US stocks end lower on Clinton email probe reopening
US stocks closed marginally lower on Friday on added uncertainty about election outcome after the Federal Bureau of Investigation announcement it was restarting a probe into Hillary Clinton’s emails. The dollar slipped with higher political uncertainty after markets had priced in a likely victory of Democratic candidate Clinton after her lead in polls over Republican candidate Trump following presidential debates.
No surprises in euro-zone corporate reports
European stocks closed lower on Friday as weak corporate reports didn’t indicate a break in recent negative trend. Both the euro and Pound strengthened against the dollar. The Stoxx Europe 600 fell 0.3%, recording 1% loss for the week.
Japanese industrial production slows down
Asian stocks fell today weighed by higher US presidential election uncertainty after the FBI announced it will restart a probe into how Democratic presidential candidate Hillary Clinton used her email. Nikkei closed 0.1% lower at 17425.02 today despite weaker yen against the dollar with industrial production and retail trade at 0.9% and -1.9% over year respectively in September missing expectations. Trading was thin with trading volume hitting a four-year low. Both the Shanghai Composite Index and the Hong Kong’s Hang Seng index ended 0.1% lower. Australia’s All Ordinaries Index lost 1.1% while the Australian dollar edged higher against the dollar.
Oil slide continues as producers fail to agree on output cuts
Oil futures prices are extending losses today after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to support prices. Officials and experts from OPEC countries and non-OPEC producers Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia met for consultations in Vienna on Saturday and only agreed to meet again in November before a scheduled regular OPEC meeting on November 30. Traders find it not much likely major oil producers will succeed in agreeing to output cuts at OPEC meeting in Vienna November 30. Various members have requested to be exempted from the output cuts and some have a record of not honoring their commitments in the past. December Brent crude fell 1.5% to $49.71 a barrel on Friday, with the global benchmark down 4% for the week.