The worse-than-expected earnings may press Walmart down!
European stocks inch down
On Monday, European stocks declined, following the global trend as market partisans fretted that Donald Trump’s failure to gain enough support to replace health care turned to be an indicator of troubles he might have in the future with other promised fiscal policies, including tax reform or infrastructure spending.
Nearing midday trade in Europe, the Euro Stoxx 50 dived 0.53%, France’s CAC 40 declined 0.46% and Germany’s DAX 30 slumped 0.84%.
Asian stocks concluded lower earlier, while American futures pointed to a lower start.
Safe-haven assets, including the Japanese yen as well as precious metals, gained demand, as the greenback takes a hit.
The US dollar index, normally tracking the greenback’s actual value against a trade-weighted basket of crucial currencies, decreased 0.61%, being worth 98.98.
Against the yen, the greenback dipped approximately 1% to its lowest value since November, while the common currency reached its highest value against the US dollar since December.
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.