Lola Evans
23 Sep 2023, 06:33 GMT+10
NEW YORK, New York - U.S. stocks weakened on Friday as U.S. Treasury yields continued to point higher while some investors began worrying about a potential government shutdown.
"Investors are staring at the ground right now worried about a shutdown," Jamie Cox, managing partner at Harris Financial told CNBC Friday.
"Markets are just sort of waiting around to see when it happens, and then trying to discount the duration of it."
The Standard and Poor's 500 (^GSPC) concluded the day at 4,320.06, marking a decrease of 9.94 points, equivalent to a 0.23 percent decline.
Meanwhile, the NASDAQ Composite (^IXIC) also experienced a marginal dip, ending the day at 13,211.81, with a decrease of 12.18 points, or 0.09 percent.
The Dow Jones Industrial Average (^DJI) exhibited retreated, closing at 33,963.84, down by 106.58 points, representing a 0.31 percent decrease.
Global Foreign Exchange Market Report for Friday: Commodity Currencies Make Gains
In the world of foreign exchange, Friday witnessed mixed movements in various currency pairs as traders reacted to economic data releases and global events. The foreign exchange market saw a dynamic trading session on Friday, with the Japanese Yen losing strength against the U.S. Dollar, while the Euro experienced a slight decline in value. The British Pound also saw a drop against the dollar, reflecting market sentiment amid ongoing economic uncertainties.
On the other hand, the Australian, Canadian and New Zealand dollars all strengthened against the U.S. dollar.
Here's a summary of the latest foreign exchange rates:
EUR/USD: The Euro to US Dollar exchange rate fell to 1.0646, reflecting a decrease of -0.11 percent or a decline of -0.0011 points.
USD/JPY: The Japanese Yen exchange rate dived to 148.39, marking a decline of -0.56 percent or -0.82 points.
USD/CAD: The Canadian Dollar exchange rate increased to 1.3477, indicating a slight lift of -0.04 percent or -0.0005 points.
GBP/USD: The British Pound dropped to 1.2240, showing a decrease of -0.43 percent or -0.00534 points.
USD/CHF: The Swiss Franc exchange rate eased to 0.90711 reflecting a decline of -0.29 percent or -0.0026 points.
AUD/USD: The Australian Dollar tposted a rate of 0.6441, marking an increase of +0.40 percent or +0.0025 points.
NZD/USD: The New Zealand Dollar to US Dollar exchange rate settled at 0.5960, indicating an increase of +0.50 percent.
Global Stock Markets Report for Friday: Mixed Performance with HSI Leading Gains
The world stock markets experienced a mixed performance on Friday, with some indices recording modest gains, while others saw slight declines. Investors remained cautiously optimistic as they monitored various economic factors influencing global markets.
Here's a snapshot of the latest quotes for key indices:
FTSE 100 (^FTSE) in London closed at 7,683.91, showing a gain of 5.29 points, which is approximately 0.07 percent.
In Germany, the DAX PERFORMANCE-INDEX (^GDAXI) closed at 15,557.29, down 14.57 points, equivalent to a 0.09 percent decline.
France's CAC 40 (^FCHI) concluded the day at 7,184.82, displaying a decline of 29.08 points, or 0.40 percent.
In Japan, the Nikkei 225 (^N225) closed at 32,402.41, down 168.62 points, reflecting a 0.52 percent decrease.
On the brighter side, Hong Kong's HANG SENG INDEX (^HSI) made notable gains, surging by 402.04 points, equivalent to a 2.28 percent increase, to reach 18,057.45.
China's SSE Composite Index (000001.SS) exhibited a strong performance, rising by 47.73 points, or 1.55 percent, closing at 3,132.43.
The Shenzhen Index (399001.SZ) also experienced significant gains, closing at 10,178.74 with an increase of 197.07 points, representing a 1.97 percent rise.
Australia's S&P/ASX 200 (^AXJO) and Canada's S&P/TSX Composite index (^GSPTSE) recorded modest gains of 3.60 and -11.65 points, respectively, translating to 0.05 percent and -0.06 percent.
South Africa's Top 40 USD Net TRI Index (^JN0U.JO) witnessed substantial growth, with a gain of 43.22 points, or 1.13 percent, closing at 3,880.64.
Despite the mixed performance, market experts highlighted the ongoing volatility in global markets, driven by uncertainties surrounding economic recovery, inflation concerns, and geopolitical events. Investors are advised to remain vigilant and diversify their portfolios to mitigate risks.
As the week concluded, the global stock markets remained resilient, with some indices reaching new highs while others faced slight headwinds. Market participants will closely watch economic data releases and geopolitical developments in the coming weeks, as these factors continue to shape the trajectory of global stock markets.
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