Kamis, 25 Juli 2019

US Stocks Drop; Euro Reverses Decline: Markets Wrap - Yahoo Finance

U.S. Stocks Drop From Records; Euro Reverses Slide: Markets Wrap

(Bloomberg) -- U.S. stocks fell from record highs amid a torrent of corporate results, while the euro recovered from a two-year low and European bonds reversed gains after Mario Draghi didn’t give markets enough of a dovish signal they were hoping for.

The S&P 500 dropped from an all-time high and the Dow Jones Industrial Average slumped for a second day as investors digested a flood of earnings. 3M advanced after beating estimates, while Tesla plunged on weak results. Ford slumped as the gloom in the global auto industry spread. PayPal dropped and Dow was flat after results. Amazon and Alphabet highlight after-hours reports.

“Draghi’s tone did more to raise recession fears than it did to ease them,” said Jim Paulsen, Leuthold Group Inc.’s chief investment strategist. “That’s what the market is reacting to because there is the fear out there that even if we start easing, it might be too late and it brings up that same fear here in the United States.”

The euro rose versus the dollar and Treasuries fell after ECB President Draghi left rates unchanged but said a “significant degree” of monetary stimulus is needed and the outlook is “getting worse and worse.”

“For the markets, it continues to be this tug-of-war between continued policy stimulus and whether that’s going to be enough to head off the slowing trend in global growth,” said Ed Campbell, portfolio manager and managing director at QMA.

Earnings have been broadly positive for stocks, but worries still linger over trade and a slowing global economy. Oil advanced as declining U.S. crude stockpiles and threats to Persian Gulf exports mingled with concerns that slower economic growth will stifle demand.

Most major indexes in Asia advanced, though Korean stocks declined for a second day. The dollar and Treasuries declined. Turkey’s lira fluctuated after the central bank cut its key rate by the most on record.

Australia’s dollar hit its low of the session and benchmark bond yields touched a record low after Reserve Bank Governor Philip Lowe said he was prepared to cut interest rates again if needed. Crude oil recovered some of the previous session’s losses.

Here are some key events coming up:

Earnings season rolls on with companies including Amazon.com, Alphabet and McDonald’s still to report this week.

U.S. gross domestic product figures due Friday may show business investment posted the first decline in three years.

These are the main moves in markets:

Stocks

The S&P 500 Index gained 0.2% to 3,010.70 as of 10:32 a.m. New York time, the highest in more than a week.The Dow Jones Industrial Average dipped 0.3% to 27,196.64, the biggest decrease in more than a week.The Nasdaq Composite Index rose 0.2% to 8,267.07, the highest on record.The Stoxx Europe 600 Index sank 0.6% to 389.26, the first retreat in a week and the biggest dip in almost three weeks.The U.K.’s FTSE 100 Index was little changed at 7,498.74, the lowest in a week.Japan’s Nikkei 225 Stock Average climbed 0.2% to 21,756.55, the highest in more than 11 weeks.

Currencies

The Bloomberg Dollar Spot Index was little changed at 1,198.45.The euro jumped 0.3% to $1.1171, the first advance in a week.The Japanese yen decreased 0.3% to 108.48 per dollar, the weakest in two weeks.The British pound fell 0.1% to $1.2476.The Swiss franc sank 0.3% to $0.9882, the weakest in two weeks on the largest decrease in almost three weeks.The onshore yuan was little changed at 6.873 per dollar.

Bonds

The yield on 10-year Treasuries increased four basis points to 2.08%, the largest increase in two weeks.The yield on two-year Treasuries rose four basis points to 1.85%, the highest in two weeks.Germany’s 10-year yield climbed two basis points to -0.36%, the first advance in more than a week and the largest increase in two weeks.Britain’s 10-year yield increased two basis points to 0.701%, the first advance in a week and the biggest increase in two weeks.

Commodities

Gold dipped 0.5% to $1,419.14 an ounce.

To contact the reporters on this story: Vildana Hajric in New York at vhajric1@bloomberg.net;Olivia Rinaldi in New York at orinaldi1@bloomberg.net

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

Let's block ads! (Why?)


https://finance.yahoo.com/news/asian-stocks-set-muted-open-230606134.html

2019-07-25 14:02:00Z
52780337926935

Tidak ada komentar:

Posting Komentar