US equities end higher, post weekly loss

US stocks finished on a positive note on Friday as expectations for renewed monetary easing strengthened after the New York Fed president indicated there is room for near-term rate cuts.

The Dow Jones Industrial Average gained 1.10%, or 493 points, to 46,245, though it still posted a 1.91% weekly loss.

The S&P 500 rose 1%, or 64 points, to 6,602, trimming its weekly decline to 1.95%.

The Nasdaq Composite added 0.88%, or 195 points, to 22,273, but ended the week 2.74% lower.

In Europe, the Stoxx Europe 600 slipped 0.33% to 562 points, marking a weekly loss of 2.21%.

London’s FTSE 100 edged up 0.13% to 9,539, while Germany’s DAX fell 0.80% to 23,091. France’s CAC 40 was flat at 7,982.

In Japan, the Nikkei 225 dropped 2.4% to 48,625, while the broader Topix was unchanged at 3,297, leaving both indices down 3.45% and 1.85% for the week, respectively.

On oil, Brent January futures dropped 1.29%, or 82 cents, to $62.56 a barrel, posting a 2.84% weekly loss.

US WTI January futures — the most active contract — dropped 1.59%, or 94 cents, to $58.06 a barrel, widening their weekly decline to 3.4%.

Gold edged higher, with December futures up 0.50%, or $19.50, to $4,079.50 an ounce, though the metal still logged a 0.36% weekly loss.