Oil jumped 6% on Thursday after Iran shot down a U.S. military drone, prompting President Donald Trump to blast Tehran on Twitter.Energy Commoditiesread more
For doubters thinking the rally is just a last gasp of the decade-long bull market, chart analysts are here to prove them wrong.Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
"I think there's a deceleration in the economy to the point where the railroads, the airlines, the companies, the lenders are all admitting that there's deceleration," says...Investingread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."CNBC Disruptor 50read more
Apple said in a letter released Thursday that tariffs could hurt its ability to compete globally.Technologyread more
Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
Trump tweets after an Iranian surface-to-air missile shot down a U.S. military surveillance drone in what the U.S. calls an "unprovoked attack."Politicsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
Mortgage rates have been falling steadily since the last week of April, and that may be reigniting home price appreciation. The lower the rate, the more purchasing power...Real Estateread more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Asian markets closed slightly lower on Friday following overnight news that U.S. President Donald Trump canceled a scheduled summit with Kim Jong Un.
South Korea's Kospi slipped 0.21 percent to 2,460.80, with gains in tech heavyweights failing to give the overall index a boost as steelmakers and financials took a hit. Over in Australia, the S&P/ASX 200 shed 0.07 percent to end at 6,032.80, with the energy and materials subindexes contributing to losses.
Greater China markets eased in the morning, with Hong Kong's slipping 0.48 percent by 3:00 p.m. HK/SIN as energy and tech sector stocks moved lower. On the mainland, the Shanghai composite edged down by 0.4 percent to finish at 3,142.17 and the Shenzhen composite declined 0.93 percent to 1,810.03.
Japan's Nikkei 225 erased early losses to close higher by 0.06 percent, 13.78 points, at 22,450.79. Airline stocks were buoyed after the fall in oil prices overnight while the Topix oil and mining sectors slid 0.87 percent and 2.82 percent, respectively.
Despite those slight gains, the Nikkei still finished the week down by more than 2 percent, according to Reuters data.
Other markets were also lower for the week, with the Shanghai composite declining around 1.2 percent. MSCI's index of shares in Asia Pacific excluding Japan was more sanguine, edging higher by 0.09 percent in Asia afternoon trade.
The moves lower came after Trump canceled a planned meeting with North Korean Leader Kim Jong Un that had been set to take place in Singapore on June 12. Trump said participating in the summit would be "inappropriate" given the "tremendous anger and open hostility" displayed by North Korea, which had reportedly suspended direct communication with the U.S. this week.
But following Trump's announcement on the cancellation, North Korea said it was willing to resolve issues with the U.S., the country's state-run KCNA reported on Friday.
"Risk aversion may persist in the interim, especially on uncertainty over China's role in the U.S.-DPRK negotiation (as suggested by Trump) amid the recent uptick in geopolitical tensions again," OCBC Bank analysts wrote in a morning note.
U.S. stocks finished the session lower, with the Dow Jones industrial average slipping 0.3 percent. Still, that was less severe than the 280-point fall seen after news of the cancellation was announced.
Gold, seen as a safe-haven during periods of uncertainty, pared some of its overnight gains but stayed above the $1,300 per ounce levels.
The dollar firmed against the Japanese yen after sliding overnight, last trading at 109.42 at 2:45 p.m. HK/SIN. The dollar index, which tracks the greenback against a basket of currencies, rose to 93.919 after dipping on Thursday.
South Korean and Japanese automaker traded mostly lower, extending Thursday's declines after the U.S. Department of Commerce said it had started an investigation into automobile imports on a "national security" basis. U.S. Commerce Secretary Wilbur Ross told CNBC on Thursday that "economic security is military security."
On Friday, Toyota Motor declined 1.29 percent, Honda Motor was lower by 0.93 percent and in Seoul, Hyundai Motor and Kia Motors slipped 0.71 percent and 1.38 percent, respectively.
Markets in the region had closed mostly lower in the last session following that announcement.
In individual movers, shares of Samsonite fell 13.19 percent by 3:00 p.m. HK/SIN in Hong Kong after the luggage maker said allegations in a recent short seller report were "one-sided and misleading." Blue Orca Capital, which issued the report, had accused Samsonite of having questionable accounting practices.
Lenovo Group, meanwhile, was up 6.65 percent by 3:01 p.m. HK/SIN after the PC maker announced fourth-quarter revenues rose 11 percent on year, full-year revenue coming in at a three-year high, according to Reuters. The company also recorded at $189 million loss for the fourth quarter, which was larger than the $161.3 million average in a Thomson Reuters poll.