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Europe's main stock benchmark closed a touch higher on Thursday, with banks providing support after a dose of upbeat results and a U.K. court ruling viewed as favorable for the country's financial sector. Banking shares moved higher in the wake of encouraging quarterly reports from Société Générale SA and ING Groep NV, plus a ruling that the British government can't trigger the Brexit process without signoff from parliament.
The S&P 500 on Thursday fell for an eighth straight session, notching its longest retreat since the financial crisis in 2008. The epic losing streak has prompted a steady stream of predictions from doomsayers about an impending market collapse. But it's important to remember that in the grand scheme of things, this selloff is a mere blip.
Asian shares were broadly lower Friday, with Japan shrugging off better-than-expected economic data as concerns around the narrowing race for the White House curbed investor appetite. Early Friday, the Nikkei Japan services purchasing managers index rose to 50.5 in October from 48.2 in September. A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
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