Last update: Sat, 03 Dec 2016 05am

Stocks and Bonds: World


The S&P 500 and the Nasdaq rose for the first time in three days, supported by gains in technology and health stocks, but Dow slipped after a rally in bank stocks paused. Major Wall Street indexes have hit a series of record highs over the past three weeks, sparked by Donald Trump's victory in the US presidential election as investors bet that his policies would be market friendly.

A sharp decline in technology stocks pulled both the Nasdaq and the S&P 500 indexes into the red on Thursday, while the Dow managed to notch a record closing high with a lift from bank and energy shares. Declines in Facebook, off 2.8 percent at $115.14, and Microsoft, down 1.8 percent to $59.18, sent the Nasdaq to its lowest close since November 14, while the S&P 500 technology index dropped 2.3 percent, its worst daily performance since June 24.
Tokyo stocks closed lower Friday as investors grew cautious ahead of US jobs data and a weekend Italian referendum, with the benchmark index slipping off a 2016 high. The Nikkei 225 lost 0.47 percent, or 87.04 points, to end at 18,426.08, having chalked up its highest close this year on Thursday. The broader Topix index of all first-section issues dropped 0.36 percent, or 5.29 points, to 1,477.98.
Britain's top share index edged downwards to a 2-week low on Friday as investors avoided risky bets heading into the weekend of Italy's constitutional referendum, with bank shares leading the declines. The bluechip FTSE 100 closed down 0.3 percent, taking its loss for the week to 1.6 percent and snapping a three-week winning streak.
European shares ended weaker after slipping earlier on Friday to a three-week low as investors traded cautiously before a referendum on constitutional reform in Italy that could trigger fresh political uncertainty in the region. The STOXX 600 index closed 0.4 percent lower, weighed down by weaker financial stocks and a pull-back in the commodity sector on a fall in metals. The pan-European index finished the week in negative territory after gains in the previous three weeks.
Indian shares ended down over 1 percent on Friday, resulting in a weekly loss, dragged by financials after the country raised the limit of bonds that can be issued under the market stabilisation scheme, while the sentiment was also subdued ahead of US payrolls expected later in the day. The BSE index fell 1.24 percent to 26,230.66, ending 0.33 percent lower for the week.
Most Southeast Asian stock markets were largely subdued on Friday as investors remained cautious ahead of the US payrolls data later in the day. Nonfarm payrolls are expected to increase by 175,000 in November after rising 161,000 in October, according to a Reuters survey of economists. The data will serve as further evidence of improvement in the US economy, strengthening the possibility of an interest rate hike by the Fed at its meeting on December 13-14.