Subscribe to RSS

Market Overview:  Markets retreated on disappointing corporate reports

US stock markets declined on Tuesday on weaker than expected quarterly reports. The dollar fell as investors booked gains after four-day winning streak. The ICE US dollar index, measuring the value of six-currency basket, was down 0.7%. The index has risen 8.5% since the beginning of the year. The Dow Jones Industrial Average dropped 1%, S&P 500 fell 0.4%, with nine of its 10 main sectors ending lower. Nasdaq Composite retreated from Monday’s record high, closing 0.2% lower. IBM's shares fell 5.9 % after disappointing second-quarter report showed company's revenue fell for the 13th consecutive quarter. United Technologies tumbled 7.9 % after the company cut its full-year profit outlook. Apple fell 8.8% in after-hours trading after company’s revenue forecast for the current period missed analysts’ projections. Investors are cautious as revenues are stagnant with valuations at record highs. Thus, S&P 500 trades at 16.9 times forward 12 months earnings, above the 10-year median of 14.7 times, whereas second-quarter earnings of S&P 500 companies are expected to fall 1.9%. Today Coca-Cola , Boeing , Qualcomm Inc., American Express and SanDisk Corp will report quarterly earnings. At 12:00 CET mortgage applications will be released in US. At 14:00 CET April Housing Price Index will be published. The tentative outlook is positive. At 15:00 CET June existing home sales will be released. The tentative outlook is positive.

European stocks retreated on Tuesday after nine-session wins as healthcare, technology and telecom stocks fell. The euro gained about 1% against the dollar, hurting Europe’s exporters. Germany’s DAX fell 1.1%, France’s CAC 40 lost 0.7%. Swiss drug maker Novartis AG lost 2.2% after reporting 32% fall in second-quarter profit from a year ago. The Finnish paper producer Stora Enso sank 8.3% after it reported lower than expected profits due to higher costs and production problems. Shares of Swedish telecom operator Tele2 AB slumped 7.1% as the company reported second-quarter profits less than half as much as a year ago. Greek government submitted legislation to parliament related to reforms in civil justice system, bankruptcy laws, as well as austerity measures. The parliament has to vote on them today for the third bailout negotiation to start between Greece and its creditors. The Greek stock market remained closed. No important economic data are expected today in euro-zone. At 10:30 CET Monetary Policy Committee meeting minutes will be released in UK.

Nikkei fell 1.1% today as yen strengthened and US equities declined overnight. Falling Apple shares undermined investor confidence in Apple related stocks, with Murata Manufacturing tumbling 6.4 %, Foster Electric falling 2.5 %, and TDK Corp dropping 3.0 %. Tomorrow at 00:50 CET June trade balance will be released in Japan. The tentative outlook is positive.

Today at 22:00 CET the Reserve Bank of New Zealand interest rate decision and statement will be released. The central bank is expected to cut the interest rate 0.25% to 3.0%.

Oil prices are falling today after closing higher for first time in five sessions on Tuesday on back of weaker dollar. Traders are waiting for crude oil inventory data from US which will be released today at 15:30 CET, a 1.6 million-barrel drop in stockpiles is expected.

Gold prices are falling for tenth session, breaking below $1100 an ounce as investor sentiment toward the safe haven metal turned bearish as China’s market declined and expectations grew the Federal Reserve will raise interest rates this year.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$2017 Forex No Deposit Exclusive Bonus – FreshForex

$2017 Forex No Deposit Exclusive Bonus – FreshForex(0)

$2017 HotNo Deposit Exclusive Bonus Offer to all new verified customers. The $2017 Forex No Deposit Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 Hot No Deposit Bonus offers Available to: All New Traders. Ending Date: 15 January 2017 Bonus Offer: $2017 Forex No Deposit Exclusive Bonus Offer to

100% Bonus Forex and Binary Options- MarketsYes

100% Bonus Forex and Binary Options- MarketsYes(0)

100% Holiday Cheer Deposit Bonus 2016 Forex / CFD and Binary Options to all New Traders. MarketsYes is glad to offer prospective clients for every deposit up to 1000 USD/EUR/GBP a 100% Holiday Cheer Deposit Bonus Link: 100% Holiday Cheer Deposit Bonus 2016 Link:  $25 Free Bonus Forex / CFD & Binary Options Available to:

$10 Binary Options No Deposit Bonus – Hirose UK

$10 Binary Options No Deposit Bonus – Hirose UK(0)

$10 Binary Options Free No Deposit Bonus Campaign is available for new clients who open a Binary Option Account. It’s that simple. Link: $10 Free No Deposit Bonus Link: 50% First Deposit Bonus Available to: All new Binary Option Account Validity Date: 31 December 2017 Bonus Offer: $10 Binary Options Free No Deposit Bonus Campaign

$30 Free Bonus Plus 30% Deposit Bonus – Ayrex

$30 Free Bonus Plus 30% Deposit Bonus – Ayrex(0)

$30 Binary Options No Deposit Bonus to all New activated Clients. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! This bonus allows you to profit without making an investment and trade binary options risk-free. Link:  $30

$50 Forex No Deposit Bonus Exclusive Offer – FortFS

$50 Forex No Deposit Bonus Exclusive Offer – FortFS(0)

$50 Forex No Deposit Bonus Exclusive Offer to New and Existing Traders. The $50 Forex No Deposit Welcome Bonus can be received within the promotional time period, from 28.11.2016 to 07.12.2016 inclusive. Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Available to: New

$25 Countdown Forex Bonus Promotion 2017 – ForexTime

$25 Countdown Forex Bonus Promotion 2017 – ForexTime(0)

$25 Countdown Forex Bonus Promotion 2017 new and existing will be eligible traders. ForexTime is offering by receive a $25 credit bonus when they make a deposit of $300 into their accounts*. Link:  $25 Countdown Credit Bonus 2017 Link:  Loyalty Cashback Promotions Link:  $4 Cashback back for every lot Ending Date: 31 December 2016 Available

100% US NFP Bonus Promotion December 2016 – Xtrade

100% US NFP Bonus Promotion December 2016 – Xtrade(0)

Up to 100% Deposit Bonus Promotion to All New and Existing Customers. December 2016 US NFP Announcement Deposit NOW $1000 to $5000 and receive 100% bonus! Link:  $50 No Deposit Bonus Promotion Link: 100% Deposit Bonus Promotion Link:  Free Flight Tickets to Madrid Available to: All New and Existing Customers Bonus Ending Date: Valid 01/12

100% Welcome Bonus Plus Risk Free Trade – Trade12

100% Welcome Bonus Plus Risk Free Trade – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:  Get 100% Welcome Bonus Link: 50% Exclusive Deposit Bonus Available to: All new clients Ending Date: 31 December 2016 Bonus Offer: Get 100% Welcome Deposit Bonus Plus 7-day risk

Get 25% Credit Bonus on their first Deposit – HYCM

Get 25% Credit Bonus on their first Deposit – HYCM(0)

25% Credit Bonus available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2016 Available to:   New Clients only Bonus Offer: 25% Trading Bonus Available on your deposits to New Clients only. This promotion is

$300 Free win Forex Trading Credit Bonus – easyMarkets

$300 Free win Forex Trading Credit Bonus – easyMarkets(0)

$300 Free win Forex Trading Credit Bonus to all new and existing clients. Answer the weekend quiz and fill the form with your correct and accurate contact details. Link:  50% Deposit Bonus Up to $2000 Link:  $300 Free win Trading Credit Bonus Link:  $25 Forex No Deposit Bonus Available to: All new and existing clients.

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories