Market Pulse - Usa
Wall Street stocks closed higher on Friday as investors remained focused on the bond market and US-China trade relations.
The FTSE 100 finished the session 109. 57 points lower to 7,117. 15.
The economic calendar will be exceedingly thin over the coming week and back-end loaded but with several potential key risk events strewn across investors's paths.
Strategists at Bank of America-Merrill Lynch sounded a 'bullish' note on stocks heading into September and for the longer-term.
Wall Street stocks opened higher on Friday as investors remained focused on the bond market and US-China trade relations.
Residential building activity slowed a tad last month, but not in the key segment of single-family homes and a lead indicator for the sector outpaced economists' expectations.
Wall Street futures were pointing to a positive session as investors remained focused on the bond market and US-China trade relations.
Low-cost carrier Norwegian Air has cancelled all flights between Ireland and North America from 15 September, just five months after launching new routes between Dublin and Canada.
Burford Capital's war of words with Muddy Waters Research continued as the company's short-seller critic dismissed governance changes as farcical and alleged misleading responses by Burford to investors' questions.
Wall Street trading finished mixed on Thursday, after a strong set of results from Walmart and some positive economic data helped to offset worries over China vowing to counter the latest round of tariffs from the White House.
A widely-followed proxy for commodity prices continued to flirt with its 52-week lows on Thursday amid ongoing strength in the US dollar against a backdrop of choppy trading in stockmarkets around the world as China said it would retaliate against the latest round of US trade tariffs and President Donald Trump responded that any deal had to be on American terms.
The focus at the weekend will be on the American consumer as the University Michigan releases a preliminary reading for consumer sentiment in August close on the heels of a much stronger than expected reading on retail sales in July.
Analysts at Jefferies gave the 'thumbs up' to Burford Capital's response to shareholder concerns about governance, reiterating their 'buy' recommendation and 2,400p target price for the shares.
Analysts at JPMorgan Cazenove downgraded heir recommendation on shares of mining giant Glencore to 'underweight' on Thursday, citing deteriorating fundamentals.
Wall Street trading began on a positive note on Thursday as strong results from Walmart and some positive economic data helped offset worries around China vowing to counter the US' latest round of tariffs.
US industrial output recorded a large and unexpected drop in July, pointing to the possibility that at least in manufacturing the current downturn still had further to run, according to some economists.
Manufacturing sector conditions in the Federal Reserve Bank of New York's jurisdiction picked up in August.
Manufacturing activity in the US mid-Atlantic region held up better than anticipated in August, according to the results of one of the most closely-followed surveys of activity in the sector.
The American consumer continued to splash out at a faster than expected clip over the summer.
Labour productivity in the States grew more quickly than expected during the second quarter, but so did unit labour costs.