LONDON Global stocks were steady on Wednesday as corporate earnings reports sent mixed signals about the economy and trading in currency markets remained volatile. Although U.S. earnings have been relatively upbeat this week, European reports were distinctly mixed, showing some companies are still in the midst of a deep restructuring of their business. Dutch insurer ING is slashing another 2,400 jobs while French bank Societe Generale booked a loss in the fourth quarter and said it will make savings cuts. French car maker PSA Peugeot Citroen posted a record loss in 2012 but its shares rose 6 percent as it said it was now ready to benefit from a recovery in demand next year after painful job cuts. By midday in Europe, Britain's FTSE 100 was flat at 6,333.76 while Germany's DAX was up 0.4 percent to 7,689.87. France's CAC-40 was also unchanged at 3,685.1. Wall Street appeared headed for a higher open, with futures in both the Dow and the broader S&P 500 rising 0.1 percent. On … [Read more...] about Mixed corporate earnings turn markets cautious
Last Updated Oct 14, 2014 2:15 PM EDT U.S. stocks moved higher in afternoon trading Tuesday, on track for their first gain after three straight losses. Investors were focusing on a slate of corporate earnings, including better-than-expected results from Citibank and Domino's Pizza. Airline stocks also were among the big risers.The Dow Jones industrial average rose 98 points to 16,420 as of 2:13 p.m. ET. The Standard & Poor's 500 index added 16 points to 1,890. The Nasdaq gained 42 points to 4,253."We'll see how much stability comes back to the market as a result of this," said Matt Whitbread, investment manager at Baring Asset Management. "We've seen some active afternoon sessions of late where we've seen some quick give-ups of some of the morning gains."Stocks are coming off their worst week in more than two years. The Dow went negative for the year on Friday. A late-afternoon slide on Monday extended the market slump, sending the Dow 222 points lower. The Dow is now down 1.1 … [Read more...] about Corporate earnings give lift to U.S. stocks
HONG KONG - Global stock markets were uneven Tuesday as investors digested a wave of quarterly corporate earnings reports that will provide guidance on the state of the world economy. European stocks were lower in early trading. Britain's FTSE 100 index was down 0.1 percent at 6,782.25 and France's CAC 40 lost 0.2 percent to 5,133.44. Germany's DAX slipped 0.1 percent to 11,728.09. U.S. stocks were poised for a slow open: Both Dow and S&P futures were flat. Now that the Greek crisis is fading from view and China's stock market plunge has abated, investors are taking the pulse of the global economy in the form of second-quarter corporate results. European companies reporting Tuesday included Swiss drug giant Novartis, which said quarterly income fell by a third. That came after results Monday from U.S. companies including toy maker Hasbro, oil and gas company Halliburton and investment bank Morgan Stanley, which all reported better than expected earnings. Japanese and Australian … [Read more...] about World stocks uneven as investors mull corporate earnings
FRANKFURT, Germany - European stocks were mixed Monday after gains overnight in Asia. U.S. markets were poised for only a modest rise after last week's gains as investors await more corporate earnings reports. In early trading, London's FTSE was off 0.5 percent at 6,383.58. Germany's DAX index was up 0.3 percent at 10,130.04 and France's CAC-40 was off 0.3 percent at 4,685.24. Wall Street looked set for a muted open: Futures for both the S&P 500 and Dow were essentially flat, following a strong week last week. Hopes that the market rout may be nearing an end in China boosted stocks. The Shanghai Composite Index rose 3.3 percent to 3,287.66 points and Hong Kong's Hang Seng gained 1.2 percent to 22,730.93. Seoul's Kospi advanced 0.1 percent to 2,021.63 and Singapore, Jakarta and Taiwan also rose. Japanese markets were closed for a holiday. Sydney's S&P ASX 200 shed 0.8 percent to 5,232.90 and India's Sensex retreated 0.8 percent to 26,871.20. Bangkok also declined. … [Read more...] about Global stocks mixed; Wall Street awaits corporate earnings
The second-quarter earnings season is really heating up now, with high-profile reports by the likes of IBM (IBM), Netflix (NFLX), Microsoft (MSFT) and Bank of America (BAC) already in the bag. And as is typical, the results have been coming in ahead of expectations: 68 percent of S&P 500 companies reporting to date have beaten their consensus earnings estimates. But the results haven't been good enough to end the ongoing corporate earnings recession, now in its fifth consecutive quarter. And what's worse, early indications are that blended S&P 500 earnings are now set to decline in the third quarter as well. The flow of earnings reports continues to ramp up this week, giving investors a lot to watch -- especially a number of large-cap company results with market-moving implications. The peak of the earnings season will occur on Thursday, July 28 when 86 S&P 500 components report. Apple (AAPL), which reports on Tuesday after the close, has been a highlight (or lowlight?) of … [Read more...] about Will the corporate earnings recession ever end?