Investors React to OPEC's Production Cut Agreement

Investors React to OPEC's Production Cut AgreemenT
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Here is your round-up of the financial news from around the world:

1. European stocks are likely to drift lower at the start of trading Friday as investors react to yesterday's OPEC agreement on production limits and keep a stern eye on political developments in the United States

2. Global oil prices extended declines overnight as investors reacted to OPEC's decision yesterday in Vienna to extend an agreement among members and some non-member countries, including Russia, that removes 1.8 million barrels of oil from the market each day for a further 9 months.

3. Britain's FTSE 100 is set for a 0.02% advance, however, according to financial bookmakers IG, as the benchmark gets a boost from the weakening pound sterling, which has fallen more than 0.7% against the U.S. dollar over the past two sessions amid evidence of slowing economic growth from the Office for National Statistics and new polling data which shows a steep erosion in support for Prime Minister Theresa May heading into next month's snap election.

4. Jared Kushner, the son-in-law of U.S President Donald Trump and a senior White House adviser, is being investigated by the FBI as part of a wider probe into alleged links between the Trump election campaign and officials in Russia, multiple media reports indicated Friday.

5.  Early indications from U.S. futures prices suggest a similar pullback on Wall Street Friday, with modest declines priced into both the Dow Jones Industrial Average and the broader S&P 500, the latter of which printed its second-consecutive all-time high Thursday when it closed at 2,415.07 points.

READ MORE:

European Stocks Called Lower as OPEC Production Agreement Triggers Bearish Reaction

Jared Kushner is Focus of FBI Investigation Into Trump Campaign Ties to Russia - Media Reports

This article was written by a staff member of TheStreet.