Peru stocks lower at close of trade; S&P Lima General down 0.16%

Investing.com – Peru stocks were lower after the close on Friday, as losses in the Food&Beverages, Industrials and S&P Lima Juniors sectors led shares lower.

At the close in Lima, the S&P Lima General declined 0.16% to hit a new 3-months low.

The best performers of the session on the S&P Lima General were Sociedad Minera el Brocal SAA (LM:BRO), which rose 5.88% or 0.500 points to trade at 9.000 at the close. Meanwhile, Bco Continenta (LM:CON) added 1.67% or 0.070 points to end at 4.270 and Alicorp (LM:ALI) was up 1.47% or 0.170 points to 11.730 in late trade.

The worst performers of the session were Empresa Agroindustrial Pomalca (LM:POM), which fell 14.62% or 0.019 points to trade at 0.111 at the close. Candente Copper (LM:DNT) declined 7.94% or 0.0050 points to end at 0.0580 and Backus Johnsto (LM:BKJi) was down 6.52% or 1.500 points to 21.500.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 21 to 8 and 11 ended unchanged.

Shares in Empresa Agroindustrial Pomalca (LM:POM) fell to 5-year lows; falling 14.62% or 0.019 to 0.111.

Crude oil for August delivery was up 5.66% or 3.71 to $69.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 3.78% or 2.76 to hit $75.81 a barrel, while the August Gold Futures contract rose 0.05% or 0.60 to trade at $1271.10 a troy ounce.

USD/PEN was down 0.31% to 3.2680, while EUR/PEN rose 0.03% to 3.8066.

The US Dollar Index Futures was down 0.37% at 94.19.

CFTC - Commitments of Traders: Speculators Significantly Less Bullish on Euro

Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending June 19 on Friday.


Speculative positioning in the CME and ICE currency, commodity, energy and index futures:

LongShort
NetPriorChangeGrossChangeGrossChange
EUR36.1k88.2k-52.1k190.7k-45.9k154.6k6.2k
GBP-19.2k11.0k-30.2k46.9k-22.4k66.1k7.8k
JPY-35.6k5.1k-40.6k46.6k-14.0k82.1k26.6k
CHF-32.0k-37.2k5.3k18.8k5.8k50.8k0.5k
CAD-14.0k-15.0k1.0k45.7k15.6k59.8k14.6k
AUD-43.1k-15.2k-27.9k32.2k-13.1k75.3k14.8k
NZD-15.9k7.0k-22.9k14.7k-20.2k30.6k2.8k
MXN-11.3k-21.7k10.4k60.3k-4.6k71.6k-15.0k
S&P 500189.2k169.4k19.8k526.5k-4.8k337.3k-24.6k
Gold96.5k120.2k-23.7k202.9k10.2k106.4k33.9k
Silver40.9k49.7k-8.8k95.3k-5.8k54.4k3.0k
Copper56.3k70.5k-14.2k119.0k-9.5k62.7k4.8k
RUB9.8k12.1k-2.3k10.4k-2.5k0.6k-0.2k
Crude Oil580.9k595.3k-14.3k694.4k-25.9k113.5k-11.6k


Mexico stocks higher at close of trade; S&P/BMV IPC up 0.60%

Investing.com – Mexico stocks were higher after the close on Friday, as gains in the Telecoms Services, Healthcare and Consumer Staples sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC rose 0.60%.

The best performers of the session on the S&P/BMV IPC were Infraestructura Energetica Nova SAB (MX:IENOVA), which rose 3.88% or 3.23 points to trade at 86.51 at the close. Meanwhile, Alsea , S.A.B. De C.V. (MX:ALSEA) added 3.52% or 2.240 points to end at 65.920 and Grupo Carso, S.A.B. De C.V. (MX:GCARSOA1) was up 2.88% or 1.790 points to 64.000 in late trade.

The worst performers of the session were Industrias Penoles Sab De CV (MX:PENOLES), which fell 1.94% or 6.62 points to trade at 334.78 at the close. El Puerto De Liverpool Sab De CV (MX:LIVEPOLC1) declined 1.62% or 1.95 points to end at 118.15 and PINFRA SAB De CV (MX:PINFRA) was down 0.98% or 1.76 points to 178.21.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 190 to 141 and 11 ended unchanged.

Gold Futures for August delivery was up 0.09% or 1.10 to $1271.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 5.80% or 3.80 to hit $69.34 a barrel, while the August Brent oil contract rose 3.55% or 2.59 to trade at $75.64 a barrel.

USD/MXN was down 1.53% to 20.0147, while EUR/MXN fell 1.06% to 23.3348.

The US Dollar Index Futures was down 0.37% at 94.19.

Canada stocks higher at close of trade; S&P/TSX Composite up 0.04%

Investing.com – Canada stocks were higher after the close on Friday, as gains in the Energy, Materials and Telecoms sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.04%.

The best performers of the session on the S&P/TSX Composite were Whitecap Resources Inc . (TO:WCP), which rose 7.90% or 0.64 points to trade at 8.74 at the close. Meanwhile, Cenovus Energy Inc (TO:CVE) added 7.76% or 0.95 points to end at 13.19 and NuVista Energy Ltd . (TO:NVA) was up 6.42% or 0.570 points to 9.450 in late trade.

The worst performers of the session were BlackBerry Ltd (TO:BB), which fell 9.29% or 1.45 points to trade at 14.16 at the close. Canopy Growth Corp (TO:WEED) declined 8.96% or 4.280 points to end at 43.500 and Canada Goose Holdings Inc (TO:GOOS) was down 7.40% or 6.12 points to 76.61.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 700 to 400 and 130 ended unchanged.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 5.16% to 11.76.

Gold Futures for August delivery was up 0.09% or 1.20 to $1271.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 5.86% or 3.84 to hit $69.38 a barrel, while the August Brent oil contract rose 3.68% or 2.69 to trade at $75.74 a barrel.

