Crude oil fell on Friday after Goldman Sachs slashed its price forecast through next year, while global equity markets traded mixed as investors assessed the economic outlook and a potential move by the Federal Reserve next week to raise interest rates.
A drop in U.S. consumer sentiment in September to its lowest in a year initially weighed on Wall Street, as the University of Michigan’s preliminary reading for the month slid to 85.7, compared with the final reading of 91.9 in August and much lower than the median forecast of 91.2 of economists polled by Reuters.
Stocks in Europe fell but still recorded the biggest weekly rise since July. The pan-European FTSEurofirst 300 index .FTEU3 closed down 1.0 percent at 1,401.07, and MSCI’s all-country world stock index .MIWD00000PUS was flat.
Wall Street rebounded in thin trade ahead of the Fed’s policy-setting meeting Sept. 16-17. The S&P 500 posted its biggest weekly gain since July.