Mon, 13 Jul 2020

Wall St makes modest gains Friday, U.S. dollar dives

Lola Evans
25 May 2019, 06:09 GMT+10

NEW YORK, New York - U.S. stocks were higher at the close on Friday, while the U.S. dollar was sold off across the board.

U.S. President Donald Trump said a trade deal with China is still possible and hinted it could resolve U.S. concerns about Huawei, but he also called the Chinese telco "very dangerous."

By the close of trading on Friday, the Dow Jones industrials were ahead 95.22 points or 0.37% at 25,585.69.

The Standard and Poor's 500 climbed 3.82 points or 0.14% to 28,261.06.

The Nasdaq Composite added 8.73 points or 0.11% to 7,637.01.

On foreign exchange markets the British pound jumped above the 1.2700 level after Theresa May announced she would be stepping down from the UK prime ministership on 7 June. Around the New York close Friday, the pound was changing hands at 1.2715.

The euro rose too, to finish the day around 1.1208.

The Japanese yen and the Swiss franc firmed to 109.31 and 1.0015 respectively.

The Canadian dollar advanced to 1.3439.

The Australian dollar receovered nicely to be trading around 0.6933.

The New Zealand dollar which had lost a lot of ground the during the week, also staged a sharp recovery. At the end of the week it was being bid at 0.6553.

In overseas markets, European shares all finished in positive territory. The FTSE 100 in London closed Friday with a gain of 0.65%.

The German Dax rose 0.49%, while in Paris, the CAC 40 climbed 0.67%.

Asian markets were mixed on Friday. In Tokyo there was little activity in the stock market. The Benchmark Nikkei 225 fell 33.92 points or 0.16% to 21,117.22.

In China, the Shanghai Composite lost just 0.48 of a point or 0.02% to 2,852.99.

The Australian All Ordinaries fell 38.70 points or 0.59% to 6,545.60.

In Hong Kong, the Hang Seng adfvanced 86.80 points or 0.32% to 27,353.93.

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