CAD/USD was up 0.35% to 0.7534, while CAD/EUR fell 0.17% to 0.6460.

The US Dollar Index Futures was down 0.37% at 94.19.

Brazil stocks higher at close of trade; Bovespa up 0.91%

Investing.com – Brazil stocks were higher after the close on Friday, as gains in the Basic Materials, Financials and Electric Power sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.91%.

The best performers of the session on the Bovespa were EDP - Energias do Brasil SA (SA:ENBR3), which rose 4.46% or 0.60 points to trade at 14.05 at the close. Meanwhile, Centrais Eletricas Brasileiras SA (SA:ELET3) added 3.96% or 0.49 points to end at 12.87 and Smiles Fidelidade SA (SA:SMLS3) was up 3.52% or 1.65 points to 48.55 in late trade.

The worst performers of the session were Viavarejo Unt (SA:VVAR11), which fell 4.46% or 0.89 points to trade at 19.08 at the close. Gol Linhas Aereas Inteligentes SA Pref (SA:GOLL4) declined 3.98% or 0.46 points to end at 11.09 and Cielo SA (SA:CIEL3) was down 3.46% or 0.55 points to 15.33.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 237 to 171 and 34 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 4.26% to 34.59.

Gold Futures for August delivery was up 0.09% or 1.20 to $1271.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 5.83% or 3.82 to hit $69.36 a barrel, while the September US coffee C contract rose 0.70% or 0.81 to trade at $117.03 .

USD/BRL was up 0.31% to 3.7783, while EUR/BRL rose 0.79% to 4.4060.

The US Dollar Index Futures was down 0.37% at 94.19.

Morocco stocks higher at close of trade; Moroccan All Shares up 0.37%

Investing.com – Morocco stocks were higher after the close on Friday, as gains in the Banking, Holding Companies and Chemicals sectors led shares higher.

At the close in Casablanca, the Moroccan All Shares gained 0.37%.

The best performers of the session on the Moroccan All Shares were Maghreb Oxygene (CS:OXYG), which rose 3.77% or 6.00 points to trade at 165.00 at the close. Meanwhile, Bmce Bank (CS:BMCE) added 3.54% or 7.30 points to end at 213.50 and Eqdom (CS:EQDM) was up 3.45% or 40 points to 1199 in late trade.

The worst performers of the session were Atlanta (CS:ATL), which fell 7.77% or 5.90 points to trade at 70.00 at the close. Brasseries Du Maroc (CS:SBM) declined 5.98% or 183 points to end at 2877 and Afriquia Gaz (CS:AGAZ1) was down 5.85% or 175 points to 2815.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 20 to 14 and 11 ended unchanged.

Crude oil for August delivery was up 4.76% or 3.12 to $68.66 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 2.16% or 1.58 to hit $74.63 a barrel, while the August Gold Futures contract fell 0.02% or 0.20 to trade at $1270.30 a troy ounce.

EUR/MAD was up 0.13% to 11.0810, while USD/MAD fell 0.17% to 9.5203.

The US Dollar Index Futures was down 0.28% at 94.28.

Euro Rebound Looks Set to Spoil Dollar's Week

Investing.com – The U.S. dollar was on track to post a weekly loss against its rivals as mixed U.S. economic data weighed on sentiment and ongoing euro strength curbed upside momentum.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.25% to 94.30 after trading as high as 94.55 in the session.

Mixed U.S. economic data did little to encourage traders to return to the greenback, as a preliminary reading of services PMI for June topped expectations, while manufacturing PMI data fell short.

The euro continued its comeback against the dollar from an 11-month low seen Thursday, buoyed by composite eurozone purchasing managers index survey readings that topped economists' estimates.

The single currency had suffered a slight wobble before paring losses after U.S. President Donald Trump threatened a 20% tariff on all car imports from the EU. This comes less than a day after the EU's retaliatory tariffs on imported U.S. goods came into effect late Thursday.

EUR/USD climbed 0.37% to $1.1646.

USD/CAD held firm, rising 0.05% to C$1.3321, as Canadian inflation data underwhelmed, raising doubts about the prospect of a July rate hike.

Losses in the loonie were limited, however, by soaring oil prices after OPEC struck a deal to lift crude output.

GBP/USD, meanwhile, added to its recent gains, rising 0.20% to $1.3268 as the Bank of England's hawkish tilt Thursday continued to support the pair.

USD/JPY fell 0.05% to Y109.93 as safe-haven demand stoked a bid in the yen amid lingering trade tensions.

Portugal stocks higher at close of trade; PSI 20 up 1.90%

Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Basic Materials, Industrials and Telecoms sectors led shares higher.

At the close in Lisbon, the PSI 20 rose 1.90%.

The best performers of the session on the PSI 20 were The Navigator Company SA (LS:NVGR), which rose 5.36% or 0.2640 points to trade at 5.1900 at the close. Meanwhile, Altri SGPS (LS:ALSS) added 5.13% or 0.4200 points to end at 8.6100 and Mota Engil (LS:MOTA) was up 3.16% or 0.0900 points to 2.9400 in late trade.

The worst performers of the session were Corticeira Amorim (LS:CORA), which fell 0.70% or 0.080 points to trade at 11.280 at the close. Ibersol SGPS (LS:IBS) declined 0.41% or 0.050 points to end at 12.000 and REN (LS:RENE) was down 0.26% or 0.0060 points to 2.3420.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 24 to 7 and 7 ended unchanged.

Brent oil for August delivery was up 2.33% or 1.70 to $74.75 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.81% or 3.15 to hit $68.69 a barrel, while the August Gold Futures contract rose 0.04% or 0.50 to trade at $1271.00 a troy ounce.

EUR/USD was up 0.40% to 1.1649, while EUR/GBP rose 0.21% to 0.8781.

The US Dollar Index Futures was down 0.28% at 94.28.

Russia stocks higher at close of trade; MOEX Russia up 0.17%

Investing.com – Russia stocks were higher after the close on Friday, as gains in the Power, Mining and Manufacturing sectors led shares higher.

