Global Stocks Muted as Earnings Disappoint
27 April 2016 - 6:50PM
Dow Jones News
Soft corporate earnings reports kept global stocks subdued
Wednesday, as investors looked ahead to a monetary-policy decision
from the Federal Reserve.
The Stoxx Europe 600 was flat in early trade, following modest
losses in Asia. Futures pointed to a small opening loss for the
S&P 500. Changes in futures don't necessarily reflect market
moves after the opening bell.
After Wall Street closed Tuesday, Apple and Twitter both posted
revenue that fell short of analysts' expectations, sending shares
in both companies down sharply in after-hours trading.
Corporate earnings reports were somewhat more encouraging in
Europe on Wednesday. Shares of Barclays were up over 4% after the
bank reported a 7% fall in first-quarter net profit, while shares
of Adidas were on track to pass all-time highs after the sportswear
group raised guidance for the year and posted strong preliminary
first-quarter data.
Later Wednesday, investors will closely parse the Federal
Reserve's policy statement, set for release at 2 p.m. EDT, for
clues about a potential interest-rate rise in June.
In commodities, Brent crude was last up 1.4% at $46.240 a
barrel, on track for its highest settlement this year, after the
American Petroleum Institute reported U.S. crude inventories likely
decreased by 1.1 million barrels last week.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
April 27, 2016 04:35 ET (08:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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