Asian stock markets were mostly lower Friday as investors remained cautious amid US political uncertainty and poor retailer earnings. The Nasdaq Composite (COMP - 6,115.96) ended lower for the first session in six, dropping 13.2 points, or 0.2%.
US stocks fell, with the S&P 500 Index posting its first back-to-back decline in one month, as April consumer prices and retail sales reports reinforced expectations for tepid economic growth while Nordstrom Inc. became the latest retailer to miss estimates. "It's been a disappointing couple of months for the USA consumer but we're expecting a rebound this month, with sales seen rising by 0.6%, while consumer sentiment is seen holding at 97, very close to its multi-year highs". The Russell 2000 index dropped 5 points, or 0.4 percent, to 1,384.
CASCADE EFFECT: Bank stocks have recently been trading in the opposite direction of Treasury yields, because a pickup in interest rates would allow banks to make bigger profits from making loans.
California governor seeks smaller education, child care cuts
After county officials warned they could not absorb the expenses, the state would now shift $141 million under Brown's proposal. Meanwhile, year-to-date revenue totals are $1.8 billion behind the current budget's projections.
USA stocks closed mixed Friday as investors meditated on a batch of economic reports. The S&P 600 Small-Cap Index closed at 845.02 for a loss of -6.29 points or -0.74%.
MARKETS ABROAD: In Europe, the French CAC 40 rose 0.4 percent, the German DAX gained 0.5 percent and the FTSE 100 in London picked up 0.7 percent.
Stock movers: After the Macy's Inc.(M) revenue slide dragged the retail sector south Thursday, J.C. Penney Co.'s (JCP) earnings report ahead of the open should be closely watched for similar signs of struggle.
Animated Deadpool TV Show Confirmed
Canadian actor Ryan Reynolds most recently portrayed Deadpool and his alter-ego, mercenary Wade Wilson , in Marvel's 2016 film . With a rabid following of fans from across the globe, he now stars in a variety of best-selling titles from Marvel Comics.
Oanda analyst Craig Erlam said: "With the Federal Reserve looking to raise interest rates twice more this year and markets eyeing June for the next hike - 83% priced in based on Fed Funds futures - today's inflation and consumer figures are going to be closely followed". Eighteen of the Dow's 30 stocks ended lower, with Microsoft's 1.2% loss the worst. The officials from Britain, Canada, France, Germany, Italy, Japan and the United States are expected to discuss ways to promote broad-based economic growth.
The euro rose to $1.0931 from $1.0866 late Thursday. The dollar slipped to 113.43 Japanese yen from 113.88 yen, and the British pound held steady at $1.2890.
Ransomware: Wave of cyberattacks sweeps the globe
NHS Digital said in a statement: "The investigation is at an early stage but we believe the malware variant is Wanna Decryptor". The Shadow Brokers released Eternal Blue as part of a trove of hacking tools that they said belonged to the USA spy agency.