At the close in Moscow, the MOEX Russia gained 0.17%.

The best performers of the session on the MOEX Russia were Sberbank Rossii OAO Pref (MCX:SBER_p), which rose 2.72% or 5.07 points to trade at 191.50 at the close. Meanwhile, RusHydro JSC (MCX:HYDR) added 2.67% or 0.0179 points to end at 0.6892 and Safmar Finansovye Investitsii PAO (MCX:SFIN) was up 2.60% or 19.0 points to 750.0 in late trade.

The worst performers of the session were AFK Sistema (MCX:AFKS), which fell 8.66% or 0.835 points to trade at 8.805 at the close. PIK (MCX:PIKK) declined 5.18% or 17.40 points to end at 318.20 and SG mechel (MCX:MTLR) was down 3.16% or 3.25 points to 99.45.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 140 to 75 and 17 ended unchanged.

Shares in AFK Sistema (MCX:AFKS) fell to 3-years lows; losing 8.66% or 0.835 to 8.805. Shares in SG mechel (MCX:MTLR) fell to 52-week lows; falling 3.16% or 3.25 to 99.45.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 4.22% to 24.290.

Gold Futures for August delivery was up 0.02% or 0.20 to $1270.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.42% or 2.90 to hit $68.44 a barrel, while the August Brent oil contract rose 2.41% or 1.76 to trade at $74.81 a barrel.

USD/RUB was down 1.26% to 62.9050, while EUR/RUB fell 0.88% to 73.2800.

The US Dollar Index Futures was down 0.26% at 94.29.

Spain stocks higher at close of trade; IBEX 35 up 0.93%

Investing.com – Spain stocks were higher after the close on Friday, as gains in the Chemical, Petroleum&Plastic, Financial Services&Real Estate and Telecoms&IT sectors led shares higher.

At the close in Madrid, the IBEX 35 gained 0.93%.

The best performers of the session on the IBEX 35 were Bankia SA (MC:BKIA), which rose 3.33% or 0.108 points to trade at 3.350 at the close. Meanwhile, Repsol (MC:REP) added 2.77% or 0.450 points to end at 16.700 and Cellnex Telecom SA (MC:CLNX) was up 2.55% or 0.55 points to 22.12 in late trade.

The worst performers of the session were Cie Automotive (MC:CIEA), which fell 3.15% or 1.000 points to trade at 30.740 at the close. Ferrovial (MC:FER) declined 1.13% or 0.205 points to end at 17.960 and Distribuidora Intl de Aliment (MC:DIDA) was down 0.94% or 0.025 points to 2.646.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 131 to 51 and 24 ended unchanged.

Shares in Distribuidora Intl de Aliment (MC:DIDA) fell to 5-year lows; losing 0.94% or 0.025 to 2.646.

Gold Futures for August delivery was up 0.04% or 0.50 to $1271.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.59% or 3.01 to hit $68.55 a barrel, while the August Brent oil contract rose 2.53% or 1.85 to trade at $74.90 a barrel.

EUR/USD was up 0.41% to 1.1650, while EUR/GBP rose 0.21% to 0.8781.

The US Dollar Index Futures was down 0.28% at 94.28.

Netherlands stocks higher at close of trade; AEX up 1.40%

Investing.com – Netherlands stocks were higher after the close on Friday, as gains in the Oil&Gas, Industrials and Telecoms sectors led shares higher.

At the close in Amsterdam, the AEX rose 1.40%.

The best performers of the session on the AEX were Royal Dutch Shell PLC Class A (AS:RDSa), which rose 3.31% or 0.955 points to trade at 29.770 at the close. Meanwhile, Altice NV (AS:ATCA) added 3.04% or 0.10 points to end at 3.53 and Randstad Holding NV (AS:RAND) was up 2.62% or 1.36 points to 53.24 in late trade.

The worst performers of the session were Koninklijke Ahold Delhaize NV (AS:AD), which fell 0.58% or 0.120 points to trade at 20.445 at the close. Koninklijke Vopak NV (AS:VOPA) declined 0.30% or 0.12 points to end at 39.96 and Gemalto (AS:GTO) was down 0.28% or 0.14 points to 50.04.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 88 to 34 and 16 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was down 12.88% to 12.23.

Crude oil for August delivery was up 4.56% or 2.99 to $68.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 2.51% or 1.83 to hit $74.88 a barrel, while the August Gold Futures contract rose 0.04% or 0.50 to trade at $1271.00 a troy ounce.

EUR/USD was up 0.40% to 1.1649, while EUR/GBP rose 0.19% to 0.8780.

The US Dollar Index Futures was down 0.28% at 94.28.

Belgium stocks higher at close of trade; BEL 20 up 0.89%

Investing.com – Belgium stocks were higher after the close on Friday, as gains in the Telecoms, Consumer Goods and Financials sectors led shares higher.

At the close in Brussels, the BEL 20 rose 0.89%.

The best performers of the session on the BEL 20 were Telenet Group (BR:TNET), which rose 4.52% or 1.74 points to trade at 40.24 at the close. Meanwhile, Proximus NV (BR:PROX) added 1.75% or 0.36 points to end at 20.93 and Anheuser Busch Inbev SA NV (BR:ABI) was up 1.57% or 1.32 points to 85.21 in late trade.

The worst performers of the session were Argen-X (BR:ARGX), which fell 1.42% or 1.10 points to trade at 76.50 at the close. Etablissementen Fr Colruyt NV (BR:COLR) declined 0.21% or 0.10 points to end at 48.13 and Umicore SA (BR:UMI) was down 0.10% or 0.05 points to 49.34.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 81 to 35 and 13 ended unchanged.

Gold Futures for August delivery was up 0.02% or 0.20 to $1270.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.56% or 2.99 to hit $68.53 a barrel, while the August Brent oil contract rose 2.44% or 1.78 to trade at $74.83 a barrel.

