1. U.S. stocks were little changed on Friday as investors paused on the last trading day of what could be the best month for the three major indexes in four years.
Energy majors Exxon and Chevron reported better-than- expected results, helped by strong refining margins. Exxon (N:XOM) shares were down 1 percent, while Chevron (N:CVX) rose 1.9 percent.
2. U.S. consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases.
The Commerce Department data and another report from the Labor Department on Friday also showed weak inflationary pressures, which would argue against the Federal Reserve raising interest rates at the end of the year.
3. The U.S. dollar held steady against its U.S. counterpart on Friday, after a report showed that Canada's economy grew in line with expectations in August, while weak data from the U.S. dampened demand for the greenback.
USD/CAD hit 1.3193 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3165.
The pair was likely to find support at 1.3085, the low of October 28 and resistance at 1.3280, the high of October 28.
4. Chevron Corp (N:CVX), the second-largest U.S.-based oil producer, slashed its 2016 capital budget by 25 percent and said it would lay off roughly 10 percent of its workforce, one of the most-drastic reactions to date to the plunge in crude prices (CLc1).
The price drop has forced Chevron and dozens of its peers to make tough decisions about what projects to fund or not fund in order to offset natural declines at its existing fields.
The choices are that much starker at large international oil giants like Chevron that rely heavily on their massive budgets to fund exploration projects crucial to finding new energy sources.
5. World shares rose on Friday and were on course for their best month in four years, as global central banks kept stimulus policies intact and many hinted at further steps to re-energize their economies.
That has helped soothe concern over higher borrowing costs in the United States as the Federal Reserve prepares to tighten rates, possibly by the end of the year.
The dollar slipped for a second day, notably against the yen after the Bank of Japan left policy unchanged. Government bond yields also slipped back after two days of Fed-fueled increases.
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