Thursday, 27 October 2016

Markets fall as earnings growth seen key

Markets mostly fell on Wednesday.

The S&P 500 fell 0.2 percent and the STOXX Europe 600 fell 0.4 percent.

The Nikkei 225 bucked the trend though, rising 0.2 percent.

US crude oil fell 1.6 percent to a three-week low.

Bonds also fell. The US 10-year Treasury yield rose to 1.790 percent from 1.758 percent on Tuesday.

On the US corporate earnings front, Apple fell 2.2 percent but Boeing jumped 4.7 percent after providing contrasting earnings reports.

“Earnings growth is going to be really, really key for continued growth in the market, even though we’ve muddled along without that for a while,” said Karyn Cavanaugh, senior market strategist at Voya Investment Management.

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