EUR/USD was up 0.29% to 1.1637, while EUR/GBP rose 0.14% to 0.8775.

The US Dollar Index Futures was down 0.21% at 94.34.

Germany stocks higher at close of trade; DAX up 0.54%

Investing.com – Germany stocks were higher after the close on Friday, as gains in the Pharmaceuticals&Healthcare, Insurance and Retail sectors led shares higher.

At the close in Frankfurt, the DAX gained 0.54%, while the MDAX index gained 0.55%, and the TecDAX index added 0.01%.

The best performers of the session on the DAX were Bayer AG NA (DE:BAYGN), which rose 2.54% or 2.45 points to trade at 98.84 at the close. Meanwhile, Linde AG 1 (DE:LIN1) added 2.34% or 4.7000 points to end at 205.3000 and Muench. Rueckvers. VNA O.N. (DE:MUVGn) was up 1.87% or 3.30 points to 179.80 in late trade.

The worst performers of the session were Infineon Technologies AG NA O.N. (DE:IFXGn), which fell 2.45% or 0.580 points to trade at 23.110 at the close. Bayerische Motoren Werke AG (DE:BMWG) declined 1.12% or 0.910 points to end at 80.310 and Deutsche Boerse AG (DE:DB1Gn) was down 0.82% or 0.950 points to 114.350.

The top performers on the MDAX were Jungheinrich AG O.N.VZO (DE:JUNG_p) which rose 3.82% to 31.560, Rocket Internet (DE:RKET) which was up 2.36% to settle at 26.92 and MTU Aero Engines NA O.N. (DE:MTXGn) which gained 2.01% to close at 162.80.

The worst performers were Deutsche Pfandbriefbank AG (DE:PBBG) which was down 7.24% to 12.17 in late trade, Duerr AG (DE:DUEG) which lost 4.83% to settle at 43.150 and Salzgitter AG (DE:SZGG) which was down 3.23% to 39.840 at the close.

The top performers on the TecDAX were Isra Vision O.N. (DE:ISRG) which rose 5.74% to 53.40, Morphosys AG O.N. (DE:MORG) which was up 2.44% to settle at 104.900 and Evotec AG O.N. (DE:EVTG) which gained 2.05% to close at 15.165.

The worst performers were Siltronic AG (DE:WAFGn) which was down 3.07% to 127.750 in late trade, SMA Solar Technology AG (DE:S92G) which lost 2.17% to settle at 37.880 and Software AG (DE:SOWGn) which was down 2.11% to 40.300 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 393 to 327 and 62 ended unchanged.

Shares in Rocket Internet (DE:RKET) rose to 52-week highs; rising 2.36% or 0.62 to 26.92. Shares in Duerr AG (DE:DUEG) fell to 3-years lows; falling 4.83% or 2.190 to 43.150. Shares in Morphosys AG O.N. (DE:MORG) rose to all time highs; rising 2.44% or 2.500 to 104.900.

The DAX volatility index, which measures the implied volatility of DAX options, was down 9.72% to 15.82.

Gold Futures for August delivery was up 0.01% or 0.10 to $1270.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.56% or 2.99 to hit $68.53 a barrel, while the August Brent oil contract rose 2.45% or 1.79 to trade at $74.84 a barrel.

EUR/USD was up 0.29% to 1.1637, while EUR/GBP rose 0.14% to 0.8775.

The US Dollar Index Futures was down 0.20% at 94.35.

U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 1.71%

Investing.com – U.K. stocks were higher after the close on Friday, as gains in the Oil Equipment Services&Distribution, Oil&Gas Producers and Mining sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 gained 1.71%.

The best performers of the session on the Investing.com United Kingdom 100 were Glencore PLC (LON:GLEN), which rose 4.18% or 15.55 points to trade at 387.15 at the close. Meanwhile, Hikma Pharmaceuticals PLC (LON:HIK) added 3.92% or 54.00 points to end at 1430.00 and Royal Dutch Shell PLC B (LON:RDSb) was up 3.46% or 90.50 points to 2707.50 in late trade.

The worst performers of the session were Coca Cola HBC AG (LON:CCH), which fell 0.78% or 20.0 points to trade at 2535.0 at the close. Shire PLC (LON:SHP) declined 0.54% or 22.00 points to end at 4066.00 and AstraZeneca PLC (LON:AZN) was down 0.49% or 26.00 points to 5229.00.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1196 to 626 and 345 ended unchanged.

Gold Futures for August delivery was up 0.01% or 0.10 to $1270.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 4.61% or 3.02 to hit $68.56 a barrel, while the August Brent oil contract rose 2.51% or 1.83 to trade at $74.88 a barrel.

GBP/USD was up 0.16% to 1.3262, while EUR/GBP rose 0.14% to 0.8775.

The US Dollar Index Futures was down 0.21% at 94.34.

Norway stocks higher at close of trade; Oslo OBX up 1.23%

Investing.com – Norway stocks were higher after the close on Friday, as gains in the Energy, Diversified Financials and Software&Computer Services sectors led shares higher.

At the close in Oslo, the Oslo OBX rose 1.23%.

The best performers of the session on the Oslo OBX were Petroleum Geo - Services ASA (OL:PGS), which rose 6.50% or 2.25 points to trade at 36.89 at the close. Meanwhile, Aker Solutions OL (OL:AKSOL) added 5.86% or 3.12 points to end at 56.32 and Subsea 7 SA (OL:SUBC) was up 4.75% or 5.8 points to 126.7 in late trade.

The worst performers of the session were Norwegian Air Shuttle ASA (OL:NWC), which fell 1.75% or 4.80 points to trade at 269.20 at the close. REC Silicon ASA (OL:REC) declined 1.20% or 0.01 points to end at 0.98 and Yara International ASA (OL:YAR) was down 1.18% or 4.0 points to 337.4.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 115 to 71 and 16 ended unchanged.

Crude oil for August delivery was up 4.49% or 2.94 to $68.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 2.51% or 1.83 to hit $74.88 a barrel, while the August Gold Futures contract rose 0.01% or 0.10 to trade at $1270.60 a troy ounce.

