US Stocks Ended Friday’s session on a Positive Note, Brent Crude Tumbles
September 14, 2015 6:14 am
US Stocks ended Fridays session in positive territory with the S&P500 posting its biggest weekly gain since July as the debate on whether the US Fed will raise interest rates this week intensified. Asian shares however came under pressure after more muddy economic data came out of China, with worse than expected industrial production raising the chances that the regions Q3 economic growth may move below 7% for the first time since the global crisis.
Against the yen, the dollar traded at 120.33 yen, down about 0.2% from late U.S. trade on Friday. The euro inched up about 0.1% to $1.1347, holding on to last week’s 1.8% gain.
U.S. crude futures reversed earlier gains in Asian trade, sliding about 0.3% to $44.52, after losing 3.0% last week. Brent crude tumbled 0.8% to $47.74. Spot Gold was trading at $1107 per troy ounce.
Pharmaceutical company Shire was reportedly mulling options to sweeten its multibillion dollar, all-stock offer for US biotechnology group Baxalta by putting cash into shareholders’ hands sooner. Last month Dublin-based Shire made an offer that valued Baxalta at $30.6bn, but the officer excluded cash. Shire said it was to maintain the tax-free status of Baxalta, which is a spinoff from Baxter International. Shire stocks is trading 0.5% higher in early trade at 4823p per share.
US Stocks ended Fridays session in positive territory with the S&P500 posting its biggest weekly gain since July as the debate on whether the US Fed will raise interest rates this week intensified. Asian shares however came under pressure after more muddy economic data came out of China, with worse than expected industrial production raising the chances that the regions Q3 economic growth may move below 7% for the first time since the global crisis.
Against the yen, the dollar traded at 120.33 yen, down about 0.2% from late U.S. trade on Friday. The euro inched up about 0.1% to $1.1347, holding on to last week’s 1.8% gain.
U.S. crude futures reversed earlier gains in Asian trade, sliding about 0.3% to $44.52, after losing 3.0% last week. Brent crude tumbled 0.8% to $47.74. Spot Gold was trading at $1107 per troy ounce.
Pharmaceutical company Shire was reportedly mulling options to sweeten its multibillion dollar, all-stock offer for US biotechnology group Baxalta by putting cash into shareholders’ hands sooner. Last month Dublin-based Shire made an offer that valued Baxalta at $30.6bn, but the officer excluded cash. Shire said it was to maintain the tax-free status of Baxalta, which is a spinoff from Baxter International. Shire stocks is trading 0.5% higher in early trade at 4823p per share.
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