dhabi National Hotels Co (AD:ADNH) which lost 9.22% to settle at 2.66 and Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which was down 8.51% to 0.430 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 29 to 8 and 3 ended unchanged; on the Abu Dhabi, 18 fell and 6 advanced, while 6 ended unchanged.

Shares in Al Khaleej Investment Co PJSC (AD:KICO) rose to 52-week highs; gaining 11.43% or 0.40 to 3.90. Shares in Rak Cmt&Cons (AD:RAKC) fell to 5-year lows; down 9.62% or 0.100 to 0.940. Shares in Union Cement (AD:UCC) rose to 52-week highs; up 5.38% or 0.070 to 1.370. Shares in Abu Dhabi National Hotels Co (AD:ADNH) fell to 52-week lows; down 9.22% or 0.27 to 2.66. Shares in Abu Dhabi National for Building Materials Co PJSC (AD:BILD) fell to 52-week lows; losing 8.51% or 0.040 to 0.430.

Crude oil for November delivery was up 0.18% or 0.09 to $50.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December unchanged 0.00% or 0.00 to hit $56.42 a barrel, while the December Gold Futures contract rose 0.51% or 6.65 to trade at $1301.45 a troy ounce.

USD/AED was unchanged 0.00% to 3.6730, while EUR/AED rose 0.10% to 4.3900.

The US Dollar Index Futures was down 0.02% at 91.95.

Gold / Silver / Copper Futures - Weekly Outlook: September 25 - 29

Investing.com - Gold prices pushed higher on Friday, pulling away from the previous session’s four-week low as risk aversion escalated and the U.S. dollar fell amid heightened tensions on the Korean peninsula.

Gold futures for December delivery settled up 0.51% at $1,301.45 on the Comex division of the New York Mercantile Exchange.

The precious metal was boosted after North Korea said on Friday it could test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump threatened to “totally destroy” the country if the U.S. was forced to defend itself or its allies.

The remarks added to concerns that the escalating rhetoric could lead to one side misinterpreting the other, with dangerous consequences. Many investors favor gold during times of geopolitical uncertainty.

Even with Friday’s gains, gold futures ended the week down 2.09% after the Federal Reserve’s policy statement on Wednesday indicated that it is still on track to raise interest rates in December.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

Elsewhere in precious metals trading, silver was at $17.05 a troy ounce late Friday, while platinum settled at $933.45 with both metals posting a second weekly decline. Palladium added on 0.77% to $918.55 a troy ounce but still posted a third straight weekly decline.

Among base metals, copper ended at $2.95 a pound despite concerns about a slowdown in demand from China.

Rating agency Standard & Poor’s downgraded China on Thursday, saying that “a prolonged period of strong credit growth has increased China’s economic and financial risks.”

In the week ahead, market players will turn their attention to fresh comments from Federal Reserve Chair Janet Yellen as expectations start to grow for a December rate hike.

Investors will be focusing on a pair of speeches from ECB President Mario Draghi as well as remarks from the heads of central banks in the UK, Canada and Japan.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, September 25

Bank of Japan Governor Haruhiko Kuroda is to speak at an event in Osaka.

The Ifo Institute is to report on German business climate.

New York Fed President William Dudley and Chicago President Charles Evans are both due to speak.

ECB President Mario Draghi is to testify about the economy in the European Parliament in Brussels.

Tuesday, September 26

Minneapolis Fed chief Neel Kashkari and Fed Governor Lael Brainard are both to speak.

New Zealand is to release data on business confidence.

The U.S. is to produce reports on consumer confidence and new home sales.

Later in the day, Fed Chair Janet Yellen is due to deliver a speech in Cleveland.

Wednesday, September 27

The U.S. is to release reports on durable goods orders and pending home sales. Later in the day Fed Governor Lael Brainard is to speak.
Bank of Canada Governor Stephen Poloz is to deliver a speech in Newfoundland.

Thursday, September 28

The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision.

Germany is to release preliminary inflation figures.

BoJ Governor Haruhiko Kuroda is to speak at an event in Tokyo.

Bank of England Governor Mark Carney is due to deliver remarks in London. Fed Vice Chair Stanley Fischer is also to speak at the same event.

The U.S. is to release final figures for second quarter growth as well as data on jobless claims.

Friday, September 29

China is to publish its Caixin manufacturing PMI.

Germany is to report on retail sales.

The UK is to publish figures on the current account and a final estimate of second quarter growth.

The euro zone is to publish flash inflation figures for September.

Canada is to report on economic growth for July.

The U.S. is to release reports on personal income and spending, which include the personal consumption expenditures inflation data, the Fed's preferred metric for inflation as well as data on manufacturing activity in the Chicago region.

ECB chief Mario Draghi is scheduled to speak in London.

Crude Oil Futures - Weekly Outlook: September 25 - 29

Investing.com - Oil prices settled a bit higher on Friday, hovering close to their best levels in months amid optimism that the crude market was starting to rebalance.

U.S. West Texas Intermediate (WTI) crude futures tacked on 11 cents, or around 0.2%, to end at $50.66 a barrel by close of trade, not far from its highest level since May 25 at $51.11 reached on Wednesday.

For the week, U.S. oil prices gained about 1.5%, their third-straight weekly climb.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., rose 43 cents, or roughly 0.8%, to settle at $56.86 a barrel after touching a more than six-month peak of $56.91 earlier in the session.

The global benchmark closed the week with a gain of 2.2%, its fourth-consecutive weekly climb.

Major oil producers convening in Vienna for an OPEC-led committee meeting on Friday boasted record compliance with their production-cut agreement, but, as expected, decided to wait a bit longer to see if any further action was needed.

OPEC and non-OPEC compliance with the deal to curb output rose to 116% in August, the committee said, a strong increase from the 94% compliance achieved a month ago.

Kuwaiti Oil Minister Essam al-Marzouq, who chaired the meeting, said the market "is evidently well on its way towards rebalancing."

In May, OPEC and non-OPEC members led by Russia agreed to extend production cuts of 1.8 million barrels per day for a period of nine months until March 2018 in a bid to reduce global oil inventories and support oil prices.

But so far rising production from the U.S., Nigeria and Libya has undermined the cartel’s efforts to curb excess supply.

