Last Update: April 25, 2023, 01:14 AM IST
European shares closed essentially unchanged ahead of a potentially market-moving earnings report, which includes a stream of European banks split from US megacaps. (Representational image)
This week’s earnings covered a slew of potential market movers including tech and tech-adjacent Alphabet Inc, Microsoft Corp, Meta Platforms Inc and Amazon.com.
Wall Street was weak on Monday, with interest rate-sensitive stocks pulling the Nasdaq lower and US Treasury yields lower as investors braced for a week of high-profile quarterly earnings and closely followed economic data. saw.
The benchmarks S&P 500 and Dow were little changed while Microsoft Corp and other megacaps dragged the Nasdaq into the red.
“People are uncertain about what’s going to happen this week, especially in terms of earnings,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “There is a lot to be cautious about and today shows it. Not much is happening.
This week’s earnings covered a slew of potential market movers including tech and tech-adjacent Alphabet Inc, Microsoft Corp, Meta Platforms Inc and Amazon.com.
High-profile industrialists General Motor Co., Boeing Co., Northrop Grumman and Caterpillar are also on deck.
On the economic front, housing data, industrial output and the first episode of the Commerce Department’s first quarter GDP will be capped on Friday by the closely watched and comprehensive Personal Consumption Expenditure (PCE) report, which tracks income, spending Is. and inflation.
The Dow Jones Industrial Average rose 14.36 points, or 0.04%, to 33,823.32, the S&P 500 fell 2.38 points, or 0.06%, to 4,131.14 and the Nasdaq Composite lost 49.28 points, or 0.41%, to 12,023.17.
European shares closed essentially unchanged ahead of a potentially market-moving earnings report that includes a stream of European banks aside from US megacaps.
The pan-European STOXX 600 index declined 0.01% and MSCI’s gauge of shares around the world added 0.02%.
Emerging market shares declined 0.37%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.36% lower, while Japan’s Nikkei rose 0.10%.
US Treasury yields declined as market participants appeared increasingly jittery about the approaching debt ceiling deadline.
The benchmark 10-year note rose in price to 3.509% from 3.572% late on Friday.
The 30-year bond price rose 31/32 to yield 3.7225% from 3.778% late Friday.
The greenback weakened against a basket of world currencies as the euro strengthened and the yen fell ahead of the much-anticipated Bank of Japan meeting.
The dollar index fell 0.46%, the euro rose 0.57% to $1.105.
The Japanese yen weakened 0.08% versus the greenback at 134.28 per dollar, while sterling last traded at $1.2484, up 0.43% on the day.
Crude oil saw an uptrend but recovered on hopes of firmer demand from China later in the session.
US crude rose 1.14% to $78.76 a barrel and Brent settled at $82.73, up 1.31% on the day.
Gold rose ahead of key economic data expected to influence the Federal Reserve’s decision-making at next month’s monetary policy meeting.
Spot gold rose 0.3% to $1,989.41 an ounce.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
