Global Stocks Wobble on Mixed Earnings

Crude prices tick higher

U.S. Treasury yields edge down

McDonald’s and Twitter earnings due

European stocks were flat after a downbeat session in Asia Friday, following a series of mixed corporate earnings reports.

The Stoxx Europe 600 was broadly unchanged, with gains for media companies offset by losses in the basic resources sector.

Sopra Steria
,

an information technology consulting firm, was one of the biggest risers with a gain of 11% after it reported strong first-half earnings. Kering, the luxury group, dropped 8% after its Gucci brand missed second-quarter sales expectations.

Asian stocks wavered, with stocks in Shanghai up 0.2%, Hong Kong’s Hang Seng down 0.7% and Japan’s Nikkei down 0.5%.

Car maker Nissan’s shares dropped 3.2% on Friday after the company said Thursday it would cut 9% of its global workforce following a profit drop in the latest quarter.

In the U.S., the yield on 10-year Treasurys ticked down to 2.071%, from 2.078% Thursday. Yields rise when bond prices fall.

On the earnings front,

McDonald’s
Corp.

and

Twitter
Inc.

will report today, as will biopharmaceutical company

AbbVie
Inc.

Amazon.com
Inc.

fell in after-hours trading by 1.6% after its earnings report brought an end to its record quarterly profit streak.

Alphabet
Inc.

’s shares jumped 8.3% after-hours on the back of strong profits.

U.S. gross domestic product data for the second quarter are due later Friday, which will give an indication of the resilience of American consumers during a period of slowing global growth.

In commodities, global oil benchmark Brent crude was up 0.2% to $63.37 a barrel. Gold gained 0.3%.

Write to Lauren Almeida at lauren.almeida@wsj.com

Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!