19.4 C
Munich

Global stocks are shrinking as profits take first place

BANGKOK (AP) – Shares rose in Europe and US futures rose on Wednesday as corporate earnings were in the spotlight after a day in Asia.

The German DAX rose 0.4% to 15,189.03, and the Paris CAC 40 jumped 0.7% to 6,206.80. The British FTSE 100 increased by 0.7% to 6,905.16. Wall Street seemed to be making a predetermined start, the future of the S&P 500 was less than 0.1%, and for the Dow Industrial – 0.1%.

Worsening coronavirus outbreaks in Asia have cast doubt on regional recovery prospects.

But investors are also focusing on the flow of the company’s earnings reports to see if Corporate America is recovering along with the rest of the economy. About 80 members of the S&P 500 are due to report on the results this week, as is one in three Dow members.

According to FactSet, on average, analysts expect the S&P 500 quarterly profit to increase by 24% over the previous year.

Asian governments are trying to secure supplies of COVID-19 vaccines after seeing an increase in the number of infections in recent weeks. Cargo overload from medical systems from Japan to India և leads to the restoration of epidemic precautions such as travel restrictions, quarantine requirements մ darkening of nightlife.

Tokyo’s Nikkei 225 fell slightly more than 2.0% to 28,508.55 and Hong Kong’s Hang Seng fell 1.8% to 28,621.92. In Seoul, Cospin lost 1.5% to 3171.66, and the Sydney S & P / ASX 200 fell 0.3% to 6,997.50. The Shanghai Composite Index ended unchanged at 3,472.93.

In India վատ Deteriorating outbreaks in Thailand are also hampering travel recovery, which in turn is boosting oil and fuel price forecasts, Axi’s Steven Innes said in a comment.

The S&P 500 closed at 4,134.94 on Wednesday. Dow Jones Industrial Average lost 0.8% to 33,821.30. The Nasdaq slipped 0.9% to 13,786.27 after falling early earnings.

The Russell 2000 Index of Shares of Smaller Companies, which outperformed the broader market throughout the year, fell 2% to $ 2,188.21.

The yield of the 10-year treasury fell from 1.60% to 1.57%.

Investors have become more defensive, preferring utilities, real estate stocks, a number of companies that make consumer products such as food, and household goods.

The market fluctuated between “record highs” of profits to pull back as investors assessed strong economic growth against the risks still posed by the epidemic. That drive is likely to continue as vaccines become available and different industries reopen.

“The speculative momentum has eased in recent years as the US revenue season begins to resemble the rumor that it is selling the fact-finding scenario,” said Jeffrey Hall, Oanda of Oanda.

Elsewhere on the New York Mercantile Exchange, US crude oil lost 27 cents to $ 62.40 a barrel. It traded at 76 cents, or $ 62.67, a barrel on Tuesday. International Brent crude fell 25 cents to $ 66.32 a barrel.

The dollar rose from 108.09 yen to 108.22 Japanese yen late Tuesday night. The euro fell from $ 1.2035 to $ 1.2013.

LEAVE A REPLY

Please enter your comment!
Please enter your name here