US stocks closed with little change on Monday, ending a strong July on upbeat company earnings and hopes of a soft landing for a resilient US economy. All three major stock indexes ended with gains for the month, ahead of a busy week of earnings reports from companies including Amazon.com …
Read More »European stocks surge on declining Eurozone inflation
The Stoxx Europe 600 Index rose 0.1% on Monday as new data showed the euro zone economy returned to growth in the three months through June and inflation fell.The combined gross domestic product of the 20 countries that use the euro grew at an annualized rate of 1.1% in the …
Read More »Procter & Gamble record very strong earnings on price hikes
Procter & Gamble reported slightly better fiscal quarter results than Wall Street had anticipated due to higher prices. CEO Jon Moeller stated that consumers remain strong and seek brands they know and trust. P&G benefits from a decline in commodity prices, particularly in petro and pulp prices, but labour costs …
Read More »Eurozone blue-chip shares touch 15-year high on ECB’s pause hopes
Eurozone blue-chip shares rallied to their highest in more than 15 years on Thursday as investors anticipated the European Central Bank was close to the end of its tightening cycle. The EURO STOXX 50 index was up 2.3%, touching its highest level since December 2007, while the pan-European STOXX 600 …
Read More »Barclays says Apple September quarter guidance could miss Street estimates
In a letter to investors on Wednesday, Barclays analysts expressed their concern that Apple’s forecast for the September quarter would fall short of market expectations. Despite the likely miss, the analysts said it’s not obvious that it matters for the stock because “bulls may expect a stronger Dec-Q.” They rate …
Read More »Dow records longest rally since 2017 ahead of rate policy decision
As traders considered the most recent earnings reports, the Dow Jones Industrial Average closed higher for the 12th straight day, recording its longest winning streak in more than six years. The Dow gained 26.83 points, or 0.08%, to reach 35,438.07, making it the 30-stock index’s 12th straight winning session and …
Read More »Alphabet earnings surpass market expectations
Google’s parent company; Alphabet, reported Q2 earnings on Tuesday, beating expectations on both the top and bottom lines, sending the stock up as much as 6% in after-hours trading. Google ad revenues totaled $58.14 billion in the quarter, better than the $57.5 billion expected and $56.3 billion reported in the …
Read More »US stocks surge as investors eye earnings, FOMC decision
Dow Jones Industrial Average led Wall Street higher on Monday, notching its longest winning streak in six years. Investors are broadening the market’s breadth, with people starting to take profits in tech and invest in other parts of the markets. The tech-heavy Nasdaq Composite Index has rallied 34.3% this year, …
Read More »Higher rates pushed US banks’ earnings higher in Q2
Higher interest rates helped US banks’ Q2 profitability, which in turn helped key markets rise. The prospects for the industry is, however, cast in doubt by decreased consumer spending, sluggish loan growth, and rising deposit-retention expenses. The S&P 500 Banks Index increased by 9.3%, while the KBW Regional Banking Index …
Read More »Wall Street’s rally weakens after Tesla, Netflix miss estimates
Tesla and Netflix’s spring profits have delayed Wall Street’s advance after the two tech-focused businesses who announced their spring profits. Despite better-than-expected profit and revenue, Tesla’s stock fell 9.7%, and analysts think that investors may be worried about the electric vehicle manufacturer’s profitability following price cuts. The summertime shutdown of …
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