US equities rebounded on Friday as investors believed that corporate earnings were sufficiently strong to cope with any tapering the Federal Reserve introduces in the coming months. Of the 368 companies in the S&P 500 to thus far report third quarter earnings, 75% of them have exceeded analyst expectations. Boeing achieved an all time high close with the shares up nearly 2%. Retailer, JC Penney was also positive with the shares up over 8% on positive sales momentum. In the Energy sector there was some weakness with Chevron down 1.6% after reporting a sharp drop in refining profits. Other decliners included Toll Brothers down 1.25%, Dow Chemical was down just over 1.30% and Amazon fell 1.38%. Amongst the gainers, Amgen was up 2.19%, Fedex Corporation climbed nearly 3% and Ultra Petroleum was up 2.56% on higher natural gas prices.
Morning Spread 8th March 2017 European shares traded flat this morning, the modest moves masking significant results driven games by several companies on a bust day for European earnings.
Morning Spread 2nd November 2016 Asian stocks followed global equities lower despite gauges of manufacturing in China topping estimates and the Bank of Japan maintained its record stimulus program.
Morning Spread 1st November 2016 Asian stocks were mixed as declines in oil prices dragged energy shares lower and investor anxiety grew over next week’s US presidential election.
Morning Spread 28th October 2016 Asian stocks fell as oil explorers pushed down Hong Kong gauges, while investors digested earnings from several companies.
Morning Spread 27th October 2016 US stocks were mixed following the release of earnings from several companies.
Morning Spread 24th October 2016 US stocks were little changed as a record day for Microsoft and earnings from McDonald’s helped offset a fall in energy and healthcare shares.
Morning Spread 19th October 2016 Asian shares rose as a barrage of Chinese data confirmed the economy had stabilised on the back of government spending and a hot housing market, even if worries about debt continue to mount.
Morning Spread 10th October 2016 Asian stocks were mixed following the second US presidential debate between Hilary Clinton and Donald Trump.
Morning Spread 5th October 2016 Most Asian stocks outside Japan slid on concern central banks will reduce stimulus, while the Nikkei climbed after the yen weakened.
Morning Spread 27th September 2016 Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate.