|Day's Range||22,155.23 - 22,334.69|
|52 Week Range||18,948.58 - 24,448.07|
Global stocks pare gains as weakening data, dovish central bank signals highlight world economic fragility and offset a surprisingly strong US corporate earnings season. Facebook and Microsoft keep tech sector in focus with stronger-than-expected first quarter earnings, setting up Nasdaq Composite for another record run. U.S. equity futures mixed, with S&P 500 gains and a modestly pullback for the Dow, ahead of earnings from Ford, 3M, American Airline and Bristol-Myers, with Amazon, Starbucks and Intel following after the close of trading later today.
TOKYO (AP) — Shares retreated in Europe and Asia on Thursday, with Chinese benchmarks down sharply as the central bank signaled it would opt for caution on stimulus measures.
World equity markets slipped on Thursday amid worries on global growth and as investors digested European earnings, while the Swedish crown slumped to its lowest in 17 years and the euro suffered after German data. The Euro STOXX 600 lost 0.3 percent in early trading, with concern over prospects for global growth underscored by weak economic data from South Korea. Energy stocks and a 10 percent drop in Finnish telecoms equipment maker Nokia dragged down European shares, with a varied bag of earnings for the region's banks.
“The BOJ’s share in the ETF market has been considerably increasing, so the BOJ would want to show the central bank is dealing with it somehow with this ETF lending facility,” said Yoshinori Shigemi, a global market strategist for JPMorgan Asset Management Japan Ltd. in Tokyo. BOJ Governor Haruhiko Kuroda later told reporters there had been requests from market participants because of difficulties in market-making due to a lack of inventory.
European shares slipped and contracts on U.S. equity benchmarks treaded water as investors parsed a slew of earnings against a backdrop of global growth concerns. Technology and construction shares led a decline in the Stoxx Europe 600 Index, with banks falling after a string of headlines that included lower equities trading revenue at Barclays, an earnings beat at Swiss lender UBS and RBS’s search for a new CEO. The yen rose even after the Bank of Japan cut its economic growth forecasts and committed to keeping rates low, and Sweden’s krona dropped after the Riksbank said rates will stay low for longer.
Japan's Nikkei rose to 4-1/2-month high on Thursday as a bevy of corporate earnings turned out to be less bad than some investors had feared and selling ahead of the long holiday eased. Some market players said sentiment was supported after the Bank of Japan said it would consider a scheme to lend some of its massive ETFs (exchange traded funds) holdings and pledged to keep current low rates at least until early 2020. Hitachi Construction Machinery jumped 4.9 percent on its earnings announcement.
The Bank of Japan downwardly revises growth and inflation forecasts. The focus will now shift to the ECB Economic Bulletin and corporate earnings.
The yen and Japanese shares hardly moved on Thursday after the Bank of Japan made minor policy tweaks, saying it will keep rates at current low levels at least until the spring of 2020 and that it will expand eligible collateral for its lending. The dollar stood at 111.99 yen, unchanged after the BOJ's announcement and down 0.2 percent while the Nikkei held on to small gains of about 0.3 percent as the change in the BOJ's forward guidance meant little to investors, who have long expected low rates to stay for many years to come.
Japan's Nikkei edged higher on Thursday morning in choppy trade as investors looked to profit guidance from corporate earnings and awaited a Bank of Japan policy decision. The market is focused on the Bank of Japan's policy meeting later, which is expected to keep monetary policy steady. Fanuc Corp dropped as much as 3.1 percent after it expected its net profit to fall by 60 percent for the year ending March 2020.
Asian shares were mixed Thursday after U.S. stocks closed lower, giving back some of its gains a day after the S&P 500 and Nasdaq hit record highs.
Stocks in China tumbled on Thursday amid worries that Beijing could pull back on stimulus measures following recent better-than-expected economic data. The Bank of Japan kept monetary policy steady on Thursday, and said it intends to keep interest rates "extremely low" until at least till 2020. The South Korean economy shrank unexpectedly in the first quarter, seeing its worst performance since the global financial crisis.
By Herbert Lash NEW YORK (Reuters) - The euro fell against the U.S. dollar on Wednesday after data showed a surprise deterioration in German business morale, raising fears of slowing global growth and ...
The euro fell against the U.S. dollar on Wednesday after data showed a surprise deterioration in German business morale, raising fears of slowing global growth and weighing on a gauge of world equity markets, including Wall Street. The decline in the Munich-based Ifo economic institute's business climate index bucked expectations for a small improvement and sent U.S. Treasury yields lower as investors piled into safe-haven bonds. Premier Li Keqiang in China fed concerns about global growth, saying authorities should not underestimate the difficulties in the Chinese economy.
U.S. equities edged lower as investors assessed corporate earnings and economic data. The S&P 500 Index slumped 0.2 percent from Tuesday’s record close. Although about 80 percent of S&P 500 companies reporting results so far have exceeded estimates, some are starting to question whether the rally has legs.
Asian markets were mixed in early trading Wednesday, surrendering early gains, after the S&P 500 and Nasdaq closed at all-time highs.
Global stocks edge higher, following last night's record closes on Wall Street, as investors regroup for another wave of earnings on Wall Street. Global oil prices ease after the IEA says markets have "comfortable" spare capacity to fill any supply gap from Iran sanctions, with Energy Department data on U.S. stockpiles reporting later today. U.S. equity futures suggest modest declines on Wall Street ahead of earnings from Dow components Boeing, AT&T, Caterpillar and Visa, with Microsoft, Facebook and Tesla following after the close of trading later today.
Global stocks dip, following last night's record closes on Wall Street, as investors regroup for another wave of earnings on Wall Street. Global oil prices ease after the IEA says markets have "comfortable" spare capacity to fill any supply gap from Iran sanctions, with Energy Department data on U.S. stockpiles reporting later today. U.S. equity futures suggest modest declines on Wall Street ahead of earnings from Dow components Boeing, AT&T, Caterpillar and Visa, with Microsoft, Facebook and Tesla following after the close of trading later today.
Japan's Nikkei edged lower in choppy trade on Wednesday as investors stayed cautious before earnings results, but it remained around a 4-1/2-month high as sentiment was supported by a rally in U.S. stocks. Nissan Motor Co tumbled 4 percent after TV Tokyo reported on late Tuesday that it would announce a large cut to its earnings outlook for the fiscal year that ended in March due to weak sales in North America and China. After the market close, Nissan cut its earnings outlook and now expects a net profit of 390 billion yen, compared to previously forecast 410 billion yen.
The steep drop in the Australian Dollar helped export-reliant stocks, such as index-heavyweight drug manufacturer CSL, Ltd., which climbed more than 3 percent to its biggest one-day gain since late December. Lower interest rates tend to drive investors into higher-yielding equity markets.
The Kiwi Dollar and Aussie Dollar take another hit early. The Bank of Canada and corporate earnings could give the Greenback more upside on the day.
Japan's Nikkei was flat in choppy trade on Wednesday as investors stayed cautious before earnings results, but it remained around a 4-1/2-month high as sentiment was supported by a rally in U.S. stocks. Nissan Motor Co tumbled as much as 2.9 percent to 915.2 yen, the lowest since March 29, after TV Tokyo reported that it will announce a large cut to its earnings outlook for the fiscal year that ended in March due to weak sales in North America and China. A Nissan spokesman declined to comment when contacted by Reuters.
Shares in Asia were mixed. Australia's ASX 200 had its highest close in more than a decade on Wednesday. Stocks in Asia were mixed on Wednesday after the S&P 500 and Nasdaq Composite closed at record-high territory overnight on Wall Street.