NEW YORK, New York – U.S. stocks were back in demand on Friday recouping most of Thursday’s losses as Treasury yields eased back.

“In general, the expectation investors have is that the upcoming inflation data is going to be positive for the market and I think they want to get in front of it a little bit,” Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey told Reuters Friday.

“People are looking at megacap tech and saying in an environment of higher rates and a slowing economy, these companies remain the best place to be and are willing to pay a premium for them,” Meckler added.

S&P 500 (New York): In New York, the Standard and Poor’s 500 closed at 4,405.92, reflecting a positive change of 58.57 points, or a 1.35 percent increase.

Dow Jones Industrial Average (New York): The Dow Jones Industrial Average concluded at 34,211.49, marking a gain of 319.55 points, or a 0.94 percent increase.

NASDAQ Composite (New York): The NASDAQ Composite in New York closed at 13,773.21, experiencing a notable increase of 251.76 points, or a 1.86 percent rise.

Investors navigated through market dynamics influenced by economic data and ongoing developments, shaping trading decisions. The S&P 500 and NASDAQ Composite indices, in particular, showcased resilience, recording significant gains. Meanwhile, the FTSE 100 experienced a modest decline, reflecting the nuanced nature of global markets.

Market volumes played a pivotal role Friday, with the S&P 500 reporting a trading volume of 1.376 billion shares, the Dow Jones Industrial Average at 175.054 million shares, and the NASDAQ Composite at 3.064 billion shares.

As the trading week came to a close, market participants evaluated the week’s performance and positioned themselves for potential opportunities and challenges in the weeks ahead. The global stock market continues to navigate uncertainties, showcasing the resilience and adaptability of investors in response to an ever-evolving economic landscape.

U.S. dollar remains mostly bid to end week on positive note

EUR/USD (Euro/US Dollar): The euro to U.S. Dollar exchange rate settled at 1.0681 late Friday, marking a marginal increase of 0.13 percent, or an uptick of 0.0018.

USD/JPY (US Dollar/Japanese Yen): The Japanese Yen exchange rate stood at 151.57, having slipped 0.15 percent, or 0.23.

USD/CAD (US Dollar/Canadian Dollar): The Canadian Dollar exchange rate settled at 1.3806, with no significant percentage change, but a slight decrease of 0.00006.

GBP/USD (British Pound/US Dollar): The British Pound retreated to 1.2219 Friday, reflecting a marginal decrease of 0.02 percent, or a decline of 0.0003.

USD/CHF (US Dollar/Swiss Franc): The Swiss Franc exchange rate was at 0.9023, indicating a fractional gain of 0.05 percent, or 0.0004.

AUD/USD (Australian Dollar/US Dollar): The Australian dollar eased to 0.6356, experiencing a decrease of 0.15 percent, or a decline of 0.00094

NZD/USD (New Zealand Dollar/US Dollar): The New Zealand Dollar settled at 0.5887, showing a decrease of 0.10 percent, or a decline of 0.0005.

Global stock markets close out week all out universally lower

In the ever-evolving landscape of global financial markets, Friday saw a major reversal trend of performances across major stock market indices worldwide. Investors navigated through various economic indicators, geopolitical developments, and corporate earnings reports, contributing to a generally downward day.

Here’s a snapshot of Friday’s closing stock market quotes:

CANADA

S&P/TSX Composite index (Toronto): In Toronto, the S&P/TSX Composite index closed at 19,627.80, showing a positive change of 40.39 points, equivalent to a 0.21 percent increase. The S&P/TSX Composite index reported a trading volume of 98.342 million shares Friday.

UNITED KINGDOM

FTSE 100 (London): The FTSE 100 index closed at 7,360.55, reflecting a decrease of 95.12 points or a decline of 1.28 percent.

EUROPE

ESTX 50 PR.EUR (Eurozone): The ESTX 50 PR.EUR in the Eurozone closed at 4,197.36, down by 31.84 points, reflecting a decrease of 0.75 percent.

