US indices closed higher on Friday with the Nasdaq index hitting a record high lifted by shares in the Semiconductors & Semiconductor Equipment (+3.44%), Automobiles & Components (+1.69%) and Transportation (+1.61%) sectors. The S&P 500 (3,022.55) remains above its 20d moving average (2,965.13 – positive slope) and 50d moving average (2,957.26 – positive slope).
On the economic data front, the University of Michigan Consumer Sentiment Index released at 95.5, which was slightly below the 96.0 estimate for the October final reading, down from 96.0 in the prior reading. On Monday, economists expect Wholesale Inventories month over month change to be up 0.3% for the September preliminary reading, from 0.2% in the prior reading.
European markets are expected to start on a flat note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against all of its major pairs on Friday. On the economic data front, the University of Michigan Consumer Sentiment Index released at 95.5, which was slightly below the 96.0 estimate for the October final reading, down from 96.0 in the prior reading. On Monday, economists expect Wholesale Inventories month over month change to be up 0.3% for the September preliminary reading, from 0.2% in the prior reading.
The Euro was bearish against most of its major pairs with the exception of the NZD. In Europe, Germany IFO business climate index was flat 94.6 in October vs. 94.5 expected.
The Australian dollar was bullish against all of its major pairs.<\/p>\n\n\n\n