The CSX Index is currently at 505.76 Points down 1.1 Points or 0.22%
The Daily Exchange Rate: is 4,061 KHR to the USD$
ASIAN SHARES BOUNCE AS CHINA MOVES TO BOOST HOUSING.
Asian shares jumped on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) quickly built on early gains after the cut and was last up more than 1.8%.
European equities were set to follow Asia's lead, with pan-region Euro Stoxx 50 futures , German DAX futures and FTSE futures all up more than 1%.
Chinese blue-chips also rose 1.8%, boosted by foreign buying, and Hong Kong's Hang Seng index (.HSI) jumped more than 2%, while Australian shares (.AXJO) rose 1.1%. In Tokyo, the Nikkei stock index (.N225) gained 1.3%.
In the currency market, the dollar index retreated from small earlier gains to nudge down 0.12% to 102.79, heading for its first losing week in seven
WALL STREET ENDS LOWER AS CISCO AND APPLE SINK.
Wall Street ended lower after a volatile session on Thursday, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates.
Shares of Cisco (CSCO.O) slumped 13.7% after the networking gear maker lowered its 2022 revenue growth outlook, taking a hit from its Russia exit and component shortages related to COVID-19 lockdowns in China.
Apple (AAPL.O) and chipmaker Broadcom (AVGO.O) declined 2.5% and 4.3%, respectively, and weighed on the S&P 500.
Twitter (TWTR.N) climbed 1.2% after Bloomberg reported that company executives told staff that Elon Musk's $44-billion deal was proceeding as expected and they would not renegotiate the price. read more
The S&P consumer staples index (.SPLRCS) fell 2% to its lowest level since December as retail firms face the brunt of rising prices hurting the purchasing power of U.S. consumers.
Kohl's Corp (KSS.N) became the latest retailer to flag a hit from four-decades high inflation as the department store chain cut its full-year profit forecast.
The S&P 500 is down about 18% from its record close on Jan. 3 as investors adjust to strong inflation, geopolitical uncertainty stemming from the war in Ukraine and tightening financial conditions with the U.S. Federal Reserve raising rates.
A close of 20% or more below its January record high would confirm the S&P 500 has been in a bear market since hitting that peak, according to a widely used definition.
The S&P 500 declined 0.58% to end the session at 3,900.79 points.
The Nasdaq declined 0.26% to 11,388.50 points, while the Dow Jones Industrial Average declined 0.75% to 31,253.13 points.
Thursday's mixed performance followed a drop of over 4% in the S&P 500 on Wednesday, the benchmark's worst one-day loss since June 2020.
OIL FALLS ON UNCERTAINTY OVER FUEL DEMAND RECOVERY.
Oil prices fell on Friday as investors worried that weakening global economic growth and tighter central bank monetary policy could curb a recovery in fuel demand.
Brent futures for July fell 59 cents, or 0.53%, to $111.45 a barrel by 0648 GMT, while U.S. West Texas Intermediate (WTI) crude for June fell 56 cents, or 0.5%, to $111.65 on its last day as the front-month.
The more actively traded WTI contract for July was down 0.8% at $109.01 a barrel.
