Stocks are on track for their first weekly loss in the last four.
Stocks are off to a lower start on Wall Street and on track for their first weekly loss in the last four. The S&P 500 fell 0.5% in the early going Friday. The Dow Jones Industrial Average fell 174 points, or 0.4%, and the Nasdaq composite fell 0.8%. Markets are reacting to the latest quarterly reports from U.S. companies. Payments company Block, which operates the Square and Cash App businesses, sank after turning in results that fell short of forecasts. Exercise equipment maker Peloton jumped after its results beat estimates. Treasury yields moved higher in the bond market.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
BANGKOK Shares were mostly lower in Europe following a retreat Friday in Asia after losses for influential technology stocks pulled Wall Street benchmarks lower.
U.S. futures edged higher and oil prices advanced.
Germany’s DAX edged 0.1% lower and the CAC 40 in Paris was little changed at 7,965.31. Britain’s FTSE 100 lost 0.4% to 9,696.82.
The future for the S&P 500 was up 0.3% and that for the Dow Jones Industrial Average rose 0.2%.
In Asian trading, Japan’s Nikkei 225 index fell 1.2% to 50,276.37.
China reported that its exports contracted 1.1% in October, as shipments to the United States dropped by 25% from a year earlier. But economists expect Chinese exports to recover after U.S. President Donald Trump and Chinese leader Xi Jinping agreed last week to de-escalate the trade war between the two largest economies.
