The US stocks opened mixed on Tuesday, as investors weighed the positives and negatives of the latest news. The Dow Jones Industrial Average edged 0.02% higher, while the S&P 500 was slightly lower and the Nasdaq Composite dipped 0.3%. European markets, which had started off in positive territory, gave up those early gains, with major bourses closing in negative territory. The euro tumbled to its lowest level since late July, weighed down by uncertainty over Brexit negotiations and coronavirus-related restrictions across Europe. In this blog post, we’ll provide a stock market update on what happened today and what it might mean for future trading sessions. We’ll also look at some of the key drivers behind this week’s erratic movements and provide insights into how investors may be positioning their portfolios for the coming weeks. Read on for more!
US stocks mixed as Europe gives up early gains
European stocks opened higher on Thursday, but quickly gave up their gains as investors digested a batch of mixed corporate earnings reports and kept an eye on U.S.-China trade developments.
In the U.S., stock futures were pointing to a mixed open as traders monitored trade headlines and awaited more corporate earnings reports.
On the earnings front, Walmart (WMT) posted better-than-expected quarterly results, but its shares were under pressure after the company announced that it was exiting the grocery business in Brazil.
Meanwhile, shares of Cisco Systems (CSCO) fell after the company reported disappointing results for its fiscal fourth quarter.
In other news, U.S. President Donald Trump said he will not meet with Chinese President Xi Jinping before a March 1 deadline set by both countries to reach a trade deal. Trump also said he is in “no rush” to make a deal with China.
Dow Jones Industrial Average falls 100 points
The Dow Jones Industrial Average fell 100 points on Thursday, weighed down by healthcare and energy stocks. European stocks gave up early gains after disappointing economic data from the eurozone.
In the US, the Dow Jones Industrial Average was down 0.4% at 25,857 points. The S&P 500 was flat at 2,871 points and the Nasdaq Composite was up 0.1% at 7,822 points.
European stocks were mixed after a choppy session on Thursday. The pan-European STOXX 600 index closed down 0.1%. UK’s FTSE 100 ended the day marginally higher while Germany’s DAX and France’s CAC 40 both lost ground.
Data from the eurozone showed that industrial production in the bloc fell more than expected in February, while inflation in March came in below forecasts.
S&P 500 and Nasdaq Composite edge higher
The S&P 500 and Nasdaq Composite both edged higher in early trading on Thursday, as investors kept an eye on developments in Europe.
European markets gave up early gains and turned lower, after the European Central Bank announced that it would leave interest rates unchanged. The ECB also cut its growth forecast for the eurozone.
In the U.S., economic data was mixed. Jobless claims fell more than expected last week, but private-sector job growth slowed in September.
The stock market has been volatile in recent weeks, as investors grapple with concerns about trade tensions, interest rates, and global economic growth.
European stocks turn lower after earlier gains
European stocks turned lower on Friday after earlier gains, as investors weighed the latest batch of corporate earnings and U.S. economic data.
The Stoxx Europe 600 index fell 0.2% to 374.42, after climbing as much as 0.8% earlier in the session.
The U.K.’s FTSE 100 index was down 0.1% at 7,266.76, while France’s CAC 40 index slipped 0.3% to 5,331.84 and Germany’s DAX 30 index declined 0.4% to 12,817.14.
In earnings news, Anglo American PLC shares rose 2% after the miner posted a jump in first-half profit and declared a special dividend as it benefits from higher prices for some commodities including iron ore and copper.
Elsewhere, Daimler AG shares were 1% lower even after the luxury car maker reported a record operating profit for the second quarter on strong demand for its Mercedes-Benz vehicles in China and North America ̶ offsetting challenges in Europe where new emissions tests are weighing on sales of diesel cars
Asian markets mostly higher on Friday
Asian markets were mostly higher on Friday as investors awaited the release of U.S. nonfarm payrolls data.
Japan’s Nikkei 225 index advanced 0.3 percent, while South Korea’s Kospi rose 0.6 percent and Australia’s S&P/ASX 200 added 0.2 percent.
China’s Shanghai Composite Index was little changed, however, as data showed the country’s manufacturing sector expanded at a slower pace in February. The official Purchasing Managers’ Index (PMI) came in at 50.3 last month, below January’s reading of 51 and expectations for 51.2 according to Reuters analysts.
Investors will be closely watching U.S. jobs data due later in the day as they look for clues on the health of the world’s largest economy and how it might impact global growth prospects.
US stock market set for weekly loss
The US stock market is set for a weekly loss as European markets give up early gains. The Dow Jones Industrial Average was down 0.4% at 27,362.21, while the S&P 500 was down 0.3% at 3,058.73. The Nasdaq Composite Index was up 0.1% at 8,253.60. In Europe, the UK’s FTSE 100 was down 1%, Germany’s DAX 30 was down 1%, and France’s CAC 40 was down 1%.
