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Corporate Earnings, Bond Market Sending Mixed Signals

Daily Recap

Despite the weekend attack in the U.K. and renewed tensions in the Middle East, stock markets around the globe remained steady. Europe was modestly lower, with the Stoxx 600 falling 0.13%. Most of the Asia-Pacific headed the other way, with near half-percent gains in Hong Kong and India, and Japan's Nikkei up an impressive 1.6%. Overall, the Global Dow shed 0.23%.


Here in the states, most major averages ended marginally lower, with the Industrials dropping 22 points and the Transports falling a quarter of a percent. The broader S&P 500 was down 0.12% while the Nasdaq fell 0.16%. Breadth was also negative, with declining shares and issues outpacing advancing.


Interest rates ticked higher as bond prices fell. The yield on the 10-year note rose to 2.18%. Meanwhile, the dollar was more or less unchanged and light crude fell half a percent to $47.40/barrel.


In the precious metals world, gold traded in a tight ... Log in or subscribe to continue reading.

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