EUR/NOK was up 0.12% to 9.4416, while USD/NOK fell 0.17% to 8.1134.

The US Dollar Index Futures was down 0.21% at 94.34.

Oil Prices Surge as OPEC Agrees to Modest Increase in Production

Investing.com - Oil prices jumped nearing midday trade on Friday, extending weekly gains, as the Organization of Petroleum Exporting Countries (OPEC) agreed to a modest increase in oil production.

New York-traded West Texas Intermediate crude futures gained $2.58, or about 4.0%, to $68.12 a barrel by 11:45AM ET (15:45GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up $1.57, or 2.2%, to $74.62

Friday’s gains lifted the weekly rise in West Texas to 4.7%, while Brent lagged with an increase of 1.6%.

In OPEC’s 174th official meeting on Friday, Saudi Arabia was able to convince Iran to agree to an output increase of about 1 million barrels per day (bpd), or 1% of global supply, despite Tehran’s initial opposition.

As OPEC explained in the joint press release, its members had exceeded the required level of conformity to the November 30, 2016 agreement to curb production by 1.2 million bpd.

Having reached 152% compliance in May 2018, OPEC agreed Friday to strive to drop that compliance to 100%.

The cartel noted that there were no specific allocations for individual members, as some countries that did not have spare capacity would be unable to increase output.

According to Nigerian oil minister Emmanuel Ibe Kachikwu, the end result of the production increase would amount to about 700,000 additional bpd, while Iraq’s energy minister Jabbar Alluaibi estimated that the real increase will be 770,000.

The 2016 agreement also included a pact with non-OPEC members led by Russia for a total production curb of 1.8 million bpd.

All 24 members of the OPEC and non-OPEC production group, including Russia, are scheduled to meet on Saturday, while the cartel itself has scheduled its next official meeting for December 3.

Later on Friday, attention will shift to U.S. production as Baker Hughes releases its weekly data on U.S. drilling activity. Last week, U.S. drillers added one oil rig, bringing the total count to 863, the highest number since March 2015.

In other energy trading, gasoline futures rose 1.9% to $2.0510 a gallon by 11:48AM ET (15:48GMT), while heating oil gained 2.0% to $2.1105 a gallon.

Lastly, natural gas futures traded down 1.4% to $2.933 per million British thermal units.

Forex- Euro Remains Higher, as Dollar Inches Down

Investing.com - The euro remained higher on Friday, as the U.S. dollar fell and trade concerns lingered.

EUR/USD rose 0.26% to 1.1633 as of 11:24 AM ET (15:24 GMT) after French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone.

The pound was also higher, with GBP/USD rising 0.20% to 1.3268.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.19% to 94.36.

Trade tensions between the U.S. and its allies continued, as the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, jeans, and whiskey in retaliation for U.S. President Donald Trump’s steel and aluminum tariffs.

Trump tweeted in response to the tariffs that if the EU did not remove the tariffs “we will be placing a 20% tariff on all their cars coming into the U.S.”

The tariffs have added to tensions as investors fear an outright global trade war between the U.S. and other major countries.

The greenback was also held back by a decline in the Philadelphia Federal Reserve’s manufacturing index on Thursday. The index fell to a one-and-a-half-year low, increasing concern about the strength of the U.S. economy.

The dollar was lower against the safe-haven yen, with USD/JPY decreasing 0.07% to 109.91. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

Elsewhere, the Australian dollar was higher, with AUD/USD up 0.65% at 0.7425, while NZD/USD rose 0.39% to 0.6894. The loonie was lower against the greenback, with USD/CAD up 0.14% to 1.3333.

Greece stocks lower at close of trade; Athens General Composite down 0.22%

Investing.com – Greece stocks were lower after the close on Friday, as losses in the Utilities, Food and Industrials sectors led shares lower.

At the close in Athens, the Athens General Composite declined 0.22%.

The best performers of the session on the Athens General Composite were Crete Plastics SA (AT:PLAKR), which rose 4.55% or 0.600 points to trade at 13.800 at the close. Meanwhile, Fourlis Hld (AT:FRLr) added 3.00% or 0.180 points to end at 6.190 and Hellenic Telec (AT:OTEr) was up 2.83% or 0.29 points to 10.54 in late trade.

The worst performers of the session were Public Power (AT:DEHr), which fell 6.28% or 0.13 points to trade at 1.94 at the close. Holding Company ADMIE IPTO SA (AT:ADMr) declined 4.96% or 0.09 points to end at 1.73 and Marfin Invest (AT:MRFr) was down 4.62% or 0.005 points to 0.112.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 65 to 45 and 19 ended unchanged.

Gold Futures for August delivery was up 0.06% or 0.70 to $1271.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 3.54% or 2.32 to hit $67.86 a barrel, while the August Brent oil contract rose 2.18% or 1.59 to trade at $74.64 a barrel.

EUR/USD was up 0.25% to 1.1632, while EUR/GBP rose 0.05% to 0.8767.

The US Dollar Index Futures was down 0.18% at 94.37.

Stocks- Dow Surges as OPEC Boosts Output

Investing.com – The Dow was higher on Friday as oil prices rose after Reuters reported that OPEC agreed to boost output while technology stocks fell.

The S&P 500 gained 11 points or 0.41% to 2,761.92 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased 144 points or 0.59% to 24,606.55 and tech heavy NASDAQ Composite fell over nine points or 0.13% to 7,703.28.

The Organization of the Petroleum Exporting Countries agreed on Friday to increase its production to a little less than one million barrels per day (bpd) or about 1% of global supply, according to OPEC sources, Reuters reported. Not all OPEC members are expected to participate. The U.S. had urged the organization to increase its supply to prevent an oil deficit.

