by John BIERS
Agence France Presse
NEW YORK, United States (AFP) — Wall Street stocks rose Friday, with the Nasdaq inching up to a fresh record, following data showing strong US retail sales in September.
Meanwhile, Europe’s major stock markets were mixed at the end of the trading session, while oil prices advanced after President Donald Trump announced he was “decertifying” the Iran nuclear deal, throwing into doubt an agreement that was expected to boost Iranian oil output.
US stocks rose after retail sales jumped 1.6 percent last month due to strong trade in cars, car parts and fuel following US hurricanes, the largest monthly increase since March of 2015, Commerce Department data showed.
“In our view, the American consumer has quite a bit of firepower, even if some of this is being funded by credit,” said Neil Saunders, managing director of GlobalData Retail.
Money managers remained quietly optimistic about earnings after most large banks bested expectations, said Sam Stovall, chief investment strategist at CFRA Research.
“Investors believe that earnings will continue to surprise on the upside for the S&P 500 despite the disappointment on some of the banks,” Stovall said.
In Frankfurt, the German blue-chip DAX index, ended just short of the 13,000-point mark, which it had breached for the first time on Thursday.
The CAC 40 index in Paris was fractionally lower and London’s benchmark FTSE 100 index of top blue-chip companies eased 0.3 percent, after hitting a record closing peak the previous day.
Oil prices pushed higher, after data showed a strong Chinese crude imports.
Trump’s announcement also boosted oil prices. The US president stopped short of nullifying the deal, but sent the agreement to Congress and warned “our participation can be canceled by me as president at any time.”
Trump’s announcement was expected, blunting some of its impact on markets.
“It doesn’t mean that the deal has been terminated, but the onus is on Congress now to address the concerns of the President. How this is viewed by Iran will be the question,” said a note from Commerzbank. “Either way, it’s shaky ground.”
Key figures around 1545 GMT
New York – DOW: UP 0.1 percent at 22,871.72 (close)
New York – S&P 500: UP 0.1 percent at 2,553.17 (close)
New York – Nasdaq: UP 0.2 percent at 6,605.80 (close)
London – FTSE 100: DOWN 0.3 percent at 7,535.44 (close)
Frankfurt – DAX 30: UP 0.1 percent at 12,991.87 (close)
Paris – CAC 40: DOWN 0.2 percent at 5,351.74 (close)
EURO STOXX 50: FLAT at 3,604.55 (close)
Tokyo – Nikkei 225: UP 1.0 percent at 21,155.18 (close)
Hong Kong – Hang Seng: UP 0.1 percent at 28,476.43 (close)
Shanghai – Composite: UP 0.1 percent at 3,390.52 (close)
Euro/dollar: DOWN at $1.1822 from $1.1828
Pound/dollar: UP at $1.3291 from $1.3260
Dollar/yen: DOWN at 111.86 yen from 112.29 yen
Oil – Brent North Sea: UP 92 cents at $57.17 per barrel
Oil – West Texas Intermediate: UP 85 cents at $51.45 per barrel
© Agence France-Presse