Russia’s energy minister suggested that January is the earliest date that an extension to the global accord can be considered, although other ministers suggested such a decision could be taken before the end of this year.

The committee’s next meeting is set for November 29 in Vienna, just a day ahead of OPEC’s regularly scheduled meeting.

Elsewhere, in the U.S., market participants mulled over data showing the number of oil rigs continued to decline, suggesting a possible tightening in domestic production.

Oilfield services firm Baker Hughes said its weekly count of oil rigs operating in the U.S. declined by 5 to 744, marking the third weekly decline in a row.

The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand.

Meanwhile, gasoline futures inched up 1.9 cents, or 1.2%, to end at $1.626 on Friday. It closed around 0.4% higher for the week.

Heating oil finished flat at $1.808 a gallon, but still ending roughly 1% higher for the week.

Natural gas futures added 1.4 cents, or 0.5%, to settle at $3.021 per million British thermal units. It saw a weekly loss of nearly 2.2%.

In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to further weigh what the impact of recent storm activity was on supply and demand.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Tuesday, September 26

The American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.

Wednesday, September 27

The U.S. Energy Information Administration is to release weekly data on oil and gasoline stockpiles.

Thursday, September 28

The U.S. government is set to produce a weekly report on natural gas supplies in storage.

Friday, September 29

Baker Hughes will release weekly data on the U.S. oil rig count.

Economic Calendar - Top 5 Things to Watch This Week

Investing.com - In the week ahead, market players will turn their attention to fresh comments from Federal Reserve Chair Janet Yellen as expectations start to grow for a December rate hike.

Meanwhile, investors will be focusing on a pair of speeches from European Central Bank President Mario Draghi for fresh clues on when the central bank will shift away from its ultra-easy policy.

Market participants will also focus on remarks from Bank of England Governor Mark Carney amid recent calls from policymakers for higher interest rates in the months ahead.

In addition, comments from Bank of Canada Governor Stephen Poloz will be on the agenda after the central bank surprised many with a rate increase earlier in September.

Finally, remarks by Bank of Japan Governor Haruhiko Kuroda will be eyed amid growing expectations the Japanese central bank will lag its global peers in tightening monetary policy.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. Fed Chair Yellen Speaks

After signaling that it still intends to raise rates in December last week, the Fed is keeping itself in the market's sights, with Chair Janet Yellen due to deliver a speech titled "Inflation, Uncertainty, and Monetary Policy" at the National Association for Business Economics' Annual Meeting in Cleveland at 4:45PM ET (2045GMT) Tuesday.

Her comments will be monitored closely for any new insight on policy. Last week, the U.S. central bank kept interest rates unchanged but hinted that an increase could still come in December.

Staying on the central bank front, this week will also see comments from a handful of Fed speakers including influential New York Fed President William Dudley, Vice Chair Stanley Fischer, Governor Lael Brainard, Minneapolis Fed chief Neel Kashkari, Chicago Fed President Charles Evans and Philadelphia President Patrick Harker.

On the data front, final figures on second-quarter economic growth are due on Thursday, followed by reports on personal income and spending on Friday, which includes the personal consumption expenditures inflation data, the Fed's preferred metric for inflation.

This week's calendar also features data on CB consumer confidence, new home sales, durable goods orders and weekly jobless claims.

Investors are also likely to continue to monitor the latest headlines coming out of Washington in regard to tax reform. Ongoing tension between the U.S. and North Korea will also be in focus.

2. ECB President Draghi Delivers Comments

ECB President Mario Draghi is due to testify about the economy and monetary developments before the European Parliament Economic and Monetary Affairs Committee in Brussels on Monday at 1300GMT (9:00AM ET).

On Friday, Draghi is scheduled to speak about central bank independence at a conference hosted by the Bank of England in London at around 1415GMT (10:15AM ET).

Draghi indicated last month that the ECB could start tapering its massive stimulus program as early as October.

Besides Draghi, the euro zone will publish flash inflation figures for September on Friday. Germany, France, Italy and Spain will produce their own CPI reports throughout the week.

Meanwhile, Germans are scheduled to vote in a national election on Sunday that is likely to see Chancellor Angela Merkel win a historic fourth term and a far-right party enter parliament for the first time in more than half a century.

3. BoE Governor Carney in Focus

Governor Mark Carney is due to deliver opening remarks at the Bank of England's conference celebrating 20 years of independence in London at 0815GMT (4:15AM ET) Thursday. He is then scheduled to make closing statements at around 1445GMT (10:45AM ET) Friday.

The BoE said earlier this month that it was likely to raise borrowing costs in the months ahead if the economy and price pressures kept growing, flagging Britain's first rate hike in a decade.

Besides the BOE, traders will focus on a final reading of second-quarter economic growth due on Friday for further indications on the continued effect that the Brexit decision is having on the economy.

4. BoC's Poloz on the Agenda

BoC Governor Stephen Poloz is due to speak about recent development in the Canadian economy and implications for monetary policy at the St. John’s Board of Trade luncheon in Newfoundland at about 11:45AM ET (1545GMT) Wednesday.

The Canadian central bank surprised many with a rate increase earlier this month, its second this year, and left the door open to further hikes amid strong economic growth.

According to a recent poll of primary dealers, the BoC is likely done raising interest rates this year, though the central bank is seen charting a more aggressive tightening path for 2018 than had been anticipated.

5. BoJ Governor Kuroda Speaks

BoJ Governor Haruhiko Kuroda is due to speak at a meeting with business leaders in Osaka at 0535GMT (1:35AM ET) Monday. Audience questions are expected.

Kuroda is scheduled to speak again at 0635GMT (2:35AM ET) Thursday, this time at the National Securities Industry Convention in Tokyo.

The Japanese central bank kept monetary policy steady last week, as a new board member dissented in favor of further monetary easing, saying current monetary policy was insufficient to push inflation up to the bank's 2% target.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

Top 5 things that moved markets this past week

Investing.com – Take a peek at the top 5 things that rocked U.S. markets this week.

JP Morgans Jamie Dimon ripped into Bitcoin again

Bitcoin prices ebbed and flowed throughout the week but remained on track for a third-weekly loss as investors mulled over comments from J.P. Morgan Chief Executive Jamie Dimon warning that governments will “close down” bitcoin and cryptocurrencies if they grow too large.

