Global markets mixed as US earnings eyed
HONG KONG — Asian stocks were mostly lower Monday amid caution ahead of earnings announcements from large U.S. companies that could shed light on the state of the world’s largest economy. European markets rose.
Oil prices, meanwhile, climbed above $72 a barrel and the dollar gained against the yen and euro after falling steeply last week.
Global investors are eyeing third-quarter earnings announcements and forecasts for the coming quarters for signs the U.S. economy is on a sounder footing. After aluminum maker Alcoa Inc. kicked earnings season off with results that topped expectations, major banks like JPMorgan Chase & Co. and Citigroup Inc. will be releasing their reports, as will Google Inc. and General Electric Co.
“There was no exciting news on the market, so investors held a wait-and-see position,” said Zhang Qi, an analyst for Haitong Securities in Shanghai.
In Europe, Britain’s FTSE-100 rose 0.9 percent, Germany’s DAX added 1.4 percent and France’s CAC 40 gained 0.8 percent.
Hong Kong’s Hang Seng closed down 200.09 points, or 0.9 percent, at 21,299.35 and South Korea’s Kospi dropped 0.4 percent to 1,639.81. Australia’s benchmark index fell 0.3 percent, while China’s Shanghai index slipped 0.6 percent at 2,894.48.
Japan’s stock market was closed for a holiday.
Elsewhere, Singapore’s index was up 0.9 percent after the government narrowed its forecast for economic contraction this year and said the economy grew for the second straight quarter in the July to September period.
Wall Street finished a strong week on a high note Friday.
The Dow rose 78.07, or 0.8 percent, to 9,864.94, its highest close since Oct. 6 last year.
The S&P 500 index rose 6.01, or 0.6 percent, to 1,071.49, while the Nasdaq composite index rose 15.35, or 0.7 percent, to 2,139.28.
U.S. futures augured a higher opening on Wall Street Monday. Dow futures were up 37 points, or 0.4 percent, at 9,844.
Oil prices rose in Asia, with benchmark crude for November delivery climbing 67 cents to $72.43. The contract rose 8 cents on Friday.
The dollar, which has plunged in recent weeks, ticked up to 90.29 yen from 89.70 yen. The euro was lower at $1.4709 from $1.4725.
__
Researcher Bonnie Cao in Beijing contributed to this report.
Related News
Asian stocks mostly lower amid caution ahead of US earnings; oil above $72 a barrelOctober 11th, 2009 Asian stocks mostly lower as US earnings eyedHONG KONG — Asian stocks were mostly lower Monday amid caution ahead of earnings announcements from large U.S. companies that could shed light on the state of the world's largest economy.
Asian stocks rebound on yen fall, big takeover deals in US; Europe opens lowerSeptember 30th, 2009 Asian stocks rise on yen fall, Wall Street gainsTOKYO — Asian stocks bounced back Tuesday as big corporate takeovers in the U.S. gave investors a new shot of confidence and the yen retreated from a nine-month high against the dollar.
Most Asian stock markets rise amid wariness over US job losses; Shanghai up 3.2 percentSeptember 2nd, 2009 Asian stocks rise but caution over US jobs lingersHONG KONG — Asia stock markets were mostly higher Thursday but fears that rising job losses in the U.S. could derail the economic recovery kept investors on edge.
Stock futures little changed ahead of upcoming Federal Reserve meeting, retailer earningsAugust 10th, 2009 Stock futures little changed to open weekNEW YORK —Stock futures are little changed early Monday as investors turn their attention to an upcoming Federal Reserve Board meeting and earnings from some of the nation's largest retailers. Overseas, Asian markets rose amid a positive report on Japanese machinery orders, a key indicator of corporate capital spending.
Stocks modestly lower ahead of upcoming Federal Reserve meeting, retailer earningsAugust 10th, 2009 Stocks modestly lower in early morning tradingNEW YORK —Stocks were trading modestly lower Monday morning as investors look this week to the retail sector and the Federal Reserve for signs of how the economy is faring. Overseas, Asian markets rose amid a positive report on Japanese machinery orders, a key indicator of corporate capital spending.
US stocks rising sharply as overseas markets observe solid gainsAugust 3rd, 2009 NEW YORK — U.S. stock futures are sharply higher, buoyed by broad gains in overseas markets, as solid reports from European banks give investors a burst of optimism.
Asian stocks rise as better-than-expected earnings lift sentiment; European shares weakerJuly 31st, 2009 Asian stocks gain, Europe falls as US GDP eyedHONG KONG — Asian stock markets closed out a robust July with more gains Friday as better-than-expected earnings at companies from Japan to the U.S. reinforced hopes of stronger global growth.
Stocks futures point to lower opening as investors prepare for crush of earningsJuly 13th, 2009 Stocks futures lower ahead of busy earnings weekNEW YORK — Stock futures are lower as investors brace for a crush of earnings reports this week, including key readings from the banking sector. Overseas, Asian markets tumbled Monfay, but European stocks have posted only modest losses.
Asian stocks mostly higher in choppy trade amid caution ahead of US jobs reportJuly 2nd, 2009 Asia stocks up amid caution ahead of US job reportHONG KONG — Asian stocks were mostly higher Thursday, but buying was restrained by caution ahead of a key U.S. jobs report that could shed light on the pace of recovery in the world's largest economy.
Asian and European markets lackluster as investors brace for US jobs reportJuly 2nd, 2009 World stocks lackluster as traders eye US job dataHONG KONG — Most Asian markets fell Thursday as investors tread cautiously ahead of a key U.S. jobs report expected to show unemployment hit a 26-year-high despite signs of recovery in the world's largest economy.
Asian markets rise modestly on optimism about China, but European markets open lowerJune 22nd, 2009 Asian markets rise on China hopes, Europe slidesBEIJING — Asian stock markets rose for a second session Monday amid optimism about China after the Chinese premier said the economy was improving. But European markets opened lower.
Asian stocks mixed as caution offsets encouraging economic data; European shares lowerJune 2nd, 2009 Asia stocks mixed amid caution; Europe opens downHONG KONG — Asian stocks were mixed Tuesday as a mood of caution following a three-month rally offset more signs that the global recession is starting to let up. European markets fell in early trade.
Japan shares track regional markets higher but investors cautious ahead of earnings resultsApril 23rd, 2009 Japan shares track regional markets higherTOKYO — Japanese shares rose Thursday amid gains in key Asian markets, but investors traded with caution amid concern over the financial sector and ahead of a raft of major corporate earnings results. The benchmark Nikkei 225 stock average gained 119.71 points, or 1.4 percent, to 8,847.01.
Markets close in green on surprise rallyMarch 25th, 2009 MUMBAI - Indian equities markets closed in the green Wednesday as a late rally sent a key index surging by 2.08 percent from its previous close. The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 9,442.3 points, shut shop at 9,667.9 points - a rise of 196.86 points or 2.08 percent.
Markets close marginally lower after volatile tradeFebruary 17th, 2009 MUMBAI - Indian equities ended trade in the red after a volatile session Wednesday, but managed to limit losses compared to other Asian markets. A key index lost 0.22 percent over its previous close.
Loading ...