Asia Morning: U.S. Stocks Back in Positive Territory

Cisco Systems (CSCO) and Applied Materials (AMAT) also advance after reporting quarterly results...

Trading floor 2

On Friday, U.S. stocks returned to positive territory. The Dow Jones Industrial Average rebounded 399 points (+1.37%) to 29479, the S&P 500 rose 48 points (+1.36%) to 3585, and the Nasdaq 100 was up 110 points (+0.94%) to 11937.

Dow Jones Industrial Average Index (Daily Chart) : Nearing February High

Sources: GAIN Capital, TradingView

Energy (+3.81%), Automobiles & Components (+3.57%) and Consumer Durables & Apparel (+2.36%) sectors led the market higher. Nordstrom (JWN +10.32%), MGM Resorts International (MGM +9.33%) and Marathon Petroleum (MPC +8.24%) were top gainers. 

Cisco Systems (CSCO +7.06%) and Applied Materials (AMAT +4.31%) also advanced after reporting quarterly results.   

Approximately 82% (85% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 80% (85% in the prior session) were trading above their 20-day moving average. 

The University of Michigan's Consumer Sentiment Index (preliminary reading) unexpectedly fell to 77.0 in November (82.0 expected).

European stocks closed mixed. The Stoxx Europe 600 was little changed, Germany's DAX gained 0.18%, France's CAC 40 added 0.33%, while the U.K.'s FTSE 100 dropped 0.36%.

The benchmark U.S. 10-year Treasury yield advanced to 0.893% from 0.886% Thursday.

Spot gold gained $11 (+0.59%) to $1,887 an ounce.

U.S. WTI crude futures (December) fell $1.01 (-2.46%) to $40.11 a barrel.

On the forex front, the U.S. dollar saw its weakness resume against other major currencies. The ICE Dollar Index declined 0.22% to 92.75.

EUR/USD was up for second day climbing 0.24% to 1.1834. Official data showed that the eurozone's third-quarter GDP grew 12.6% on quarter (+12.7% expected) but shrank 4.4% on year (-4.3% expected).

GBP/USD rebounded 0.63% to 1.3197 halting a two-day decline. Volatility in the pound's trading is expected to pick up amid on-going Brexit tug-of-war between the U.K. and the European Union.

USD/JPY slipped below the key 105.00 level as it fell 0.48 to 104.62.

AUD/USD rebounded 0.53% to 0.7270.

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