It is not the first time that Dimon has criticized the digital currency. A little over a week ago the JP Morgan boss labeled Bitcoin a “fraud” suggesting that it will “blow up”.

That warning sent shockwaves through the cryptocurrency industry, fuelling further uncertainty over the future prospect of the digital currency amid a Chinese crackdown on local exchanges.

The Fed signalled December rate hike in play

The policymaking Federal Open Market Committee (FOMC) agreed to keep its benchmark rate target at 1%-1.25% on Wednesday.

The "dot plot," part of the FOMC's Summary of Economic Projections, indicated that the central bank saw rates rising to between 1.25% and 1.5% by the end of the 2017, as members stuck with their previous outlook on rate hikes from the June meeting.

The unchanged rate-hike outlook was somewhat unexpected as investor expectations of a December rate hike in the run up to the Fed’s statement were slim amid expectations the sluggish pace of inflation would force the Fed to abandon its plan to hike rates at least once more this year.

The dollar rallied against its rivals on expectations of a year-end rate, scraping a weekly gain.

Apple suffered worst week in more than year

In what was a week of record highs for U.S. stock markets, shares of Apple tumbled more than 3% as the tech giant struggled to shake off recent criticism over its latest smartwatch the Apple Watch Series 3, which hit the shelves on Friday.

Apple confirmed the glitch earlier this week, assuring users that it was working on fix for a future software release.

Shares of Apple Inc (NASDAQ:AAPL) closed at 151.89, down 0.98%.

Crude oil settled above $50 a barrel

Crude futures settled above $50 a barrel on Friday, rounding off a rocky week which saw oil prices ebb and flow as investor expectations grew that Opec would decide to extend the output-cut agreement.

Members of the Organization of the Petroleum Exporting Countries (Opec) and other major producers failed, however, to reach a decision to extend output cuts beyond March 2018 at a meeting in Vienna on Friday.

Russia’s energy minister suggested that January is the earliest date that an extension to the global accord can be considered, as it allows ample time to assess the state of the market.

Gold fell to a weekly loss on rate hike expectations

The Federal Reserve’s signal to hike rates at least once more this year, drew the largest reaction from gold as the non-yielding precious metal slipped below $1,300.

In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-bearing assets such as bonds.

Losses were capped, however, as safe-haven demand returned after President Donald Trump and North Korean leader Kim Jong un traded insults on Friday.

Kim Jong-un said Trump was a "mentally deranged U.S. dotard" and hinted that Pyongyang was preparing to test a hydrogen bomb over the Pacific Ocean.

Demand for gold, however, is expected to remain subdued as data on Friday showed traders unwound some of their bullish bets on the precious metal.

Net bullish bets on gold fell to 236,100, according to a report from the Commodity Futures Trading Commission (CFTC) on Friday.

Gold prices traded at $1301.45, up 0.51% on Friday.

Peru stocks lower at close of trade; S&P Lima General down 0.37%

Investing.com – Peru stocks were lower after the close on Friday, as losses in the Banking&Financials, Services and Electricity sectors led shares lower.

At the close in Lima, the S&P Lima General fell 0.37%.

The best performers of the session on the S&P Lima General were Empresa Agroindustrial Pomalca (LM:POM), which rose 10.00% or 0.019 points to trade at 0.209 at the close. Meanwhile, Atacocha (LM:ATB) added 7.07% or 0.029 points to end at 0.439 and Panoro (LM:PML) was up 5.00% or 0.012 points to 0.252 in late trade.

The worst performers of the session were Trevali Mining (LM:TV), which fell 4.27% or 0.050 points to trade at 1.120 at the close. Inversiones Centenario SAA (LM:ICE) declined 3.01% or 0.090 points to end at 2.900 and ENGIE Energia Peru SA (LM:ENGI) was down 1.88% or 0.150 points to 7.850.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 19 to 14 and 9 ended unchanged.

Shares in Atacocha (LM:ATB) rose to 3-years highs; up 7.07% or 0.029 to 0.439.

Crude oil for November delivery was up 0.18% or 0.09 to $50.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.66% or 0.37 to hit $56.80 a barrel, while the December Gold Futures contract rose 0.51% or 6.65 to trade at $1301.45 a troy ounce.

USD/PEN was down 0.05% to 3.2470, while EUR/PEN rose 0.06% to 3.8796.

The US Dollar Index Futures was down 0.02% at 91.95.

Dow Posts Weekly Gain, Shrugs off Geopolitical Uncertainty

Investing.com – U.S. stocks closed mostly unchanged on Friday amid escalating U.S.-N.Korea tensions after President Donald Trump and North Korean leader Kim Jong un traded insults amid expectations that Pyongyang is preparing to test a nuclear bomb.

The Dow Jones Industrial Average closed higher at 22349.59. The S&P 500 closed 0.06% higher while the Nasdaq Composite closed at 6426.92, down 0.46%.

Investors had to content with renewed political uncertainty as President Donald Trump reacted to Kim Jong-un’s earlier insult calling Trump a "mentally deranged U.S. dotard" and hinting that Pyongyang was preparing to test a hydrogen bomb over the Pacific Ocean.

Some analysts were quick to downplay the latest act of provocation from the Kim Jong-un led nation, insisting that markets will shrug off geopolitical uncertainty as the threat of military action is somewhat improbable.

“As long as there is no military action from the either side, markets will continue to ignore the threats from North Korea,” said Wouter Sturkenboom, senior investment strategist at Russell Investments.

The uptick in safe-haven demand weighed on sentiment but losses were limited by a surge in energy, one of the best performing sectors of the session, as crude futures notched a third weekly win on Friday.

On the corporate front, shares of Apple Inc (NASDAQ:AAPL) dropped for the third straight day, suffering its worst week in more than year as the tech giant struggles to shake off recent criticism of its latest smartwatch the Apple Watch 3.

'Bulls and Bears' on Wall Street

The top Dow gainers for the session: Cisco Systems Inc (NASDAQ:CSCO) up 2%, Verizon Communications Inc (NYSE:VZ) up 2% and Chevron Corporation (NYSE:CVX) up 0.7%

UnitedHealth Group Incorporated (NYSE:UNH) down 1.1%, Apple Inc (NASDAQ:AAPL) down 1% and Merck & Company Inc (NYSE:MRK) down 0.7%, were among the worst Dow performers of the session.

