In European Equity Markets the pan-European STOXX 600 closed down 0.14 percent, with the majority of sectors falling into negative territory. Autos was Europe’s top performing sector Thursday, jumping 1.06 percent on the back of hopes that China and the U.S. might reach a compromise over trade. Tech stocks also received a boost, after U.S. smartphone giant Appleunveiled its latest iPhones on Wednesday. Shares of European Apple suppliers rose, with ams AG and STMicroelectronics both closing 1.5 percent or more.
In Currency Markets the dollar fell to a near 1-1/2-month low against a group of currencies on Thursday after data showed U.S. consumer prices increased less than expected in August, paring traders’ outlook that domestic inflation is accelerating. The euro rose to a two-week peak against the dollar at $1.17010 before subsiding to $1.16780, up 0.44 percent on the day. The pound hit a six-week high versus the dollar at $1.3124. It was last at $1.3095, up 0.36 percent. The European Central Bank and Bank of England as expected left interest rates unchanged on Thursday.
In Commodities Markets oil prices fell more than 2 percent on Thursday, slipping back from four-month highs as investors focused on the risk that emerging market crises and trade disputes could dent demand even as supply tightens. The IEA warned that although the oil market was tightening at the moment and world oil demand would soon reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting. U.S. light crude was down $1.62, or 2.3 percent, to $68.75 barrel. Brent crude oil fell $1.51, or 1.9 percent, a barrel at $78.23.
In US Equity Markets a rise in Apple led a rebound in technology shares and boosted all three major stock indexes on Thursday, while trade worries eased after China said it was open to fresh talks with the United States. The technology sector climbed 1.11 percent on the day, the most among the 11 major S&P sectors. The S&P 500 was up 0.38 percent, at 2,899.76 and the Nasdaq Composite rose 0.73 percent, at 8,012.24. Kroger fell 9.5 percent, the most on the S&P, after the supermarket chain’s same-store sales missed estimates.
In Bond Markets U.S. Treasury yields across maturities fell to session lows in morning trading on Thursday after data showed U.S. consumer prices rose less than expected in August, moderating expectations that the Federal Reserve will raise interest rates another two times in 2018. The yield on the 30-year bond fell 2.9 basis points following the CPI data release to 3.092 percent. The yield on the two-year note fell to 2.740 percent from a high of 2.773 earlier in the day. The 10-year note yield was last at 2.952, down from a session high of 2.983 percent.