HomeContributorsFundamental AnalysisMARKET WRAP: Earnings Pulled Stocks Lower

MARKET WRAP: Earnings Pulled Stocks Lower

*Netflix and MS pulled the markets lower *Gold maintained its level of 1400 despite some strong US economic data.

Stocks

  • The S&P 500 continued to move lower on the back of weak earnings and gave up some of its gains from yesterday. It was down by 0.06% 15:31 London time.
  • The UK 100 index moved lower despite a major news from the parliament in relation to Brexit. It lost 0.42%.
  • The Stoxx 600 index lost further momentum today and dropped 0.05%.

Currencies

  • The Dollar Spot Index retraced a little after important comments from the IMF and declined 0.03%.
  • The Euro remained mostly flat but continued its downward trend. It traded at 1.1223 threatening the support level of 1.12.
  • The British pound moved higher today as investors showed some optimism on Brexit. It moved higher 0.24% to $1.2422.
  • The Japanese yen came back in power and gained 0.19% to 107.24 per dollar.

Bonds

  • The yield on 10-year Treasuries continued to move higher and it gained one basis point to 2.06%.
  • Germany’s 10-year yield weakened by one basis point to -0.23%.
  • Britain’s 10-year yield fell by five basis points to 0.75

Commodities

  • West Texas Intermediate crude moved lower despite heightened geopolitical tensions and sank 1.66% to $55.84 a barrel.
  • Gold maintained its level of 1400 despite some strong US economic data. Price was down by 0.15% to $1,420 an ounce.
ThinkMarkets
ThinkMarketshttps://www.thinkmarkets.com/
ThinkMarkets® is a leading broker offering Spread Betting and CFDs on Forex, Indices, Metals and Commodities. With headquarters in London, Melbourne and China, ThinkMarkets® core service includes competitive spreads, free access to charting tools, an award-winning in-house built platform (ThinkTrader™) and multi-lingual customer support 24/6. Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure.

Featured Analysis

Learn Forex Trading