US Q1 GDP slows less than expected - 30.4.2018

SP 500 logs marginal weekly decline

US stocks ended higher Friday as US economy slowed less than expected in first three months of 2018. S&P 500 rose 0.1% to 2670.91. SP 500 slipped 0.01% for the week though. Dow Jones industrial average lost less than 0.1% to 24311.19. The Nasdaq composite added 0.02% to 7119.80. The dollar weakened slighlty: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slid 0.1% to 91.48. Stock indices futures indicate higher openings today.

European stocks log fifth straight weekly gain

European stocks extended gains Friday despite disappointing French and UK GDP reports. The Stoxx Europe 600 Index gained 0.2%, ending 0.7% higher for the week. The euro turned higher against the dollar while British Pound accelerated the slide as UK Q1 GDP grew 0.1% instad of expected 0.3%. The DAX 30 rose 0.6% to 12580.87. France’s CAC 40 gained 0.5% and UK’s FTSE 100 outperformed rising 1.1% to 7502.21. Indices opened mixed today.

Asian indices rise

Asian stock indices are higher today while markets in China and Japan are closed for holidays. Hong Kong’s Hang Seng Index is 1.8% higher led by financial shares after China’s central bank said late Friday it would give financial institutions longer than expected to comply with new rules intended to curb risky lending. Australia’s All Ordinaries Index is up 0.5% as Australian dollar turned lower against the greenback.

Brent dips

Brent futures prices are edging lower today. Prices slid Friday as Baker Hughes said the number of US oil rigs rose by 5 last week to 825. Brent for July settlement lost 0.1% to close at $73.79 a barrel Friday.