Brazil stocks lower at close of trade; Bovespa down 0.28%

Investing.com – Brazil stocks were lower after the close on Friday, as losses in the Basic Materials, Real Estate and Industrials sectors led shares lower.

At the close in Sao Paulo, the Bovespa lost 0.28%.

The best performers of the session on the Bovespa were RUMO Logistica Operadora Multimodal SA (SA:RAIL3), which rose 4.33% or 0.45 points to trade at 10.84 at the close. Meanwhile, Estacio Participacoes SA (SA:ESTC3) added 2.25% or 0.67 points to end at 30.40 and Cia de Saneamento Basico do Estado (SA:SBSP3) was up 2.15% or 0.72 points to 34.23 in late trade.

The worst performers of the session were Cia Siderurgica Nacional SA (SA:CSNA3), which fell 5.08% or 0.52 points to trade at 9.72 at the close. Cosan SA Industria e Comercio (SA:CSAN3) declined 2.85% or 1.11 points to end at 37.80 and CEMIG - Companhia Energetica Minas Gerais Pref (SA:CMIG4) was down 2.80% or 0.25 points to 8.67.

Falling stocks outnumbered advancing ones on the Sao Paulo Stock Exchange by 202 to 200 and 31 ended unchanged.

Shares in Estacio Participacoes SA (SA:ESTC3) rose to all time highs; up 2.25% or 0.67 to 30.40.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 0.62% to 28.69.

Gold Futures for December delivery was up 0.45% or 5.87 to $1300.67 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.18% or 0.09 to hit $50.64 a barrel, while the December US coffee C contract fell 0.52% or 0.70 to trade at $134.57 .

USD/BRL was down 0.33% to 3.1273, while EUR/BRL fell 0.32% to 3.7371.

The US Dollar Index Futures was down 0.04% at 91.93.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.04%

Investing.com – U.S. stocks were mixed after the close on Friday, as gains in the Telecoms, Oil&Gas and Industrials sectors led shares higher while losses in the Utilities, Basic Materials and Consumer Goods sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.04%, while the S&P 500 index gained 0.06%, and the NASDAQ Composite index added 0.07%.

The best performers of the session on the Dow Jones Industrial Average were Cisco Systems Inc (NASDAQ:CSCO), which rose 2.05% or 0.67 points to trade at 33.37 at the close. Meanwhile, Verizon Communications Inc (NYSE:VZ) added 1.96% or 0.96 points to end at 49.90 and Chevron Corporation (NYSE:CVX) was up 0.70% or 0.82 points to 117.29 in late trade.

The worst performers of the session were UnitedHealth Group Incorporated (NYSE:UNH), which fell 1.12% or 2.18 points to trade at 193.03 at the close. Apple Inc (NASDAQ:AAPL) declined 0.98% or 1.50 points to end at 151.89 and Merck&Company Inc (NYSE:MRK) was down 0.72% or 0.47 points to 65.13.

The top performers on the S&P 500 were CarMax Inc (NYSE:KMX) which rose 7.77% to 74.19, L Brands Inc (NYSE:LB) which was up 7.51% to settle at 39.65 and Equifax Inc (NYSE:EFX) which gained 6.91% to close at 105.04.

The worst performers were DaVita HealthCare Partners Inc (NYSE:DVA) which was down 6.15% to 57.49 in late trade, Incyte Corporation (NASDAQ:INCY) which lost 3.65% to settle at 110.85 and Scana Corporation (NYSE:SCG) which was down 3.43% to 55.22 at the close.

The top performers on the NASDAQ Composite were Ocean Rig UDW Inc (NASDAQ:ORIG) which rose 1000.00% to 24.0000, Izea Inc (NASDAQ:IZEA) which was up 61.62% to settle at 3.2000 and Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) which gained 53.07% to close at 34.1800.

The worst performers were Versartis Inc (NASDAQ:VSAR) which was down 87.62% to 2.67 in late trade, FalconStor Software Inc (NASDAQ:FALC) which lost 23.33% to settle at 0.345 and Arts-Way Manufacturing Co Inc (NASDAQ:ARTW) which was down 18.52% to 2.200 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1985 to 1104 and 133 ended unchanged; on the Nasdaq Stock Exchange, 1649 rose and 835 declined, while 143 ended unchanged.

Shares in CarMax Inc (NYSE:KMX) rose to 52-week highs; gaining 7.77% or 5.35 to 74.19. Shares in Scana Corporation (NYSE:SCG) fell to 52-week lows; losing 3.43% or 1.96 to 55.22. Shares in Ocean Rig UDW Inc (NASDAQ:ORIG) rose to all time highs; up 1000.00% or 23.9250 to 24.0000. Shares in Versartis Inc (NASDAQ:VSAR) fell to all time lows; losing 87.62% or 18.92 to 2.67. Shares in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) rose to 52-week highs; up 53.07% or 11.8500 to 34.1800.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 1.34% to 9.54.

Gold Futures for December delivery was up 0.44% or 5.75 to $1300.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 0.22% or 0.11 to hit $50.66 a barrel, while the November Brent oil contract rose 0.62% or 0.35 to trade at $56.78 a barrel.

EUR/USD was up 0.03% to 1.1946, while USD/JPY fell 0.36% to 112.07.

The US Dollar Index Futures was down 0.02% at 91.95.

Bitcoin Falls as JP Morgan's Dimon Issues Fresh Warning on Bitcoin

Investing.com – Bitcoin fell on Friday erasing earlier gains as J.P. Morgan Chief Executive Jamie Dimon warned that governments will “close down” bitcoin and cryptocurrencies if they grow too large.

On the U.S.-based Bitfinex exchange, bitcoin fell to $3,575.5, down $28.4, or 0.79%. The slump in Bitcoin took its market cap below $60bn.

More than a week after Dimon sent shockwaves through the cryptocurrency space, warning that Bitcoin is a “fraud” and will “blow up”, the JP Morgan boss warned that governments will eventually crack down on cryptocurrencies to gain a measure of control.

"Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down," Dimon said during an interview with CNBC-TV18 in New Delhi on Friday.

Proponents of the popular digital currency, however, often downplay the negative impact of government intervention in Bitcoin as the decentralized nature of blockchain – the software supporting the digital currency – has made it difficult for governments to form a clear consensus on how to regulate the digital currency.

