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.



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