Oil firm Exxon Mobil (NYSE:XOM) surged 2.05% after the morning bell, while Boeing (NYSE:BA) inched up 0.27% and General Electric (NYSE:GE) gained 1.06%. Meanwhile Apple (NASDAQ:AAPL) inched up 0.11% while Walt Disney Company (NYSE:DIS) rose 0.63% after it said it would divest more Fox assets to get the okay from regulators for its proposed merger.

Elsewhere BlackBerry Ltd (NYSE:BB) dipped 4.25% despite its fiscal report coming in higher than expected, while Tesla (NASDAQ:TSLA) fell 0.63% and Microsoft (NASDAQ:MSFT) lost 1.20%.

In Europe stocks were up. Germany’s DAX rose 26 points or 0.21% while in France the CAC 40 increased 49 points or 0.94% and in London, the FTSE 100 was up 101 points or 1.34%. Meanwhile the pan-European Euro Stoxx 50 gained 24 points or 0.71% while Spain’s IBEX 35 surged 55 points or 0.58%.

In commodities, gold futures fell 0.05% to $1,269.90 a troy ounce while crude oil futures surged 2.87% to $67.42 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was down 0.31% to 94.25.

Top Schools, Degrees For CEOs

Investing.com - You might think that business is the best degree for aspiring CEOs, but you are actually better off studying computer science or economics.

That's one of the conclusions of a LinkedIn (NYSE:LNKD) study of 12,000 of its users who have the title of CEO at companies with 50 or more employees.

It turns out, a business degree is the third most popular field of study for CEOS. Computer science is first by a wide margin. Economics is second.

And you don't have to go to Harvard Business School, either. Stanford University actually ranks number one, followed by Penn State University, one of two public universities in the top five.

And once you graduate and take that first job, you'll want to find a spot as a consultant. More CEOs started that way than in any other job.
Finally, be prepared to change companies to become a CEO. The survey found that 80% of the bosses at the biggest companies--ones with 1,000 or more employees--were hired from the outside.

Canadian Annual Inflation 2.2% in May

Investing.com - The overall rate of inflation in Canada held steady in May, Statistics Canada said on Friday.

The consumer price index rose 2.2% last month, compared with the same month a year earlier.

Prices rose by 0.1% from a month earlier.

Economists had expected annual inflation to increase by 2.5% and monthly inflation to rise by 0.4%.

Core inflation, which excludes gasoline, was up 1.3% from a year earlier and fell by 0.1% from the previous month.

The compared to forecasts for a 1.4% and 0.5%, respectively.

The Bank of Canada aims to keep inflation at 2%, the midpoint of a target range of 1% to 3% over the medium term.

The next policy decision is scheduled for July 11.

How China Can Fight Back Against Trump Trade Tariffs

Investing.com - China has said it will use “quantitative and qualitative” measures to hit back at U.S. President Donald Trump’s threats to impose tariffs on as much as $250 billion worth of Chinese imports.
China only imports $190 billion of goods and services from the U.S. so Beijing will not be able to find a reciprocal $250 billion worth of U.S. imports to impose tariffs.
But Beijing has other ways to fight back.
So far it is hard to gauge what the countermeasures might entail analysts say, but they could include restrictions on U.S. visas or investments into China.
U.S. companies operating in China might feel the brunt of any retaliatory measures, such as ad hoc regulatory probes of U.S. companies by Chinese authorities.
In recent months, Chinese imports of some U.S. food, cars and pet food were subject to lengthy customs delays for more stringent inspections.
There is also the possibility of also weakening the Chinese yuan to offset some tariffs.
Beijing could also make its countermeasures permanent rather than temporary, and if the situation deteriorated U.S. firms could be excluded from China’s financial markets.
China's Foreign Ministry has said the country does not want a trade war, but it's not afraid to engage in one.

India stocks higher at close of trade; Nifty 50 up 0.75%

Investing.com – India stocks were higher after the close on Friday, as gains in the Healthcare, Green Energy and Banking sectors led shares higher.

At the close in NSE, the Nifty 50 gained 0.75%, while the BSE Sensex 30 index added 0.73%.

The best performers of the session on the Nifty 50 were Sun Pharmaceutical Industries Ltd. (NS:SUN), which rose 4.43% or 24.55 points to trade at 577.25 at the close. Meanwhile, Bajaj Finance Ltd (NS:BJFN) added 3.75% or 84.55 points to end at 2336.05 and Bajaj Finserv Ltd (NS:BJFS) was up 3.13% or 187.45 points to 6176.50 in late trade.

The worst performers of the session were Reliance Industries Ltd (NS:RELI), which fell 1.97% or 20.30 points to trade at 1012.50 at the close. Hindustan Petroleum Corporation Ltd (NS:HPCL) declined 2.09% or 6.60 points to end at 311.15 and Coal India Ltd (NS:COAL) was down 0.97% or 2.60 points to 264.85.

The top performers on the BSE Sensex 30 were Sun Pharmaceutical Industries Ltd. (BO:SUN) which rose 3.91% to 576.30, Mahindra&Mahindra Ltd. (BO:MAHM) which was up 2.87% to settle at 909.00 and Housing Development Finance Corporation Ltd (BO:HDFC) which gained 2.54% to close at 1902.40.

The worst performers were Reliance Industries Ltd (BO:RELI) which was down 1.94% to 1012.30 in late trade, Coal India Ltd (BO:COAL) which lost 0.99% to settle at 265.10 and Tata Consultancy Services Ltd. (BO:TCS) which was down 0.44% to 1811.80 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 845 to 736 and 54 ended unchanged; on the Bombay Stock Exchange, 1362 fell and 1122 advanced, while 127 ended unchanged.

Shares in Bajaj Finance Ltd (NS:BJFN) rose to all time highs; gaining 3.75% or 84.55 to 2336.05. Shares in Bajaj Finserv Ltd (NS:BJFS) rose to all time highs; gaining 3.13% or 187.45 to 6176.50.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 3.41% to 12.0225.