Jamie, however, offered an alternative scenario suggesting that governments could attempt to curb the growth of bitcoin by threatening anyone who buys or sells bitcoin with imprisonment.

Bitcoin Cash fell 2.12% to $407 while Ethereum gained 5.60% to $2558.63.

Commodities - Gold Finds Support as U.S.-N.Korea Tensions Escalate

Investing.com – Gold prices rose on Friday amid an uptick in safe-haven demand as North Korean leader Kim Jong Un vowed to make a "mentally deranged" Trump pay dearly for an earlier threat to “totally destroy” North Korea if threatened.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose by $5.95, or 0.46%, to $1,300.75 a troy ounce.

U.S. – North Korea relations further strained on Friday, fueling demand for safe-haven gold after North Korea said it might test a hydrogen bomb over the Pacific Ocean.

The prospect of North Korea carrying out yet another act of provocation comes amid Kim Jong Un’s brazen pledge to make a "mentally deranged" Trump pay dearly for an earlier threat to “totally destroy” North Korea if it threatened America or its allies.

The uptick in safe-haven demand, however, is unlikely to rescue the pressure metal from a second-straight weekly loss, following a surge in expectations for a year-end Federal Reserve rate hike.

The Federal Reserve indicated that its members’ rate-hike outlook saw rates rising to between 1.25% and 1.5% by the end of the 2017. With rates steady at 1-1.25%, that points to one further rate hike this year.

According to investing.com’s fed rate monitor tool more than 70% of traders expect the Federal Reserve to hike rates in December.

Gold is sensitive to moves higher in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

In other precious metal trade, silver futures gained 0.12% to $17.04 a troy ounce while platinum futures lost 0.62% to $934.10.

Copper traded at $2.94, up 0.29% while natural gas rose by 0.31% to $2.96.

Commodities - Crude Oil Prices Settle Higher for third straight week

Investing.com – Crude oil prices settled higher on Friday as investors shrugged off the outcome of an Opec-led meeting in which oil producers failed to reach a decision to extend the production-cut agreement.

On the New York Mercantile Exchange crude futures for November delivery rose 11 cents to settle at $50.66 a barrel, while on London's Intercontinental Exchange, Brent gained 27 cents to trade at $56.70 a barrel.

As was widely expected, members of the Organization of the Petroleum Exporting Countries (Opec) and other major producers failed to reach a decision to extend output cuts beyond March 2018.

Russia’s energy minister suggested that January is the earliest date that an extension to the global accord can be considered, as it allows ample time to assess the state of the market.

"I believe that January is the earliest date when we can actually, credibly speak about the state of the market," Russian Energy Minister Alexander Novak said. Other ministers suggested a decision could come this year.

In May, Opec and non-Opec members agreed to extend production cuts of 1.8m barrels per day for a period of nine months until March 2018 but rising production from the U.S., Nigeria and Libya has undermined the oil cartel’s efforts to curb excess supply.

The committee issued a bullish outlook on compliance, however, highlighting that oil producing nations participating in the global accord to cut output reached record monthly compliance. Opec and non-opec compliance with the deal to curb output rose to 116% in August, the committee said, a strong increase from the 94% compliance achieved a month ago.

In the U.S., market participants mulled over data showing the number of U.S. oil rigs continued to decline suggesting a possible tightening in domestic production.

Oilfield services firm Baker Hughes said its weekly count of oil rigs operating in the United States declined by 5 to 744.

The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand.

Portugal stocks higher at close of trade; PSI 20 up 0.08%

Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Industrials, Financials and Consumer Services sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.08% to hit a new 1-month high.

The best performers of the session on the PSI 20 were Galp Energia Nom (LS:GALP), which rose 2.51% or 0.3650 points to trade at 14.9000 at the close. Meanwhile, Mota Engil (LS:MOTA) added 1.61% or 0.0470 points to end at 2.9730 and Ibersol SGPS (LS:IBS) was up 1.45% or 0.185 points to 12.985 in late trade.

The worst performers of the session were CTT Correios de Portugal SA (LS:CTT), which fell 0.90% or 0.0460 points to trade at 5.0500 at the close. EDP (LS:EDP) declined 0.87% or 0.0280 points to end at 3.1970 and The Navigator Company SA (LS:NVGR) was down 0.77% or 0.0310 points to 4.0170.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 18 to 16 and 9 ended unchanged.

Shares in Galp Energia Nom (LS:GALP) rose to 5-year highs; gaining 2.51% or 0.3650 to 14.9000. Shares in Mota Engil (LS:MOTA) rose to 52-week highs; up 1.61% or 0.0470 to 2.9730. Shares in Ibersol SGPS (LS:IBS) rose to all time highs; gaining 1.45% or 0.185 to 12.985.

Brent oil for November delivery was up 0.19% or 0.11 to $56.54 a barrel. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.28% or 0.14 to hit $50.41 a barrel, while the December Gold Futures contract rose 0.29% or 3.81 to trade at $1298.61 a troy ounce.

EUR/USD was up 0.05% to 1.1948, while EUR/GBP rose 0.51% to 0.8837.

The US Dollar Index Futures was down 0.02% at 91.95.

Finland stocks lower at close of trade; OMX Helsinki 25 down 0.25%

Investing.com – Finland stocks were lower after the close on Friday, as losses in the Utilities, Technology and Telecoms sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 lost 0.25%.

The best performers of the session on the OMX Helsinki 25 were Outokumpu Oyj (HE:OUT1V), which rose 1.71% or 0.1450 points to trade at 8.6350 at the close. Meanwhile, Nordea Bank AB FDR (HE:NDA1V) added 0.81% or 0.090 points to end at 11.180 and Tieto Oyj (HE:TIE1V) was up 0.81% or 0.21 points to 26.26 in late trade.

The worst performers of the session were Outotec Oyj (HE:OTE1V), which fell 2.30% or 0.155 points to trade at 6.575 at the close. Nokia Oyj (HE:NOKIA) declined 1.37% or 0.070 points to end at 5.050 and Cargotec Oyj (HE:CGCBV) was down 1.34% or 0.70 points to 51.45.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 77 to 57 and 19 ended unchanged.

