Market Headlines – 21/11/2017

Posted 21 Nov 2017 by Alan McCarthy


  • The S&P 500 began the week on a positive note as gains in Tech stocks offset a soft session for Energy companies.
  • Oil prices fell 0.8%, reversing some of Friday’s strong 2.2% gain, as investors awaited an OPEC meeting scheduled for next week.
  • Overnight, the Fed’s Janet Yellen confirmed she will be stepping down from the Board of Governors once Mr Powell is sworn into office. Her vacancy will give President Trump a fourth spot to fill in the new Fed, including the Vice Chairman spot.



  • The euro had a volatile session following the lack of progress on forming a new government in Germany, falling as low as $1.1723 against the dollar in Asian trading hours — only to rally back to $1.1808, before dipping again to $1.1733 — down 0.5% on the day.
  • The weaker euro provided support to German equities as the DAX index reversed an early loss to close 0.5% higher. The tone for equity markets across the continent was positive. The Euro Stoxx 50 index gained 0.4%, the French CAC rose 0.4% and the UK’s FTSE 100 settled in positive territory despite Sterling strength.



  • Markets in Asia this morning followed the positive lead from their US and European counterparts. Asian equities rose 0.7%, with Energy and Materials stocks contributing the most gains.


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