Global Markets

The S&P 500 is eyeing its fifth straight session of gains after a recent dovish stance from the Federal Reserve

The U.S. Federal Reserve's recent caution continued to feed risk appetite but there were a number of idiosyncratic factors marching markets higher.

The Dow Jones Industrial Average finished the week with a loss of nearly 7%, after losing 1.8% or more than 400 points Friday, to close at 22,445.37.

Apple shares fell 1.77 per cent in extended trade after US President Donald Trump told The Wall Street Journal that tariffs could be placed on laptops and mobile phones imported from China.

Shanghai shares dropped 4.3%, on track for their worst day since February 2016, to their lowest level since late 2014, while China blue chips slid 4%.

Eight of the 11 major S&P sectors gained ground with the S&P energy sector rising 0.58% led by Chevron and Exxon Mobil as oil markets awaited a weekend meeting of OPEC.

Apple forecast revenue of $60 billion to $62 billion for its fiscal fourth quarter, beating the $59.6 billion analysts had expected, according to data from Thomson Reuters

Trump North Korea Kim Jong Un Shares of European and Asian automakers skidded on the possibility of import tariffs, while U.S. automakers gained.

US gold futures for June delivery settled down $10.20, or 0.8 per cent, at $1,322.80 per ounce. The dollar index rose to a four-month high against a basket of currencies.

A better performance is forecast for silver, however, with the metal tipped to pull back more lost ground against gold.

The S&P 500 and the Dow Jones Industrial Average ended up after a choppy session, with the Dow ending a five-day losing streak, but the Nasdaq posted its fifth straight loss, weighed down by technology stocks.

The dollar index, which measures the greenback against a basket of currencies, was up 0.1 per cent at 90.816, just below 91.076 hit in the previous session, its strongest level since January 12.

US West Texas Intermediate (WTI) futures were down 7 cents at $67.63 per barrel. That was also off the late-2014 highs of $69.56 a barrel marked earlier in April.

The British bank, which revised its forecasts for the first time in almost a year, saw Brent and WTI crude prices averaging $71 a barrel and $68 a barrel respectively this year.

For the first time since 2009, smartphone sales in China fell last year while global sales fell in the fourth quarter of 2017 for the first time since 2004.