Brent oil for November delivery was up 0.34% or 0.19 to $56.62 a barrel. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.12% or 0.06 to hit $50.49 a barrel, while the December Gold Futures contract rose 0.35% or 4.53 to trade at $1299.33 a troy ounce.

EUR/USD was up 0.08% to 1.1951, while EUR/GBP rose 0.53% to 0.8839.

The US Dollar Index Futures was down 0.05% at 91.92.

Italy stocks higher at close of trade; Investing.com Italy 40 up 0.27%

Investing.com – Italy stocks were higher after the close on Friday, as gains in the Healthcare, Technology and Oil&Gas sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 added 0.27% to hit a new 52-week high.

The best performers of the session on the Investing.com Italy 40 were Fiat Chrysler Automobiles NV (MI:FCHA), which rose 3.94% or 0.570 points to trade at 15.050 at the close. Meanwhile, Banca Popolare dell’Emilia Romagna (MI:EMII) added 2.09% or 0.098 points to end at 4.784 and Recordati (MI:RECI) was up 1.42% or 0.54 points to 38.46 in late trade.

The worst performers of the session were Yoox Net-A-Porter Group SpA (MI:YNAP), which fell 2.70% or 0.85 points to trade at 30.60 at the close. Buzzi Unicem (MI:BZU) declined 1.56% or 0.36 points to end at 22.77 and Snam (MI:SRG) was down 1.06% or 0.044 points to 4.116.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 185 to 174 and 21 ended unchanged.

Shares in Fiat Chrysler Automobiles NV (MI:FCHA) rose to all time highs; up 3.94% or 0.570 to 15.050. Shares in Recordati (MI:RECI) rose to all time highs; gaining 1.42% or 0.54 to 38.46.

Crude oil for November delivery was down 0.14% or 0.07 to $50.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.34% or 0.19 to hit $56.62 a barrel, while the December Gold Futures contract rose 0.34% or 4.39 to trade at $1299.19 a troy ounce.

EUR/USD was up 0.08% to 1.1951, while EUR/GBP rose 0.53% to 0.8839.

The US Dollar Index Futures was down 0.05% at 91.92.

Spain stocks higher at close of trade; IBEX 35 up 0.08%

Investing.com – Spain stocks were higher after the close on Friday, as gains in the Consumer Services, Financial Services&Real Estate and Building&Construction sectors led shares higher.

At the close in Madrid, the IBEX 35 rose 0.08%.

The best performers of the session on the IBEX 35 were Abertis Infr (MC:ABE), which rose 2.00% or 0.340 points to trade at 17.370 at the close. Meanwhile, Melia Hotels (MC:MEL) added 1.20% or 0.145 points to end at 12.190 and Mapfre (MC:MAP) was up 0.85% or 0.024 points to 2.843 in late trade.

The worst performers of the session were ArcelorMittal SA (MC:MTS), which fell 1.77% or 0.390 points to trade at 21.650 at the close. Tecnicas Reunidas (MC:TRE) declined 1.66% or 0.450 points to end at 26.650 and Siemens Gamesa Renewable Energy SA (MC:GAM) was down 1.60% or 0.180 points to 11.065.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 95 to 73 and 21 ended unchanged.

Shares in Abertis Infr (MC:ABE) rose to all time highs; rising 2.00% or 0.340 to 17.370. Shares in Tecnicas Reunidas (MC:TRE) fell to 52-week lows; losing 1.66% or 0.450 to 26.650.

Gold Futures for December delivery was up 0.33% or 4.31 to $1299.11 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.14% or 0.07 to hit $50.48 a barrel, while the November Brent oil contract rose 0.34% or 0.19 to trade at $56.62 a barrel.

EUR/USD was up 0.08% to 1.1951, while EUR/GBP rose 0.53% to 0.8839.

The US Dollar Index Futures was down 0.05% at 91.92.

Germany stocks mixed at close of trade; DAX down 0.06%

Investing.com – Germany stocks were mixed after the close on Friday, as gains in the Technology, Utilities and Telecoms sectors led shares higher while losses in the Food&Beverages, Financial Services and Industrials sectors led shares lower.

At the close in Frankfurt, the DAX fell 0.06% to hit a new 1-month high, while the MDAX index gained 0.14%, and the TecDAX index climbed 0.53%.

The best performers of the session on the DAX were Infineon Technologies AG NA O.N. (DE:IFXGn), which rose 1.29% or 0.265 points to trade at 20.885 at the close. Meanwhile, E.ON SE NA (DE:EONGn) added 1.24% or 0.114 points to end at 9.313 and Deutsche Lufthansa AG (DE:LHAG) was up 1.02% or 0.230 points to 22.875 in late trade.

The worst performers of the session were Deutsche Boerse AG (DE:DB1Gn), which fell 4.11% or 3.860 points to trade at 90.150 at the close. Linde AG O.N. (DE:LING) declined 1.11% or 1.85 points to end at 165.30 and Siemens AG Class N (DE:SIEGn) was down 0.77% or 0.90 points to 116.55.

The top performers on the MDAX were Wacker Chemie O.N. (DE:WCHG) which rose 2.96% to 116.55, Uniper SE (DE:UN01) which was up 2.57% to settle at 23.170 and Hella KGaA Hueck&Co (DE:HLE) which gained 1.52% to close at 53.51.

The worst performers were Suedzucker AG (DE:SZUG) which was down 2.69% to 18.480 in late trade, Osram Licht AG (F:OSRn) which lost 1.89% to settle at 68.259 and Deutsche Pfandbriefbank AG (DE:PBBG) which was down 1.34% to 12.16 at the close.

The top performers on the TecDAX were Siltronic AG (DE:WAFGn) which rose 6.02% to 102.850, Draegerwerk VZO O.N. (DE:DRWG_p) which was up 2.12% to settle at 90.210 and Morphosys AG O.N. (DE:MORG) which gained 1.95% to close at 71.000.

The worst performers were Slm Solution G (DE:AM3D) which was down 1.75% to 33.59 in late trade, S&T AG (F:SANT1) which lost 0.81% to settle at 18.401 and CompuGroup Medical AG O.N. (DE:COPMa) which was down 0.73% to 47.200 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 385 to 366 and 36 ended unchanged.

