In European Equity Market the pan-European Stoxx 600 finished 0.74 percent down on Monday. U.K. listed stocks were essentially flat, clinging on to value amid a relative lull in Brexit related news. Looking at individual stocks, Renault fell to the bottom of the index after Nissan said its Chairman, Carlos Ghosn, was under investigation for allegedly violating Japanese financial laws. Europe’s basic resources stocks were among the better performers down only 0.2 percent amid conflicting signals over global trade tensions.

 

In Currency Markets the US dollar fell to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle. The euro, meanwhile, rallied against the dollar despite concerns about negotiations between Brussels and Rome on Italy’s budget plans. It was changing hands at $1.1454, up 0.3 percent, after hitting two week highs earlier. Sterling rose 0.2 percent versus the dollar to $1.2862 after a 1 percent decline last week

 

In Commodities Markets oil fell on Monday, surrendering earlier gains as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output. Brent crude futures were down $1.04 at $65.72 a barrel, having retreated from a session high of $67.64. WTI crude futures fell $1.03 to $55.43 a barrel. The Organization of the Petroleum Exporting Countries, led by Saudi Arabia, is pushing for the group and its partners to reduce output by 1 million to 1.4 million barrels per day to prevent a build-up of unused fuel.

 

In US Equity Markets stocks fell on Monday, as a slide in Apple’s shares on concerns about iPhone demand hit its suppliers and the technology sector, with mixed signals over the state of play between the United States and China on trade dispute adding to the weakness. Shares of Apple Inc resumed its decline with a 3.5 percent fall after the Wall Street Journal reported the company has cut production orders in recent weeks for all three iPhone models launched in September.  The S&P 500 was down 1.00 percent, at 2,708.98 and the Nasdaq Composite declined 1.81 percent, at 7,116.37.

 

In Bond Markets U.S. Treasury yields were little changed on Monday before New York Federal Reserve President John Williams was due to speak after comments by Richard Clarida, the newly appointed vice chair of the Federal Reserve, were viewed as dovish. Clarida said on Friday that U.S. interest rates are nearing Fed estimates of a neutral rate, and being at neutral “makes sense.” The bond market will be closed on Thursday for Thanksgiving and will close early on Friday.

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