Dow +0.14% S&P -0.06% Nasdaq -0.35% Russell +0.31%
U.S. equities had a mixed outing on Thursday as investors watched yields rise to multi-year highs, digested a tech-heavy batch of fourth quarter earnings, and looked ahead to Friday's release of the Employment Situation report for January. After opening lower, the market struggled for direction, rotating between modest gains and losses. Facebook climbed 3.3% to a new all-time high after reassuring investors that its ad business would remain highly profitable despite changes to its news feed, which have prompted users to spend less time on the site--about 50 million hours less per day in aggregate. Meanwhile, eBay spiked 13.8% to a new record after announcing plans to take over crucial payment processing duties from PayPal, which tumbled 8.1% in reaction. The most recent batch of Q4 earnings included technology heavyweights Microsoft (MSFT 94.26, -0.75) and Facebook (FB 193.09, +6.20), less influential tech names like PayPal (PYPL 78.40, -6.92) and eBay (EBAY 46.19, +5.61), wireless giant AT&T (T 39.16, +1.71), chemical mammothDowDuPont (DWDP 73.50, -2.08), and package deliverer UPS (UPS 119.51, -7.81). Six of the seven companies beat both earnings and revenue estimates (eBay's results were in line with estimates), but only three advanced on Thursday. US After Hours DATA +17%, ATHN / DECK +7%, AMZN +6%, AAPL +3% all higher, while PI -27%, YRCW -8%, MAT -7%, GOOG -2% are lower following earnings/guidance. Asian shares dipped, with technology stocks leading declines after some disappointment with U.S. corporate earnings. Rising pressure on bond yields round the world stirred the Bank of Japan into action to keep rates from getting out of whack with policy targets. The MSCI Asia Pacific Index dropped, set for the worst weekly performance since September 2016, after Google parent Alphabet Inc. missed earnings estimates and Apple Inc. forecast lower-than-expected revenue. Futures on the U.S. Nasdaq 100 climbed though, as investors turned more optimistic on sales of Apple’s iPhone X model, and the company’s stock gained in after-hours trading. The dollar recovered and Treasuries steadied. Even Japan hasn’t been immune to the sell-off in global bonds that’s sent 10-year Treasury yields to the highest in four years. After 10-year Japanese government bond yields threatened to breach 0.1 percent -- versus a policy target of around zero -- the BOJ announced it’s prepared to buy an unlimited amount of five-to-10 year notes at a fixed rate. Japanese yields retreated, and the yen declined.
Nikkei -0.90% Hang Seng +0.17% CSI +0.52% Shanghai +0.32% Shenzen -0.04%
Eur$ 1.2510 CNH 6.2806 CNY 6.2732 JPY 109.67 GBP 1.4268 CHF 0.9266 RUB 55.9922 WTI$ 66.11 +0.47%
S&P -0.11% EuroStoxx +0.03% FTSE +0.11% DAX -0.05% SMI -0.04%
Macro :
- Merkel Coalition Closer to Forging New Energy, Climate Policy
- ECB’s Nowotny Says Legislation Is Needed to Control Bitcoin
Keep an eye on :
- AGN US : Allergan Says FDA Approves sNDA For Expanded Use of Avycaz
- AIR FP : Airbus Reports Successful Self-Piloted Vahana Test Flight
- AAPL US : Apple 2Q Revenue Forecast Trails Estimate, 1Q IPhone Units Miss
- BAS1V FH : Basware Reports Unexpected Fourth Quarter Profit
- BBVA SM : Metrovacesa IPO Price Range Lowered to EU16.50-EU17/Shr
- CCBG BB : Belgian State May Give Green Light to Belfius IPO Today: L’Echo
- CABK SM : CaixaBank Fourth Quarter Net Income Misses Lowest Estimate
- DBK GY : Deutsche Bank Full Year Net Revenue Misses Lowest Estimate
- DBK GY : Danske Bank Fourth Quarter Net Income Beats Highest Estimate
- DNA FH : DNA Proposes to Distribute Total EU1.10/Shr vs Est. EU0.649/Shr
- EDF FP : French Regulator Suggests Changes in Nuclear Power Purchase Rule
- GOOGL US : Alphabet Fourth Quarter EPS Misses Estimates; Shares Fall 3.9%
- LIGHT NA : Philips Lighting Full Year Adjusted Ebita 2.6% Above Estimates
- MVIRB SS : Medivir to Sell Class B Shares Via Accelerated Bookbuilding
- NRE1V FH : Nokian Renkaat Full Year Dividend Per Share 1.9% Below Estimates
- RNO FP : Carlos Ghosn Is Said To Stay as Renault’s CEO: Le Figaro
- SAB SM : Sabadell Targets Rote of 13% En 2020 Under Strategic Plan
- TEL2B SS : Tele2 Fourth Quarter Ebitda 1.3% Above Estimates