Shares in Infineon Technologies AG NA O.N. (DE:IFXGn) rose to all time highs; up 1.29% or 0.265 to 20.885. Shares in Wacker Chemie O.N. (DE:WCHG) rose to 5-year highs; up 2.96% or 3.35 to 116.55. Shares in Uniper SE (DE:UN01) rose to all time highs; gaining 2.57% or 0.580 to 23.170. Shares in Hella KGaA Hueck&Co (DE:HLE) rose to all time highs; gaining 1.52% or 0.80 to 53.51. Shares in Siltronic AG (DE:WAFGn) rose to all time highs; rising 6.02% or 5.840 to 102.850. Shares in Morphosys AG O.N. (DE:MORG) rose to 52-week highs; gaining 1.95% or 1.360 to 71.000.

The DAX volatility index, which measures the implied volatility of DAX options, was up 5.41% to 12.20.

Gold Futures for December delivery was up 0.36% or 4.65 to $1299.45 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.08% or 0.04 to hit $50.51 a barrel, while the November Brent oil contract rose 0.35% or 0.20 to trade at $56.63 a barrel.

EUR/USD was up 0.13% to 1.1957, while EUR/GBP rose 0.56% to 0.8841.

The US Dollar Index Futures was down 0.09% at 91.89.

Poland stocks higher at close of trade; WIG30 up 0.34%

Investing.com – Poland stocks were higher after the close on Friday, as gains in the Telecoms, Information Technology and Banking sectors led shares higher.

At the close in Warsaw, the WIG30 rose 0.34%.

The best performers of the session on the WIG30 were Eurocash SA (WA:EUR), which rose 3.80% or 1.41 points to trade at 38.50 at the close. Meanwhile, Powszechny Zaklad Ubezpieczen SA (WA:PZU) added 2.67% or 1.25 points to end at 48.13 and Cyfrowy Polsat SA (WA:CPS) was up 2.26% or 0.58 points to 26.20 in late trade.

The worst performers of the session were Kruk SA (WA:KRU), which fell 6.19% or 18.60 points to trade at 282.00 at the close. Jastrzebska Spotka Weglowa SA (WA:JSW) declined 4.26% or 4.20 points to end at 94.40 and Tauron Polska Energia SA (WA:TPE) was down 3.39% or 0.130 points to 3.700.

Rising stocks outnumbered declining ones on the Warsaw Stock Exchange by 250 to 227 and 197 ended unchanged.

Crude oil for November delivery was down 0.14% or 0.07 to $50.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.34% or 0.19 to hit $56.62 a barrel, while the December Gold Futures contract rose 0.36% or 4.61 to trade at $1299.41 a troy ounce.

EUR/PLN was down 0.17% to 4.2694, while USD/PLN fell 0.27% to 3.5717.

The US Dollar Index Futures was down 0.07% at 91.91.

Norway stocks higher at close of trade; Oslo OBX up 0.09%

Investing.com – Norway stocks were higher after the close on Friday, as gains in the Utilities, Media and Commercial Service And Supplies sectors led shares higher.

At the close in Oslo, the Oslo OBX added 0.09% to hit a new all time high.

The best performers of the session on the Oslo OBX were Petroleum Geo - Services ASA (OL:PGS), which rose 5.52% or 0.99 points to trade at 18.91 at the close. Meanwhile, Grieg Seafood (OL:GSFO) added 3.34% or 2.55 points to end at 78.85 and BW LPG Ltd (OL:BWLPG) was up 3.00% or 0.99 points to 34.00 in late trade.

The worst performers of the session were Norsk Hydro ASA (OL:NHY), which fell 2.20% or 1.30 points to trade at 57.80 at the close. DNO International ASA (OL:DNO) declined 2.08% or 0.24 points to end at 11.32 and Nordic Nanovector ASA (OL:NANOV) was down 1.68% or 1.40 points to 82.10.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 108 to 63 and 31 ended unchanged.

Crude oil for November delivery was down 0.06% or 0.03 to $50.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.34% or 0.19 to hit $56.62 a barrel, while the December Gold Futures contract rose 0.38% or 4.92 to trade at $1299.72 a troy ounce.

EUR/NOK was down 0.01% to 9.3177, while USD/NOK fell 0.15% to 7.7882.

The US Dollar Index Futures was down 0.14% at 91.84.

U.S. Business Activity Remains Strong in September - Markit

Investing.com – Business activity in the U.S. private sector slipped in September, but remained close to a seven-month peak, according to preliminary data released on Wednesday.

In a report, market research group IHS Markit said that its composite purchasing managers’ index (PMI), covering both the manufacturing and services sectors, dropped to 54.6 in September, from the prior reading of 55.3.

On the indices, a reading above 50.0 indicates expansion, below indicates contraction.

The research group also said that its flash services purchasing managers’ index (PMI) fell to 55.1 in September, from the prior month’s reading of 56.0. That was a two-month low.

Analysts had expected the reading to slip only to 55.9.

Services make up approximately 80% of the U.S. economy which makes the data key for interpreting growth.

IHS Markit also said that its flash manufacturing purchasing managers’ index (PMI) inched up to 53.0 in September from the prior month’s final reading of 52.8.

That was a two-month high and in line with forecasts.

IHS Markit chief economist Chris Williamson said that the report revealed that the U.S. economy maintained “encouraging resilience in a month of hurricane disruption” and that the rate of expansion remained robust.

“Historical comparisons of the PMI with GDP indicate that the surveys point to the economy growing at an annualized rate of just over 2% in the third quarter,” he added.

Williamson noted that the biggest impact of Hurricane Harvey was evident in manufacturing supply chains, where resultant supply shortages were a key driver of higher prices.

“Supply delays were the most widespread in two and a half years, while input price inflation rose to the highest since 2012,” this economist pointed out.

"While repair work in the aftermath of Hurricane Harvey may boost short-term business activity in coming months, a drop in business optimism about the year ahead suggests that companies have become less confident in the longer-term outlook," Williamson concluded.

After the report, EUR/USD was trading at 1.1965 from around 1.1962 ahead of the release of the data, GBP/USD was at 1.3510 from 1.3544 earlier, while USD/JPY traded at 111.94 compared to 112.02 before the release.

The US dollar index, which tracks the greenback against a basket of six major rivals, traded at 91.83 compared to 91.84 before the report.

