Wednesday, 30 January 2019

Markets mixed as China slowdown seen impacting corporate earnings

Markets were mixed on Tuesday.

The S&P 500 fell 0.2 percent but the STOXX Europe 600 rose 0.8 percent and the Nikkei 225 rose 0.1 percent.

US investors were concerned about corporate earnings.

“Earnings numbers are showing definitively that the China slowdown is having an impact on U.S. companies,” said Mark Esposito, president of Esposito Securities.

“We're still overweight stocks. But I think you have to really to temper that enthusiasm with that kind of deceleration in corporate profits,” said Richard Bernstein, CEO of Richard Bernstein Advisors.

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