Global markets mixed after Wall Street loss

Traders work at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)
Stock trader Luke Scanlon, right, works at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)

BEIJING — Asian markets slid Friday while Europe gained in early trading ahead of the Christmas holiday after Wall Street fell for a second day.

KEEPING SCORE: France's CAC-40 gained 0.1 percent to 4,840.24 and Germany's DAX rose 0.1 percent to 11,472.34. London's FTSE 100 was down 2 points at 7,061.65. On Thursday, the DAX lost 0.1 percent, the FTSE added 0.3 percent and the CAC-40 was little changed. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 index were unchanged.

ASIA'S DAY: The Shanghai Composite Index fell 0.9 percent to 3,110.15 and Hong Kong's Hang Seng retreated 0.3 percent to 21,574.76. Sydney's S&P-ASX 200 was off 0.3 percent to 5,627.90 and Seoul's Kospi declined a fraction of a point to 2,035.90. India's Sensex added 0.4 percent to 26,077.96. Japanese markets were closed for a holiday. Benchmarks in New Zealand and Bangkok advanced. Taiwan and other Southeast Asian markets declined.

WALL STREET: Retailers pulled U.S. stocks lower after a record close for the Dow Jones industrial average earlier in the week. Investors dumped retailers including Bed Bath & Beyond, Target, Staples and Dollar Tree. Companies linked to investor Carl Icahn climbed after he was named as an adviser to President-elect Donald Trump. The Dow shed 23.08 points, or 0.1 percent, to 19,918.88. The Standard & Poor's 500 index lost 4.22 points, or 0.2 percent, to 2,260.96. The Nasdaq composite dipped 24.01 points, or 0.4 percent, to 5,447.42.

ANALYST'S TAKE: "Santa has taken a leave of absence into the end of the week with a pullback seen on Wall Street," said Jingyi Pan of IG in a report. "Traders have been closing their position into the end of the year and have brought down most of the sectors on the S&P 500 index with the exception of energy and defensives — telecommunications and utilities. Asian indices could remain depressed into the end of the year."

US ECONOMY: The U.S. economy grew at a 3.5 percent annual rate in the July-September quarter, the fastest pace in two years and more than the government had previously estimated. The gain in the gross domestic product came from added strength in consumer spending, business investment and the government sector, the Commerce Department said. The government had previously estimated last quarter's annual growth rate at 3.2 percent.

ENERGY: Benchmark U.S. crude lost 43 cents to $52.52 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 46 cents on Thursday to $52.95. Brent crude, used to price international oils, fell 41 cents to $54.64 in London. It rose 59 cents the previous session to $55.05.

CURRENCY: The dollar declined to 117.40 yen from Thursday's 117.45 yen. The euro improved to $1.0444 from $1.0439.

Must Read

Obama and Putin meet in China amid struggle for Syria deal

Sep 5, 2016

US, Russia struggle to keep alive negotiations to end the bloodshed between U.S.-backed rebels

New wave of anti-China activists set for Hong Kong vote win

Sep 5, 2016

A new wave of anti-China activists appeared headed for victory in Hong Kong's most crucial...

Merkel appeals to Russia to enable Syria cease-fire

Sep 5, 2016

German Chancellor Angela Merkel is renewing an appeal to Russia to enable a cease-fire in Syria and...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

China resumes ties with Sao Tome in triumph over Taiwan

Dec 26, 2016

China and Sao Tome and Principe have officially resumed diplomatic relations after the African...