Markets mixed, oil steady as “negative news priced in”

Markets were mixed on Friday.

The S&P 500 rose rose 0.2 percent but the STOXX Europe 600 fell 0.2 percent.

Earlier in Asia, the Nikkei 225 fell 0.6 percent but the Shanghai Composite rose 0.4 percent.

Oil was steady, with West Texas Intermediate crude unchanged and Brent gaining 0.2 percent.

The Energy Information Administration had reported on Thursday that US crude supplies rose by 10.3 million barrels for the week ended 9 November, an eighth consecutive increase.

“Price reaction to the U.S. inventory data shows that negative news is now largely priced in,” said Carsten Fritsch and the commodities team at Commerzbank in a note.