This translation has been automatically generated and has not been verified for accuracy.Geopolitical tensions, muted economic data and mixed earnings stymied global stocks and weighed on crude oil prices on Friday with sterling hovering just above one week lows amid a new bout of Brexit anxiety.
“We may have reached the bottom in the euro zone, but there is still uncertainty that is troublesome in the U.S. Many accounts will be waiting for the Fed,” said Cyril Regnat, a fixed income strategist at Natixis, referring to next week’s meeting of the U.S. central bank with markets pricing a 90% chance of a rate cut.
Meanwhile Amazon.com Inc. shares will be in focus after the company on Thursday forecast revenue and profit for the holiday quarter below expectations on fierce competition and rising costs from its plan to speed up delivery times globally “Geopolitical concerns such as the global trade war are keeping investor optimism in check,” said Paula Polito, client strategy officer at UBS Global Wealth Management, adding the firm’s latest survey had found that investors had opted to raise their holdings of cash well above usual levels.