As Investors Assess a Rush of Earnings Reports, US Stocks Rebounded to Close Higher, European Stocks Lower on Ukraine War.
London, Tuesday, 19 April 2022
US Markets Summary
As investors' attention switched to the first-quarter earnings season, the Dow gained about 500 points, while the S&P 500 and Nasdaq exceeded, completing Tuesday's session up 1.6 percent and 2.2 percent, respectively.
Johnson & Johnson beat earnings estimates but fell short on revenue, lowering its full-year outlook. Despite this, the pharmaceutical company increased its stock by about 3%. Citizens Financial gained nearly 7% after beating first-quarter projections.
Aside from a flood of corporate earnings releases, investors are looking for new indications on the Fed's policy stance in speeches by Fed policymakers.
On heightened inflation concerns and expectations of an aggressive hawkish shift in the Fed's attitude, the 10-year Treasury yield climbed over 2.94 percent, a level not seen since late 2018.
U.S. Stock Market Indexes as at 4:00 p.m. ET
S&P 500: +70.79 (+1.61%) to 4,462.48
Nasdaq: +287.30 (+2.15%) to 13,619.66
Dow Jones: +501.19 (+1.46%) to 34,912.88
European Markets Summary
The regional STOXX 600 and the DAX 30 indexes both fell 0.4 percent and 0.1 percent, respectively, to start the holiday-shortened week, led down by a selloff in real estate and healthcare sectors.
Investors reacted to rising tensions in the Russia-Ukraine war, as well as reduced global growth estimates from the World Bank and the International Monetary Fund, and signals of even faster tightening from major central banks.
The UK has announced plans to revoke the recognized exchange status of the Moscow Stock Exchange (MOEX).
On the corporate front, Adevinta, a marketplace expert based in Norway, has lost nearly 11% of its value.
Temenos, a Swiss technology business, on the other hand, increased by over 7%.
European Stock Market Indexes
STOXX Europe 600: -0.77% to 456.28 points
FTSE 100 in London: -0.2% to 7,601.28 points
DAX 30 in Germany: -0.07% to 14,153.46 points
CAC 40 in France: -0.83% to 6,534.79 points
FTSE MIB 30 in Italy: - 0.96% to 24,624.41 points
IBEX 35 in Spain: −5.00 (0.057%) to 8,694.0019 Apr, 17:38 CEST
Ten-year U.S. Treasury note +5.1 bps to yield 2.9130%
U.S. Dollar Index (DXY): +0.22 or + 0.22% at 101.00 as of Apr 19, 2022 6:05 p.m. EDT
VIX volatility index: −0.80 (3.61%) at 21.37as of 19 Apr, 15:15 GMT-5
Crude Oil WTI (NYM $/bbl) Front Month: $102.8, + 0.27 or + 0.26%
Brent Crude Oil Continuous Contract: $107.60, + 0.35 or + 0.33%
Gold: -27.51 or -1.39% at $ 1,950.19 an ounce as on April, 19 2022 at 18:59 NY Time
Silver: -0.72 or -2.82% $ 25.14 an ounce as on April, 19 2022 at 18:59 NY Time
Bitcoin: +597.80 (1.46%) at $ 41,408.60 as on 19 Apr, 23:00 UTC
Ethereum: +43.04 (1.41%) at $ 3,098.90 as on 19 Apr, 22:59 UTC
(Written and edited by: The Decision Maker)