TOKYO - Global markets fell Wednesday, after a dismal day on Wall Street marked by disappointing earnings news and lingering doubts about the direction of oil prices. France’s CAC 40 slipped 0.4 percent to 4,452.86 in early trading, and Germany’s DAX fell 0.1 percent to 10,563.61. Britain’s FTSE 100 was down 0.5 percent at 7,034.92. U.S. shares were also set for a lower open, with Dow and S&P futures down less than 0.1 percent. “After resisting the sell-off in bonds and rising yields for nearly two weeks, U.S. equity markets finally bowed to pressure last night, dropping below the recent trading range,” Ric Spooner, chief market analyst for CMC Markets, said in a commentary. “Stock markets are becoming nervous about the prospect of rising interest rates against a background of moderate profit growth and relatively high valuations, particularly in the U.S.” Shares in Samsung, which plunged 8 percent the day before, lost 0.7 percent on … [Read more...] about Global stocks dip taking cue from Wall Street
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Last Updated Aug 10, 2017 4:43 PM EDT Technology companies led a broad slide in U.S. stocks late Thursday afternoon, giving the stock market its biggest loss in two months. And escalating tensions between the U.S. and North Korea weighed on the market for the third day in a row. Financial companies and department store operators were among the big decliners.All three major stock indexes saw losses accelerate into the close after President Donald Trump amplified his fiery rhetoric aimed at North Korea's Kim Jong Un on Thursday afternoon.The Standard & Poor's 500 index fell 36 points, or 1.5 percent, to close at 2,438. The Dow Jones industrial average slid 205 points, or 0.9 percent, ending at 21,844 – the blue-chip index's first close below 22,000 since breaching that mark. The Nasdaq composite lost 135 points, or 2.1 percent, to finish at 6,217. The Russell 2000 index of smaller-company stocks gave up 24 points, or 1.3 percent, to 1,378.On Thursday, the U.S. and North … [Read more...] about Wall Street drops hard as Korean tensions escalate
Global stock markets rose Monday and Wall Street was expected to open higher after gains late Friday ended a turbulent week with a more upbeat mood. U.S. stocks closed sharply higher on Friday after swinging wildly earlier in the day. Despite the higher close, shares ended the week with a loss of more than 5 percent. Friday's wild ride followed a drop of 10 percent from the latest record highs set only weeks ago. "Higher volatility will likely persist for a little while," said Gaurav Saroliya of Oxford Economics in a report. "The threat to valuation multiples is unlikely to remain as high as it seemed last week. The current equity market turmoil is unlikely to dent continued strong global economic growth. We still see 2018 as the best post-financial crisis year." While analysts view market corrections as a normal event, some are pointing to a combination of events that worried investors. Those include anxieties about a potential rise in U.S. inflation, which could lead to … [Read more...] about After a bruising week, Wall Street expected to open higher
Until today, few people probably heard of King Digital Entertainment, the corporate parent of the hugely popular Candy Crush game. That is about to change. Earlier today, the company unveiled plans for a $500 million U.S. initial public offering. Unlike 68 percent of other IPOs that are unprofitable, King Digital makes money -- lots of it -- earning $567.6 million in profit last year, an increase of more than 7,000 percent from $7.8 million in 2012. Revenue surged more than tenfold to $1.3 billion. As of Dec. 31, King Digital had 408 million average monthly users, compared with 67 million in the quarter ended Dec. 31, 2012. That's an increase of more than 508 percent. Not surprisingly, King Digital warned in its filing with the U.S. Securities & Exchange Commission that the growth may not be sustainable. "Although we were profitable in the past, we expect to make significant investments in growing our business and significantly increase our employee headcount, which could … [Read more...] about Will Wall Street find Candy Crush parent’s IPO sweet?
NEW YORK (AP) — The latest on developments in financial markets (all times local):4 p.m.Losses for health care companies and banks left stocks lower, although a late push for technology and industrial companies helped the market avoid a steeper decline.The Dow Jones industrial average managed a tiny gain, thanks to a rise in Boeing, erasing an earlier loss of 393 points.AIG slumped 5.3 percent and prescription drug distributor Cardinal Health plunged 21.4 percent.Tesla fell 5.5 percent after reporting a big loss. Investors were puzzled when CEO Elon Musk mocked questions from analysts during the company's conference call.The S&P 500 index slid 5 points, or 0.2 percent, to 2,629.The Dow edged up 5 points to 23,930. The Nasdaq fell 12 points, or 0.2 percent, to 7,088.Bond prices rose. The yield on the 10-year Treasury note fell to 2.95 percent.———11:45 a.m.Stocks are skidding again on Wall Street as the market continues a sell-off that began late the previous … [Read more...] about Markets Right Now: Stocks end mostly lower on Wall Street