Stocks open slighlty higher, still headed for a weekly loss

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Currency traders wearing look masks speech each different astatine the overseas speech dealing country of the KEB Hana Bank office successful Seoul, South Korea, Friday, Aug. 20, 2021. Asian banal markets were mostly little Friday arsenic worries surrounding the dispersed of the delta variant again took halfway stage. (AP Photo/Ahn Young-joon)

Stocks are inching higher successful aboriginal trading connected Wall Street Friday but not capable to erase their losses from the week. The S&P 500 was up 0.2% successful the aboriginal going. Technology and concern companies were climbing, but different driblet successful crude lipid prices was helping to propulsion vigor companies lower. Ross Stores fell 5% aft issuing a full-year forecast that fell abbreviated of Wall Street’s expectations, portion Foot Locker jumped 11% aft blowing past analysts’ forecasts for its latest quarter. Crude lipid prices fell 1%, European markets were mixed and Asian markets closed mostly lower. Treasury yields held steady.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier communicative follows below.

World banal markets fell Friday arsenic worries surrounding the dispersed of the delta variant again took halfway stage.

Germany’s DAX fell 0.3% to 15,720.16 and the CAC 40 successful France gave up 0.2% to 6,594.34. The FTSE 100 successful Britain was down 0.3% astatine 7,040.85 successful aboriginal trading.

Wall Street was acceptable for aboriginal losses. S&P 500 and Dow Jones Industrial Average futures retreated 0.5% to 4,380.00 and 34,646.00 respectively. Both indexes were positioned to extremity the week successful the red.

Traders are watching mounting infections astir the world, including successful New Zealand, which is successful lockdown aft reporting its archetypal outbreak successful six months.

“With the fig of COVID-19 infections connected the rise, particularly successful the U.S., the menace from the delta variant is becoming much evident spurring cautious hazard sentiment,” said Venkateswaran Lavanya of Mizuho Bank.

Positive net reports from retailers lifted sentiments connected Wall Street connected Thursday. So did the Labor Department, recorded different play driblet successful the fig of Americans filing for unemployment benefits.

Claims fell 29,000 to 348,000 past week, successful a pandemic low. This brought the four-week mean to 378,000, besides a pandemic low.

These numbers are 1 to ticker if the inclination continues, Yeap Jun Rong of IG said successful a report.

“September’s jobs study whitethorn beryllium of value successful determining the timeline for tapering. A continued robust betterment successful the labour marketplace whitethorn summation the chances of an earlier tapering timeline, perchance driving immoderate volatility ahead,” helium added.

Earlier this week, minutes from a caller U.S. Federal Reserve gathering showed that officials had discussed reducing plus purchases this year. But they stopped abbreviated of mounting a steadfast timeline.

The Fed’s symposium astatine Jackson Hole starting adjacent Thursday could connection hints connected erstwhile tapering volition begin.

In Asia connected Friday, the Nikkei 225 successful Tokyo mislaid 1% to 27,013.25. Seoul’s Kospi fell 1.2% to 3,060.51 and the Hang Seng successful Hong Kong slipped 1.8% to 24,849.72.

The Shanghai Composite Index gave up 1.1% to 3,427.33. Australia’s S&P/ASX 200 was down 0.1% astatine 7,460.90. Benchmarks successful Singapore and Indonesia roseate portion India’s and New Zealand’s fell.

In vigor trading, benchmark U.S. crude mislaid 22 cents to $63.47 a barrel. Brent crude, the planetary standard, shed 27 cents to $66.18 a barrel.

In currency trading, the U.S. dollar eased to 109.64 Japanese yen from Thursday’s 109.74 yen. The euro retreated to $1.1677 from $1.1682.

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