US stocks finished the session flat as a collapse in oil prices dragged resource stocks lower, despite better than excepted results from Cisco. Whereas Asian shares ended the session mostly positive but have finished the week in steep negative territory in the aftermath of Chinas surprise currency devaluation earlier in the week. The Dow closed at 17408, the S&P500 at 2083.
The dollar was holding firm against its Japanese counterpart at 124.42, off its two-month high of 125.28 hit on Tuesday. The Euro, having lost 1.6% this week was trading around the $1.1144 level.
U.S. crude oil slid to 0.4% at $42.07 a barrel in early Asia trade, while Brent nudged slightly up 0.06% to $49.25, after earlier falling to a low of $49.11, ahead of Friday’s expiry of its front month contract.
Within the equity space A U.S. judge on Thursday found that BP manipulated the natural gas market in 2008, as alleged by the U.S. energy regulator, but did not address a proposed $28 million fine or any other penalties. BPs stock is down 1% in early trade at 378p per share.
US stocks finished the session flat as a collapse in oil prices dragged resource stocks lower, despite better than excepted results from Cisco. Whereas Asian shares ended the session mostly positive but have finished the week in steep negative territory in the aftermath of Chinas surprise currency devaluation earlier in the week. The Dow closed at 17408, the S&P500 at 2083.
The dollar was holding firm against its Japanese counterpart at 124.42, off its two-month high of 125.28 hit on Tuesday. The Euro, having lost 1.6% this week was trading around the $1.1144 level.
U.S. crude oil slid to 0.4% at $42.07 a barrel in early Asia trade, while Brent nudged slightly up 0.06% to $49.25, after earlier falling to a low of $49.11, ahead of Friday’s expiry of its front month contract.
Within the equity space A U.S. judge on Thursday found that BP manipulated the natural gas market in 2008, as alleged by the U.S. energy regulator, but did not address a proposed $28 million fine or any other penalties. BPs stock is down 1% in early trade at 378p per share.
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