Bloomberg A bevy of corporate earnings pulled US stocks higher, while European equities climbed on rising confidence among German businesses. Treasuries retreated with the dollar as the Federal Reserve began its policy meeting. Earnings from Caterpillar Inc. and McDonald’s Corp. led to outsize gains in the Dow Jones Industrial Average, while Alphabet Inc.’s disappointing results weighed on technology indexes. Banks …
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Euro heads for decline as carmakers weigh on stocks
Bloomberg The euro headed for its first decline in three days as data showed the region’s economy cooling at the start of a week packed with corporate results and a Federal Reserve rate decision. Stocks were dragged down for a second day by carmakers amid a collusion probe. The common currency halted the advance that saw it hit a two-year …
Read More »China ‘overrated’ bonds may challenge foreign rating firms
Bloomberg China has finally opened up its credit-rating market. But foreign credit assessors aren’t likely to waltz in, local money managers say. The challenge for rating companies, which generally charge issuers for scoring them, will be to win business from borrowers used to getting high grades from local assessors. That’s key after Sunday, which marked the day by which China …
Read More »Earnings boost stocks, euro retreats as ECB meets
Bloomberg Stocks rose Wednesday on earnings strength, with the S&P 500 Index and Nasdaq Composite Index adding to Tuesday’s record highs. The euro retraced some recent gains as European policy makers gathered in Frankfurt before Thursday’s rate decision. Oil fluctuated. It was a day of reversing trends in Europe, with the common currency coming off the highest close since August …
Read More »Dollar falls as ‘reform hopes’ dim
Bloomberg US stocks fell and the dollar slid to an 11-month low as President Donald Trump’s economic revitalization agenda once again faltered. European shares dropped amid earnings disappointments, and gold climbed to the highest in two weeks. The greenback lost ground against all but one of its G-10 peers on signs Trump’s health-care reform bill is effectively dead in its …
Read More »Region falls; weak earnings hit Egypt
DUBAI / Reuters Middle East stock markets fell on Tuesday as a tumble by real est-ate developer DAMAC caused Dubai to break a seven-session ris-ing streak and weak corporate earnings helped to pull down Egypt’s bourse. The Egyptian blue chip index, which had closed at a record high on Monday, sank 1.7 percent in rising turnover – a negative technical …
Read More »Asia stocks ex-Japan rise to two-year high
Bloomberg Asian equities ex-Japan rose to their highest in two years as better-than expected economic data in China and receding bets on rate hike by US boosted the growth outlook for the region. China small-cap shares fell amid regulatory concerns. The MSCI Asia Pacific Index ex-Japan rose for a sixth straight session, adding 0.3 percent to 519.85 as of 4:30 …
Read More »US stocks, bonds jump on go-slow Fed; oil climbs
Bloomberg US stocks rose with Treasuries, while the dollar retreated after Janet Yellen signaled the Federal Reserve won’t rush to tighten monetary policy as inflation remains persistently below target. The S&P 500 Index climbed within 1 percent of an all-time high, joining a rally in European equities as Yellen expressed confidence in the American economy while suggesting inflation rates won’t …
Read More »Energy shares give a boost to Indian stocks
DUBAI / Reuters India’s main stock indexes capped a third day of record highs, paced by a rally in energy shares. A gauge of mid-cap stocks also climbed to an all-time level. The benchmark S&P BSE Sensex gained 0.2 percent to 31,804.82 at the 3:30 p.m. close in Mumbai, while the NSE Nifty 50 Index rose 0.3 percent. The Nifty’s …
Read More »Hong Kong stocks rise
DUBAI / Reuters Hong Kong stocks rose for a third day, closing above the key 26,000 level for the first time in more than a month, as banks led the gains. The Hang Seng Index advanced 0.6 percent to 26,043.64 at the close. Banks accounted for the benchmark’s top three gainers, with Industrial & Commercial Bank of China Ltd. and …
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