On 22 May, 2015 – European markets slid as investors continue to watch developments in Greece

US and Asian markets declined as Federal Reserve said it will raise interest rates later this year.
US
US stocks ended a volatile trading session on Friday modestly lower, though the S&P 500 and Nasdaq Composite Index booked modest weekly gains. Stocks were sold off towards the end of the session, after Federal Reserve Chairwoman Janet Yellen said she still expected the central bank to raise interest rates sometime this year. The S&P 500 fell 0.2% on the day but gained 0.2% over the week. The Dow Jones Industrial Average slid 0.3% on the day and ended the week with a 0.2% loss. Meanwhile, the Nasdaq posted a 0.8% gain over the week.
Shares of Deere & Co, Campbell Soup and Hewlett-Packard rose following strong earnings reports. However, shares in Marvell Technology Group slid after it announced that its CEO will retire.
In economic news, US consumer prices rose a seasonally adjusted 0.1% in April, according to the Labor Department. Energy prices slumped 1.3% last month while food prices were unchanged. The core Consumer Price Index, which excludes volatile food and energy costs, jumped 0.3%, driven by another increase in housing expenses and a gain in medical care costs.
Oil prices 1.7%, to settle at $59.72 a barrel, the same level prices settled a week ago. Gold prices lost 10 cents to end at $1,204 an ounce, recording their first weekly loss in three weeks. The dollar rose against the euro, booking its first weekly gain in five weeks.
Europe
European stocks slipped Friday, as investors kept a close eye on negotiations between Greece and its lenders as well as the latest confidence data from Germany. The Stoxx Europe 600 index shed less than 1 point, but that was enough to break its four-session winning streak. Germany’s DAX 30 index slipped 0.4%, France’s CAC 40 index ended 0.1% lower, while the UK’s FTSE 100 index bucked the negative trend, climbing 0.3%. The index got a boost from Vodafone, which rallied strongly on takeover speculation.
Shares in Cie. Financière Richemont declined after the luxury-goods company reported an expected 36% drop in annual profit. UK utility firm Severn Trent’s shares slipped after it reported a 54% drop in pre-tax profit. On a more upbeat note, shares of Swiss Re rose after Citigroup lifted the reinsurer’s rating to buy from neutral.
Meanwhile, Athens remained in the news as European leaders met for a second day to discuss Greece’s financial problems. In Germany, The Ifo business-climate index slipped to 108.5 from 108.6 in April, its first drop since October 2014.
Asia Pacific
Asian shares got off to a lacklustre start on Monday, after rising inflation and a hawkish tone from the US Federal Reserve Chair rekindled expectations that the Fed is on track to hike interest rates. Activity is likely to be thin this session, as UK and US markets are shut on Monday for the Spring Bank Holiday and Memorial Day, respectively. Japan’s Nikkei stock index rose 0.7%, getting a tailwind from a weaker yen and trade data released before market open showed a better-than-expected rise in April exports. The Hong Kong and Korean markets are closed; China’s Shanghai Composite Index was up 2.3% and Australia’s S&P/ASX 200 was up 1.1% in early trading.
Global Stock Market Recap

Please remember, the value of investments and the income from them can do down as well as up. Funds that invest in overseas markets may be subject to currency fluctuations. Investments in small and emerging markets can be more volatile than other overseas markets. Reference in this document to specific securities should not be construed as a recommendation to buy or sell these securities, but is included for the purposes of illustration only.
Looking forward*
Monday: Japan releases year-over-year import and export data, the Bank of Japan releases its monthly report. US and UK markets are shut.
Tuesday: US releases durable goods orders, S&P Case Shiller house price index data, new home sales and CB consumer confidence data.
Wednesday: Japan releases minutes from the Bank of Japan’s monetary policy meeting; US releases Market Purchasing Manufacturers’ Index data.
Thursday: UK releases nationwide housing prices and second estimates of quarterly and yearly GDP growth figures for the first quarter; Europe releases economic sentiment data, business confidence data, and industrial sentiment figures; US releases jobless data.
Friday: UK releases Gfk consumer confidence data, Japan releases inflation figures, Consumer price index data, industrial production figures and housing starts. China releases first quarter GDP growth figures.
*Note — all releases are listed in local time.