MTS Futures News_AM_20180724

MTS News

MTS Futures News_AM_20180724

24 Jul 2018

• The Dow Jones Industrial Average .DJI fell 13.83 points, or 0.06 percent, to 25,044.29, the S&P 500 .SPX gained 5.15 points, or 0.18 percent, to 2,806.98 and the Nasdaq Composite .IXIC added 21.68 points, or 0.28 percent, to 7,841.87.

The benchmark U.S. S&P 500 index and the Nasdaq index rose on Monday as a jump in 10-year bond yields boosted financial sector stocks and investors anticipated continued strength in corporate earnings and U.S. economic growth.

• Analysts now forecast profit growth of about 22 percent for the second-quarter earnings season, up from 20.7 percent at the start of the month, according to Thomson Reuters I/B/E/S.

But some investors worried about the effects of international trade tensions on the U.S. dollar, which has climbed in recent months. Several U.S. multinationals are reevaluating their currency hedging strategies.

• Asian stocks were mixed in early Tuesday trade after gains in U.S. technology shares drove the sector to a record stateside high while investors kept an eye on bond yields after overnight moves.

Japan's Nikkei 225 advanced 0.41 percent, around 92 points, recovering slightly after the index closed down by more than 300 points on Monday. Insurers led the climb on Tuesday, rising 1.79 percent, while index heavyweights were mixed: Fanuc added 0.82 percent while Fast Retailing slipped 0.3 percent.

Over in South Korea, the Kospi drifted lower by 0.12 percent as markets examined recent corporate results. Steelmaker Posco slipped 0.47 percent after missing earnings estimates on Monday while shippers also tumbled in morning trade. Samsung Heavy Industries and Hyundai Heavy Industries fell 3.65 percent and 2.11 percent, respectively, after reporting operating losses.


Reference: Reuters, CNBC

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