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The woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread more
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread more
European markets closed sharply higher Friday, as investors tentatively returned to riskier assets after a turbulent week.
The pan-European Stoxx 600 index closed provisionally up almost 1.3%, with all sectors and major bourses in positive territory.
The U.K.'s blue-chip index had hit a six-month low in the previous session, as an escalating trade war between the United States and China and growing concerns about the world economy saw global stocks in sell-off mode.
Europe's bank and utility stocks led the gains, with both sectors surging about 2.4% and 1.7% respectively.
Looking at individual stocks, Switzerland's Sunrise Communications was one European company in focus Friday. Germany's Freenet said it would vote against a proposed capital increase by the Zurich-based firm to fund a takeover bid for UPC. Shares of Sunrise rose about 3.5%.
Meanwhile, the Netherlands' Imcd tumbled to the bottom of the index after reporting first-half earnings on Friday. Shares slumped almost 15% as the firm's CEO warned of uncertain and volatile market conditions.
On Wall Street, stocks resumed a partial rebound from a massive sell-off earlier in the week. The Dow Jones Industrial Average rose over 270 points, while the Nasdaq and S&P 500 indexes were also positive.
Trading, which had already been dampened by a slowing economy and ongoing Sino-U.S. trade tensions, became more volatile in recent days after the U.S. 2-year/10-year Treasury yield curve inverted — a market move that is widely considered to be a signal of a looming recession.
Speaking to CNBC in Asia, Ray Dalio, founder of the world's largest hedge fund, said that there's a 40% chance that the U.S. will experience a recession before the 2020 election.
Investors will also be watching for developments in the U.S.-China trade war. U.S. President Donald Trump said Thursday that trade negotiators were holding "productive" talks, adding that he expected a meeting to be held in September, Reuters reported.
However, Beijing said on Thursday that it would retaliate to the latest round of U.S. tariffs on Chinese goods.