Gold Futures for August delivery was up 0.02% or 0.20 to $1270.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.13% or 0.74 to hit $66.28 a barrel, while the August Brent oil contract rose 1.26% or 0.92 to trade at $73.97 a barrel.

USD/INR was up 0.03% to 67.855, while EUR/INR rose 0.09% to 78.9070.

The US Dollar Index Futures was down 0.23% at 94.32.

Stocks- U.S. Futures Rise as Investors Push Aside Trade War Concerns

Investing.com – U.S. futures were higher on Friday, as investors put aside their trade war fears.

The S&P 500 futures rose 12 points or 0.45% to 2,765.0 as of 6:45 AM ET (10:45 GMT) while Dow futures increased 107 points or 0.44% to 24,579.0. Meanwhile tech heavy Nasdaq 100 futures gained 26 points or 0.37% to 7,264.50.

While equities were higher, they were still on track for their worst weekly loss in three months as trade tensions between the U.S. and its allies lingered. India joined China and the European Union in retaliation against steel and aluminum tariffs, while the EU imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, orange juice and cranberry sauce.

Beverage firm Coca-Cola Company (NYSE:KO) was among the top gainers in pre-market trading, rising 1.14% while Netflix (NASDAQ:NFLX) rose 1.10% and Intel (NASDAQ:INTC) gained 0.98%.

Meanwhile Tesla (NASDAQ:TSLA) fell 0.72% after it announced it was closing a dozen solar facilities in nine U.S. states. General Electric (NYSE:GE) dipped 0.39% while Microsoft (NASDAQ:MSFT) inched down 0.04%.

In economic news, Markit is set to release its manufacturing and services indexes at 9:45 AM ET (13:45 GMT).

In Europe stocks were up. Germany’s DAX rose 36 points or 0.29% while in France the CAC 40 increased 36 points or 0.69% and in London, the FTSE 100 was up 47 points or 0.63%. Meanwhile the pan-European Euro Stoxx 50 gained 21 points or 0.64% while Spain’s IBEX 35 jumped 73 points or 0.76%.

In commodities, gold futures were flat at $1,270.50 a troy ounce while crude oil futures rose 0.99 to $66.19 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.25% to 94.30.

Gold Struggles for Direction as Dollar Slumps

Investing.com - Gold prices struggled for direction on Friday and remained at six-month lows as the dollar fell and trade tensions lingered.

Comex gold futures for August delivery were down 0.02% to $1,270.30 a troy ounce as of 4:41 AM ET (8:41 GMT).

Tensions between the U.S. and its allies continue, as India joined China and the European Union in retaliation against steel and aluminum tariffs. As the biggest buyer of almonds, India raised its tariff on U.S. almonds by 20%. Meanwhile the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, orange juice and cranberry sauce. The expected tariffs have added to tensions as investors fear an outright global trade war between the U.S.and other major countries.

Traders often turn to gold in times of political uncertainty, as the precious metal is often considered a safe haven from the impact of geopolitics but gold has struggled amid the latest political risks due to the strength in the greenback.

Meanwhile the U.S. dollar was lower. Gold normally rises as the dollar falls, as the precious metal is denominated in the U.S. currency and is sensitive to moves in the dollar but was held back despite a fall in greenback.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at 94.24, falling 0.33%.

Bullion becomes more expensive for holders of other currencies when the dollar rises and cheaper when it falls.

Elsewhere on the Comex, silver futures were up 0.51% to $16.410 a troy ounce. Among other precious metals, platinum rose 0.20% to $864.90 while palladium increased 0.60% to $951.30 an ounce. Copper futures gained 0.58% to $3.039 a pound.

Japan stocks lower at close of trade; Nikkei 225 down 0.78%

Investing.com – Japan stocks were lower after the close on Friday, as losses in the Banking, Paper&Pulp and Power sectors led shares lower.

At the close in Tokyo, the Nikkei 225 lost 0.78%.

The best performers of the session on the Nikkei 225 were Maruha Nichiro Corp (T:1333), which rose 3.42% or 145.0 points to trade at 4385.0 at the close. Meanwhile, Casio Computer Co., Ltd. (T:6952) added 2.97% or 52.0 points to end at 1801.0 and Nippon Light Metal Holdings Co. (T:5703) was up 2.94% or 7.0 points to 245.0 in late trade.

The worst performers of the session were SUMCO Corp. (T:3436), which fell 4.17% or 97.0 points to trade at 2231.0 at the close. The Japan Steel Works, Ltd. (T:5631) declined 3.34% or 98.0 points to end at 2840.0 and Softbank Corp. (T:9984) was down 2.80% or 242.0 points to 8399.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1937 to 1446 and 184 ended unchanged.

Shares in Maruha Nichiro Corp (T:1333) rose to all time highs; rising 3.42% or 145.0 to 4385.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.86% to 16.67.

Crude oil for August delivery was up 1.07% or 0.70 to $66.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 1.27% or 0.93 to hit $73.98 a barrel, while the August Gold Futures contract fell 0.02% or 0.20 to trade at $1270.30 a troy ounce.

USD/JPY was up 0.16% to 110.17, while EUR/JPY rose 0.63% to 128.44.

The US Dollar Index Futures was down 0.33% at 94.23.

Philippines stocks lower at close of trade; PSEi Composite down 0.49%

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

At the close in Philippines, the PSEi Composite declined 0.49% to hit a new 52-week low.

The best performers of the session on the PSEi Composite were Universal Robina Corp (PS:URC), which rose 1.95% or 2.20 points to trade at 115.00 at the close. Meanwhile, Ayala Land Inc (PS:ALI) added 1.35% or 0.500 points to end at 37.550 and SM Prime Holdings Inc (PS:SMPH) was up 1.06% or 0.350 points to 33.250 in late trade.

The worst performers of the session were Robinsons Land Corp (PS:RLC), which fell 3.32% or 0.640 points to trade at 18.620 at the close. Aboitiz Equity Ventures Inc (PS:AEV) declined 2.89% or 1.650 points to end at 55.350 and Alliance Global Group Inc (PS:AGI) was down 2.76% or 0.340 points to 12.000.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 128 to 75 and 46 ended unchanged.

