GLOBAL ECONOMY ( Jan 17th ) Global - U.S Markets Wall Street stocks fell on Friday as quarterly earnings of Intel and General Electric disappointed, contributing to a decline in a measure of global equity markets, while the dollar hit a seven-week high against the euro. The S&P 500 and Nasdaq fell, led by losses in Intel and General Electric after disappointing results. But both indexes managed to end the week slightly higher. In Europe, shares rose on brisk volumes, extending their new-year rally as expectations of a pick-up in global growth prompted investors to buy mining stocks. The MSCI all-country world index, a measure of global equity markets, fell 0.13 percent. The dollar hit a seven-week high against the euro after a round of mixed U.S. data on balance supported the view that the worlds largest economy was steadily gaining steam, keeping the Federal Reserve on track to continue to reduce its stimulus. As earnings continue to trickle in, analysts expect the market to get more clarity on the strength of corporate America and look for leadership to define the next move. The market was teased in a good way by some of the first earnings, tempered later with disappointing numbers, and its trying to make a sense of what the quarter is going to be, said John Manley, chief equity strategist at Wells Fargo Funds Management in New York.
Posted on: Sun, 19 Jan 2014 03:56:23 +0000
Trending Topics
Recently Viewed Topics
© 2015