Dow closes 100 points higher, snaps 3-day losing streak on strong retail sales data; European markets close over 1% higher after Thursday’s sell-off; Thyssenkrupp up 11%; BELELX15 added 0.3% on Friday; Annual inflation expected at 1.9-2%
The Dow Jones Industrial Average rose on Friday for its first daily gain in four sessions after the release of strong U.S. consumer data to end a volatile week. The Dow closed 112.11 points higher, or 0.4%, at 28,606.31. The S&P 500 eked out a small gain, closing at 3,483.81 and the Nasdaq Composite ended the day down 0.4% at 11,671.56.
U.S. retail sales jumped 1.9% in September, easily topping a Dow Jones estimate of 0.7%, according to data released by the Commerce Department. Excluding autos, sales were up 1.5%. That’s also better than a 0.4% estimate.
Boeing shares led the Dow higher, rising 1.9% after Europe’s aviation regulator said Boeing’s 737 Max jet is safe to fly again. Meanwhile, Pfizer jumped 3.8% after the company said it would apply for emergency use of its coronavirus vaccine as soon as it reaches certain safety milestones that it expects to have in late November. Meanwhile, Amazon shares dipped 1.9% amid concerns over the sales from company’s Prime Day event.
European markets closed sharply higher Friday, clawing back from steep losses in the previous session.
Thyssenkrupp shares bounced almost 11% after Britain’s Liberty Steel launched a takeover bid for the German conglomerate’s beleaguered steel unit.
The pan-European Stoxx 600 closed up by 1.3% provisionally, its best session in nearly three weeks.
BELELX15 was up 0.3%, as Komercijana added 1.5%. NIS was the most active name with RSD 1.m in volume.
According to the latest NBS inflation survey report, annual inflation Serbia is expected in a thinly range of 1.9-2%, for one year ahead period, which is in line with targeted bad at 3 + or – 1.5%.
Source: CNBC, Ilirika