Shares in Aboitiz Equity Ventures Inc (PS:AEV) fell to 52-week lows; falling 2.89% or 1.650 to 55.350. Shares in Alliance Global Group Inc (PS:AGI) fell to 5-year lows; losing 2.76% or 0.340 to 12.000.

Gold Futures for August delivery was down 0.04% or 0.50 to $1270.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.17% or 0.77 to hit $66.31 a barrel, while the August Brent oil contract rose 1.34% or 0.98 to trade at $74.03 a barrel.

CNY/PHP was down 0.16% to 8.2059, while USD/PHP fell 0.04% to 53.306.

The US Dollar Index Futures was down 0.29% at 94.27.

Taiwan stocks lower at close of trade; Taiwan Weighted down 0.38%

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

At the close in Taiwan, the Taiwan Weighted fell 0.38%.

The best performers of the session on the Taiwan Weighted were Loop Telecommunication International Inc (TW:3025), which rose 10.00% or 3.50 points to trade at 38.50 at the close. Meanwhile, King Core Electronics Inc (TW:6155) added 9.99% or 3.80 points to end at 41.85 and Tyntek Corp (TW:2426) was up 9.98% or 2.15 points to 23.70 in late trade.

The worst performers of the session were Ritek Corp (TW:2349), which fell 9.75% or 1.750 points to trade at 16.200 at the close. Young Optics Inc (TW:3504) declined 9.67% or 13.00 points to end at 121.50 and CMC Magnetics Corp (TW:2323) was down 8.99% or 0.980 points to 9.920.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 566 to 239 and 112 ended unchanged.

Shares in Loop Telecommunication International Inc (TW:3025) rose to all time highs; rising 10.00% or 3.50 to 38.50. Shares in King Core Electronics Inc (TW:6155) rose to 5-year highs; up 9.99% or 3.80 to 41.85. Shares in Tyntek Corp (TW:2426) rose to 5-year highs; gaining 9.98% or 2.15 to 23.70.

Crude oil for August delivery was up 1.25% or 0.82 to $66.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 1.34% or 0.98 to hit $74.03 a barrel, while the August Gold Futures contract rose 0.07% or 0.90 to trade at $1271.40 a troy ounce.

USD/TWD was down 0.15% to 30.277, while TWD/CNY rose 0.37% to 0.2157.

The US Dollar Index Futures was down 0.21% at 94.34.

Bitcoin Prices Fall; Bank of Korea Denies Plans For Launching Crypto

Investing.com – Bitcoin prices fell on Friday, while Ethereum and Litecoin slumped more than 5% as the Bank of Korea denied plans for launching a central bank-backed digital currency.

Bitcoin was trading at $6,663.7 by 12:40AM ET (04:40GMT) on the Bitfinex exchange, down 1.7% over the previous 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, was down 5.6% at $513.82 on the Bitfinex exchange.

Ripple’s XRP token fell 3.9% to $0.52519 on the Poloniex exchange.

Meanwhile, Litecoin traded 5.0% lower to to $94.08.

The Bank of Korea said earlier this week that it is opposed to the idea of a central bank-backed digital coin, as it could cause moral hazard for the bank and destabilize the markets.

“It’s desirable that the BOK is the only entity to entirely control issuing money,” the central bank said in a report.

“We reviewed the possible feasibility of digital currencies as currency; however, our thoughts are that digital currencies have been exposed to various categories of risk associated with credit, liquidity and legal management. Digital currencies don’t perform as money.” Kwon Oh-ik, a research at the bank’s economic research institue noted.

Elsewhere, Brian Kelly, founder and CEO of investment firm BKCM LLC, said in an interview with CNBC that he believes the initial coin offerings (ICOs) market is overvalued, and called such way to raise money is “very frothy”.

"People are starting to say, 'I'm going to put the brakes on the ICOs right now. I've got my portfolio. I don't need a seventh or eighth ICO,'" Kelly said. "To me, [ICOs are] not as hot as they used to be."

Asian Equities Extend Losses as Trade Jitters Persist

Investing.com – Asian stocks extended their losses in morning trade on Friday, tracking losses seen on Wall Street as trade tensions between the U.S. and China continuing to weigh on investor sentiment. 

Overnight, the S&P 500 Index slipped 0.6% and the Dow fell 0.8%.

The European slapped penalties on multiple American products that worth around $3.2 billion on Friday, including bourbon, motorcycles and orange juice as retaliatory measures against Trump administration’s tariffs.

The move added another front to a trade war that triggered a sell-off in global equities since the beginning of the week.

"We did everything we could to avoid this situation, but now we have no choice but to respond," Cecilia Malmstrom, the European commissioner for trade, said in a speech in Wellington, New Zealand. "The E.U. has a responsibility to stand up for open global trade."

On Monday, U.S. President Donald Trump ordered the U.S. Trade Representative to identify $200 billion worth of China goods for additional tariffs. 

China and Mexico have already retaliated with their own tariffs, while Canada, Japan and Turkey are preparing similar measures, according to reports.

In Asia, the Nikkei 225 traded 0.8% lower by 10:10PM ET (02:20 GMT) after data on Friday showed the country’s export orders contracted for the first time in almost two years.

Meanwhile, the Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 53.1 in June from 52.8 in May.

China’s Shanghai Composite and the Shenzhen Component were both down 0.4%. Hong Kong’s Hang Seng Index slipped 0.5%.

On Thursday, China’s commerce ministry spokesman Gao Feng accused the U.S. for being temperamental over bilateral trade issues, and that the U.S. government is being too unpredictable. “Beijing has had to respond in a strong way,” Gao said, adding that U.S. unilateralism would ultimately damage the interest of its own workers and farmers as China is “fully prepared” to respond to any new list of U.S. tariffs.  

Down under, Australia’s S&P/ASX 200 climbed 0.1% in morning trade.

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