The worse-than-expected earnings may press Walmart down!
Asian stocks shrug off NKorea missile launch
On Wednesday, Asian stocks held revenues as Chinese markets returned after a two-day holiday and traders shrugged off the launch of a ballistic missile by North Korea ahead of an upcoming summit between American and Chinese leaders this week.
The Shanghai composite managed to earn 0.98%, Hong Kong's Hang Seng index inched up 0.24%.
Besides this, Japan's Nikkei 225 gained 0.27%, the S&P/ASX 200 surged 0.03%. As for South Korea's Kospi, it almost stood still.
Overnight, American crude stocks closed higher, following the publication of positive American trade data. The latest batch of American economic trade data, contributed to the narrative of a stronger American economy because in February the US trade deficit narrowed by more than expected.
On Tuesday, the Commerce Department told that the trade deficit dipped by 9.6% to $43.6 billion. Additionally, January's trade deficit was revised from $48.5 billion down to $48.2 billion. Experts had expected the trade gap to contract to $44.8 billion in February.
Twitter reported encouraging earnings results. Cisco's earnings beat estimates, but revenue declined for the fifth quarter in a row.
Stocks rise and drop on their earnings reports. Let's review those which reported recently.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.