Meanwhile, U.S. stocks were trading lower after the open. The Dow 30 dipped 8 points or 0.04%, the S&P 500 lost 2 points, or 0.07%, while the tech-heavy Nasdaq Composite gave up 3 points or 0.05%.

Elsewhere, in the commodities market, gold futures traded at $1,299.54 a troy ounce, compared to $1,298.97 ahead of the data, while U.S. crude oil changed hands at $50.55, compared to $50.44 earlier.

USD/CAD Trims Losses after Mostly Disappointing Canadian Data

Investing.com - The U.S. dollar trimmed losses against its Canadian counterpart on Friday, after mostly disappointing Canadian data dampened demand for the local currency's gains, although sentiment on the greenback remained fragile amid fresh tensions between the U.S. and North Korea.

USD/CAD was down 0.11% at 1.2314 by 09:30 a.m. ET (13:30 GMT).

Market sentiment was hit after North Korean leader Kim Jong Un said on Friday that Pyongyang will consider the "highest level of hard-line countermeasure in history" against the U.S. in response to President Donald Trump's threat to destroy the country.

Shortly after, North Korea's Foreign Minister Ri Yong Ho said his country could conduct a hydrogen bomb test in the Pacific Ocean of an unprecedented scale.

In his first speech before the United Nations General Assembly on Tuesday, Trump said "the United States has great strength and patience, but if it is forced to defend itself and its allies, we will have no choice but to totally destroy North Korea."

In Canada, data on Friday showed that inflation rose less-than-expected last month by only 0.1%, while core inflation was unchanged.

A separate report showed that retail sales showed a larger-than-expected increase in August, but the core reading was weaker than forecast.

The loonie was lower against the euro, with EUR/CAD up 0.10% at 1.4732.

Canadian inflation rises less than forecast in August

Investing.com – Canadian inflation rose less than forecast in August, according to official data released on Friday.

According to the report from Statistics Canada, consumer price index (CPI) for August increased 0.1% from the previous month, missing forecasts for a 0.2% gain and after a flat reading in July.

Year-on-year, CPI advanced 1.4% last month, lower than expectations for a 1.5% rise and compared to an increase of 1.2% in July.

Core inflation, which excludes food and energy, was unchanged in August, compared to the previous month’s 0.1% decline.

Year-on-year, core CPI advanced 0.9% in August, in line with the prior month’s reading.

The Bank of Canada’s next monetary policy announcement is scheduled for Wednesday, October 25.

After the report, which was released simultaneously with Canadian retail sales, USD/CAD traded at 1.2303, compared to 1.2261 prior to the release.

Dollar Still on the Downside as Caution Dominates

Investing.com - The dollar remained lower against other major currencies on Friday, as concerns over fresh tensions between the U.S. and North Korea continued to weigh on market sentiment.

The dollar had strengthened broadly after the Fed on Wednesday indicated that one more interest rate hike is likely this year and said it will begin to unwind its $4.5 trillion balance sheet in October.

But market sentiment was hit after North Korean leader Kim Jong Un said on Friday that Pyongyang will consider the "highest level of hard-line countermeasure in history" against the U.S. in response to President Donald Trump's threat to destroy the country.

Shortly after, North Korea's Foreign Minister Ri Yong Ho said his country could conduct a hydrogen bomb test in the Pacific Ocean of an unprecedented scale.

In his first speech before the United Nations General Assembly on Tuesday, Trump said "the United States has great strength and patience, but if it is forced to defend itself and its allies, we will have no choice but to totally destroy North Korea."

The safe-haven yen and Swiss franc were higher, with USD/JPY sliding 0.41% to 112.01, just off the previous session's two-month peak of 112.72, while USD/CHF fell 0.21% to trade at 0.9687.

Elsewhere, EUR/USD gained 0.20% to trade at 1.1965, while GBP/USD edged down 0.10% to 1.3569, off Monday's 15-month highs of 1.3620.

The euro was boosted by data released earlier Friday by research group Markit showing that manufacturing and service sector activity in the euro zone expanded more than expected this month.

Market participants were looking ahead to a speech by UK Prime Minister Theresa May, scheduled later in the day.

Reports earlier in the week suggested that the UK would be ready to pay €20 billion for a two-year transition period after Brexit.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.47% at 0.7968 and with NZD/USD adding 0.22% to 0.7323.

Meanwhile, USD/CAD declined 0.44% to 1.2273.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.22% at 91.77 by 08:10 a.m. ET (12:10 GMT), off Thursday's one-week highs of 92.42.

Stocks - U.S. Futures Slip on North Korea Fears

Investing.com - Wall Street futures pointed to a slightly lower open as tensions over North Korea resurfaced on Friday.

The blue-chip Dow futures slipped 10 points, or 0.04% by 6:57AM ET (10:57GMT), the S&P 500 futures dropped 2 points, or 0.09%, while the tech-heavy Nasdaq 100 futures fell 10 points, or 0.17%.

North Korea said on Friday it might test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump vowed to destroy the reclusive country, with leader Kim Jong Un promising to make a "mentally deranged" Trump pay dearly for his threats.

The response came after Trump said in his first address to the United Nations on Tuesday that he would "totally destroy" North Korea, a country of 26 million people, if it threatened the United States and its allies, and called Kim a "rocket man" on a suicide mission.

Asian stock markets retreated in risk off trade on Friday, although European bourses managed to pull out of negative territory in early afternoon trading.

Stateside, market participants looked ahead to IHS Markit’s preliminary reading on business activity for both the manufacturing and services sector scheduled for release at 9:45AM ET (13:45GMT) Friday.

Markets will pay attention to a string of appearances from Federal Reserve officials, including San Francisco Fed president, John Williams, Fed Governor Esther George and Dallas Fed chief Robert Kaplan.

In company news, General Electric (NYSE:GE) is close to a deal to sell its industrial solutions unit to ABB for somewhere between $2.5 billion and $3 billion, according to sources cited by Bloomberg.

Meanwhile, oil prices edged higher on Friday as market participants waited to see if major oil producers would make any announcements about a possible extension of supply cuts beyond March 2018 after their meeting in Vienna.

Traders also looked ahead to the latest read on U.S. shale production when Baker Hughes releases its most recent weekly rig count data later on Friday.

U.S. crude futures gained 0.12% to $50.61 by 6:58AM ET (10:58GMT), while Brent oil traded up 0.16% to $56.52.

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