Euronext 100 Index (Eurozone): The Euronext 100 Index concluded at 1,317.17, experiencing a decrease of 6.61 points or a 0.50 percent decline.

DAX PERFORMANCE-INDEX (Frankfurt): In Frankfurt on Friday, the DAX PERFORMANCE-INDEX stood at 15,234.39, marking a drop of 118.15 points, equivalent to a decrease of 0.77 percent.

CAC 40 (Paris): The CAC 40 in Paris recorded a value of 7,045.04, showing a decrease of 68.62 points, translating to a 0.96 percent decline.

BEL 20 (Brussels): In Brussels, the BEL 20 settled at 3,438.86, down by 40.05 points, indicating a 1.15 percent decline.

RUSSIA

MOEX Russia Index (Moscow): The MOEX Russia Index closed at 2,222.51, showing a decrease of 4.14 points or a 0.19 percent decline.

ASIA

Nikkei 225 (Tokyo): The Nikkei 225 in Tokyo closed at 32,568.11 Friday, experiencing a decrease of 78.35 points or 0.24 percent.

HANG SENG INDEX (Hong Kong): Hong Kong’s HANG SENG INDEX concluded at 17,203.26, down by 308.03 points, representing a 1.76 percent decline.

SSE Composite Index (Shanghai): The SSE Composite Index in Shanghai closed at 3,038.97, reflecting a decrease of 14.31 points, equivalent to a 0.47 percent decline.

Shenzhen Index (Shenzhen): Shenzhen Index settled at 9,978.54, indicating a decline of 53.54 points or 0.53 percent.

STI Index (Singapore): Singapore’s STI Index settled at 3,106.68 Friday, down by 28.64 points, indicating a 0.91 percent decline.

S&P BSE SENSEX (Mumbai): Mumbai’s S&P BSE SENSEX closed at 64,904.68, up by 72.48 points, indicating a positive change of 0.11 percent.

NIFTY 50 (Mumbai): Mumbai’s NIFTY 50 closed at 19,425.35 Friday, up by 30.05 points, indicating a positive change of 0.15 percent.

IDX COMPOSITE (Jakarta): The IDX COMPOSITE in Jakarta settled at 6,809.26, down by 28.97 points, reflecting a 0.42 percent decline.

FTSE Bursa Malaysia KLCI (Kuala Lumpur): The FTSE Bursa Malaysia KLCI in Kuala Lumpur closed at 1,445.18, down by 7.09 points, indicating a 0.49 percent decline.

S&P/NZX 50 INDEX GROSS (Wellington): In Wellington Friday, the S&P/NZX 50 INDEX GROSS closed at 11,140.40, down by 57.26 points or a 0.51 percent decline.

KOSPI Composite Index (Seoul): The KOSPI Composite Index in Seoul settled at 2,409.66, down by 17.42 points or a 0.72 percent decline.

TSEC weighted index (Taipei): Taipei’s TSEC weighted index closed at 16,682.67, down by 62.98 points, indicating a 0.38 percent decline.

EGX 30 Price Return Index (Cairo): In Cairo, the EGX 30 Price Return Index concluded at 24,312.90, up by 326.30 points, a positive change of 1.36 percent.

OCEANIA

ALL ORDINARIES (Australia): The ALL ORDINARIES index in Australia closed at 7,176.60, down by 38.50 points, reflecting a 0.53 percent decline.

S&P/ASX 200 (Sydney): In Sydney, the S&P/ASX 200 closed at 6,976.50, down by 38.40 points, or a 0.55 percent decrease.

AFRICA

Top 40 USD Net TRI Index (Johannesburg): Johannesburg’s Top 40 USD Net TRI Index concluded at 3,751.36, showing a decrease of 93.34 points or a 2.43 percent decline.

Middle Eastern markets were closed for a public holiday.

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