European stocks open lower after Trump criticizes the Fed

Shares in Europe open lower Friday following remarks from President Donald Trump about the Federal Reserve.

The pan-European Stoxx 600 was off by 0.2 percent at 385.40 at the open with nearly every sector in the red.

U.K.’s FTSE 100 and France’s CAC 40 opened 0.1% lower at 7,680.68 and 5,410.03 respectively with Germany’s DAX traded 0.2% lower at 12,662.34.

In an exclusive interview with CNBC, Trump said he is “not happy” about rising interest rates. “I am not happy about it. But at the same time I’m letting them (the Fed) do what they feel is best,” Trump said. In the same interview, Trump said if his dealings with Russian President Vladimir Putin don’t work out, Trump will become “the worst enemy he’s ever had.”

Source: CNBC

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Japan Stocks Fall as Yen Strengthens After China Weakens Fixing

Japanese stocks declined as the yen strengthened against the dollar, following a slump in the yuan after China’s central bank weakened its daily reference rate for the currency by the most in two years.

Topix fell 0.3% at 1,744.85 as of morning break in Tokyo while Nikkei 225 lost 0.5% at 22,652.42. Yen at 112.45 per dollar; rose 0.4% on Thursday

The Japanese currency extended gains after strengthening 0.4 percent on Thursday following President Donald Trump’s criticism of the Federal Reserve’s interest-rate increase. Tech and machinery shares weighed on the Topix index as about two stocks fell for every one that rose. The Shanghai Stock Exchange Composite Index was headed for a weekly loss of 1.9 percent, extending its decline for 2018 to 16 percent.

Source: Reuters

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Dow futures pull back after 5-day rally, with earnings in focus

U.S. stocks were poised for a day of mild losses on Thursday, with the Dow industrials on track to pull back from a five-day rally driven partly by optimism over the U.S. economy.

Traders appeared to be pausing for breath as they looked ahead to prominent earnings releases, including from Dow components Travelers and Microsoft, in what is shaping up to be an upbeat season.

Readings on weekly jobless claims and the Philly Fed index are on deck ahead of the open.

Futures for the Dow Jones Industrial Average fell 39 points, or 0.2%, to 25,122, while those for the S&P 500 index dropped 6.75 points, or 0.2%, to 2,809.25. Futures for the Nasdaq-100 index gave up 16 points, or 0.2%, to 7,388.50.

Source: Marketwatch

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